Research IntraDay: myth or reality?
When talking about the brokerage company IntraDay, the promises sound tempting: fast order execution, no commissions, and access to all major trading markets. However, objective user reviews of this service can be counted on one hand. What explains the low interest in IntraDay? Let’s take a closer look in this review.
Main Information
On their website, IntraDay presents the following information: the broker’s work experience is over 10 years, clients from 84 countries, presence in awards and membership in ESEC, as well as over 350,000 deals daily. The information looks very convincing, however, it must be acknowledged that this is pure deception.
The true work experience of IntraDay remains questionable due to the hidden information about the company’s location and registration date. Registration details are missing on their website, and the Client Agreement does not mention the company’s jurisdiction, let alone contact information.
The address mentioned on the website in London is not confirmed as the legal address of the company. There is no organization with that name even in the UK. Everything indicates that IntraDay simply truncated the names of existing companies, trying to embellish their underground enterprise.
The domain intraday.ltd was registered recently, and the owner’s data is hidden. The website has no active social media accounts or forum discussions, confirming the shadowy nature of this company. All provided contact details are fake, including the email address.
The signature of the alleged leader of IntraDay, indicated in the Documents section, is actually copied from the profile of Russian composer V.K. Novikov on Wikipedia.
The data indicates that the creators of the IntraDay website quickly put it together, filling it with false information, stock images, and vile content, trying to mask their scam as a brokerage company. However, a brief check reveals IntraDay as a primitive apparatus for deception.
Regulation of Broker’s Activities
IntraDay claims that their activities are regulated by the independent European regulator, the European Securities Commission (ESEC). This is far from being the key supervisory body. Granting a license to a commercial organization does not replace a license from a state regulator. However, IntraDay does not have either of them, as it is absent from the ESEC database.
No European regulator has granted IntraDay permission to operate in Union countries. There is also no confirmation from the Bank of Russia.
Collaborating with an unlicensed broker poses high risks. In the case of IntraDay, it leads to deception, as already claimed by deceived clients in their reviews.
Trading Terms, Tariffs
IntraDay does not offer a choice between different account types, only standard and Islamic accounts. Here are the main conditions of the standard account:
- Minimum deal volume – 0.01 lot;
- Main currency for deposit and withdrawal – US Dollar;
- Available assets: currencies, cryptocurrencies, commodities, metals, indices, stocks;
- No demo account is provided;
- Minimum deposit is not specified.
The trading platform used by IntraDay remains unknown, and there is no access to educational materials. Presumably, the conditions are provided very sparingly because, most likely, each client is offered a unique set of services based on their financial capabilities.
Reviews of IntraDay
IntraDay is just entering the market, so finding any reviews about it is difficult. The few clients who have encountered IntraDay have been dissatisfied and share their experiences. They note:
There are no reviews from clients outside the country yet. This once again indicates that claims of global service are fictitious.
History of Clients’ Money Losses at IntraDay
The organizers of fraudulent activities in IntraDay operate in a standard manner. They hire sales managers who pitch potential clients and sell the mediator’s services. Managers receive a bonus for each new client and insistently persuade them to open an account. Then the scammers intervene, posing as analysts, and instruct clients on which deals to make and how much more money to invest for more successful trading.
Unfortunately, IntraDay is unable to fulfill deals on the international market. Users operate on a virtual trading platform, while the fraudsters instantly transfer real money to offshore accounts or crypto wallets.
The mini-show continues, and users are constantly offered to pay for various services or “insurance.” If a user tries to withdraw funds or refuses to pay, their account is simply blocked.
Conclusions about IntraDay
IntraDay is a typical scam from the creators of pseudo-brokers. The company lacks documentary evidence of registration or licensing, and its existence is measured in just a few months. The first reviews are starting to appear online, confirming that IntraDay is a fraudulent project.
My experience with IntraDay was incredibly disappointing. The broker not only lacked the professionalism that I expected but also failed to provide the support and assistance required. The customer service was below par, often taking days to respond to my queries and concerns. Moreover, their platform was constantly glitchy and unreliable. During crucial trading hours, these technical issues proved highly detrimental. My transactions were delayed and, in some cases, not processed at all, causing considerable financial losses. I was not provided with any explanation or compensation for these errors by IntraDay. I also found their fees much higher than other brokers without any added benefits or features. Overall, I believe their service is not worth the time or the money. I would not recommend IntraDay to any serious traders.