In the vast realm of online trading, brokers often go to great lengths to promote their services, boasting about their unrivaled expertise and revolutionary platforms. IndigoTrader is no exception. With their extravagant claims and promises, they were painting a picture of unparalleled success and prosperity. However, fear not, for we are here with our review to delve into the depths of this brokerage scam, uncovering the truth that lies beneath their glossy facade.
- IndigoTrader General Information
- Registration and Client Portal Review
- IndigoTrader Trading Conditions
- Account Types Review
- Trading Platform
- IndigoTrader — Deposit and Withdrawal of Funds
- Additional Options
- Is IndigoTraders a Scam?
- Legal Information and License
- Indigotrader.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
IndigoTrader General Information
|Address||150 Parliament St London, England, SW1A 2NH|
Registration and Client Portal Review
IndigoTrader’s website is undeniably a letdown. It seems that the inclusion of popular football players’ photos serves as a desperate attempt to mask its overall mediocrity. Seriously, the menu offers a mere three sections, two of which prove to be utterly pointless. It’s disheartening to encounter such a lack of effort and innovation.
The website’s monotony extends beyond its limited menu options. It follows a generic template, lacking any unique or captivating design elements. It’s as if they expect users to be content with a superficial and shallow browsing experience, devoid of any meaningful insights.
The registration process on IndigoTrader’s website appears to be a mere formality rather than a robust verification procedure. Upon signing up, it becomes evident that the broker takes a lackadaisical approach to email and phone verification. This lax attitude towards verifying user credentials undermines the platform’s overall credibility.
Email and phone verification serve as crucial security measures, ensuring that users’ accounts are protected from unauthorized access and fraudulent activities. By neglecting these essential steps, IndigoTrader exposes its users to potential risks and compromises their sensitive information.
IndigoTrader’s personal account dashboard is a stark embodiment of minimalism, devoid of any unique or innovative functionalities. It follows the conventional structure commonly found in online brokerage platforms, offering a straightforward and no-frills user interface.
Within the dashboard, traders can access basic account information, transaction history, and balance overview. Standard features like deposit and withdrawal options, trade execution, and account settings are also present.
It’s worth noting that IndigoTrader’s personal account dashboard lacks any standout or distinctive features that set it apart from other brokers in the market.
IndigoTrader Trading Conditions
IndigoTrader takes an incredibly unique approach to describing its trading conditions, or should we say, lack thereof.
Account Types Review
Seriously, the broker manages to provide virtually no information about how you’ll actually be trading on their platform. Remember how we mentioned earlier that there are only three tabs in the menu panel, with two of them being utterly useless? Well, the one tab that holds any value is the “Contact Us” section. That’s right, there’s no description of account types anywhere to be found. And don’t even get us started on the absence of details regarding minimum deposit requirements or leverage options. They don’t even bother mentioning the trading assets they offer. How amusing, isn’t it?
Sure, there’s a disclaimer buried somewhere stating that currencies and cryptocurrencies are risky assets, but let us assure you that IndigoTrader grants you access not to those, but rather to derivative assets, specifically contracts for difference (CFDs). Of course, they conveniently leave out any information about spreads or commissions. It’s as if they want to keep you guessing!
So, can you appreciate the cutting-edge nature of this broker? They truly excel in keeping their clients well-informed, or should we say, misinformed. It seems to us, when it comes to IndigoTrader, the less you know, the more they profit.
Let’s talk about the IndigoTrader platform, or should we say, the sorry excuse for one. It’s a prime example of limited functionality at its finest. The platform seems to have been designed with the sole purpose of deceiving unsuspecting traders. Trust us, it’s a favorite playground for scammers.
First and foremost, the platform’s features are incredibly limited. It lacks the essential tools and functionalities that reputable trading platforms offer. It’s as if they intentionally stripped away any useful features to ensure traders remained in the dark. From charting tools to advanced order types, you won’t find anything of value here.
Moreover, the platform’s user interface is clunky and outdated. Navigating through its cumbersome layout is a frustrating experience. It’s clear that IndigoTrader didn’t invest much effort in creating a user-friendly environment for its clients. However, hey, scammers aren’t exactly known for their dedication to user experience, are they?
IndigoTrader — Deposit and Withdrawal of Funds
IndigoTrader loves to boast about the variety of payment methods available to its users. It claims that customers can conveniently use credit and debit cards, cryptocurrencies, bank transfers, and more. Sounds great, right? Well, let us enlighten you about the harsh reality.
When it comes to funding your account on their Client Portal, the experience is far from smooth. Upon your first attempt to deposit funds, you’re greeted with an error message stating that the payment system is currently unavailable. So much for their impressive range of payment methods!
To resolve this issue, they kindly suggest contacting a manager. Oh, how considerate of them! It turns out that you can’t resolve anything without engaging in a conversation with an IndigoTrader staff member. So, dear users, don’t be fooled by IndigoTrader’s claims of convenience and flexibility in payment methods. In reality, they make it clear that you’re at their mercy, and without engaging in a conversation with one of their representatives, you won’t get anywhere.
IndigoTrader will require you to submit certain documents for verification purposes. Typically, they ask for a copy of your identification document (such as a passport or driver’s license) and proof of address (such as a utility bill or bank statement). Once you submit the necessary documents, IndigoTrader’s team will review them to ensure their authenticity. This process may take some time, ranging from a few days to a couple of weeks. IndigoTrader doesn’t mention how long it will take.
IndigoTrader offers some additional options, including bonuses, that you might not have been aware of. Surprisingly, information about these bonuses is only available within the Client Portal. Additionally, on the main website page, you can find a widget displaying real-time cryptocurrency prices and news updates.
Is IndigoTraders a Scam?
Now it’s time for our favorite section. Get ready. We will now reveal who’s who.
Legal Information and License
As often happens with brokers of this kind, you won’t find complete legal information in the footer. You’ll have to search for it in the user agreement. So, what does this document provide? Well, not much. We still don’t know the managing company behind IndigoTrader. However, the English phone number and office address give us hope that the broker is based in the UK. What a disappointment! There are four companies with similar names in the registry. Unfortunately, three of them have already been dissolved.
That leaves us with only Indigo Traders Limited, founded on January 7, 2022. However, here’s the catch. Firstly, the company’s activity type is listed as “retail service.” Secondly, it seems they missed the confirmation statement. And thirdly, they definitely don’t have an FCA license for broker activities. In short, this company not only has no connection to our broker but also has its own issues. As you may have already guessed, IndigoTrader turns out to be a typical unlicensed and unregistered scam. Erling Haaland probably wouldn’t be too pleased to see his face adorning the website of such fraudsters.
Indigotrader.com Domain Info
Regarding the broker’s duration of operation, it’s all standard. In the “why choose us” section, you will surely read stories about their twenty years of experience. And certainly, you didn’t miss the awards they allegedly received in previous years. As always, reality differs. The IndigoTrader domain was created in 2018, but the broker began posting content about itself in the spring of 2023. There aren’t even enough reviews about them online yet. Let us proudly say that we are among the first to expose this scam.
It is truly strange to see the broker’s contacts. In the footer, there is one address specified, and it’s an American one (where trading CFDs is actually prohibited). However, in the contact section, a completely different address is provided. Moreover, users are assured that there is a 24/7 chat available on the website. Meanwhile, we couldn’t find it anywhere. There is an email and a phone number, but it seems someone made a significant mistake regarding the chat feature.
Pros and Cons
- A short time of existence
- No legal data
- Lack of proper registration
- No license
- Trading conditions are not described.
Frequently Asked Questions (FAQ)
It claims to offer trading services in various financial instruments, including Forex and crypto. However, their website lacks comprehensive information about their offerings, and their trading conditions remain undisclosed.
The minimum deposit required to start trading with IndigoTrader is not explicitly stated on their website.
No, it is not. IndigoTrader is a scam with the absence of proper regulatory licenses and inadequate disclosure.