Warning: Is Itorotrade a Scam?

Review: Itorotrade (itorotrade.com)

Our experts advise you to avoid Itorotrade (itorotrade.com).

Itorotrade appears to be a trading firm, but it appears illegal by any major financial regulator, like the ASIC or CySEC.

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Safety Analysis: Itorotrade

Our check confirms that Itorotrade does not hold a valid license.

Trading with unregulated entities is extremely risky. Real firms are must be licensed with agencies like the SEC, ASIC, or FCA for your protection.

Itorotrade operates without this supervision. This means there is no legal recourse if they steal your money. Many investment fraud involve unlicensed entities, and recovering funds from them is challenging without professional help.

For example, in the UK, unlicensed firms are outside the jurisdiction of the Financial Ombudsman. In the US, they are not part of regulatory bodies, meaning your money is completely exposed.

How They Steal Money

Online trading fraud is getting smarter. Criminals use social engineering to steal your savings. Here are common methods seen in brokers like Itorotrade (itorotrade.com).

Pig Butchering & Romance Scams

"Pig Butchering" is a common tactic where scammers groom victims over months. They fake a relationship online. Once trust is built, they introduce a special crypto opportunity. It is a lie to get you onto a fake platform like Itorotrade.

The "Bonus" Trap

Fraudsters create websites that mimic legit trading apps. They have charts and profits that increase. But it is a game. The broker manipulates the numbers to convince you to deposit more. If you ask for a payout, the "profits" are gone.

Other Warning Signs

• Unsolicited Contact: They call you from "brokers" you don't know.
• Unregulated: The firm has no authorization.
• Guaranteed Profits: They guarantee 1% daily returns or risk-free trades.
• Withdrawal Issues: They refuse withdrawals. They demand "tax fees" before releasing funds.
• Pressure Tactics: Agents pressure you to deposit more.

Ignore positive ratings. Scammers frequently post their own 5-star comments to appear real.

Conclusion

Itorotrade is unsafe. It is likely a scam. Save your funds and find a regulated broker. Avoid itorotrade.com at all costs.