If you are looking for a reliable and trustworthy online broker, you might have come across In369. This is a relatively new platform that claims to offer a wide range of trading instruments, competitive fees, and advanced tools. But is In369 legit or a scam? In this review, we will examine the features, pros and cons, and reputation of In369 to help you decide if it is worth your time and money.
What is In369?
In369 is an online broker that was launched in 2020. It is owned and operated by IN369 Limited, a company registered in St. Vincent and the Grenadines. According to its website, In369 has offices in London, Hong Kong, and Singapore, and serves clients from over 100 countries. The broker offers trading on various assets, such as forex, stocks, indices, commodities, cryptocurrencies, and ETFs. It also provides access to CFDs (contracts for difference), which are derivatives that allow traders to speculate on the price movements of underlying assets without owning them.
What are the features of In369?
- A user-friendly and intuitive web-based trading platform that does not require any downloads or installations.
- A mobile app that is compatible with iOS and Android devices and allows traders to access the markets anytime and anywhere.
- A variety of trading tools and indicators, such as charts, news, economic calendar, signals, and market analysis.
- A range of account types to suit different levels of experience and budget. The minimum deposit required to open an account is $250.
- A selection of payment methods, including credit/debit cards, wire transfer, e-wallets, and cryptocurrencies.
- A customer support team that is available 24/7 via phone, email, live chat, and social media.
- A comprehensive education center that offers webinars, videos, articles, e-books, and courses on various aspects of trading.
Is In369 legit or a scam?
The most important question that traders need to ask before choosing a broker is whether it is legit or a scam. Unfortunately, there is no definitive answer to this question when it comes to In369. On one hand, the broker has some positive aspects that make it appealing to traders, such as its variety of assets, low fees, high leverage, and user-friendly platform. On the other hand, the broker has some red flags that raise doubts about its credibility and safety, such as its lack of regulation, transparency, and reputation.
Regulation is one of the key factors that indicate the legitimacy and reliability of a broker. It means that the broker has to follow certain rules and standards set by an official body that oversees its operations and protects the interests of its clients. However, In369 is not regulated by any well-known authority, such as the FCA (Financial Conduct Authority) in the UK, CySEC (Cyprus Securities and Exchange Commission) in Cyprus, ASIC (Australian Securities and Investments Commission) in Australia, or NFA (National Futures Association) in the US. Instead, it is registered in St. Vincent and the Grenadines, which is a notorious offshore jurisdiction that does not have any strict regulations or supervision for financial services providers. This means that In369 can operate with minimal oversight and accountability, and may not comply with the best practices of the industry.
Transparency is another factor that reflects the trustworthiness and professionalism of a broker. It means that the broker provides clear and accurate information about its background, history, ownership, legal status, services, fees, and policies. However, In369 does not disclose much information about these aspects on its website or elsewhere. For example, it does not mention who are the founders or owners of the company, how long it has been in business, what are its financial results or performance, or what are its risk warnings or terms and conditions. This makes it hard for traders to verify the authenticity and credibility of the broker.
Reputation is yet another factor that influences the perception and confidence of traders towards a broker. It means that the broker has a good track record of satisfying its customers, resolving their issues, and honoring their obligations. However, In369 does not have a good reputation among traders, as evidenced by some negative reviews and complaints that can be found online. Some of the common problems that customers have reported include:
- Difficulty in withdrawing their funds or profits
- Unresponsive or rude customer support
- Manipulation of prices or spreads
- Unauthorized charges or deductions
- Account closure or suspension without explanation
In conclusion, In369 is an online broker that offers a wide range of trading instruments, competitive fees, and advanced tools. However, it is also an unregulated, non-transparent,
and poorly reputed broker that may pose a high risk to traders. Therefore, we advise caution and due diligence before signing up with In369. Alternatively, you may want to consider other brokers that have more solid credentials and reputation in the market.
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