Imperial Finance
An Illicit Broker Blacklisted by Regulators
Imperial Finance is the company owned by Waltika Partners Limited.
Waltika Partners Limited is a company registered in the Saint Vincent and the Grenadines region. We have found that the company has another website for the same trading business with the same address.
Blacklisting by CONSOB
The Commissione Nazionale per le Societa e la Borsa (CONSOB) is the financial regulating body of Italy. It regulates the Italian stock exchange and the securities market. It has also issued a red-flag against Imperial Finance.
Blacklisting by The Danish Financial Supervisory Authority (DFSA)
At the start of the year 2020, The Danish Financial Supervisory Authority has blacklisted the Waltika Partners Limited for any type of trading transactions. It is responsible for the regulation of the Denmark financial markets. It is the regulating body for all financial institutions in Denmark.
Blacklisting by FSMA
The Financial Services and the Markets Authority (FSMA) is responsible for the financial markets of Belgium. It supervises the financial service providers and the intermediate agencies as well. FSMA has reported against the unlawful activities of Imperial Finance.
The area of Saint Vincent and the Grenadines is governed by the SVG Financial Services Authority. Imperial Finance is procrastinating to be regulated with the SVGFSA which is totally false. The SVGFSA does not extend a regulation license to any forex trading companies. The same has been clarified by the SVGFSA over their website.
The Caribbean area is weak at its rules and regulations and best for illegal tax-evading procedures is the prosperous location of scam companies. While they easily promote the name of SVGFSA, the investors must investigate the regulatory body before starting any type of business. A regulation must be properly abbreviated as a license of forex trading provided by the same location governing body.
So, in my Imperial Finance review, I conclude that the trading business of the Waltika group is an unregulated offshore broker company. It has been banned by a list of top regulating bodies of forex businesses. The company has not taken any strong measures after this ban even.
High Investment Trading Accounts with False Spread
Imperial Finance is into forex, stocks, commodities, and CFDs. The company does not provide any demo or free account to the traders. Let us have a look at the live accounts of the company.
- Classic Account: This is the basic trading account of the company. No information is provided about the leverage ratio. Leverage ratio is the direct indicator of the security of the funds; hence the company itself is hiding the information, even in its basic product. The minimum deposit amount to open the account is set to $1,000. It is a very bad step to attract the inputs from the investors without providing proper trading conditions.
- Investor Account: An amazing minimum deposit of $5,000 will let you own the company’s investor account. The leverage promised here is 1:100. It is quite high as compared to the competitor’s leverage ratio with much lower minimum deposit requirements. Ideally, the leverage ratio, in any case, must not go beyond 1:50.
- VIP Account: It invites a minimum initial investment of $ 10,000. The leverage ratio and the spreads are still not clear.
Since the company does not have an option for a free demo account, the Imperial Financial review tries to test the waters using the MT4 platform itself. There is a contrast in the company’s commitment to spreads starting from 0 pips only. The benchmark spread for the most common USD/EUR pair has never come down from 1.9 pips. It is a clear difference of 1.9 pips which is very high considering the profits and security of the money. It is a clear case of false commitment.
MT4 Trading Platform
The MetaQuotes Software Corporation has effectively delivered a world-class trading platform to the investors. MetaTrader 4 is best in terms of expert advice, financial markets analysis and forex trading. MT 4 has revolutionized the trading industry.
The facility of a demo account on MT4 lets us uncover the false promises of Imperial Finance. The newcomers can learn the basic skills of trading using the account and expert analysis of the platform. The technical indicators, trading signals, and the analytical objects help to forecast the trading directions. While it is simple to understand and apply, it is the standalone quality trading software in the market.
Disingenuous Deposit and Withdrawal
Let us get you through another couple of reasons why the customers gripe over the Imperial Finance services.
The deposit of funds must be easy. Imperial finance has not provided any policy for trading conditions but has drafted one for the process of deposit of funds. There are various channels like e-wallets Neteller, Skrill, etc and card transfers and bank wire transfer for the investor to deposit the money in their respective account. It will take an unusual time of a minimum of 5-6 days for the same funds to be shown into your trading account. It is a high response time and indicates the wrong use of funds also.
In addition to this, if you do not trade for 6 months, your invested amount will be deducted by the company at a rate of 10% per month. It is a win-win situation for the company only.
The withdrawals have no other story to share. The company is charging processing and withdrawal handling fees. If this is not enough, the investor is heckled for his own money, by asking for documents which are not necessary at all while the person is already trading with the company. It is another tactic showing the reluctance of the company in processing withdrawals.
There are minimum withdrawal limits set as $250 for bank wire and for other methods is $100. The company does not let the investors withdraw their full amounts. The icing is the withdrawal fee set by the company. When you are withdrawing funds, you have to pay $50 for bank wire, $ 35 for a credit card, and $ 25 for e payment channel.
Overall, while depositing money, you have to wait for 5-6 days before you start trading and you need to pay the withdrawal fees starting from $25 and you can not withdraw less than $100 in any case. If the company would have written the same line on its website, no investor would have opted for the Imperial Finance trading accounts.
No Effective Customer support
A UK based number is provided on the website. There is no option for live chats, 24*7 technical support team availability, or any other Skype call of phone call numbers.
Lately Updated Social Media Accounts
Imperial Finance is active on Facebook on the page @ImperialFinanceGroup. It is found to have a few members and followers. Moreover, the page is not regularly updated. Last update was found to be done 2 months before.
It has zero followers on Instagram and no account on Twitter. Least can be expected about the value of online reputation from active social media presence as the company already disappoints us with a badly managed website.
Imperial Finance Review: Conclusion
Imperial Finance is a badly managed company, which profits at the loss of its investors. Needless to say, that is why it has been already banned by the top financial regulating authorities. Fake commitments, fake spreads with high leverages, no active customer support makes it the worst dream of the investor. In total, I can’t recommend their services in this Imperial Finance review.
References:
- https://imperial-finance.io/
- https://www.dfsa.dk/News/Advarsler-fra-andre-tilsynsmyndigheder
- https://www.consob.it/web/consob-and-its-activities/warnings?viewId=ultime_com_tutela
Jason Callan
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