What Is Intrade Bar？
Intrade Bar LTD, founded in 2016, is a trading platform registered in Saint Vincent and the Grenadines. This broker operates without regulations.
Pros & Cons
Pros:
Demo Accounts Available: Intrade Bar offers demo accounts, allowing users to practice trading strategies and familiarize themselves with the platform without risking real money.
App Available: The availability of a mobile app allows users to conveniently access their trading accounts and monitor the markets on the go.
Live Chat Available: The inclusion of live chat support enables users to receive immediate assistance and resolve queries efficiently.
Low Minimum Deposit: With a low minimum deposit requirement of just 10 USD/ 500 RUB, the Intrade Bar makes trading accessible to a wider range of individuals.
Cons:
No Regulations: The absence of regulatory oversight raises concerns about the platform's adherence to industry standards.
No Phone Calls: The lack of phone call support is perceived as a limitation for users who prefer direct communication or assistance over the phone.
Is Intrade Bar Legit or a Scam？
Regulatory Sight: Intrade Bar is currently without regulatory oversight and any licenses that would enable it to conduct its operational standards in the financial market. This lack of regulation poses numerous risks to investors, such as a lack of transparency, security concerns, and no guarantee of adherence to industry standards and practices.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: Intrade Bar employs risk management tools to enhance security and protect traders' funds. These measures include automated systems that allow users to set predetermined trading limits, such as stop-loss orders, to minimize potential losses.
Market Instruments
Intrade Bar offers binary options as a market instrument for generating income. Binary options involve predicting the movement of a specific asset within a defined time frame. If traders' prediction is correct, they earn a fixed payout.
Account Types
Intrade Bar allows users to practice trading using a demo account.
For real accounts, Intrade Bar provides two currency options: USD accounts and RUB accounts. The minimum deposit requirement for USD accounts is $10, while for RUB accounts, it is 500 RUB. Additionally, Intrade Bar allows different bet sizes based on the chosen currency - for USD accounts, the minimum bet is $1, and the maximum bet is $700; for RUB accounts, the minimum bet is 50₽, and the maximum bet is 50,000₽.
Commission
There is no commission charged for replenishment transactions.
For withdrawals to cards, there is a commission of 80 RUB plus 3% of the withdrawal amount. For withdrawals to e-wallets, the average commission is 3.5% of the withdrawal amount.
Intrade Bar offers a unique commission reimbursement policy for withdrawals exceeding a certain threshold. If the withdrawal amount is 7000 RUB/$100 or higher and the trading turnover after the final replenishment surpasses 150% of the initial deposit amount, Intrade Bar replenishes the withdrawal commission at their own expense. Consequently, the trader is credited with the exact amount they requested for withdrawal, effectively eliminating the withdrawal commission.
Trading Platform
Intrade Bar offers a user-friendly trading platform accessible via their dedicated mobile application. This app can be downloaded on Google Play via the link: https://drive.google.com/file/d/1OzSUh47MsEKqQJtbvl7M2UQOw7qEBINO/view.So traders can access the platform's features and execute trades on the go.
Deposit & Withdrawal
Traders can use the same methods for both actions. Accepted deposit and withdrawal methods include MasterCard, Visa, MNP, Tether, etc. During specific timeframes, namely in the evening from 17:00 to 23:00 Moscow time, as well as 5 minutes before and after the start of each hour, and in the period 23:25-23:35, transaction amount restrictions are imposed. During these times, the maximum transaction amount for deposits is capped at 3500 RUB/$50 each.
Customer Support
Intrade Bar provides several customer support channels including live chat, email (support@intrade.bar), and Telegram. However, it is stated on their official place that they do not call their customers and they only write. Additionally, the company operates during weekdays from 3:00 to 23:59 Moscow time.
Conclusion
Intrade Bar is a broker focusing on binary options, with live chat and demo accounts supported. They charge a low minimum deposit, but the transaction fees are quite high. We do not recommend users to trade with this broker.
Frequently Asked Questions (FAQs)
Question: Is Intrade Bar regulated or not？
Answer: No, it is not regulated.
Question: Is there a replenishment fee charged？
Answer: No.
Question: What is the minimum deposit required？
Answer: The minimum deposit required is 10 USD or 500 RUB.
Question: Can I use a demo account to practice？
Answer: Yes.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
