Stay Away from Illegal INTRGROUP That Blocked Withdrawals

Broker: INTRGROUP

Regulatory status: unregulated

Complainant: anonymous

Cause of complaint: investor cant withdraw

Before finding out the truth, victims of forex scams often have the false impression that the scammers appeared to be nice and helpful, and it is exactly such illusion that illegal brokers are good at creating. Tricked by the broker's considerate services and warm attitude, investors easily drop their guards without realizing that they have fallen into a trap. Recently, WikiFX got a complaint from an investor who couldn't withdraw from INTRGROUP after profiting.

Event recap

3 months ago, the complainant made a US$250 deposit at INTRGROUP and opened a standard account with 1:10 leverage. Later the client manager contacted him and suggested him to deposit more money in order to get better leverage rate and profits. The complainant was persuaded into depositing a total of US$4,000.

At first the investor frequently experienced losses as he wasn't very experienced. The client manager would contact him once a week and help investor make profits through higher leverages, while explaining to him the pros and cons of high leverage. In addition, the manager also recommended some analysts in order to help the investor improve his skills through understanding indicators and technical analysis. After several months, the investor earned about US$8,000 through trading and upgraded to “Silver Account” with 1:20 leverage, which the investor thought was acceptable.

However, he soon ran into trouble with withdrawals. On March 10th, the investor filed a withdrawal application, and according to “Terms and Conditions” of the broker withdrawal processing usually takes 4-7 days. But strangely enough, after waiting much longer than the suggested time, the investor still couldn't make his withdrawal.

He tried to contact the broker and reached out to 3 different staff of the company, but they either asked him to wait or pass the buck to other divisions of the company, offering him no solution for the withdrawal failure.

Confirmation of investor's account registration

Investor contacted the broker several times about the withdrawal issue but couldn't get any concrete solution.

About INTRGROUP

INTRGROUP was established in 2019, and the broker offers financial products and services such as shares, commodities, indices, forex and cryptocurrencies with alleged low spreads among other advantages. But after checking relevant information from public sources, WikiFX failed to find any regulatory information of the broker, while its claims about client fund security couldn't be confirmed.

Conclusion

According to WikiFX App, broker INTRGROUP is currently unregulated, having been in business for less than a year and rated at only 1.02 on WikiFX App. WikiFX suggests investors to stay away from this unreliable broker.

Up to now, WikiFX App has included profiles of more than 17,000 global forex brokers. If you have any question about a broker's qualification, you may check the broker's profile on WikiFX App. WikiFX has also released the new feature of “Wiki Fair”, a forum where investors can discuss forex trend and expose illegal brokers.