Read our Inefex review to see if we recommend this broker for trading. Just to clear doubts, this is an inefex.com review. The website is similar to investmarkets.com and we believe that they are the same people. We received many complaints for investmarkets.com which you can read the review and the comments for yourself here investmarkets.com review.
Who are they?
After taking a look at their website, they say are regulated in Mauritius. The only reason why forex companies seek an offshore regulation is because they do not want to follow the strict rules of prestigious regulators like the FCA, CYSEC, BaFin etc. Not having tough regulation rules leaves room for manipulation of the clients’ funds, so whether they will abuse with your funds or not is up to their moral principles.
Secondly you should know that these types of companies that are regulated offshore do not have the right to work with clients that are residents in the European Union, United Kingdom or USA. So, if you reside in one of these countries and they are calling you to invest with them, something is fishy. If you want to know how to tell if this company is a scam or not, keep reading.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How to tell if it’s a scam?
Usually, scam forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you. After you get transferred to the retention department, they will ask more and more money every time they call you. Keep in mind that no reputable company will do that, so if you see these signs, you are probably dealing with a scam company.
Withdrawing funds
Another way to test if you are dealing with a scam company is asking for a withdrawal. Submit one and wait for their response. Reputable companies should send the funds back to you in at least 5 business working days at most, depending on the method of withdrawal. If they give you the run around and are making excuses every time you speak to them, they are definitely a scam and they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen if they are a scam, don’t worry, it might be a way or two to get your money back.
First of all, you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money. Then you should forward the conversations to the regulation agency and wait for their response. This is your best chance of getting your money back but again, since the offshore regulators do not have strict rules, you might end up empty handed. If this is the case, please follow the other methods below to try to get the money back.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is refusing to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies in your country. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Inefex in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim, please leave a review and a comment on this site at the comment section. Also, when these people change their website, they tend to call the old clients, so if they call you from a new website, please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also, if you get phone calls from other companies, please put the name of these companies also in the comment or send it to us. We will expose them too.
Inefex Review Conclusions
Making the Inefex review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard-earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Inefex review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade, please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
I was conned exactly the same way as the complainants expressed.
I want my heard earned money back.
This company is a big FRAUD. Be careful before u invest money here. U WILL NEVER GET UR MONEY BACK. My hard earned money they took by giving false hope. I want to get my money back.
Date of experience: December 07, 2023
(1/5)
Dear Mousoumi,
We would like to inform you that you case has been resolved.
Please keep our email [email protected] in case you need any further assistance.
Kind Regards
Inefex Support Team
Big Scam.
(1/5)
Fraud Company, i lost $50k
This is a fraud company, i lost $50k, please save your hard earned money.
First they will show some profits then they will make you add more money and keep asking you to upgrade your account, then they will make you loose your money, then again they will call and ask to add more money to recover the lost money by telling you that there is a report coming and there is an opportunity to recover all the lost money.
If you add money and lost, please donot add more by coming in to their trap with the hope to recover the lost money.
Here are some names who worked with me
Taha, Ajay, Siddharth, Raza
They will call one by one saying account manager, equity manager, recovery manager,…
Sir,
It happend to me yesterday….I had total of $5000 on platform account
But they convinced me the reason croil market crashed during my trade…
Exceeded my total amount to loss.
Now they are ready to recover the money adding additional fund from me..
It was hard earned money.
plz don’t add, whatever money you add, it will be the same, they will make you loose everything and then they will not respond, i am writing reviews in different applications to atleast save people from this fraud whoever reads them, but my reviews are removed from some applications like trustpilot and wikiFX
Same happened to me the same exact scenario with the report and recovering the money!
Did you raise a charge back? Or what will you do?
Is there hope we get our money back!
Hi did you inform to the police about this or taken any action
Fraud
(1/5)
Dear clients,
We sincerely apologize for the experience you had with Inefex. Our primary aim is to offer consistently dependable services along with exceptional customer support. In light of this, we kindly request that you reach out to our company directly at [email protected]. Please provide us with the necessary details and information about your inquiry. We earnestly seek the opportunity to address and resolve the issue promptly. We hope you will consider allowing us to engage in a conversation to discuss the situation further.
Warm Regards,
The Inefex Customer Care Team
I have also being conned by them and they seized USD 2100 from me, now they are not responding to my emails and their chat system is bogus, I am already making loss and in big financial crisis, I want to recover my money, please help
I had a bad experience with this inefex.I invested 200 dollars but after talking to them I felt they are not honest .I wrote several emails they are giving lame excuses and not got my money.
I have also being conned by them and they seized USD 2100 from me, now they are not responding to my emails and their chat system is bogus, I am already making loss and in big financial crisis, I want to recover my money, please help
(1/5)
R u people serious or taking Indians for rideCA rahul kelkar invested 400usd all still the same no movement
Stay away. I withdrew R10000 on 22 January 2024. R6520,75 was paid into my account. The remaining R2850 I am still waiting for 17 days for the payment, even though they already have the information of 3 of my bank accounts. They claim it takes 72 hours or 3-5 days to pay in the withdrawal but it is now 17 days and I am still waiting for my R2850.00
(1/5)
Big Fraud please don’t make any payment to them
FRAUD, SCAM ALERT
This company is a huge fraud I lost more than 100K
And they still call me, to invest more, I have raised a charge back through a very legitimate company, very responsive and good with what they’re doing! But those cases take time so I need to wait for another couple of months till I see any results!
Please if you got scammed by this company raise a charge back through a legitimate company, I think this will make our cases stronger to get our money back
DONT INVEST WITH THEM, DONT DEPOSIT A PENNY WITH THEM!!!!!!
(1/5)
Thank.you for all the comments.
I had requested a closure and refund the deposit US$250 paid 2 days ago.
I told the account manager about it, he is unhappy and no time to discuss it with me. He is eager to show me to platform. How easy money rolling in. He asks me to wait for customer service to handle my account closure request.
Don’t believe inefex trading platform, cons of the trading platform as follows:
1.the company and the accounting managers are a total different entity. If anything goes wrong inefex nor account managers are made responsible.
2. No personal contact information about the account managers is given. We cannot contact them but the can contact us with different numbers everytime.
3. i believe the access to the trading account is also with account managers.
4. Unreasonable demands for deposit money by account managers after making poor choice of trades to lose money and demanding us to deposit money for maintaining the account.
And many more cons goes on and on please don’t believe this trading platform which made me lose 11500 usd making poor choice of trades and having account managers access the account behind our back to close lose trades and demand money. I hope this helps other people in making rational decision with their hard earned money
This company is a big FRAUD. Be careful before u invest money here. U WILL NEVER GET UR MONEY BACK. My hard earned money they took by giving false hope. I want to get my money back.
(1/5)
I have worked on a charge back from the bank with a company called my charge back, I’m in the process of now, and waiting for the bank to get back to me!
Please raise a charge back, I have raised a charge back and waiting for the bank to get back to me!
Big Scam
Very bad experience. Please do not trust and invest in this. Their trading platform is a big waste and their so called “senior account manager” who claims to assist is a big un reliable person. Does not explain you all the details and does not bother to respond on time which will make you lose all the money deposited. They simply force you to deposit money without clearly explaining the terms and conditions. There are very good other platforms which can be used. Please Please do not use this inefex. It is a fake company. The phone numbers they call from are not active the very next moment. They do not respond to your queries on chat. There is no way to contact them
(1/5)
WARNING !!! DO NOT INVEST ON THIS !
MY TIME AND MONEY WASTED !
I CANNOT WITHDRAW THE CASH AT ALL !
TRIED TALKING TO THE GUY ON THE PHONE AND THE FELLA ON THE OTHER END WILL NOT LISTEN AND KEPT ON SAYING THAT I AM LYING TO HIM !
NO POINT CALLING BACK AS THE PHONE NUMBERS THEY CALLED ARE EITHER NOT ACTIVE OR IT IS SOME RANDOM CITIZEN’S NUMBER !
F U C K I N G
S C A M
Fraud Platform managed by highly trained cheaters.
Here is a brief review.
1. The platform starts by giving half of our investment as credit. It is ideally of no use. This is just showoff.
2. They will never tell the withdrawal process and always remind us not to do anything without telling them.
3. They make you do trades in a hurry without giving any clarity that the margin level might go down and the account might go at risk.
4. Trades they make us do hardly make profits.
5. They assure you that they will help in withdrawing the money by EOD every time and by EOD some other guy connects with you saying I am the earlier guy’s boss and the process repeats.
6. Apart from the initial mentor who connects with you, there is no other email, number, or any other way to contact in case any issue.
7. You get calls from the finance department only to give margin level down warnings, to invest more, or to tell that we lost money. They hardly care what earlier happened to us.
8. They refuse to share any other support email ID or any other information making us helpless.
9. When we force on asking for a withdrawal process, they come with DOD. Some document with incomplete information of our transactions. Most of our transactions will be missing.
10. They shout, yell, and make us vulnerable to do trades/ invest money.
11. At the end, they intentionally bring down the margin level soo down that the amount becomes 0 on their platform.
12. The finance department next day calls and says money is lost and either go for recovery or settlement process in which either way we still need to add money to the website. They do not give any kind of surety whether we can recover the money or whether they settle the money.
14. They talk very rudely when we start asking them serious questions.
15. They keep calling us asking whether we are ready for the recovery/settlement process which tells that they want to loot people as much as possible.
16. They say that it is a licensed company but nothing is clear. No clear process and very big fraud company.
I suggest not to invest any kind of money here. If invested already, red flag all the accounts to which money was transferred from your banks and review this fraud company on as many websites as possible.
(1/5)
This site/company is a fraud company & all employees are bastards. Don’t trust them. They are absolutely nasty. Believe my words. Don’t invest a single rupee.
Hi Team,
Thanks for sharing useful information and online review on Inefex.
I saw your message on the fraud by Inefex and would like to know how to get the money back.This looks like a real scam and fraud happening in the name of trading platform.
I don’t know if Inefex is a legal entity but it’s banned by RBI in India for forex trading.Something is not 🚫 right.There is serious lack of Inefex customer support as is the norm with all online investment companies.
I received call on 11th April and they asked to deposit 200 USD & they will add bonus of USD 100.I became suspicious as whenever I try to call back no one responds and everytime I am getting a call from different number.
I hope you understand my predicament as I have never done such fast online trading.Its beyond my level of understanding and is causing me to miss my work deadlines with frequent disruptions in my work.The multiple numbers of calls are interfering in my office work. I am totally harassed by Inefex team.I am already in huge debt situation because of such mindless investments in very RISKY currency and commodities stock market which are very risky.The account manager – AMNA and Senior Account Manager -AHMED is forcing me to invest and deposit more funds 1000 USD without my understanding and willingness .This is a serious situation when there is no confirmation or verification of the trade.The person tried to win my trust by landing profit of 5 dollar 💰 investment and 30 USD.But it all looks fixed.
[email protected]
[email protected]
This is very serious situation, big disturbance to my work and breaks my peace of mind giving me sleepless nights.
Please help me out how I can recover the amount already paid by credit card and if they misuse my identity card.Aldo, I want to raise concern with RBI/ SEBI.
Hope to receive your reply.
(1/5)
hello , i learn lesson myself.. i m sad my loss $2387.80 and 595.10 for netlink. why person kim help choose netlink two for me ? david ‘s friend kim. so they fraud and scam you… warning , you dont deposit $250 then $1000 again $1000… they never to return back money …. i m poor …please please please….help inform you know this .
(1/5)
I’ve heard about this before. That’s very unfair, had a very similar experience too before.