InterActive offers safe and fast trading on the financial markets using a top platform, as well as the opportunity to unleash potential. We see such offers from every other broker, but what does this organization truly represent? It’s an Irish brokerage firm without a license. Can it be reliable, or are we looking at another scammer? Reviews online are hard to find, so a thorough investigation is needed to reach a verdict.
Table of Contents
Highlights
| 🏛️ Country | Ireland |
| ⚠️ Regulation | – |
| 🖥️ Website | https://inter-active.io/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | 250 EUR |
| ⚖️ Minimum and Maximum Leverage | 1:400 |
| ⚙️ Trading Platform | WebTrader |
| support@inter-activ.io | |
| 📞 Phone | – |
First Impression of Inter-active.io
The official website of InterActive only brings to mind the thought, “We’ve seen this somewhere before”. Indeed, the site is designed using a template typical of many other brokerage resources. Moreover, all these other firms turned out to be scams. Will the subject of our review be an exception? That’s what we’ll find out.
At the top, there’s a panel with main sections about the platform, account types, the company, analytical tools, and other information. The main page is filled with pseudo-advantages and clichéd phrases. On InterActive’s website, you can see images depicting high technology, skyscrapers, charts, and traders’ monitors. Interestingly, the pictures showing quotes are taken from various periods. For instance, there’s Bitcoin at $9,000 on the homepage background, and right there, a phone displays prices where Bitcoin trades at $52,000.
The footer has the standard risk warning. Also, the site lacks specifics and details; InterActive’s activities are not revealed, nor are many essential trading conditions. Template-based, dull, and non-unique design – that’s how one can characterize the broker’s website.
Partnership and Bonuses
The company offers an affiliate program with generous commissions and support from managers. However, specific details about the affiliate program are not disclosed. Additionally, InterActive provides bonuses to clients. To withdraw the bonus funds, as well as the profit earned from it, a trader needs to achieve a trading volume equal to the bonus amount divided by 4. For instance, if a client received a $1,000 bonus, they would need to achieve a trading turnover of 250 lots. Moreover, there’s a time constraint – the bonus is valid for 60 days. Such conditions can hardly be called reasonable or achievable. Even experienced traders might find it challenging to meet bonus requirements.
Account Opening on Inter-active.io
Creating an account with InterActive involves providing your name, email address, country, phone number, preferred language, and a promo code (if available). You must also be at least 18 years old and agree to the terms of service.
Afterward, access to the personal cabinet is granted without email verification. The dashboard appears quite standard. Clients can view their current accounts, access the Webtrader, manage finances, upload documents, and edit personal details. Notably, a demo account in InterActive is not found.
Verification
Before making a deposit, the firm requests KYC verification. InterActive asks traders to provide a copy of their valid passport, including the signature page, copies of the credit cards used to make the deposit (front side showing only the first 6 and the last 4 digits, back side with the CVV covered), and a copy of a recent utility bill showing their name and address. Documents can be uploaded to the personal cabinet.
- It’s convenient to upload documents.
- The firm requires you to take a picture of your bank card.
Trading Software
InterActive’s trading platform is available across all devices: webtrader, desktop, and mobile. The terminal supports all types of orders, various graphical elements like lines, Gann, Fibonacci, arrows, and more, indicators, multiple timeframes, favorite asset lists, an economic calendar, multicharts, notifications, trading ideas, one-click trading, and a full-screen mode.
We didn’t risk downloading the platform onto a computer or mobile phone, as the download doesn’t come from official sources like the AppStore or Play Market. Running such programs can be risky, as there’s a chance of downloading a harmful virus. Moreover, the terminal doesn’t appear to be multifunctional or professional. InterActive offers software with evident limitations. For instance, there’s no option to upload custom indicators and chart setting templates, and it lacks advanced tools like clusters, horizontal volumes, open interest, and market depth. It’s doubtful that this platform can even compare to MetaTrader.
| Features | InterActive | IC Markets | FTM Trade |
|---|---|---|---|
| Demo Account | ❌ | ✔️ | ❌ |
| Mobile App | ✔️ | ✔️ | ❌ |
| Own Development | ❌ | ✔️ | ❌ |
How Can I Trade With InterActive?
The broker offers a diverse set of assets for trading: stocks, metals, indices, forex (majors, minors, and exotics), energy resources, and cryptocurrencies. All instruments are available only as CFDs. Additional services from InterActive depend on the account type chosen by the client.
All Info About Accounts
InterActive offers three types of accounts:
- Silver. The minimum deposit is 250 euros. Tarif includes leverage up to 1:200, access to 200+ instruments, financial analyst advice, and full trading tools.
- Gold. From 500 euros. Leverage up to 1:300, and additionally a dedicated account manager.
- Platinum. From 1,000 euros. Leverage up to 1:400, and round-the-clock analytical support.
The leverage of 1:200-1:400 suggests the broker lacks a license. It is because regulated brokerage firms cannot offer such high leverage; it’s often capped by regulators at 1:30. Additionally, the minimum deposit of 250 euros is high, especially when compared to what more renowned and popular firms offer. After all, with some, you can start trading with as little as $10. And there’s the classic division of rates into several account types, which is frequently seen with fraudulent brokers. InterActive also operates on the principle of “pay more to get more additional services”.
The broker claims to have ultra-low spreads and zero commissions. So, how does InterActive generate profit? For a brokerage intermediary, the sole source of income is commissions. However, they’re claimed to be zero here. The answer to this question lies in the dealing desk business model. The company doesn’t care about how much clients pay in commissions because it profits when a trader loses money. In other words, the organization acts as a counterparty against the user. It is a clear conflict of interest. Also, it’s worth noting that InterActive lacks a demo account and a swap-free option.
- None.
- High minimum deposit.
- No demo and swap-free accounts.
- Dealing desk business model.
- The broker works on the principle of “pay more – get better”.
Market Analysis and Education With Inter-active.io
The company offers several additional services and widgets. These include a list of exchange tickers, technical analysis, real-time crypto markets, market quotes, trading hours, and an economic calendar. InterActive also provides basic information about the traded asset classes and offers an FAQ section.
Deposit, Withdrawal, and Fees
Deposits and withdrawals at InterActive can be made using bank cards and bank transfers. E-wallets are also mentioned as a method of transferring money, but they are not found in the personal account. The broker promises that withdrawal requests are processed on the day they are submitted. However, the fees are not disclosed.
| Features | InterActive | Lig Broker | StockHome |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ✔️ | ❌ | ❌ |
| Crypto Transfers | ❌ | ❌ | ✔️ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ✔️ | ❌ |
How Can I Contact It?
Regarding contact information, InterActive only provides an email address. There are no phone numbers, social media accounts, or online chat available. It is a rather limited set of ways to get in touch with the broker’s representatives. It won’t be possible to contact customer support promptly, and via email, issues tend to be resolved very slowly.
- None.
- Phone, online chat, and social media are not available.
Is InterActive Dangerous?
As of now, we haven’t found any major red flags, but the firm still didn’t impress us. The trading conditions at InterActive are just like any other broker, and it’s already clear that we’re dealing with a dealing desk. The platform also doesn’t seem to be a professional or top-tier terminal, even though there were bold claims about it. What remains is to determine the company’s legitimate status and its duration of operation to conclude.
How Long Does The Broker Work?
The duration of operation is an essential aspect of any organization’s activity. Like any other scammer, InterActive hides its founding date. There are also no legal documents that could shed light on the company’s operational duration. However, the website’s domain was registered only on August 16, 2023. So, talking about any significant experience is out of the question.
How Is InterActive Regulated?
It is an Irish broker, so to check for a license, one needs to refer to the Central Bank of Ireland. InterActive is not found in this regulator’s registry, but there is the well-known brokerage firm Interactive Brokers. It seems that the scammers chose this particular name for a reason.
| Features | InterActive | Oanda | NPBFX |
|---|---|---|---|
| European Zone | ❌ | ✔️ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ✔️ |
| Offshore | ❌ | ✔️ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With InterActive?
Is InterActive Legit?
How Risky Is It?
Kevin Berry Avoid getting involved with illegal brokerage firms, as they can deceive you. You won’t even be able to trade profitably here because the broker will be working against you, as their only income is your money. Moreover, scammers deliberately chose the name InterAcitve, which closely resembles the name of one of the oldest and most well-known stock brokers. Even finding reviews online is challenging because search engines yield entirely different results. It’s worth noting that the firm lacks any legal documentation, which is another crucial point. In short, steer clear of this scambroker.
InterActive rating
4 reviews about InterActive
What’s there to comment on? They steal money, there’s no license, legal documents are missing, and the trading conditions are terrible and unfavorable. I see no reason to speak positively about Interactive.
Please… don’t invest money in this scambroker… these scammers and swindlers won’t return my money… I have 450 euros stuck in the balance, which is what’s left from a 1000 euro deposit… these scammers keep giving me the runaround, or rather, they used to, but now they’re completely ignoring me… there’s no response from them, and the withdrawal function doesn’t work… it’s a classic fraud scheme that I foolishly fell for 🙁
The broker operates without a license, so under no circumstances should you trade with them. Only when the company obtains a license can you consider it; until then, don’t even think about opening an account. There’s a high likelihood that InterActive is a scam operation that steals people’s money. The website appeared recently, just a couple of months ago. Everything points to this being a fraud project designed to scam trusting traders and investors.
I can’t say this is a wonderful or profitable broker. I traded here a few weeks ago. I deposited the minimum amount of 250 euros to test the platform. I didn’t download it to my PC, so I opened the webtrader and started trading. By the way, it’s unfortunate that InterActive doesn’t offer a demo account.
Trading immediately went south. There were significant lags and wide spreads, even though they promised ultra-low spreads. In short, I lost my deposit because it’s impossible to trade under such conditions. I reached out to InterActive’s support several times, but there was no response; they don’t even seem to want to reply.
The service is terrible. The conditions are even worse. I wouldn’t recommend this firm. I realized that their platform and charts are fake. In fact, the whole company seems fake.