SCAM Ideas Trade – how is money being cheated here?

On its website, Ideas Trade offers to gain invaluable trading experience in working with CFDs and learn how to monetize market events. For three years of operation, the service allegedly managed to earn a reputation as a reliable broker and open over 256,500 accounts.
What is the scam from this middleman, and what scams is he associated with?

Ideas Trade facts and legal documents

The creators of the project are an active group of fraudsters who have been engaged in professional money scamming since time immemorial. She is the author of scam projects HE-LLC, SBS LB, Trust Meridan, e-MU and dozens of others. Fraudsters from Ideas Trade are posing as an overbought domain, the same type of site structure and an allegedly existing license from the regulators IFSC, CySEC and FSC Mauritius.
Sharashkin’s office was launched in February 2021, and from the same time the first negative reviews began to appear about it. The scammers show the registration certificate in the territory of Saint Vincent and the Grenadines, but in the agreement they indicate the Republic of Vanuatu. The office is not listed in any register of regulatory authorities.

Contacts for communication and user reviews

In order to save themselves from communicating with deceived investors, crooks predictably provide fake phone numbers. You can contact the managers of the Ideas Trade broker only by e-mail or through the callback request form. However, according to traders, it is better not to hope for an answer.

Users assure that this is a deception. Scammers impose balance replenishment, imitate trading activities and after a while they drain the deposit, taking money for themselves. None of the clients managed to withdraw funds.

Official website and trade offers

As mentioned above, trading is simply imitated here – to maintain the illusion of activity, attackers use the WebTrader terminal. Users are offered over 200 CFDs on currency pairs, metals, stocks, commodities, indices and cryptocurrencies.
And although the broker promises loyal conditions for beginners, there is no demo account on the platform. Scammers lure with such offers:

• real-time market statistics and quotes;
• risk control systems and deposit insurance – Ideas Trade does not provide details anywhere;
• no commission for withdrawing funds – in the user agreement it is noted that in return the scammers do not allow the withdrawal of profits within 20 days after the account is replenished.

Ideas Trade trading accounts and bonuses for traders

Sharashka does not offer any bonus programs, promotions or discounts – this, of course, is for the best, given the fraudulent nature of the project as a whole. There is no specifics about margin requirements at all; the site also lacks tools for fundamental and technical analysis.
There are only three trading accounts to choose from:

As reported by Ideas Trade reviews, scammers are counting on attracting gullible users who have no idea about trading. Such cooperation with Sharashka always ends with a complete loss of the deposit, so you should not be carried on with sweet promises of fabulous profits.