Is Imperial Trade a Scam?

At FXCanary, we treat broker safety as a function of verifiable regulation, client fund protection, and the real-world experience of traders who have deposited money. A broker can have a polished website and a long list of tradable assets, but if it lacks a credible licence and users report being unable to withdraw, those factors outweigh any marketing claims.

Our assessment begins with regulatory status. We cross-check the broker's stated licences against the official public registers of the relevant financial authorities. Where a broker claims to be regulated but no licence can be found, we treat that as a critical red flag. We also examine the legal structure, the jurisdiction in which the broker operates, and whether there is any form of compensation scheme that would protect client funds in the event of insolvency or misconduct.

The second pillar of our assessment is the user record. We aggregate and analyse reviews from multiple independent platforms, looking for patterns in complaints about withdrawals, fees, platform behaviour, and customer support. A single negative review can be an outlier, but when multiple users describe the same problem, such as being blocked from withdrawing funds, we treat that as strong evidence of a systemic issue.

For Imperial Trade, our analysis has produced a FXCanary Scam Risk Score of 75 out of 100, which we classify as 'Severe'. This score is built from the absence of any verifiable licence, the concentration of negative user reviews around withdrawal failures, and the absence of any positive feedback across the topics we track. In the sections that follow, we explain exactly what this score means for a trader considering depositing money with this broker.

Our review of Imperial Trade found no verified licence on file with any financial regulator. The company description states that the broker was set up in 2017 in Spain, but being based in a country does not mean it is regulated there. We checked the public registers of the Spanish securities regulator (CNMV) and found no authorisation for Imperial Trade to provide investment services.

This is a significant concern. A regulated broker is required to meet minimum capital requirements, segregate client funds from its own operating funds, and submit to regular audits. Without a licence, none of these protections apply. If Imperial Trade were to become insolvent or simply disappear, clients would have no recourse to a compensation scheme, and no regulator would intervene on their behalf.

The absence of regulation also means that Imperial Trade is not subject to any conduct rules regarding fair treatment of clients, transparent pricing, or timely execution of withdrawals. In our assessment, the lack of a licence is the single most important factor in our severe risk rating. We note that the company description itself admits that the broker is 'not under any regulation', which is a rare and telling admission.

For traders, this means that any funds deposited with Imperial Trade are entirely at risk. There is no safety net, no ombudsman, and no legal requirement for the broker to act in the client's best interest. We would strongly advise against depositing any money with an unregulated broker, regardless of the promised returns or the quality of the trading platform.

Client fund protection is a cornerstone of broker safety. In regulated jurisdictions, such as the UK or the EU, brokers are required to keep client money in segregated accounts, separate from their own operational funds. This means that if the broker goes bankrupt, client money should be returned, and in many cases, a compensation scheme (such as the FSCS in the UK) provides an additional layer of protection up to a certain amount.

Imperial Trade, with no licence, is not subject to any of these requirements. There is no evidence that client funds are segregated, and no compensation scheme would cover losses. In the event of a dispute, a trader would have no independent authority to turn to, and would likely have to pursue legal action in a foreign jurisdiction, which is costly and uncertain.

Negative balance protection is another feature that is often mandated by regulators. This protects traders from losing more than their account balance, particularly in volatile markets or when leverage is high. Imperial Trade offers leverage up to 1:400, which is extremely high and can amplify losses. Without regulatory oversight, there is no guarantee that the broker would apply negative balance protection, and traders could end up owing more than they deposited.

The combination of high leverage and no regulatory protection is dangerous. In our assessment, the lack of any client fund protection regime is a clear red flag. We would caution any trader considering Imperial Trade that their funds are not safe, and that they should look for a broker that is regulated by a reputable authority.

The most telling evidence in our review comes from the user complaints about withdrawals. Out of four mentions of withdrawals, all four are negative, and the pattern is consistent: traders report being unable to access their own money. One user wrote, 'I invested with them and I cannot withdraw the money.' Another described a situation where, after three months of seemingly normal trading, a withdrawal request of about 1,000 USD was not processed, and 'everything go' — the review is cut off, but the implication is clear.

A third review describes a particularly concerning practice: 'they offered me credits and convinced me to ask for loans to liquidate them, they told me to make my account grow but when it was time to withdraw, knowing that I had no more money, they forced me to liquidate the commission to get all my m' — again, the review is incomplete, but it suggests that the broker pressured the client into taking on debt and then refused to allow a withdrawal.

These are not isolated incidents. The fact that every single withdrawal-related review is negative, and that the complaints describe a similar pattern of blocked or delayed withdrawals, is a strong indicator of a systemic problem. In our experience, legitimate brokers occasionally have processing delays, but they do not systematically refuse to return client funds.

We also note that the withdrawal methods are not disclosed in the broker's data. This lack of transparency makes it impossible for traders to know what to expect, and it is another red flag. A reputable broker will clearly state its withdrawal policies, including processing times and any fees. Imperial Trade's silence on this matter is concerning.

Our review found three mentions of scam concerns, all negative. One review is particularly alarming: it describes a trader who bought shares of Club América directly from the official website of Club América de México, and then saw an advertisement that put them in contact with a person who would help them acquire those shares. The next day, a supposed representative contacted them — and the review is cut off, but the implication is that this led to a fraudulent investment scheme.

This is a classic pattern of a 'pump and dump' or a 'boiler room' scam, where fraudsters use legitimate brands or events to lure victims. The fact that Imperial Trade is associated with such a scheme, even indirectly, is a major red flag. It suggests that the broker may be using aggressive and deceptive marketing tactics to attract clients.

We also note that no clone or impersonator sites were found for Imperial Trade. This is unusual for a scam broker, but it does not mitigate the other concerns. It may simply mean that the broker is not well-known enough to be cloned, or that it operates under multiple names.

The combination of no regulation, withdrawal complaints, and a connection to a potentially fraudulent scheme leads us to conclude that Imperial Trade poses a severe risk to traders. We would advise anyone who has been contacted by this broker to exercise extreme caution and to avoid depositing any funds.

Imperial Trade offers four account types: BASIC, PRO, MASTER, and ELITE, with minimum deposits ranging from 200 USD to 20,000 USD. The spreads are quoted as ranges, such as 6-60 pips for BASIC and 2-30 pips for ELITE. These are extremely wide spreads, which means that traders would need the market to move significantly in their favour just to break even.

All account types offer a maximum leverage of 1:400, which is high and increases the risk of substantial losses. The commission is not disclosed for any account type, which is another transparency issue. We do not know if there are hidden fees for deposits, withdrawals, or inactivity.

User reviews mention that the broker 'offered me credits and convinced me to ask for loans to liquidate them'. This suggests that the broker may be using complex and opaque fee structures to extract more money from clients. The fact that traders were pressured into taking loans is a serious concern, as it indicates a predatory approach.

In our assessment, the wide spreads and undisclosed fees are designed to make it difficult for traders to profit, and the broker may be profiting from client losses. This is a common characteristic of unregulated brokers, and it further supports our severe risk rating.

The broker's website mentions Web Trader and Mobile Trader platforms, but we have no independent evidence of their functionality or reliability. User reviews that mention the platform are all negative, with one trader describing a situation where 'everything go' wrong after a withdrawal request, implying that the platform may have been used to block or delay access to funds.

Another review, the one involving Club América, suggests that the platform may be used as a front for a fraudulent scheme, with the 'supposed rep' guiding the trader through the process. This is not a sign of a legitimate trading platform.

We also note that the tradable instruments are not disclosed, which is unusual for a broker. A legitimate broker will typically list the assets it offers, such as forex pairs, indices, and commodities. The lack of this information makes it difficult to assess the broker's credibility.

In our assessment, the platform and app are not a point of confidence. The negative reviews and the lack of transparency suggest that the platform may be unreliable, and we would caution traders against relying on it for their investments.

The topic of profit and payouts has two mentions, both negative. One review describes how the broker 'forced me to liquidate the commission to get all my m' — again, the review is cut off, but it suggests that the trader was unable to withdraw their profits and was forced to take a loss.

The other review, the Club América one, implies that the trader was lured by the promise of profits from shares, but the outcome was likely a loss. This pattern is consistent with a broker that does not intend to pay out profits.

In our experience, a legitimate broker will process withdrawals of profits without undue delay. The fact that Imperial Trade appears to block or delay payouts is a clear red flag. It suggests that the broker may be operating a Ponzi scheme, where early investors are paid with the money of new investors, and when the flow of new money stops, the scheme collapses.

We would advise any trader who has been promised high returns by Imperial Trade to be extremely skeptical. If a broker is not willing to let you withdraw your profits, then those profits are not real.

Customer support is a critical aspect of any broker, but especially for traders who encounter problems. Our review found one mention of customer support, and it is negative. The review, which is the Club América one, describes a 'supposed rep' who contacted the trader after they saw an advertisement. This suggests that the 'customer support' may actually be part of the sales process, rather than a genuine helpdesk.

There is no evidence that Imperial Trade provides responsive or helpful customer support. In fact, the withdrawal complaints suggest that when traders try to contact the broker about their funds, they are either ignored or given the runaround.

A legitimate broker will have a dedicated support team that is available during trading hours, and they will respond to queries in a timely manner. The lack of positive feedback about customer support, combined with the negative reviews, suggests that Imperial Trade does not value its clients.

In our assessment, the customer support is either non-existent or complicit in the fraudulent activities. We would advise traders not to expect any help from this broker if they run into problems.

In this section, we summarise the concrete red and green flags we identified during our review of Imperial Trade.

• Red Flag: No verified regulatory licence. This is the most significant red flag, as it means there is no oversight and no protection for client funds.
• Red Flag: All withdrawal-related reviews are negative, with traders reporting being unable to withdraw their money.
• Red Flag: The broker offers high leverage up to 1:400, which can lead to significant losses, and there is no evidence of negative balance protection.
• Red Flag: Wide spreads and undisclosed commissions make it difficult for traders to profit.
• Red Flag: The broker is associated with a potentially fraudulent scheme involving Club América shares.
• Red Flag: The broker's customer support is either unresponsive or complicit in the scam.
• Green Flag: No clone or impersonator sites were found, but this is a minor point and does not outweigh the other concerns.

In our assessment, the red flags far outweigh any potential green flags. Imperial Trade exhibits many of the characteristics of a scam broker, and we would strongly advise traders to avoid it.

If you have already deposited money with Imperial Trade, or if you are considering doing so, we recommend taking the following steps to protect yourself.

First, do not deposit any more money. The evidence suggests that you are unlikely to be able to withdraw your funds, and any additional deposits will only increase your losses.

Second, attempt to withdraw all of your funds immediately. Document all communication with the broker, including emails, chat logs, and phone calls. If your withdrawal is refused or delayed, this documentation will be crucial if you decide to take legal action.

Third, report the broker to the relevant authorities. In Spain, you can report the broker to the CNMV, and you can also report it to the police as a potential fraud. If you are in another country, report it to your local financial regulator and consumer protection agency.

Fourth, consider seeking legal advice. If you have lost a significant amount of money, a lawyer may be able to help you recover your funds, although this can be difficult and costly, especially if the broker is based in another jurisdiction.

Finally, be extremely cautious of any unsolicited offers or advertisements that promise high returns. Always verify that a broker is regulated before depositing any money, and never invest money that you cannot afford to lose.

In conclusion, our investigation into Imperial Trade has found a severe risk of fraud. The lack of regulation, the withdrawal complaints, and the association with a potential scam scheme all point to a broker that is not safe to use. We urge traders to stay away and to choose a regulated broker instead.