InfiniTrade is yet another brokerage that was founded fairly recently. Many of these fail to attract enough attention from the traders simply due to how saturated the market currently is. So, if you don’t have a good pedigree, what do you do? If InfiniTrade is to be believed, then throwing outrageous trading conditions underneath a sleek professional appearance is the way to go. However, the more time you spend looking at it, the more cracks start becoming apparent.
One of the things that bugged us the most was the inability to learn the exact location of InfiniTrade. Some sources claim they originate from Bulgaria, others say the Marshall Islands. We couldn’t even get a straight answer when contacting their support, so there is definitely something fishy here. There are aspects of some brokerages we can overlook, such as regulation for young companies, but this lack of transparency on a such minuscule level sounded many alerts in our minds. Before we get to our pitchforks, let us take a closer look at all of it has to offer5 and save our judgement for the end of our InfiniTrade review.
Like every good brokerage, InfiniTrade recognizes the value of diversification and uses it to its full potential by offering a good variety of account types. There are seven on offer, and they are all grouped into several categories based on their complexity and intended target group. These include Client Choice, For Beginners and For the Traders. Some of these present a much higher value than the others so, be sure to read our in-depth coverage of all of them to figure out which one is best suited to you.
- For Beginners
There are three subcategories here: Basic, Bronze and Silver. Besides the trading volume, there is very little to tell these tiers apart. InfiniTrade offers no Demo account, but with such a minimum deposit, you get a chance to experience the trading platform for yourself. In addition, you get some educational content from the Education Centre. If you decide to deposit more than $10.000 you get a dedicated account manager to help you run your portfolio more efficiently. Silver is the final beginner-friendly account tier that requires a minimum deposit of $25.000. The only additional perk you do get is the Trading signals feature. This tool is easy enough to comprehend and use in day-to-day trading even for traders without any experience.
- Client Choice
If you decide to upgrade, or simply have enough confidence to start with a higher initial deposit, you qualify for Gold or Premium Tier. While the Gold only holds some minor educational content, the Premium account is the sweet spot. For $100.000 you receive financial planning, significantly higher leverage and a managed account. We failed to comprehend the difference between a managed account ad a dedicated account manager, but the difference is there is InfiniTrade is to be believed.
- For the Traders
Again, there are two sub-tiers to choose from: Platinum and the VIP. Oddly enough, despite a high asking price of $250.000, the Platinum tier is practically the same as Premium, with the trading volume being the only difference. VIP, however, is where you really get your money’s worth with perks such as Rushed and Free withdrawals, VIP events, Independent Contract, Premium platform and more.
If you are a high volume traders, this should be your only choice. Otherwise, we would recommend going for the Premium or Silver, based on how much money you would be willing to put down. Probably the best thing to do would be to start with Silver and then start upgrading slowly if you feel you are comfortable enough with the platform and the overall trading conditions.
Giving credit, when credit is due, InfiniTrade has one of the best education centres for traders we have seen in a while. There is a good balance between what is on offer for free and what is presented for paying customers. InfiniTrade Academy holds a good variety of eBooks and videos that are primarily intended for beginners, but there is even something for the advanced users. These PDFs are excellently designed and offer plenty of illustrations. Similarly, videos are animated and well elaborated to further push the point that online trading is not overly complex and that pretty much anyone can do it regardless of their background.
The only complaint that we have is regarding the amount of content on offer. These eBooks and videos are of excellent quality, but there is very little of them. They mostly serve to tickle your imagination and ambition. If you are enticed enough and decide to open an account, there will be even more on offer based on what tier you select. These are definitely more advanced and serve to upgrade your skills even further. These include advanced training sessions, financial planning and a dedicated manager to help you run your account. If you still feel this is too advanced for you, there are even tools like platform explanation, risk management explanation and the basic market explanation to help you build a solid foundation for your future trading.
InfiniTrade has developed its proprietary trading platform. We would normally applaud such attempts to make the entire trading experience more user and beginner-friendly, especially given the complex solutions out there such as Meta Trader. However, what we experienced, considerably brought down our entire opinion of InfiniTrade. But let’s take it slow and explain one thing at a time.
First of all, you have a choice between a desktop and a mobile platform. At the time of writing, only the first one was available to traders, with the latter one supposedly becoming available at a later date. The desktop version does very little to increase accessibility for newcomers, and easily rivals the complexity and the pompous design choices MT4 makes but fails to deliver a smooth experience. Trade executions are slow and unresponsive at times and making alterations to your portfolio can be extremely clunky.
The mobile version will supposedly bring many innovations and quality of life improvements, but for now, it only remains a pipe dream. Anyone who has experience in this industry will tell you the importance of being able to alter your strategy and portfolio on the go, so InfiniTrade needs to make a huge leap in order to attract new traders, especially how lacklustre the desktop experience is.
Getting in touch with InfiniTrade representatives is not an easy task, there is no easy way of putting it. The brokerage did the bare minimum to be able to claim they have customer support, but none of the available channels is any good. There are two phone lines available, but good luck trying to reach them. We even took into consideration the time zones, given the fact that the call centre is located in The Marshall Islands, but still had no luck.
There is also the option to write an email or interact with the live chat feature. There are two email addresses, one for financial and one oft technical assistance. The waiting times are way below the industry standard. We would normally wait for a reply anywhere from several hours to several days. The response you get is mostly satisfying, but given the long waiting times, it seems like there is only a single person working on all tickets on InfiniTrade. All kidding aside, this brokerage needs to invest heavily into its support systems, as it currently cannot match the trader demand.
Another field where InfiniTrade excels is account funding. Making deposits and withdrawals is made very easy thanks to the sheer amount of available options. Some of these are bank-related, while others are 3rd party service providers that deal in both fiat and crypto currencies. More traditionally inclined traders will probably opt to use their Visa and Master credit and debit cards or Wire transfers. Alternatively, you can use one of these: Skrill Moneybookers, Yandex Money, WebMoney, QIWI, GiroPay, 3D Secure. As with many other brokerages, using cryptocurrency comes at a risk, but In practice offers almost instant transfers without any hustle, so if you prioritize efficiency, this would be the way to go. Alternatively, bank-related payment methods are traditionally thought of as more secure but are more sluggish in execution, so you should make a choice based on your preferences.
In the end, we are left with a mixed bag. On the one hand, we need to praise the funding methods and the educational resources. On the other, we are left baffled by some of their choices. The platform choices are one of the worst we have seen in this industry, and customer support is practically non-existent at this point. Everything considered we cannot recommend this brokerage to our readers. InfiniTrade has a lot of potential and has made some great steps, but it needs to make some serious changes in order to compete with other brokerages. You can check out our other reviews to discover a more suitable brokerage for your needs.