INTERGROUP Company

Intergroup Forex Broker - Comprehensive Information Guide

1. Broker Overview

Intergroup, also known as Intrgroup, is a forex and CFD broker that has garnered attention in the trading community. The company operates under the name Mindworks Ltd, which is purportedly registered in Saint Vincent and the Grenadines. Established in 2019, Intergroup aims to provide a wide range of trading services, primarily targeting retail traders and institutional clients. The broker's headquarters is located in Saint Vincent and the Grenadines, a region often associated with less stringent regulatory oversight.

As an unregulated entity, Intergroup presents significant risks for potential clients. The absence of a reputable regulatory framework raises concerns about the safety of client funds and the overall transparency of operations. Over the years, the broker has faced numerous allegations of fraudulent practices, including account blocking and withdrawal refusals, which have contributed to its negative reputation among traders.

Intergroup primarily focuses on offering forex trading services, including a variety of currency pairs and CFDs. The broker claims to provide multiple account types, each designed to cater to different trading needs. However, the lack of regulatory oversight means that clients have limited recourse in the event of disputes or issues with fund withdrawals.

2. Regulatory and Compliance Information

Intergroup operates without oversight from any top-tier regulatory authority, which is a significant red flag for potential investors. The broker is not authorized by reputable financial regulators such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC). The absence of regulatory oversight means that Intergroup does not adhere to strict compliance standards that protect traders interests.

• Regulatory Bodies: Intergroup is not regulated by any recognized financial authority.
• Regulatory Numbers: No applicable regulatory numbers are provided, reflecting the lack of oversight.
• Licenses: Intergroup does not hold any valid licenses to operate in major financial markets.
• Legal Entities: The broker claims to operate under Mindworks Ltd, but the legitimacy of this entity remains questionable.
• Client Fund Protection: There are no disclosures regarding the segregation of client funds, which is a standard requirement for regulated brokers.
• Investor Compensation Fund: Intergroup does not participate in any investor compensation schemes, leaving clients vulnerable in case of insolvency.
• KYC and AML Compliance: The broker's compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations is unclear, which raises concerns about the security of client accounts.

Given these factors, it is advisable to approach Intergroup with caution, as trading with an unregulated broker can lead to significant financial losses.

3. Trading Products and Services

Intergroup offers a diverse range of trading products, primarily focusing on forex and CFDs. The broker claims to provide access to over 25 forex currency pairs, including major, minor, and exotic pairs. Additionally, clients can trade various CFDs on indices, commodities, cryptocurrencies, and stocks.

• Forex Currency Pairs: Intergroup offers a selection of over 25 currency pairs, including popular pairs like EUR/USD and GBP/USD.
• CFD Categories: The broker provides CFDs on various asset classes, including:
• Indices: Major global indices.
• Commodities: Precious metals like gold and silver, along with energy commodities.
• Stocks: A range of stocks from various markets.
• Cryptocurrencies: Access to popular cryptocurrencies, although the specific offerings may vary.
• Special Products: There are no unique trading products or proprietary offerings highlighted by Intergroup.
• Product Updates: The frequency of product updates or the introduction of new trading instruments is not disclosed.
• Retail Trading Services: Intergroup primarily caters to retail traders, providing them with various account types to choose from.
• Institutional Client Services: Information regarding services tailored for institutional clients is limited.
• White Label Solutions: There are no mentions of white label solutions or partnerships.
• Asset Management Services: The broker does not appear to offer asset management services to clients.

While Intergroup claims to offer a broad range of trading products, the lack of regulation and transparency raises questions about the quality and reliability of these services.

4. Trading Platforms and Technology

Intergroup utilizes a proprietary web-based trading platform, which is designed to provide users with essential trading tools and features. However, the absence of support for industry-standard platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5) may deter experienced traders who prefer those platforms for their advanced capabilities.

• MetaTrader 4/5 Support: Intergroup does not support MT4 or MT5, which are widely regarded as the industry standards for forex trading.
• Proprietary Platform Details: The proprietary platform offers basic trading functionalities but lacks the extensive features and customizability found in established platforms like MT4.
• Web-Based Trading Platform: The broker provides a web-based interface that allows for trading directly from a browser, although details on its performance and user experience are limited.
• Mobile Applications: There is no information available regarding mobile applications for iOS or Android, which may limit trading flexibility for mobile users.
• Execution Model: The specific execution model (ECN, STP, Market Making) employed by Intergroup is not disclosed, leaving traders uncertain about the quality of trade execution.
• Server Locations and Infrastructure: Details regarding server locations and technological infrastructure are not provided, which could impact trading speed and reliability.
• API Access and Automated Trading Support: There is no mention of API access or support for automated trading strategies, which are essential for algorithmic traders.

The limitations in platform offerings and technology may hinder traders' experiences, particularly those accustomed to advanced trading tools.

5. Account Types and Trading Conditions

Intergroup offers several account types designed to accommodate various trading preferences and capital levels. However, the details regarding trading conditions, such as spreads and commissions, are not transparently disclosed on their website.

• Standard Account Conditions: The minimum deposit for the basic account is reported to be around €250, though specific details on spreads and commissions are not provided.
• Advanced Account Types: The broker lists several account tiers, including Silver, Gold, Platinum, Diamond, and VIP accounts, each requiring progressively higher minimum deposits.
• Special Accounts: There is no mention of specialized accounts such as Islamic accounts or corporate accounts.
• Demo Account Policy: Information regarding the availability of demo accounts for practice trading is not specified.
• Leverage Ratios: Leverage options vary, with some accounts offering up to 1:150, although the specific leverage for different products is not clearly outlined.
• Minimum Trade Sizes: The minimum trade size is not disclosed, which is a crucial factor for traders.
• Overnight Fees Policy: Details regarding overnight fees or swap rates are not mentioned, potentially leading to unexpected costs for traders.

The lack of transparency regarding account types and trading conditions is concerning, as it does not allow potential clients to make informed decisions.

6. Fund Management

Intergroup provides a limited array of funding options for clients looking to deposit or withdraw funds. However, the broker's lack of regulation raises concerns about the security and reliability of these methods.

• Supported Deposit Methods: Intergroup accepts various deposit methods, including bank transfers, credit cards, and electronic wallets.
• Minimum Deposit Requirements: The minimum deposit varies by account type, with the basic account requiring around €250.
• Deposit Processing Times: Specific processing times for deposits are not disclosed, which may lead to uncertainty for traders.
• Deposit Fees: There is no clear information on any fees associated with deposits.
• Withdrawal Methods and Restrictions: The broker offers several withdrawal methods, but details on limits and processing times are not available.
• Withdrawal Processing Times: Information regarding how long it takes to process withdrawals is not specified, which can be frustrating for clients seeking timely access to their funds.
• Withdrawal Fee Structure: The fee structure for withdrawals is not provided, potentially leading to unexpected costs.

The lack of clarity in fund management practices may deter potential clients who prioritize secure and transparent financial operations.

7. Customer Support and Educational Resources

Intergroup's customer support services are essential for assisting clients with inquiries and issues that may arise during trading. However, the quality and availability of these services are not well-documented.

• Support Channels: Intergroup provides support through various channels, including phone, email, and online chat, although the effectiveness of these channels is unclear.
• Service Hours and Time Zone Coverage: The specific hours of operation and time zone coverage for customer support are not mentioned.
• Multilingual Support: The broker's website does not indicate whether multilingual support is available.
• Educational Resources: Intergroup offers limited educational resources, with no specific details on webinars, tutorials, or eBooks provided.
• Market Analysis Services: There is no mention of daily market analysis, research reports, or news updates to assist traders in making informed decisions.
• Trading Tools: The availability of trading tools such as calculators, calendars, or signal services is not specified.

The lack of comprehensive customer support and educational resources may hinder traders, especially those who are new to the market.

8. Regional Coverage and Restrictions

Intergroup operates primarily in regions where regulatory oversight is minimal. This raises concerns for potential clients regarding the broker's legitimacy and the safety of their investments.

• Primary Service Markets: The broker claims to serve clients globally, but specific regions are not well-defined.
• Regional Office Distribution: There is no information available regarding regional office locations or support.
• Countries/Regions Not Accepted: Intergroup does not appear to accept clients from countries with strict regulatory frameworks, which may include the United States and several European nations.
• Special Restrictions: The broker's operations may be limited in jurisdictions that enforce stringent financial regulations.

The unclear regional coverage and restrictions may pose risks for traders who are unsure of the broker's operational legitimacy.

In conclusion, while Intergroup presents itself as a forex and CFD broker with a variety of trading products and account types, the lack of regulatory oversight, transparency, and detailed information raises significant concerns. Potential clients should exercise caution and conduct thorough research before engaging with this broker.