Innovative IT Traders is an unlicensed broker we advise against trading with, despite the seemingly attractive deals it offers.
Innovative IT Traders claims to be located in the United Kingdom with an incorporation certificate issued by the Companies House (CH) under company number 14113648. Although we did find matching records on the CH website, it is important to note that brokers operating in the UK must obtain authorization from the Financial Conduct Authority (FCA) before soliciting potential investors and offering services or products in the Forex markets. The incorporation certificate is not a Forex license. In addition, given this broker purporting to be fully regulated and licensed in the US, we searched the National Futures Authority (NFA) registry but didn't find any records of its existence. This means what it claims is a false statement to unsuspecting investors.
Regarding your question, Innovative IT Traders is an unreliable broker since it is not regulated. A non-regulated broker always comes with significant risks such as loss of funds and identity theft, which could be financially and personally devastating. Therefore, we strongly suggest investors avoid dealing with unlicensed brokers like Innovative IT Traders and opt for fully regulated ones instead.
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