- 1 Definition of Online Brokers
- 2 Benefits of Investing Through Online Brokers
- 3 Highlights
- 4 Overview of Impressive Areas
- 5 In-Depth Review of Impressive Areas
- 6 Wrap-up
- 7 Conclusion
The lack of details about the company and poor feedback about repayment means that the platform is shady and not recommended to risk your precious capital. It is better to select another forum that has better customer reviews and is upfront about its fees, background, and team resources.
Definition of Online Brokers
An online broker acts as a go between the buyer and seller of any stock or other investment asset. Online brokers support this sale and purchase in return for a fee or commission. Before technology helped such trades take place online, traders and buyers used to make their trades physically through brokerage houses. This has now moved to mainly online transactions through online brokers. Read on to learn more about the Impressive Area, an online broker we are reviewing today.
Benefits of Investing Through Online Brokers
Many seasoned traders prefer online brokers as they allow their members to make unbiased and independent decisions. Traditional brokerage and their agents usually promote investment products that yield the best commissions for them. This makes online trading doubly convenient as traders can book their trades without bias, follow their investments, and make transactions from any place.
Online trading is also more convenient for managing portfolios during market fluctuations and volatility. This convenience is due to the quicker response possible through easier online access. It is also cheaper as most online platforms charge lower fees as compared to traditional brokers.
- Trading platform
Impressive Area is a straightforward platform for multiple levels of traders to use. The platform has basic and advanced (paid) options for trading.
- Fees & commission
These plans start from $250 for the Basic and go up to $250,000 for the VIP account. The Basic level does not offer many tools for users.
The trading options on Impressive Area are the ones common to most financial markets, and users can select from currency pairs, stocks, commodities, and cryptocurrency.
- Platforms & tools
One of the major features of the Impressive Area platform is its algorithm-based trading. This option is slowly gaining popularity among newer investors.
- Account opening & deposit/withdrawal experience
The account opening process seems straightforward, and the deposit process is also smooth. However, there is little information about the platform’s users .
- Customer service & support
The customer support seems minimal as there is no customer support or 24/7 options.
- Education & learning resources
The Impressive Areas educational resources have two generic tabs divided into Education and Analysis.
- Research & analysis
The Impressive Areas platform claims to give its users professional advice through its team of trading experts.
- Regulatory compliance & security
There is no information on the website to indicate that it is a regulated platform, as there is no regulatory or compliance badge displayed anywhere.
- Mobile trading
There is no mention of a mobile trading app or any mobile-enabled version of the platform for any membership type.
Overview of Impressive Areas
Fees and Commission
These plans start from $250 for the Basic and go up to $250,000 for the VIP account. The Basic level does not offer many tools for users. It provides leveraged trading, but the rates and commission rates are not specified anywhere on the website. It seems that the fees and commissions are directly deducted from the trader’s accounts, which is a worrying factor.
There is no information on the website about the commissions, fees, spreads, and leverage charges that the website applies to the transactions that users make through the website.
Range of Investment Opportunities
The trading options on Impressive Area are the ones common to most financial markets, and users can select from currency pairs, stocks, commodities, and cryptocurrency. This gives users ample room for diversification and increasing their profits.
However, there are no reviews or help guides on using the platform and its trading options, making it seem even shadier as there are no support options for new users to help them learn to use the forum.
In-Depth Review of Impressive Areas
Impressive Area is a straightforward platform for multiple levels of traders to use. The platform has basic and advanced (paid) options for trading. The Impressive Area website has a signup area where new users go to complete their registration form. There they need to fill in basic information like name, email, contact information, time zone, and trading currency.
Once this information is verified, the user must pick their account type. There are different account types, from Basic to platinum, pro, and VIP. There are multiple investment plans to select from as well. These plans start from $250 for the Basic and go up to $250,000 for the VIP account. The Basic level does not offer many tools for users.
Platforms and Tools
One of the major features of the Impressive Area platform is its algorithm-based trading. This option is slowly gaining popularity among newer investors. Algorithm-based trading uses an AI-based computer program to trade assets on the investor’s behalf.
Joining any trading account with a legitimate broker is easy. All users need to research their options and pick a legitimate brokerage platform. The registration usually involves completing the registration process by giving in the required information to the website. Users typically need to enter their name, phone number, and email address.
For algorithm-based trading, all an investor needs to do is give their trading instructions through the input form. These inputs set parameters for the algorithm to manage trades. Once these inputs are running satisfactorily, users can keep their involvement low and let the algorithm do the actual trading. However, considering how shady the website and its performance are, it is better to proceed with caution in anything you do on the platform.
Account opening & deposit/withdrawal experience
The account opening process seems straightforward, and the deposit process is also smooth. However, there is little information about the platform’s users. There are no reviews about the ease of withdrawals. Trustpilot (an independent platform where people report their feedback about different services) is full of complaints about the website being a scam, with the majority complaining about not getting their money back after depositing funds.
Customer service & support
The customer support seems minimal as there is no customer support or 24/7 options. There is only a “contact us” option on which a single phone number is given.
Education & learning resources
The Impressive Areas educational resources have two generic tabs divided into Education and Analysis. The education tab lists definitions and explanations of standard investment terms like volatility, market correction, leverage, bulls and bears, and the market operation hours for international stock exchanges.
The analysis section is split into fundamental and technical analysis. Fundamental analysis is based on analyzing multiple factors that influence a country’s financial and economic performance over the long and short term. The technical analysis is based on assessing past performance and using different charting tools and formulas to predict future behavior
Research & Analysis
The Impressive Areas platform claims to give its users professional advice through its team of trading experts. This advice is to help users plan their trades and reach their investment potential. The platform also states that it provides educational tools for its users, which includes a full range of technical tools.
However, except for a few web pages, there is no meaningful information or educational tools available for the users. Since there is no transparency about the information provided, there is a question mark over the expert resources as there is no apparent source of the advice, which makes any suggestion for a trade suspicious. Such uncited and uncredited information is always suspect
Another issue with the platform is that the primary educational resources are available for the high-paying traders that opt for the higher-end plans that are extremely expensive for the average investor. Since we did not bother to waste our money on such a shady website, there is no knowing the quality of information and educational resources available to users that pay $3,500 or more for higher-end memberships.
Regulatory Compliance & Security
There is no information about the company, its place of operations, or the team behind it. Similarly, there is no information on the website to indicate that it is a regulated platform, as there is no regulatory or compliance badge displayed anywhere.
There is no proof or evidence about the company’s origins, team, regulatory, or controlling body. This is a massive red flag, for the people investing in Impressive Areas have no recourse to a controlling agency for their complaints and problems with the company.
The platform does mention using safety features to protect its users’ funds from malicious third parties. The platform claims to use Secure Socket Layer (SSL) technology to protect its users’ funds and data from malicious attacks.
There is no mention of a mobile trading app or any mobile-enabled version of the platform for any membership type. This means that the platform runs on the web browser alone and does not offer any mobile compatible versions
Summary of Key Features
The Impressive Area website does not prove it is a legally registered and regulated investment platform or broker. Registered entities that fall under regulatory bodies have to be upfront about their registration and show their compliance with regulatory requirements. This is done through the display of regulatory badges and certificates of compliance on their websites.
In the case of Impressive Area, there is no information about where the company is registered or located, the team running it, or who is legally bound to regulate it based on geographical location. All these are significant red flags that indicate that Impressive Area is not a legitimate company. Ultimately, this means that your funds will not be secured with this platform, and you should be very careful of any monetary dealings with this website.
The problem in trading through such unlisted platforms is the high level of risk involved. There is no legal restriction or liability on anyone if the company decides to end its operations and vanish without a trace. It isn’t much you can do to salvage your investment.
The platform does mention some safety tools inbuilt into the platform to keep users’ funds safe from third-party attacks on the forum. The safety tools include Secure Socket Layer (SSL) technology that helps to keep users’ data protected from malicious attacks.
It is also stated that Impressive Area also uses private data storage options and periodically reviews its safety and privacy policies. All this is wonderful, but it seems that users need to be kept safe from the company, which cannot be depended on to handle users’ money honestly
Pros and Cons of Impressive Area
Membership in the Impressive Area platform requires some very high deposits while there is virtually no help for beginner traders, which shows that the platform is not legit as it focuses on attracting large investors instead of offering solutions to support all levels of traders, which is something that most legitimate platforms do
The Impressive Area platform seems to have the necessary security measures in place, and it seems to have focused on investors’ security. However, the lack of information about the platform and the team behind it is a huge red flag. The lack of regulatory and compliance certifications is also a warning against investing in the platform.
The lack of legal and background information and poor customer reviews on feedback forums means that intelligent investors should steer clear of this shady and unverified platform to secure their capital from fraud.
Impressive Area is apparently an offshore brokerage agency that is running its operations with no clarity or security. The company does not disclose any information about its team, location, or background. It simply lists a phone number for users to call in case they need customer support.
Such vagueness is a certified red flag. There is little on the website to show that the Impressive Area platform can be a legitimate broker. This means that users should avoid this platform at all costs. The broker does not seem to be listed with any regulatory body and, therefore, cannot be trusted with your hard-earned money.
There is no need to lose heart, though, because there are many other genuine and legitimate options for those looking to start their online trading experience.
Fintech-Insight is dedicated to delivering unbiased and dependable insights into cryptocurrency, finance, trading, and stocks. However, we must clarify that we don't offer financial advice, and we strongly recommend users to perform their own research and due diligence.