Amicus Invest is not your typical brokerage site. The Marshall Islands financial service provider actually offers different packages based on savings plans. Still unregulated and utterly fake, this suspicious investment platform has been active for almost 10 years now. Multiple times blacklisted at that. All in all, very dangerous and not worth your time and money. We’ll explain why in detail in our Amicus Invest review ahead.
Although the postal address given on the website is in Austria, the headquarters of the broker are located in the Marshall Islands. Nonetheless, Amicus Invest doesn’t own any of the licenses, issued by FMA (Austria) or Marshalls (GLOFSA). We made sure of that quickly, after inspecting the mentioned databases.
While looking for a possible Tier 1 license, which is obligatory, we also went through the public registers of FCA, CONSOB, BaFin, CySEC and ASIC. We can’t say the search results were anyhow pleasing. On the contrary. All we ever found on this dubious platform are the warnings issued by EEA regulators. Clearly, Amicus Invest has been operating without a valid license. As all the warnings clearly point out. More on that in the following sections of our review.
For now, we have to remind you that brokers willing to acquire a Tier 1 license in EEA have to meet some of the harshest conditions on the planet. First they have to prove they have a capable enough leadership with enough capital in their hands to run a stable business. Then comes the implementation of the highest security measures, such as segregated bank accounts, negative balance protection, compensation fund and acceptance to abide by ESMA and MiFID.
In order to reduce the trading risk, yet provide a lucrative trading environment, leverage in EEA is restricted to 1:30, and negative balance insurance is mandatory. Alongside these measures, transparency is absolute and transactions reporting has to be done according to MiFID.
Amicus Invest falsely boosts their reputation by claiming to be regulated. The agency they claim to be registered and licensed by is GLOFSA.
The Marshall Islands regulator doesn’t belong to the Tier 1 regulators group. So Amicus Invest would need a Tier 1 license anyway. However, any license is still better than no license at all. Alas, after a scan we did on the GLOFSA database, we quickly established that Amicus Invest is not among their registered entities.
With such a long history of defrauding customers, it’s a real wonder Amicus Invest is still operational. Also, being blacklisted so many times makes you think the domain would already be down. Nonetheless, judging from their website, Amicus Invest is still very much actively selling their services.
One of the initial warnings was published by the Belgian regulator – FSMA. Some that came out after are the FSMA alert republished. Either way, the authorities have recognized and agreed that Amicus Invest is a major threat.
These are the warnings we found upon combing the databases of Tier 1 regulators:
Amicus Invest is active in a considerable number of states. It’s as if they do not care where their victims come from. As long as they keep buying their questionable products. Over the course of years, the unscrupulous financial services provider has scammed the most victims from these countries:
Out of the total 160 reviews left on TrustPilot, most of them are exceedingly negative. Amicus Invest has done harm to a substantial number of investors. Here is how some of the ex users describe their experience at Amicus Invest:
I got no email to say money had been delivered and dont even bother to try to contact them. An absolute joke of a company![…]
I’m massively SCAMMED by this company, which morphed out of another company, without my knowledge, all done by the back office embezzler who is now “on the run” with our money.
Absolute SCAM Amicus simply rob innocent people of their funds invested £10000 on a 3 year term ending 6thJune 2022 and nothing has been returned.
Before we could access the client zone and examine the trading platform (if there ever was one to begin with) we had to apply for an account. Amicus Invest demands from you all your vital data uploaded along with the form you complete. Our application wasn’t accepted immediately either. So we were left without an account and without a chance to unlock the client area.
Because of such a turn of events, we weren’t able to inspect the trading platform offered. How Amicus Invest operates and considering they do not even mention trading, we have solid reasons to suspect no trading is happening here at all.
Data collected suggests Amicus Invest advertises on all major social networks. We can assume their boiler room agents constantly lurk the web for new victims, too.
The most attractive element of the Amicus Invest offer pertains to annual returns on each of the investment plans. A certain percentage is how much you get annually, based on your deposits.
Platforms running these unscrupulous marketing campaigns depend on your deposits with them. Scam agents will make it seem like you are the only one profiting on the scheme, but the machinery works the other way around. Investors feed the scam project their money hoping for the annual returns.
After a certain period passes, clients should get their entire deposit back, along with the return. Sadly, that never happens. By the time the annual interest should be paid, the swindler has already snatched away your entire investment!
We can neither confirm or deny if trading is possible at Amicus Invest. Whoever runs the site doesn’t say anything about the available instruments. Also, entering the website isn’t an option without the site owner’s approval. That’s why we didn’t get to see the trading platform either. If Amicus Invest even has one at all.
Amicus Invest doesn’t clarify how fees and spreads work on their platform. Being non-transparent and secretive about the entire scheme and trading process is a clear red flag if you ask us.
Terms and Conditions doc only mentions fees occurring during bank transfers between the company and the investors. Of course, Amicus Invest forces the client to accept the responsibility of covering those fees alone.
Instead of the common account types, Amicus Invest has something called the investment plans. Here is how they work:
Basically, the platform requires your investment and they supposedly pay out the interest annually. Later, when the contract ends, your initial investment comes back, plus the interest. Whatever the deal, it sounds too good to be true.
Amicus Invest operates slightly differently than a typical broker, they offer different conditions. Also, the only account types in their offer require investments made with real cash. This annulates the possibility of trial trading without risks. As mentioned, we’re confident Amicus Invest doesn’t offer trading at all. So naturally, they’re up for taking your savings and real money immediately.
A number of complaints and negative reviews point out the single fact about Amicus Invest withdrawals – they’re troublesome. Clients have been complaining multiple times about not being able to withdraw their investments and the interest promised.
As the testimonials say, the clients weren’t able to get the services promised. Sadly, their initial deposit was compromised as well! Moreover, getting in touch with the Amicus Invest agents becomes almost impossible.
All the obstacles appear after the victims start demanding their capital returned. Swindlers usually require trading volume requirements met. Alongside those unreasonable conditions, it wouldn’t be a surprise if Amicus Invest also asked for ID or password photo and other credentials. It’s all done to make it harder on the customers to withdraw their funds.
First and foremost, we’d advise you not to panic. You’re not the only victim of the Amicus Invest scam. After you’ve made sure your financial services provider has defrauded you, seek for the right help.
We can offer you our assistance in the form of advice and/or consultation. It’s completely free, so you don’t have to worry about paying. Just use the Online Chat feature to quickly get in touch. One of our agents will reply to your request in the shortest time.
When you decide to refer to us for a piece of advice, please collect all the evidence of scam. The more information you provide, the more efficient our strategy against the scammer. Therefore, we have more chances to help you regain your lost capital and force the authorities to take the necessary action towards legally punishing the criminal.
This is not a properly regulated investment services provider. Investing here would inevitably bring excessive loss and no one wants that. So if you’ve already invested with Amicus Invest, please contact us promptly for help.
For clients ready to invest a minimum of 25,000 USD, the platform supposedly provides special conditions and deposit insurances.
The site isn’t a typical brokerage so there’s no trading. However, what this firm offers is annual returns depending on the deposit made. They also offer long time savings plans up to 10 years long.
This is not a properly regulated investment services provider. Investing here would inevitably bring excessive loss and no one wants that. So if you’ve already invested with Amicus Invest, please contact us promptly for help.
For clients ready to invest a minimum of 25,000 USD, the platform supposedly provides special conditions and deposit insurances.
The site isn’t a typical brokerage so there’s no trading. However, what this firm offers is annual returns depending on the deposit made. They also offer long time savings plans up to 10 years long.
The post Amicus Invest Review – Learn How Vicious They Are appeared first on Global Fraud Protection.
