If anything, InvestCore did have a widespread network of scams. The company has changed several domains and owners, each shadier than the other. Hence, they all ended up on watchdog lists.
This detailed InvestCore review will summarize everything we know about the firm and associated brands so that you can avoid their scam altogether.
Let’s first take a look at who owns the firm before we elaborate on InvestCore regulation. The company has changed three owners – Malarkey Consulting Ltd, Xertz Consulting Inc., and Investcore Ltd.
The first is based in the Commonwealth of Dominica, the second is allegedly headquartered in Switzerland, and the third is in Belize, according to the website. However, we have authority confirmation regarding the second and third entities, with regulators stating these addresses and companies are fake. Hence, we’re inclined to believe the firm is in Dominica, a country with almost non-existent supervision of FX brokers. Fits the scheme.
Just a quick reminder, brokers who legitimately operate in the EEA zone cannot offer leverage higher than 1:30, following the limit imposed by ESMA. InvestCore broker provides up to 1:200, implying it’s illicit and offshore.
Let’s move on and see what regulators have to say regarding the fraud.
In January 2022, the Spanish CNMV issued a warning regarding investcore.pro and its owner, Xertz Consulting Inc. According to it, the firm has no authorization to provide investment services. Another EU member, Estonia, republished this warning.
According to Section 54 of the German Banking Act (KWG), carrying on a business that requires a permit without the necessary license is a criminal offense. And yet, InvestCore does so along with all other flagged brands.
Finally, the FSC of Belize raised their concerns regarding Investcore Ltd, allegedly a Belize-based brand. Once an offshore regulator warns you, it really means bad business.
The vast majority of complaints about the firm come from:
This largely complies with regulatory warnings about fraud.
InvestCore trading platform is a plain WebTrader. The only reason they even served a somewhat functional software is so that they’d be able to sell their story and entice victims such as yourself into a scheme. Nothing more was expected from a fraudulent broker.
While browser-based solutions are rarely reliable and highly susceptible to price manipulation, third-party software isn’t. Legitimate firms often offer MT4, MT5, or cTrader, each with millions of downloads and plenty of tools. Scammers, conversely, don’t care whether or not you will succeed in trading. They only want your money.
Let’s glance at the list of tradable assets.
Crypto trading is not possible, while options trading is highly questionable. Binary options were banned in the UK and EU in 2018 and later also in Australia.
InvestCore doesn’t offer a Demo account. Instead, clients were obligated to pay a minimum deposit of $250 to test the system.
While risk-free accounts can be deceptive if you aren’t careful, they’re also invaluable for those who know what to do with them. One can test their trading strategy, different charts, and indicators and “feel the market.” However, InvestCore doesn’t give you such an opportunity.
The company mainly accepted debit/credit card and wire transfer deposits. On the bright side, you can file a dispute for a chargeback within up to 540 days. On the negative side, time is running out.
In the unfortunate event you find yourself a victim of the InvestCore scam, don’t despair just yet. Global Fraud Protection has dedicated chargeback experts who can help you recover funds. We’re here to guide you through the process and help you get justice.
Book a free consultation today, and we’ll work on your case ASAP, considering the time issue.
InvestCore is an offshore scammer that vanished with clients’ money. If you cannot get a withdrawal, allow us to assist you with this matter.
The broker requires a minimum of $250, the typical amount of scheme firms.
According to the website, the broker has up to 7 days to process your request, plus additional time for the funds to land in your bank account.
InvestCore is an offshore scammer that vanished with clients’ money. If you cannot get a withdrawal, allow us to assist you with this matter.
The broker requires a minimum of $250, the typical amount of scheme firms.
According to the website, the broker has up to 7 days to process your request, plus additional time for the funds to land in your bank account.
The post InvestCore Review – Factors Behind InvestCore’s Disappearance appeared first on Global Fraud Protection.
