Each day we’re encountering more and more fraudulent broker websites. As one goes down, three new ones emerge. One such that has appeared lately is InvestOFund.
We’ve thoroughly researched this company and will present it all to you. Just keep on reading this unbiased InvestOFund review.
InvestOFund, a.k.a. InvestOFund Group, is an anonymous trading firm. Their disclaimer doesn’t say much about the headquarters or the owner. The same stands for legal documents, including the Terms and Conditions.
Their Contact Us section only contains an email and a web form, without giving you the possibility to call the company directly via phone. Since this is the case, we had a hard time finding InvestOFund regulation.
As a matter of fact, we found nothing upon researching numerous Tier 1 databases such as FCA, ASIC, BaFin, and CONSOB. Additionally, we found out that the firm is targeting EU residents without complying with ESMA directives. The EU watchdog imposed a leverage limit for retail traders to ensure you won’t lose your money quickly. And while ESMA only allows 1:30, InvestOFund offers 1:100 to 1:400.
Now that we’re on the same page regarding this financial swindler’s legitimacy let’s move on to other questions.
Usually, scam brokers advertise their services via social media. You can be approached directly or through fraudulent funnels like Bitcoin Trader. Whatever the case, you will be promised insane amounts of profit while convinced that you don’t need to do anything. There are bots, account managers, and all those tools waiting for you.
According to the traffic analysis, our broker in question advertises mainly in the following countries:
However, we’re sure this is not the whole list, and we’ll soon see more of the victims filing reports. Don’t wait until it’s too late. Avoid InvestOFund in time!
To be fair, there are not a lot of choices when it comes to the InvestOFund trading platform. The company only offers WebTrader. It’s typical for fraudsters who don’t want to spend much money but know that they cannot take cash without software.
However, if you take a look at Tier 1-regulated brokers, you will notice that they offer a distribution of MetaTrader or cTrader. Both MT4 and MT5 have millions of users due to their vast offers. Besides charts and indicators, these platforms support a range of add-ons such as EAs, social trading, algo trading, and more.
In addition, each of these has mobile apps for Android and iOS, which you surely won’t find with browser-based solutions.
If you were hoping to be amazed by the offer of trading assets, we’d have to disappoint you. The company offers 50 currency pairs and 45+ CFDs, including:
As you can tell, the number of tradable instruments is relatively small compared to legitimate brokers offering access to thousands of them.
The starting spread is 2.8 pips, which is rather pricey. Namely, the industry average is 1.5 pips, which this company offers, with the Gold account costing a whopping 75,000 EUR. Allegedly, there are no commissions, but you know scammers. They’ll say anything to take your money and disappear.
You can choose from one of the four InvestOFund account types, all of them rather unimpressive.
As you can tell, the minimum deposit is incredibly high. There’s absolutely nothing worth these amounts that you can get from an unlicensed broker. Simply put, they can vanish, and you will have nowhere to file a complaint.
Once again, we remain disappointed. InvestOFund Demo account is not available. Instead, you need to deposit a not-so-small amount of money only to be treated with the basic WebTrader.
Instead of risking your funds like this, you can always open an account with a regulated broker. They’re far more reliable, and you can always contact the regulator if something goes wrong.
Well, the T&C certainly contains interesting clauses related to InvestOFund withdrawals. Namely, the company says you agree to allow them to deduct from your account all the taxes and fees, including tax source fees, and are waiving your right to claim them. Knowing that taxes are paid to the government, we can already say this clause is malicious.
If you pass this stage, you must also be wary of bonuses. In case you accepted any, you cannot request a withdrawal before reaching the bonus amount divided by four in lots, all within 60 days of the deposit. So, say you got $200, you have to repay 50 lots, equal to $5 million.
We also know nothing about payment options, but we can assume you’ll be pressured to invest via crypto as it’s virtually untraceable. Fraudsters like to hide behind blockchain anonymity.
If you lose your money with InvestOFund, it’s crucial to react immediately. You have to file a dispute for a chargeback or start tracing your digital coins. Since there’s no official regulator, everything relies on you.
In case you feel you need guidance and help, feel free to share your story with Global Fraud Protection experts. We’ll do our best to assist with the matter and help you get what’s rightfully yours. Book a free consultation today!
InvestOFund is not a legit broker, and you should avoid it by all means. If you have already deposited the money, contact us for help right away.
Considering all the negative comments and a lack of regulation, your money is not safe with InvestOFund.
No, InvestOFund doesn’t offer its customers a risk-free Demo account.
InvestOFund is not a legit broker, and you should avoid it by all means. If you have already deposited the money, contact us for help right away.
Considering all the negative comments and a lack of regulation, your money is not safe with InvestOFund.
No, InvestOFund doesn’t offer its customers a risk-free Demo account.
The post InvestOFund Review – Who’s Behind The Scheme? appeared first on Global Fraud Protection.
