There are numerous alarming details about the background of the INVcenter broker. The fact that its website got taken down after warnings from regulators and complaints from traders speaks volumes.
We shall address the issue to warn you in case this fraudulent broker pops up again. You’ll find the plot uncovered in the INVcenter Review.
Based in Saint Vincent and the Grenadines (SVG), a controversial scam paradise, the company that runs this monkey business is Advanced Software Solutions Limited.
While it may be registered with the local Financial Services Authority (FSA), that doesn’t mean INVcenter is legit. The FSA deals only with the banking sector and doesn’t regulate the Forex market, i. e. no SVG-based broker has a valid Forex trading license.
That implies that the INVcenter regulation is pretty much non-existent. As such, the broker, which provides services onshore, doesn’t abide by the rules set forth by other regulatory bodies.
For example, the European Securities and Markets Authority (ESMA) set a leverage restriction of 1:30 for retail clients whereas INVcenter offers 1:500, a much more risky cap.
Also, Section 54 of the German Banking Act (KwG) states it’s illegal for a broker to provide services in that country without a proper license, something INVcenter obviously disregarded.
To sum up, INVcenter doesn’t possess a valid trading license issued by a Tier 1 regulator such as the FCA, BaFin, ASIC or even CySEC. We checked the databases to be sure. This means your investments aren’t safe at all.
It’s all about appearance, and INVcenter reputation is looking pretty distasteful. As mentioned, SVG’s FSA doesn’t issue Forex licenses. INVcenter hopes traders don’t notice this or let it slide.
The shady broker provides services to onshore clients without the necessary permit from the regulators, which is illegal. Hence, it was busted several times.
It seems that INVcenter has been at it for a while. The broker was established in 2019 and was exposed by financial regulators several times.
We managed to find traces of INVcenter’s fraudulent business. Using them, we compiled a list of countries where the online scam took place:
INVcenter looks for victims in each part of the world. Fortunately, three regulators from the list issued warnings against the financial swindler. Its website is down for now.
Scammers such as INVcenter have their ways of finding victims. For example, they could post ads on social media platforms such as Facebook, Instagram, YouTube or even Google.
WhatsApp and private Telegram chats are also fitting for schemes. When trying to appear legit, scammers hop over to LinkedIn and post fake ads.
Some even choose a more direct approach and contact traders directly via mobile call or email. A step further would be dating apps such as Tinder or Bumble.
INVcenter offers just one trading platform – WebTrader. Essentially, it’s a browser-based terminal that offers basic charts, graphs and calendars.
The INVcenter platform won’t suit intermediate or advanced traders since it lacks features such as automated trading, live market reports, pending orders, etc. Those options are available on MT trading platforms.
There’s no mobile app available. WebTrader is accessed via a browser. Thus, you don’t need an app for it.
The broker doesn’t support third-party software such as MT4, MT5 or cTrader. You’re stuck with a rudimental web platform with limited features.
There’s a list of available trading assets. However, the website was down so we couldn’t check the instruments. INVcenter didn’t disclose them. Nevertheless, here are the asset classes:
We found out that spreads start from 4 pips, which is terrible. The industry’s standard is 1.5 pips or less. Trading commissions are unknown to us.
Brokers make money from these commissions and fees. If a broker offers zero commissions, know that it’s a bait. Your funds could be missing the following morning.
Unfortunately, you cannot. INVcenter didn’t include a free demo account. That means you have to open a live account straight away and invest real money.
That moment you do it, the scamming begins and the funds are compromised. INVcenter may vanish at will and leave you robbed without the possibility of compensation.
Let’s take a look at the INVcenter withdrawal procedure. The illicit broker deals with only two funding methods:
We know nothing about the related fees but do believe they exist. Keep in mind that if a broker requires you to pay fees upfront, it’s undoubtedly a scam.
The minimum deposit is 250 $. Withdrawal issues aren’t unusual in these cases. Simply read a part of this unfortunate victim’s complaint we found on Trustpilot:
I suffered in the hands of these criminals trying to get a withdrawal but they would rather try and get more money from me…
– Trustpilot user, September 27, 2021.
Search for the broker’s website on Trustpilot and you’ll see that you’re not the only victim of INVcenter scam. Feel free to notify us if you have any useful information about this scam.
We are ready to react and help you get your money back. Our team of experts possesses valuable knowledge in cyber operations and uses cutting-edge tools such as CipherTrace.
Get in touch with us as soon as possible and start your chargeback procedure. We will gladly show you how to recover what’s rightfully yours.
If this broker steals your money, contact us for help. You’d best do so using Online Chat because it’s the fastest and easiest way. The consultation is free.
INVcenter operates from SVG without a valid license and allegedly offers Forex, crypto and CFD trading. The broker targets traders from the United Kingdom. South Africa, Belgium, Portugal and Australia.
INVcenter is not legit. The broker has been blacklisted several times. Don’t invest. If you already did, call us for help.
No. There is no free demo or trial account available with INVcenter broker.
The minimum deposit that INVcenter requires clients to pay amounts to 250 $.
Since the website was down, we are not sure but it’s quite possible that INVcenter offers bonuses.
INVcenter is not legit. The broker has been blacklisted several times. Don’t invest. If you already did, call us for help.
No. There is no free demo or trial account available with INVcenter broker.
The minimum deposit that INVcenter requires clients to pay amounts to 250 $.
Since the website was down, we are not sure but it’s quite possible that INVcenter offers bonuses.
The post Review of INVcenter: The Shocking Fraud of The Lying Broker appeared first on Global Fraud Protection.
