Investing FM Review – 5 things you should know about investingfm.com

Investing FM Review – 5 things you should know about investingfm.com

Beware! Investing FM is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

FXTM

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

Investing FM is an offshore broker offering over 250 trading instruments, including some 60 currency pairs, and various CFDs on stocks, indices, crude oil, gold, silver and even bitcoins, with three account types, leverage as high as 400:1 and the MetaTrader4 platform.

Spreads as tested with a demo account were well under 1 pip and there was no trading commission, which actually looks suspicious as raw spreads are usually offered with some trading commission.

That, combined with the fact that the MetaTrader4 trading platform, offered on the Investing FM homepage, was actually provided by a third party, leaves us with the impression that the trading conditions presented with the demo account are not what traders will actually see, when they open a standard live account.

Investing FM regulation & safety of funds

As we already noted Investing FM is an offshore broker, based on Saint Vincent and the Grenadines. What bothers us however even more, is the fact that we are not exactly sure about the name of the company that runs the business.

In the bottom of their homepage we read that the broker is owned and operated by Investing FM Ltd, while in their Terms and Conditions we are giver the name of another company – Financial Markets Limited. Both companies are said to be registered in Saint Vincent and the Grenadines, but neither is licensed to provide financial services by an official regulator, as they should have been if they want to target customers on regulated markets like the EU for example.

And it was not a surprise that actually Investing FM has been blacklisted by the CNMV – the financial regulator of Spain, which accuses them of targeting EU citizens without proper authorization and possibly being involved in scam.

On top the broker’s background turned out to be even more complicated as all payments are processed by yet another company – Financial Markets OÜ, which is incorporated in Estonia, while their trading platform is provided by PHP Financials Solutions Inc .

The bottom line is that Investing FM is a unregulated offshore broker, with shady background that has come in the spotlight of the regulatory authorities in Europe.

Investing FM deposit/withdrawal methods and fees

Investing FM says to accept payments with bank wire transfers, as well as credit and debit cards like VISA and MasterCard. We do not see in the list of payment options popular e-wallets like Neteller, Skrill however, and that is notable, as recently Skrill adopted a new anti scam policy, according which its services can be used solely by brokers with legit licenses. As we already noted Investing FM is not a licensed broker.

And besides the minimum deposit requirement of 2000 USD is unacceptably high. Bear in mind that most brokers will require no more than 250 USD.

How does the scam work?

Most people get scammed after they happen to visit one of the so called robo scam websites like Bitcoin Profit and Brexit Trader , where they get carried away by some “irresistible” offer for fast and easy returns. And off course you will be assured that everything is guaranteed, so that all you have to do is to leave your e-mail and phone and start making money right away.

That is how it usually starts. And than, if you do register, without even noticing you will be redirected to the website of unregulated, scam broker, where finally you will be invited to deposit about 250 USD.

Scammers however have much higher goals and will make everything possible to trick you to deposit more. For example your initial trades might look surprisingly successful and in just a couple of days your funds will almost double. That however will not be real as your trading account will simply be manipulated.

And you will surely be getting phone calls as well. It will be “your senior account manager”, who will be trying to convince you that if you really want to make some real cash you will definitely have to invest more – like at least 10 000 USD or so.

And as weird as it might sound, most people do invest that kind of money, without ever realizing they have been scammed until the very moment they apply to withdraw some of their funds. Than all of a sudden they will be told they have no right to withdraw, because of some minimum trade volume requirement, possibly linked to a welcoming bonus, they have so carelessly accepted in the first place.

The pretext to cancel your withdraw requests certainly might be different, but the end result will always be the same – scammers will not be giving you a single penny back.

What to do if scammed?

Honestly, if you are a victim of a scam, the chances to get your money back are quite slim. And yet, if you have made your deposit with a VISA or a MasterCard, you can file for a charge back and that might help. The good news here is that both VISA and MasterCard will currently allow you to do that within 540 days.

Be aware that scammers may try to steal money directly form your bank account. That is why if by any chance you have given away your credit card number or online banking password, immediately change the password and block your credit card.

Finally, if you do not want to get scammed a second time, do not accept any offers by the so called recovery agencies. They will do you no good, but simply will collect some fees in advance and basically that is how the story will end.

Rich Snippet Data
Review Date
Reviewed Broker
Investing FM
Broker Rating
11stargraygraygraygray

Top Forex Brokers

Broker Country Rating Min. Deposit Website
US 5/5 $50 Click for a special offerWebsite
UK, Cyprus, Belize 4.95/5 $5 Click for a special offerWebsite
Australia 4.90/5 $100 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like

Binance to rival Facebook’s Libra with new stablecoins

Malta based Binance, one of the largest crypto