INVCenter review – 5 things you should know about Invcenter.com

INVCenter review – 5 things you should know about Invcenter.com

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

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

 

INVCenter is an offshore Forex brokerage registered in St. Vincent and the Grenadines. It provides a web-based trading platform, not the MT4 trading platform but the spread is absurdly high at 5 pips on EUR/USD, however, the leverage is quite generous at 1:200.

INVCenter regulation and safety

On the brokers website we read that the broker brand is owned and operated by a SVG-based company with the name News Traders LTD. Saint Vincent and the Grenadines is a well-known offshore zone and a preferred location for shady brokerage.

We remind readers that the government of SVG has multiple times publicly stated that it does not oversee Forex trading and thus we may safely conclude that not only is the brokerage not regulated. Furthermore, trading with an offshore, unregulated brokerage hides a lot of risk. There may be commingling which means that the brokerage may commingle together the finances of the firm and the finances of the clients. Furthermore, in the terms and conditions of the broker we find conflicting information of the country of origin since it reads that Scottish laws are in effect for the agreement which is another sign of trouble since such inconsistencies are the mark of a scammer. On top of all this we learn that the brokerage is acting as a market maker which may lead to conflict of interest if it wishes to give trading advise or manage the accounts of clients since market makers are on a profit only when clients lose money. Overall, the lack of regulation inclines us to suspect that potential clients of the brokerage may be open to substantial risk.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 85 000 pounds, where as with CySEC it is up to 20 000 euro per person.

INVCenter trading software

Putting all this aside – the brokerage does not provide the MetaTrader 4 trading platform, a big disadvantage for traders since it is the foremost trading terminal at the moment equipped with features such as almost a 100 market indicators, as well as customizable trading robots. INVCenter provides a web-based platform and we were able to get a look at it through a demo account.

We could see a spread of 4 pips on EUR/USD which is quite high and unfavorable for traders. There are a wide range of trading options including Forex currency pairs and CFDs on metals, indices and stocks.

INVCenter deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via only the standard Visa, MasterCard and bank wire. E-wallets such as Skrill are missing.

Going through the terms and conditions of the brokerage we did not discover any troublesome provisions beside the bonus conditions. Even though unregulated brokers such as IVNCenter offer attractive bonus promotions we remind readers that such promotions are always tied with trading turnover requirements which make it almost impossible to withdraw the funds.

This is why we advise traders to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Even though the Forex trading world is extremely large and encompasses millions of people around the globe, the most common scamming is pretty simple and straightforward and as such – it’s not particularly daring to avoid. Here is a quick overview of how it is done:

Through clicking an ad with promises for fast money, you will be redirected to a website such as DaxRobot or CryptoContracts where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And with the case Traderia – they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. 

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Rich Snippet Data
Review Date
Reviewed Broker
INVCenter
Broker Rating
1.31star1stargraygraygray

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23 Comments

  1. Estelle van der Westhuizen

    Paid $2200 and now I cannot withdraw my fund. Broker was ERIC GOLD. They dont return calls or messages. What can I do?

    1. Broker was ERIC GOLD , DAVID MILLER , DEAN ? same happen with me now

    2. I deposited $1200 and now the guy will not respond to any messages and the number just keeps ringing. The broker is David Sol.
      I can’t do anything

    3. Suran Gocharan

      Hi
      Did you send them your account details to verify?
      Eg Id copy and bank card details.

  2. I only paid in the $200 but also cannot get funds back the broker was Dave Cooper. I have message them and called but to no avail. I am wanting to post it everywhere as a scam. What is there to do?

  3. The same happen to me Erick Gold was the broker.

    1. I joined bitcoin evolution, then had a call from a foreign woman setting up an appointment for me with proposed broker JACK MORISSON. I initially joined with a $200 investment. JACK guided me through a simple trade (I didn’t understand any of it) which made me a profit of around $50.00 He then changed to bitcoin lite, played with that for awhile, then told me I would make some REAL money by buying BITCOIN. I said I couldn’t afford the $4,000 he was asking but he said he could get me one coin. He asked for my bank details (DEBIT CARD) which I stupidly gave knowing they had those details anyway from when I paid my initial $200. He asked more questions re account amd I started to feel uneasy. I told him very clearly I DID NOT want any more money taken from my account. He fobbed me off saying it would still be in my account. He set up a trade with the ONE bitcoin and said he would check in with me in a few days when I should see a sizable profit. Feeling uneasy I checked my bank and found out I had been cleaned out. I contacted bank, but they said the transaction had already gone through, and I had been scammed and would not see my money again. They canceled my card. I am devistated. I’m an aged pensioner who has 2 grandchildren living with me whom I support and care for. I cannot affort the loss of this money.

  4. I deposited $1100 and now the guy will not respond to any messages and the number just keeps ringing. The broker is David Sol.

  5. Did any of you got your money back and how. Same thing happened to me. Broker, Sean Davis

  6. I deposited €200 in January. Requested a withdrawal on the 22nd January. They said it would take 10 working days….it has been 12 and nothing. They keep ringing wanting me to invest but I dont want to. I will go down the legal route if I have to. Its the principle and not their money.

  7. Can’t these scammers be traced and stopped??

  8. I initially started investing 200usd the broker David Sol persuaded me to deposit more. I told him I don’t have..he conned me by saying he will give me a bonus and I have to accept. I received a message on my phone saying accepted, fraud..and I accepted..only to find that i didn’t get a bonus. They took money out of my acc. Then another broker called saying he wants to help me get my money back. But in order for me to get it back i must have the equivalent..again they scammed me. I lost a total of R30k.. They are crooks

  9. I also deposited 200 then made 500 to get me hooked then n 1000 and 1000.
    All calls are to get more money or to get a access to your bank to clean you out.
    Very rude people once you argue with them.
    Is there more platforms you can get this accross.

  10. I also got scammed. After few deposits they “lost” my money with na trade and that wich is left i cant get back.
    They say if i want to get withdrawl done i need to give them money and then they pay it all back. All lies

  11. Same happend to me they keep asking for documents in order to withdrawl the money i made. but even tho you send the document the next day they ask for the same thing every time. Does anyone know how we gona get our money back.

    1. Suran Gocharan

      Good day

      I am in a similar situation?
      They are hounding me for documents?
      I am not sure if I must send them the docs?

  12. My trading advisor was David Morgan. He has promised me a big profit, but he has disappeared for two months now. Ross Matthews and John Whelan (I believe they are same person) took over, but I doubt they will return me my money.
    Before Invcenter, David Morgan and Ross Matthews both worked at another scam trading company FX Leader, which Ross Matthews’ secretary Sylviya Core says are interlinked company of Invcenter. I invested money there too (how stupid of me) my money there was never returned either. There were so many bullshit excuses for them why they couldn’t let me withdraw my own fund.

    NEVER INVEST YOUR MONEY WITH THESE PEOPLE.
    Both Invcenter and FX Leader.

  13. The same thing happened. They asked me to deposit 200# first and then 1000$ and further asked to deposit 500$. AFter couple of days no response from them. Broker name is ERIC GOLD. Not sure, still how many of them will be scammed like this. Anyone got the money back still now. Any contact numbers. I have tried their call center numbers, where no one is lifting the phone.
    Any solutions ?

  14. Invcenter is a SCAM company.
    On 24/03/2020 I tried to ‘invest’ in bitcoin, then decided to wait for another day when I would get paid.
    Immediately a woman called Emma Ivanova rang & emailed me constantly, promised she would give me 25% extra on the investment of USD200 & that she would RETURN the amount to me the following day if I ever changed my mind.
    On 25th Mar I invested my aust funds, immediately she put me through to her ‘accounts manager’ who asked me for details of my other credit card number.

    On 26th Mar they also charged my account for an ‘international transaction fee’. I tried to contact Emma & also her company, the only reply I got was ‘this number does not xist’. Realising this was a SCAM I immediately contacted my bank who said they will ‘dispute’ this transaction with invcenter & they cancelled my credit card.

    ALL u people out there, beware of SCAMMERS out there. They try to CHEAT our hard earned money & savings for a quick buck.

  15. You will lose all of your money and never be able to withdraw your funds!!! I requested to withdraw $2700, whereby a week later my request was cancelled due to trading activity on my account. I’ve never used the platform to trade. I was bullied into depositing funds, and harassed to add more to the fund!!! Bunch of criminals!!!!

  16. loraine Verwey

    I tried to withdrawal send numerous with out any luck Dave and Damian was the scammers 450USD
    I am the only bread winner don’t they any compassion towards others so selfish
    there must be somebody that van help us why must we sit bac. There must be help some where to get hold of these scammers maybe we need some hackers that can get us back all our money in at time like this we need the funds .pleas ecan somebody help us

  17. Bernard Chong Phoe

    Between 23 March – 28th March, my bank account and my housing loan account were totally cleaned up including an outstanding credit card of Eur6000 owing. The crooks are Jack Morisson who passed me to David Morgan for the kill. Total loss is 42200Usd but on INVcenter screen I have 64000usd to my credit which I tried to withdraw but unable for 100usd. They locked my password and withdrawal page.

  18. hi guys, on face book i saw a add with channel 10 the project and dick smith showing them how easy it is to make money,i clicked the link of bitcoin evolution which took me to a platform InVcenter i registered and paid $500 a lady with an accent rang me to make an appointment with one of the brokers,i asked the girl is this bitcoin evolution she said yes our company name is inVcenter that runs it.the broker called me on time and told me my initial money will only make small change and if i want to be with the big players i need to invest at least 5k to get started i told him no,they set up a connection so they have full access to your screen to help you monover around the trading platform, when he started to ask me to get in to my bank account to verify the transaction i felt this isn’t a normal process of a broker. i quickly shut down the connection and said i will close the account i don’t feel comfortable you having access to my banking, he said this is a normal process. i told him to close my account, he said i need to access the your computor to close the account due to money laundering i told him he is full of shit, he turned around you have 10 sec to allow me access or you can kiss your money good bye, mind you he used some colourful words which i will not put on screen. i left my guard down and got burnt due to a simple add… tell everyone about inVenter it is a scam for bitcoin trading, thankyou for reading my story.

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