Beware! Investo Brokers is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Investo Brokers is a name which doesn’t suggest that there are real professionals standing behind this Forex broker. In fact, they are, but not in the way that you thought in the first place, these guys are professional scammers. Investo Brokers is a confirmed scam, blacklisted by FINMA in Switzerland and CONSOB in Italy, based on the report by the Swiss. It is an entity, linked to a group of scammers operating, or being closely connected to a number of other scam websites and Forex brokers. Find out other details and more about them in the full Investo Brokers review.
Investo Brokers REGULATION AND SAFETY OF FUNDS
Investo Brokers is a proven scam, initially FINMA issued official warning against them, followed by CONSOB, based on a report by the Swiss.
Finma official warning here:
CONSOB official warning here.
In fact, Investo Brokers fails to provide any outright facts and details, which should undoubtedly prove their legitimacy. On their Main page they enlist an address in Switzerland, but no contact number. On their FAQ page, however, they mention the Belize financial regulator IFSC, which might lead you to think that Investo Brokers is registered there. Nevertheless, there is no further information about their legal status, there isn’t even a T&Cs page on their website!
Your funds are not safe if you deposit with Investo Brokers, it is an unlicensed, unauthorized and unregulated entity, which was also recently blacklisted. If you are looking for a reliable true Forex broker choose a company which is legit, authorized and regulated. The customer protection policy is placed on top of their priority list, not because they want to, but because they have to. In EU and UK, for example, the foreign exchange agents have to comply with many strict rules and regulations, such as minimum capital requirements of 730 000 EUR, personnel qualification standards, segregation of the clients accounts etc. There are also money protection schemes in operation, such as ICF in Cyprus and FSCS in UK, just to name a few, which guarantee the deposits of the clients. Under CySEC(Cyprus) supervision you can claim up to 20 000 EUR in compensation, while in UK under FCA you are guaranteed of even up to 85 000 GBP. Each EU member state is compelled to create and further operate such a fund, which is regarded as a last resort for the traders, in case a Forex broker faces difficulties to meet its financial obligations.
Investo Brokers TRADING SOFTWARE
Investo Brokers offers only MT4 accounts to its customers, MT5 or web-based platform is not available. We were surprised to see that Capital Com Investment Ltd. is their service provider, it is a well known offshore scacm which was blacklisted by many European regulators back in 2019, such as the Swedish FI, the Danish DFSA, the Belgian FSMA, CONSOB and others. Most importantly, this group of scammers is in a very close connection with a few other brokers that we have recently reviewed, such as Matrix Banco and Banco Invest! Stay away from all of these!
The spread is 1.5 pips flat, but the price action is really sloppy, we suspect that there might be a price manipulation in operation. The issue with the leverage is a difficult one, three different sources gave us three different levels possible. On their FAQ page they claim the maximum to be 1:888, on their Account types page they enlist 1:1000 as possible, while on the Desktop MT4 platform it is up to 1:500.
Demo accounts are available on the MT4 Desktop platform, opening one is hassle-free.
Investo Brokers DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit required is 5 USD. Deposit is possible without ID proof, another huge red flag! There are plenty of funding methods enlisted, such as Skrill, Neteller, bank cards, wire transfers, Bitcoin and so on, but the payment process is like nothing we’ve seen before. There are only two options available in reality- Neteller and Skrill, and once you click upon them you get this strange message:
Investo Broker allows indebted accounts! The example given by them is more than ridiculous, they claim that you cannot lose more than the sum deposited, but in case of a negative balance you can easily sort it out with your next deposit!
The minimum withdrawal is 5 USD and it usually takes up to 24 business hours to be processed which should mean within 3 days. Bank wires to some countries is said take up to 5 working days. No fees specified, no dormant account policy, as well.
No bonuses or other trading incentives available. Investo Brokers offers a partnership program called Introducing Broker Program. Stay away and do not become a scammer like them, introducing their fake brokerage services, it is a confirmed scam!
HOW DOES THE SCAM WORK
A group of scammers usually operates many different scam brokers, scam websites and call centers. Sometimes they will simply rely on the quantity, they will publish tens or hundreds of websites and will just wait for traders and investors with little or no experience to bite. Nowadays, it’s very cheap to create one, and it looks like a profitable strategy, as they carry on doing it.
Investo Brokers does offer a sleek website indeed, but that doesn’t way make them a better broker. at all, it is a confirmed scam and you should not deal with this entity in any way possible, report immediately if they contact you!
There is no true protection against scam, but you will be safer if you do a thorough research, get familiar with the trading conditions offered by the brokers, read their Client Agreements, use demo accounts, read reviews, be alert. With charlatans adapting their tactics daily, you’d better be always up to date with the newest scammers’ tactics!
WHAT TO DO WHEN SCAMMED
No one is immune to scam, anyone can fall into the trap. Scammers are constantly looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!
Share online your experience, it is important to protect others, as well. Be responsible!