Beware! Invefx 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.
Invefx is an online trading platform for binary options on stocks, indices, commodities and currencies. Our first impression of the site is that some information is not made visible. A lack of transparency normally signifies that this broker is not reliable to trade with. In addition to that, the website is poorly made and not very user-friendly.
Invefx Regulation and safety of funds
The address and registration of this broker are unknown. we surfed the whole website trying to find out what the address of the brokers is and searched the Terms and Conditions document to find out about its registration but all was in vain. Our advice is – do not trust this broker and do not deposit funds in its accounts.
Furthermore, please bear in mind that trading in binary options is banned in the EU, and in the US only a couple of binary options exchanges are allowed to operate and offer binary options trading.
If you are looking for a reliable and licensed broker, you should research the well-established jurisdictions of EU, UK, Australia and US. Each jurisdiction offers some good conditions to traders worth exploring. Let us give you a few examples. In the US, licensed brokers must have an initial capital of 20 million USD and in Australia – 1 million AUD. This is a good way to keep the scammers out as they won’t invest that much money just to look legit. In the EU and UK, brokers must have an initial capital of 730,000 EUR. In addition to that, brokers registered in Cyprus and regulated by CySEC make contributions to the local Investor Compensation Fund from which, traders can be compensated up to 20,000 EUR per person if the broker declares bankruptcy. In the UK, brokers regulated by FCA contribute to the local Financial Services Compensation Scheme from which traders can be compensated by up to 85,000 GBP per person should the broker go belly up. These are excellent conditions offered to traders by licensed brokers and our advice is to use the links we have provided and find a licensed broker that suits your requirements.
Invefx Trading software
As we already mentioned, Invefx is a website for trading in binary options. For those of you who are new to the forex trade reality, this is a trade where the outcome is win/lose. Traders can select the trading product and the expiry time, enter the size of the trading volume and decide if the value will rise or fall and place a put or call. It is simple enough to operate.
If you take a look at the screenshot below, you can see the browser-based platform offered by Invex. This browser-based platform offers very basic functionality and its chart is developed by a third-party (TradingView). What you see in the image is the EUR/USD currency pair and its price fluctuation in a given time frame. The buttons on the right are for buy, sell and trade options. Horizontal and vertical charting options help traders set the parameters for the expiry time and value.
We want to mention here that there licensed brokers that offer far better trading platforms, such as MetaTrader 4 and MetaTrader 5. Both trading platforms have excellent tools and instruments and not by chance they are choice number one for around 80% of the brokers around the world. Both platforms offer auto trading options, trading signals that can be obtained for a subscription fee, an app market, VPS, a financial calendar and code base with customs scripts. They also offer a demo account for inexperienced traders to gain knowledge and practice in a safe way. In addition to that, they offer a huge variety of charting options that help traders make predictions about the future direction of exchange rates and thus, make a profit.
We strongly advise you when you are looking for a licensed broker to trade with, to choose one that offers either of these platforms.
Invefx Deposit/Withdrawal methods and fees
On Invefx’s website, there isn’t much information about the deposit and withdrawal methods. We couldn’t find what account types this broker offers to its clients.
We found odd one of the clauses saying that the withdrawal requests are subject to turnover requirements and the trader must turn over the amount of the deposit made at least once before being eligible to withdraw. For example, if the deposit is 250 BTC, then at least 250 BTC worth of trades must be executed. If not, then the trader will have to pay 30 BTC processing fee.
Also, we found out that the company offers bonuses which are under the condition that the trader must execute a minimum trading volume of 30 times for every 1 BTC received as a bonus before being eligible to withdraw the bonus.
First of all, we must say that the deposit/withdrawal conditions are not very beneficial to the trader. Second, the bonus conditions are also difficult to fulfil and no doubt will put a strain on the trader’s trading activities and transactions. We want to advise our readers to exercise extreme caution when it comes to accepting bonuses and to make sure that you will be able to fulfil the obligations. Better yet, look for a licensed broker. Licensed brokers never offer bonuses or free gift and you can be more than sure when you see that the broker you are considering offers bonuses, as a sign of a scam.
How does scam work?
A lot of people get scammed every day, not because they are naive or stupid, but because scammers are inventive and they are masters of manipulation. Often, as you scroll up and down on the Internet or social media, you come across ads for a quick and easy profit which sometimes sound too tempting not to fall into their traps. So you deposit some money into the account and what happens next is the incessant calls of the scammers. First, they congratulate you for taking the first steps towards becoming rich and next, they try to convince you to invest even more money into their ‘profitable’ business. What you probably don’t know is that your money has just gone as a commission to some scammers. And so, you wait and build the sandcastles of your dreams for a better and ‘richer’ future. And you wait, and you wait, for the money to come. But where is it? Now is your turn to call the scammers and to ask what’s going on. They try to placate you and ask you to be more patient. But have had enough and all you want is to get your money back. The scammers kind of promise, but now they are asking you to provide this document or fill out that form, etc., etc., all done in an attempt to delay you from filing for a chargeback.
What to do if scammed?
If this happens to you, our advice is to act immediately and if you have paid your deposit via credit/debit card, to file for chargeback which is retroactive cancellation and refund of your previous transaction. Visa and MasterCard give you 540 days time limit to file for chargeback which gives you a fighting chance to recover your money.
However, if you have used bitcoin or bank wire for your payment, the chances of you recovering your money are really slim.
Whatever you do to recover your funds, beware of the so-called recovery agents. Please make sure that you are dealing with a genuine one by checking their credentials and company’s information transparency. Otherwise, you may fall victim to another form of scam.
Cancelling your credit/debit card in case you have given the scammers your CVV code may be another good idea. Also, make sure to remove from your PC any software that my give scammers access to your private data stored on your computer.