Beware! EuroInvestPartner.com 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.
EuroInvestPartner.com gives it all away through its ridiculous name. Unless this is some consulting company, we cannot take this broker all too seriously. There is a certain old feel to it that gets in our way of enjoying it, but we do not blame this for the issue that we encountered. No, EuroInvestPartner.com is not a legitimate broker, judging by the array of issues that we will discuss in the following review. Starting with the website, a stuck up thing, that looks like it hasn’t been updated in at least 10 years. Please, before you deposit, read the following review.
After a brief and uneventful registration process, we were presented to a limited trading software which also acted as the main hub area for users. It seems that we were able to create a live account with ease. Usually, this process takes time and consideration from both parties, i.e broker and trader. Seeing that EuroInvestPartner.com threw us into a live account without hesitation, we can understandably have our doubts about it.
Nevertheless, the trading software gives us the necessary trading information. The EUR/USD cost of trade is 0 pips, and we find that hard to believe. Either EuroInvestPartner.com is lying to its users in order to push them to deposit, or the spread really is this low but the minimum deposit is incredibly high. Either way, we do not vouch for this low a spread. The leverage is capped at 1:200. The tradeable assets are forex currency pairs, indexes, commodities, and shares.
The website of the broker is accessed in English only.
EUROINVESTPARTNER.COM REGULATION AND SAFETY OF FUNDS
The first indication that we are dealing with a probable scam was the complete lack of regulatory information on the website. Not only that, but EuroInvestPartner.com does not seem to have any Terms and Conditions. This is by far the biggest red card, for now. The missing legal provisions mean that there is nothing securing a broker-client relationship, resulting in a broker that can do whatever it wants.
A second clue that let us to believe that the broker is not regulated, nor a typical broker, was the footer text. There we find information stating that the website of the company is intended for educational purposes ONLY. The rest of the footer information cannot be taken all too seriously after this.
EuroInvestPartner.com has made sure to be as anonymous as one can get in this industry. Why is that? In order for it to easily lure in users. Basically what EuroInvestPartner.com is, is a fraudulent scheme bent on handpicking its victims. Nothin more. It goes without saying that it is undeniably UNREGULATED.
There is absolutely nothing one can gain from depositing in an unregulated broker. We urge readers to check for a license prior to investing. The FCA and CySEC are the most popular and some of the best regulators in the world. These two, among other superb overseers, have gained the reputation of being the best through years of regulating some of the world’s top brokers. Watchdogs employ a huge set of rules by which every single broker under them has to abide. They include minimum capital requirements, segregated client bank accounts, the guarantee of funds’ safety, etc. All users under the FCA or CySEC, are eligible for compensation, in case the broker at hand cannot pay its dues. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
EUROINVESTPARTNER.COM TRADING SOFTWARE
The trading platform here has a certain charm, yet its simplicity knows no boundaries. By this, we mean that the terminal has only 4-5 features.
These are pending orders, one-click trading, time frames, and buy/sell capabilities. This platform can be useful for toddlers, but even they will grow bored of it. The resemblance between it and the MT4 is obvious, but whereas the MT4 is a monster of a terminal, this platform does only 0.5% of what the MT4 does.
EUROINVESTPARTNER.COM DEPOSIT/WITHDRAW METHODS AND FEES
The depositing section is laughably bad. It gives us two payment options: credit card or bank transfer. There was no minimum deposit requirement when we proceeded. In other words, we were able to continue the payment process with just $1.
As for withdrawals, our research led us to believe that they are probably not processed by the broker. This is because the withdrawal area looks nothing like one. It bears the resemblance of an old windows file manager. Take a peak:
Furthermore, the user sends a withdrawal request, without even choosing a payment method. The Refund policy claims that the minimum deposit is $500 and that the processing time is up to 7 days, as well as confirms the presence of handling fees which have nevertheless not given any numerical value. We have no trust in any of this information.
EuroInvestPartner.com is a complete scam. Do not waste your money on it!
How does the scam work?
Most fraudulent brokers gain their reputation because of the usage of the scheme, the most popular scheme of all in fact. Its ultimate goal is to steal from users and continue doing so until the users sniff them out, or he or she gives up. The scam follows a number of simple steps, but it is worth noting that many unregulated brokers put their own unique twist on it.
The first step is to bait the user. This happens through the usage of online ads, that appear mostly on social media websites or other similar online sources. The scammer ads are distinguishable by their outrageous promises of wealth and profit through trading, investing, or binary options trading. These advertisements showcase a luxurious life and a care-free lifestyle.
Once a user falls for these tempting clicks, he or she will be asked to provide a telephone number or an email address. Giving these away means that the broker’s first wave of representatives will be contacting you. Their one and only goal is to make one deposit. Furthermore, some brokers choose their targets based on how easily manipulated they are.
An initial deposit means that you are knees deep into the scam. The time has come for the expert scammer, a.k.a the account managers. These are relentless, compelling, and at times charming. They can easily enforce their influence on a trader, and sooner or later this trader will be depositing a second, or third, or fourth time.
At some point during the scam, the user will start getting suspicious as to why she hasn’t been paid yet after only deposit for weeks on end. Every withdrawal request will be met with resistance, and depending on the broker the ways of refusal vary. Some might change your mind and solicit you to deposit more, others might close down the user account, or shut down the entire website. A popular method is to stall until the scammer can completely disappear.
What to do if scammed?
The best advice we can give for those that have been scammed is to file for a chargeback as soon as possible. All credit and debit card companies should have this option on the ready. Note that MasterCard and VISA have extended their chargeback period to 540 days.
Bank transfer payments mean that the scammer can potentially get access to your bank account, so it is crucial to change your password and user name. Another good piece of advice is to contact the bank itself and check with them if they have a ready to go plan for such circumstances.
As for crypto deposits, they most surely are gone. That is what it is paramount to remember never to invest in a shady broker through any sort of cryptocurrency.
A final piece of advice. Victimized users might stumble on recovery agents or agencies, who will promise to get your money back, but not before you pay them a hefty fee. Once the charge is paid, they will sooner or later disappear without helping you even one bit.
Lucy
EuroInvestPartner is a scam using aggressive cold calls from changing fake phone numbers, especially from +44 numbers seemingly coming from the UK but they can come from any country. AVOID EuroInvestPartner it is a 100% scam by all research online. No good legitimate investment company calls people from fake numbers promising big profits. Avoid this scam company.