Beware! Super1Investments.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.
We would be lying to our readers if we said that this broker surprised us or left us with fond memories of it after we were done with it. Quite on the contrary. Super1Investments.com is nothing more than your painfully average shady broker, whose one and true purpose lies hidden behind layers of well-crafted lies and deceptions. In other words, do not have too high a hope for this one. We urge you to read the review and see for yourself the true nature of Super1Investments.com, or to just see how to identify illegitimate brokers.
To open an account we had to complete a simple form, which took us no effort. After that, we were in. There is no real client dedicated area, and instead, the broker merges both the website with a couple of new sidebars available to registered users. It’s an approach that we have seen being used dozens of times, each time with what turned out to be, an unregulated broker.
We were slightly misled into thinking that the broker offered one platform when in reality it came with a totally different one. One this more disappointing trading software it was revealed to us that the tradeable assets are stocks, commodities, indices, forex currency pairs, and cryptocurrencies. The EUR/USD cost of trade was 3.5 pips, a value not worth your time or money for it is in no way lucrative. And finally, the leverage was capped at 1:400.
The website of the company is available in English, Russian, and German.
SUPER1INVESTMENTS.COM REGULATIONS AND SAFETY OF FUNDS
The company address is said to be located in the Marshall Islands. This is one of the few places where a business can be established without setting foot in the nation. I.e, the ideal place for scammer brokers! The Marshall Islands do not have an FX regulator, and thus Super1Investments.com is not licensed there.
In the terms and conditions, we came across an assertion stating that the company is actually abiding by the laws of Estonia, which is a common scapegoat for illicit brokerages. Just to be clear, the Estonian Financial Supervisory Authority does not regulate this broker. All this is, is a common misleading claim.
Moreover, we have a claim, actually a number of similar claims, that the broker’s website is not available to users whose current jurisdictions prohibit them from accessing the site. In other words, the broker sends a cryptic message in which it says it’s UNREGULATED but tries to convince the users that they must be legit and not it. This is all very common scammer broker stuff.
To deposit in an unlicensed broker is the equivalent of throwing your money away for no reason. We always say that the first thing to do when dealing with any broker is to check for a license; this should be your priority! Usually, we would go for either an FCA or CySEC regulated brokers or other respected overseers. These regulators all employ harsh rules and impose very severe penalties on those brokerages that do not abide by the scrupulous rules. Furthermore, some agencies, like the FCA and CySEC, include reimbursement schemes to all users of brokers under their wings. These compensation funds schemes, as they are called, are put into action once broker cannot pay their clients back to bankruptcy. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
SUPER1INVESTMENTS.COM TRADING SOFTWARE
Here we have a most common scammer broker trading office, with the addition of a TradingView chart. You might now from hundreds of previous reviews how we feel about these…
Here are the main features we discovered of this trading software: one-click trading, time frames, chart indicators, some other chart options, social trading, price alerts, stop-loss, and take-profit. Overall, it’s all that we have come to expect from illicit brokerages.
SUPER1INVESTMENTS.COM DEPOSIT/WITHDRAW METHODS AND FEES
Before long, our account was “put on hold”, and thus we could not proceed with getting the payment details from the payment portals.
According to the website, the minimum deposit is $250, and the available payment gateways are wire transfer, credit cards, debit cards, and BPay.
The minimum withdrawal amount is $100 for bank transfers and $50 for all other methods. The methods are the same as the ones used for investing. Requests are processed within 5 days, and there is a 3.5% charge on withdrawals. If the percentage equals anything less than $30, that the user will be charged $30. This is per the website, making this information not 100% trustworthy.
In conclusion, Super1Investments.com should be avoided at all costs!
How does the scam work?
The straightforward way into an investment scam is through the thousands of online ads that flood our browsers and social media sites. These are those familiar ads that promise impossible returns and luxurious lifestyles as a result of investing.
Succumbing to such ads will lead to either the scammer investment site, or to an intermediary source with close ties to this and other fraudulent websites.
In either case, the user will be asked to provide a phone number and probably an email address. The purpose of these is for the reps of the scam to be able to contact the client and push for initial investments. This is the first wave of the fraud, and is usually done by the rookie team.
The second wave is the pros, sometimes those behind the whole scam. These are charming and cunning individuals, whose communication skills can potentially result in the users to invest a second, or third, or even fourth time.
Basically, the scam continuous until the client realizes that she is being scammed. At that moment, when she wishes to withdraw or has questions for the scammer, it is already too late.
The culprits will easily ignore all requests or stall them. There are times when unlicensed brokers even terminate entire accounts, and on rare occasions entire websites are closed!
What to do if scammed?
The safest way to get your money back is to file for a chargeback using your credit or debit card provider. MasterCard and VISA have a chargeback period of 540 days. However, this only applies if you have deposited through a card.
Wire transfers are more difficult to reimburse, although some banks may have a specific plan for such times, so we advise users to directly contact their banks and ask them for help. What’s crucial is for users to change their bank account user names and passwords as soon as possible.
As for any funds invested through a cryptocurrency wallet, be sure that they are lost! Crypto transfers are untraceable!
And finally: never trust recovery agents or agencies. These are fraudsters who will ask for money in return for nothing. Do not trust these!