Beware! Invexeo 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.
Invexeo is an offshore broker – just reading this, the savvy trader will know there is no reason to trade with it. But should this not be enough to deter you, we have reviewed Invexeo in full below:
Invexeo regulation and safety of funds
Invexeo is not regulated – and it tries to cover the fact in the most hilarious way possible – by making up the following regulatory body:
Make no mistake – there is no Global Financial Authority. In fact, sovereign nations regulate their markets in various ways, having more or less protections extended towards traders – for example, the UK has a negative balance protection policy, which does not allow traders to lose more money than they have invested – but that is not the case in the US, per se. This is why you need to be aware of what authority the broker you are trading with is licensed under – and what perks this gives you.
If the broker is not licensed, like Invexeo, you are always best off avoiding it – these companies cannot be held accountable and scammers prefer it that way – so the vast majority of unlicensed brokers are scams.
Invexeo trading software
Where legitimate brokers provide access to sophisticated trading platforms like Metatrader 5, allowing their traders to access powerful charting and automated trading tools, Invexeo only has a rather basic web platform available – here is what it looks like:
It does boast some tight spreads – moving under the 1 pip mark, generally accepted to be the standard for what spreads on FX majors like EURUSD should be. However, the leverage Invexeo offers is unknown to us – the broker never mentions it, on the platform or on its website.
Invexeo deposit and withdrawal methods and fees
Invexeo accepts deposits via credit cards and wire transfers – if you are still insistent on depositing with the broker, consider using a credit card, as that will allow you to file a chargeback within 540 days of any transaction.
A chargeback might be the only way you will ever see your money again after investing it with Invexeo – the broker does not have its withdrawal fees or conditions outlined in its Terms – but considering it is not licensed, we can only assume that withdrawals with Invexeo are going to be expensive and difficult.
How does the scam work?
Unfortunately, after having covered Invexeo in full detail, it is incredibly likely that the company is simply running a scam. The nature of that scam is very simple, and there are a lot of criminals out there following the same template – they start their scheme by buying ads, which promise incredible returns on investments and lead to pages like the one Invexeo runs. Once someone stumbles upon the page, they are prompted to make an account, leaving their contact information – and specifically a phone number – in the process – the scammers jump at that opportunity and start bombarding them with calls, demanding deposits. And should the victim deposit, more and more will be demanded from them, until they realize they are being scammed. At this point, the scammers will simply cut them off and leave their victim hundreds, if not thousands of dollars lighter.
What to do when scammed?
So, you have been scammed by Invexeo, or another company like it – well, do not despair! There are several steps you need to take to take back control of your finances and privacy from the scammers. First off, you will want to remove all software the scammers had you install on your PC – they will often use things like TeamViewer to snoop around on there without your consent. Also, you absolutely need to issue new IDs, credit cards and whatever other sensitive documents you gave the scammers access to – who knows what illicit goals they will be used for otherwise?
Once your privacy is sufficiently restored, you will need to think about getting a refund – the best way to do that is by contacting your bank and explaining your situation to them – they will guide you through the chargeback process, if that is available. However, watch out for fake recovery agencies – scammers often pretend to be such agencies and promise victims a refund of their lost money at the cost of an advance fee – but they will not restore your losses and will actually simply add to them!
Finally, the best way to combat this scam is by raising the general awareness of it – do not hesitate to leave you story in the comments below or share this article with someone you think might be vulnerable to such fraud. And remember – anyone can be the victim of a scam – the people running the schemes are masterful manipulators – so there is no shame in it.