Beware! Inveslo 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.
Inveslo is an exciting broker for us. Its registration is weird, some of the trading provisions are highly controversial, and to our surprise, it even reveals who’s the founder of the brokerage. Seemingly, Inveslo is merely trying to save money and provide hot trading conditions, but it’s not safe and we are going to discuss why in the following review.
Inveslo REGULATION AND SAFETY OF FUNDS
Inveslo is registered in Kazakhstan and pretends to be regulated there. Well, that’s not true- Kazakhstan doesn’t regulate Forex brokers. Moreover, the financial sector in the country is a mess as there are at least three different financial authorities. Kazakhstan is plagued by corruption, too, so we can’t take the broker’s registration seriously.
In fact, Inveslo is not much safer than a typical unlicensed offshore broker. Still, to our surprise, it operates somewhat transparently- the founder’s name is revealed, and we could identify the individual who’s actually experienced in the FX corporate world.
Nevertheless, Inveslo is unregulated, so your funds will be at risk if you deposit. You’d better avoid Inveslo and see the high-rated EU brokers and British brokers on both lists instead. We recommend these companies because they are proven safe but also covered by deposit insurance funds. For example, CySEC brokers’ clients can claim up to €20 000, while the guarantees in Britain are up to £85 000.
Inveslo TRADING SOFTWARE
We already labelled Inveslo as an unreliable broker in the previous section, and you’ll understand what we are talking about if you see the screenshot below. Namely, we couldn’t register, so Inveslo’s software remained out of reach. It claims to offer MetaTrader4, and that’s probably true, but the broken registration page is a spectacular failure.
Speaking of software, we’d like to offer the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists. We put MTs forward as the terminals in question deliver peerless advantages- reliable indicators, easy-to-use charting tools and sophisticated features such as Expert Advisors.
The alleged EUR/USD spread for the starter account is 2.1 pips, which is still a tolerable Buy/Sell difference, but many brokers are now offering even lower rates for a deposit as little as $5.
As for leverage, it’s 1:2000– an insanely risky ratio that can cause a total loss if clients mishandle it. Moreover, as an unregulated broker, Inveslo doesn’t have to provide negative balance protection, so clients can not only blow their accounts within seconds but even get indebted to the broker! Beware!
In fact, extreme ratios as this one practically turn into gambling, and that’s why most of the reliable regulators around the world restrict its usage to bring the market back to normality. Namely, due to regulations, licensed EU, British and Australian brokers have to limit retail clients to 1:30, while Canadian brokers and US brokers to 1:50, respectively.
Inveslo DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit is $100 via Credit/Debit cards, Wire Transfers and Cryptos. However, we can’t validate this as we couldn’t register. Nevertheless, while talking about funding, see the Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers on top of the lists if you have a trusted payment system.
There are no minimum withdrawal restrictions, and the requests are allegedly processed free of charge. However, as Inveslo is unregulated, you can’t actually be certain that your funds are kept in segregated accounts in big EU, American or Australian banks. In such a case, additional fees may incur, which is certainly a downside.
Inveslo offers bonuses, but we didn’t find questionable additional provisions. Nevertheless, incentives are risky, and that’s why the EU regulators and FCA in Britain prohibited bonuses. Actually, Inveslo is undoubtedly trying to present hot offers to the traders- 1:2000 leverage and bonuses, but that comes at a cost- eroded safety.
HOW DOES THE SCAM WORK
Overall, we can’t label Inveslo as a scam, but it’s unreliable, so you should avoid it. We really wanted to rank the broker better as it’s trying to be transparent, but we won’t do it. Nevertheless, we’ll briefly illustrate how most of the scams work.
Scammers are prowling online by creating fraudulent websites, social media profiles and ads. Once you get trapped, they will pretend to handle your account and display winning trades to make you believe it’s worth dealing with them. However, scammers won’t let you withdraw profits but will constantly urge you to deposit, again and again, asking for much greater sums. Make no mistake about it; those criminals will try to squeeze as much as possible from you, so they’ll advise you to invest as much as possible in their scheme.
You’ll probably understand what’s going on as soon as you become determined to get your money back. When scammers realise you won’t deposit again, they’ll shamelessly announce that you can only withdraw if you pay taxes in advance. If you are persistent and refuse to follow their instructions, they will simply stop answering and disappear. Then, whenever fraud becomes publicly exposed and worn out, scammers will abandon the website getting away with their crime because the fraudulent brokers are anonymous and unregulated.
WHAT TO DO WHEN SCAMMED
Unfortunately, no one is immune to scams. If you get scammed, the first thing you need to do is to consider the secondary risks. Deactivate your credit card and contact your bank and ask for advice.
Then, report what happened to you, file a complaint, contact the authorities, call the police if you feel necessary. Seek help actively!
Remember, it’s crucial not to rush blindly to recover funds because fraudulent chargeback agencies and individuals are stalking, trying to double scam the victims. They ask for upfront payment, take the money but won’t do anything to help you!
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