Beware! EpicInvests 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.
EpicInvests is the latest in a long line of unlicensed offshore brokers – none of them can provide a legitimate reason to pick their services over a regulated broker, and EpicInvests is no exception – here is why the company is best avoided:
EpicInvests regulation and safety of funds
EpicInvests is not licensed – and what’s more, it hails from St. Vincent and the Grenadines – one of the most notorious offshore scam havens out there. Here is where the broker operates from:
What’s so bad about St. Vincent? Well, it does not regulate its Forex markets in any capacity. Brokers from there cannot even prove they are not running a scam, much less that they have what it takes to survive on the volatile Forex markets.
They cannot provide you with any additional protection for your funds – compare that to brokers from the UK, for example – their clients have access to guarantee funds, Negative Balance Protection and much more, which makes trading with them infinitely more profitable than anything EpicInvests can offer!
EpicInvests trading software
EpicInvests provides access to a web-based trading platform that is rather lacking when compared to industry standard Metatrader 5 – notably, there is no automated trading available anywhere on the platform. Here is what that software looks like:
The trading conditions on it are not good whatsoever – first off, EpicInvests only provides access to share and commodity CFDs – for some reason, Forex trading is not supported at all, even though EpicInvests explicitly advertises it on its website. It is also unclear what leverage the broker provides access to, as it is not mentioned anywhere on the company’s website.
All of this makes trading with EpicInvests completely fruitless.
EpicInvests deposit and withdrawal methods and fees
EpicInvests demands all deposits are made with the assistance of someone from their support team – as you can see below:
This means we are not sure what deposit methods EpicInvests accepts – but if you have deposited with the broker already, we urge you to file a chargeback – otherwise, you would have to contend with EpicInvests’ withdrawal fees, outlined below:
Such fees are too high, when legitimate brokers simply waive withdrawal fees altogether as a sign of good faith nowadays. There is a similarly high fee on inactive accounts:
Needless to say, no legitimate broker would charge as much for inactivity.
The worst part about EpicInvests, however, is the fact that the company will not let you withdraw any of your profits – here is what the broker has to say about its Bonus policy
Bonuses required a certain turnover to be achieved before they can be withdrawn – otherwise, they cannot be withdrawn, as well as the profits the client has made. Here is what that volume requirement looks like:
The turnover might seem possible, but the fact of the matter is that there is no guarantee that anyone would be able to achieve it.
How does the scam work?
EpicInvests is undoubtedly running a scam – and what’s more, we have seen that exact scheme unfold countless times before – here is what usually goes down:
Someone stumbles upon the website EpicInvests runs – and from it, they are prompted to make an account. If they decide to do so, the scammers demand them to leave a phone number in the process – and if they get their hands on it, they will start calling around the clock to demand deposits. More and more money will be taken from the victim, until they either realize they are being conned, or run out of money – at which point the scammers will simply cease all contact with the victim and disappear.
What to do when scammed?
If you have been scammed, we encourage you to take the following steps to make sure you do not suffer any further losses:
First off, reissue whatever forms of ID, credit cards and so on the scammers had access to – also remove any remote control software they had you install on your PC.
Secondly, contact your bank and see if you can get a chargeback – but even if it is not possible, do not trust recovery agencies that demand an upfront payment for their services – they are also running a scam.
Finally, do not hesitate to leave a comment below and tell us of your experience with EpicInvests – in doing so, you will be helping us raise awareness of the scam, which is the best way to combat it.