Beware! Investorstems 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.
Investorstems is most definitely a scam – the broker’s website looks like it was made by a 10-year-old and a huge part of it was down. We were also not provided with any sort of functional trading software, legal documentation, or comprehensive information about trading conditions. We do not believe that there is a person that would actually believe this broker’s lies – but if you were considering entrusting your money in the hands of these scammers, we strongly urge you to read our review and think again. Investing with such a broker will only lead to huge financial losses.
Investorstems REGULATION AND SAFETY OF FUNDS
Investorstems is a broker who prefers to remain fully anonymous – we got to learn absolutely nothing about the broker itself or the company behind it. This is partly because a huge part of the broker’s website is currently down and we were unable to gather any sort of essential information. However, the broker also followed the clear template of a scam – make bold promises without offering any sort of actual, comprehensive information. Investorstems is supposedly based in the US – but was nowhere to be found in the database of the NFA where you can check if a broker is licensed. This means that we are dealing with a dangerous, unregulated broker.
Check out these regulated EU forex brokers instead. The financial authorities of the EU – not only CySEC but also BaFin (Germany), CONSOB (Italy), CMNV (Spain), AMF (France), etc. – make sure that the EU financial market remains fair and transparent. All of these regulators operate under European Markets in Financial Instruments Directive (MiFID) which means that all of them have the same requirements for forex brokers. EU forex brokers are obligated to prove their financial stability by maintaining a minimum capital of €730 000. They must also keep client money in segregated bank accounts – which not only keeps your deposits intact in case of broker bankruptcy and speeds up withdrawals but proves that the broker would not be able to use your investments for its own agenda. The Negative Balance Protection policy prevents retail clients from losing more money than they have in their accounts. All regulated forex brokers are also obligated to report to authorities regularly to promote transparency.
Working with a regulated broker is the only way to trade safely – especially considering the huge number of scam brokers that have started operating in recent years.
Investorstems TRADING SOFTWARE
Investorstems does not actually offer any sort of functional trading software – when we opened an account with the broker, we did not even get a chart. All we got were a few tables tracking market prices. Without a trading platform, a broker is pretty much worthless nowadays- after all, forex brokers offer a certain service – trading. That can only happen on some sort of software – something Investorstems does not offer.
We would recommend that you choose a broker who offers a highly functional trading platform instead. The most popular platforms in the industry are MetaTrader 4 and MetaTrader 5 – and there is a good reason for that. Both of these platforms are fairly user-friendly and intuitive – but they also offer a full range of market-tracking and analysis tools, features like Expert Advisors, a Strategy Tester, a market for additional extensions, the chance to set trading signals, or develop custom scripts and much more.
Investorstems TRADING CONDITIONS
Investorstems does not say a lot about its trading conditions – when we tried to check the “Fees” and “Terms” sections of the website, we got a 404 message – those pages are currently down. The same goes for many other sections of the broker’s website – we were prevented from learning almost anything about Investorstems. But without a functional trading platform, talking about trading terms is pointless anyway.
The only thing this broker informed us about is that it requires a minimum deposit of at least $250 in order to open a trading account. This is not too bad – we would say such a price was fairly reasonable if we were dealing with a licensed broker. However, this is not the case here – any money you invest with Investorstems will inevitably be lost. Moreover, there are far more affordable options if you are looking for a good forex broker.
Investorstems DEPOSIT/WITHDRAWAL METHODS AND FEES
Investorstems only accepts Bitcoin deposits. This is just another sign that depositing with this broker is an extremely bad idea. Crypto transactions are always irreversible – all of them go into a ledger that cannot ever be changed at a later point – which means that you would never be able to get a chargeback on your payment. They are also anonymous since they can only be traced to a wallet – a string of letters and numbers – and not to an organization or a person. This is the perfect set-up for a scam – which is why all kinds of scammers might urge you to deposit in crypto. Unless you are completely sure you can trust whoever you are depositing with, do not use this payment method.
HOW DOES THE SCAM WORK?
Such scams are not only becoming more frequent but they are also surprisingly effective – which is why the first and most important step if you want to protect yourself from them, is to understand how they work.
You stumble upon a broker on the Internet – that broker promises to make you a rich, successful trader in no time. You are curious to see what forex brokers are all about – after all, you have heard stories of people becoming rich by trading – and provide the scammers with your phone number and email. After that, you would not be left alone before you have deposited – these people are seasoned scammers and will convince you to transfer money in no time.
This will not be enough though – the broker will keep asking for more and more money, and since scammers often manipulate profits and platforms, you might even be happy to invest because you would be thinking that you are turning a profit.
Once you try to withdraw, however, the problems will start – the broker will start denying withdrawals because of certain clauses in the Terms and Conditions, because of previously unmentioned fees and taxes, etc. At this point, you will find out that there is something wrong going on – but the scammers will be long-gone with your money before you can do anything.
WHAT TO DO WHEN SCAMMED?
Do not get desperate and do not employ any so-called “recovery agencies” that promise to track down the scammers and retrieve your money for a fee – this is just another type of scam.
What you should do is notify the responsible authorities in your country and contact your bank to let them know that you have been scammed. Change all your banking passwords and remove all remote access software the scammers had you install under false pretenses – they only wanted access to your computer and your banking systems.
If you have deposited with a Visa or MasterCard card, you might be able to retrieve your money – both card providers allow chargebacks within 540 days of the transaction so contact your card issuer as soon as possible.
Finally, make sure to share your story with as many people as possible to let them know that such scams exist and how they work. This way, others can avoid losing their money in the future.