Beware! Investkingdom.net 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.
Investkingdom.net is introduced as an advanced Forex and crypto broker, but it’s actually not. Its trading software is basic and cannot provide any advantages whatsoever, so the impression that Investkingdom.net is a sophisticated broker is actually false. The website is shiny, but it’s cheap and contains few details about the trading services. What’s more important in this case is that Investkingdom.net reveals absolutely no corporate information whatsoever, which is a major red flag to note! The so-called brokerage is a suspected scam, and we’ll explain why we claim so in the following review.
Investkingdom.net Regulation And Safety Of Funds
As already explained, Investkingdom.net refuses to disclose corporate information, showing warning signs due to the lack of transparency. In truth, Investkingdom.net is as shady as Lagos at night, and we need no more to suspect that it’s a fraudulent scheme dressed up as a Forex broker! Still, we researched, but quite expectedly, could find no registered companies associated with Investkingdom.net, let alone licensed ones. That said, Investkingdom.net may as well be a brand of an anonymous offshore IBC, but even if that’s the case, nothing would change, as Investkingdom.net would remain unregulated and practically illegal!
As explained, Investkingdom.net is risky, so why don’t you check our lists with adequately regulated and secure brokers instead? For example, both CySEC (Cyprus) brokers and FCA (Britain) brokers are proven safe as both authorities force strict regulations to guarantee safety for clients’ funds. The compulsory rules include client account segregation, risk-reducing measures like leverage restrictions and negative balance protection, and increased capital requirements to license a broker (€730 000). Most importantly, though, both authorities maintain deposit insurance funds – clients of CySEC brokers can claim up to €20 000 in compensation, while the UK protections are even higher at £85 000 per person! It goes without saying that if you trade with unregulated brokers, you’ll remain unprotected and exposed to fraud risks!
Investkingdom.net Trading Software
Investkingdom.net’s advanced platform is actually a simple Webtrader serviced by a third-party chart delivered by TradingView. Literally, everyone can put such a chart on its website, and the service is overall not so expensive even if you use the paid version. What we mean to say is that Investkingdom.net’s Webtrader is cheap and unreliable, so it’s worth being avoided.
That said, we can recommend our lists with MetaTrader4 and MetaTrader5 Forex brokers. The high-rated firms are secure, and we endorse them as both MTs are industry leaders known for their stability. The platforms are also packed with numerous advanced features such as automated trading and analytical tools, complex indicators and reliable charting tools, all of which can give you an edge in trading if you use them properly. In addition, MT4 and MT5 have a built-in marketplace, where you can find thousands of trading apps developed for traders by traders – currently, an unmatched feature you can get if you trade with an MT5 broker. Still, make sure to trust your money with adequately regulated firms in order to avoid scammers or other shady schemes that may harm you financially.
Investkingdom.net Trading Conditions
The trading conditions are standard. The asset classes available for trading are Forex, Stocks, Indices, Crypto, Commodities, Metals and NFT. The last class of instruments is considered insecure, highly volatile and still unexplored, so trading NFTs with shady brokers like Investkingdom.net will always be a bad idea! Beware!
The trading costs are seemingly good as the EUR spread is floating around 0.5 pips ($5 per lot traded). The difference is in line with the industry standard of 1 pip or below ($10 or less per lot), so why would you choose Investkingdom.net over adequately regulated brokers, as the price for trading is pretty much the same?
The trading risks can be high as leverage is 1:100 by default. The ratio has excellent profit potential, but at the same time, it’s overly risky and should be used with caution. What worries us, in this case, is that we found no way to reduce it, which is a warning sign indicating that Investkingdom.net creates a dangerous trading environment. Beware!
Investkingdom.net Deposit/Withdraw Methods And Fees
The minimum deposit is $250, a standard requirement of shady offshore brokers and other unregulated entities. It’s tolerable but still much higher than the demands of the affordable brokers, some of which open accounts for as little as 5 dollars.
The funding methods are Credit/Debit cards, Bank Transfers, Cryptocurrencies and some e-wallets (largely unknown, actually).
The minimum withdrawal requirements are unreasonable – $1 for Credit/Debit cards and $300 for Bank Transfers. Investkingdom.net’s business practices are unfair and offbeat, which is a warning sign nonetheless.
As for fees, Investkingdom.net claims that it doesn’t collect fees, but banking charges may incur during withdrawals – up to $30. Have a look:
How Does The Scam Work
Forex scams are different from one another, but in most cases, the fraudulent scheme is practically carried out in the same way. Scam brokers are always unregulated and usually registered somewhere offshore, which helps scammers remain anonymous and untraceable. If you open an account with such an entity, you should expect endless phone calls. Scammers will constantly try to approach you and make you deposit money as quickly as possible. Remember that urgency is always a treacherous sign, so it’s probably a scam if someone calls you twenty times per day, asking for money.
In the worst-case scenario, you’ll deposit, and scammers will persuade you to trade instead of you. You’ll soon see magnificent profits generated – false, of course, and you’ll get excited, asking to take your money back. As you probably guess, they won’t let you do so and will try to get another deposit from you, promising that much more lucrative gains are waiting. Or, they can ask for a false tax, saying that withdrawals are only possible if you cover the charge in advance. If you pay, you’ll increase the amount stolen from you, but if you keep asking for your money, you’ll soon realise it’s a scam!
What To Do If Scammed
You should first inform the authorities – call the police and contact your local regulators and other government bodies dealing with crime and fraud. Also, deactivate your cards ASAP and call your bank to inform them about what happened – they can provide essential information and help you reduce further financial damage.
If you deposited cryptocurrencies, there is not much you can do, but if you used your credit/debit cards, you could file a chargeback, hoping that all or some of the money invested can be retrieved. However, you shouldn’t go blindly looking to recover the loss because many fraudulent chargeback agencies are waiting to double-scam victims of fraud – be cautious about it!
And lastly, consider sharing your experience to help protect others and provide further information about how scams work!