Beware! EurInvesting.com 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.
EurInvesting.com’s website is the first major sign that we are about to deal with a common FX scam, offering nothing in return and being completely untrustworthy. The site employs the most cliched of all visual elements in the hopes of attracting an audience, and unfortunately considering that EurInvesting.com is still up, we have to concede that there are still folks out there that will blindly invest in this broker, and other similar to it. So we dedicate this review to them.
We opened a Micro account, or at least tried to. In the end, the broker could not or did not process our request, even though it tried to for over two minutes. In the end, we figured out that what was happening was that the firm was sending us an informal message: it does not want us in its business. This usually happens when a broker has something to hide, and it does not want suspicious sounding users’ prying eyes all over their shady operations.
So, we had no choice but to focus on the website’s delivery of trading conditions. Note that what we are about to reveal may be very far from the actual truth. The promoted tradeable instruments are forex currency pairs, shares, commodities, cryptocurrencies, and futures. The leverage has been capped at 1:1000, and the spread is said to be as low as 0.2 pips on some instruments. Later, we find the EUR/USD spread depends on the account type, with the Micro type being 2.1 pips. Most assets also seem to have a commission attached to them.
EURINVESTING.COM REGULATION AND SAFETY OF FUNDS
In terms of legal information, EurInvesting.com has to be the most stereotypical offshore broker.
First of all, it reveals in the footer that it is baes in the Marshall Islands, a country that is as far away from the mainland as it is detached from the world of FX. In the Marshall Islands it’s entirely possible to open a business without having to physically step foot on it jurisdiction, making it a very alluring location for all sorts of online investment scams, as you might imagine. Add to that the lack of a regulator and you have the perfect breeding ground for scammers.
What can be equivalent or worse than the Marshall Islands? Saint Vincent and the Grenadines, of course, the most popular scammer FX location in the world! The legal documents seems convincing enough when they states that the applicable laws of Saint Vincent and the Grenadines is what counts here. Essentially, this does not mean anything, for its laws are very liberal and can turn a blind eye to misconduct. Moreover, there is no FX regulator in place there.
And so, even if EurInvesting.com is registered in both Saint Vincent and the Grenadines and the Marshall Islands, it is definitely not licensed in either one. Actually, considering this and the lack of any further legal information, we have no need to stall the inevitable- EurInvesting.com is unlicensed and a risk to all!
It would be a big shame to lose all that money to scammers. By registering and investing in an unlicensed broker, you are indirectly throwing your money away for a completely futile and illicit cause. There is no reason to do so. That is why we urge our readers to rely on European, UK, US, or Australian brokers, or any licensed entity for that matter. Licensed entitles are covered by hundreds of requirements, many of them apply financial compensation schemes, and anti fraud practices. In other words, they are the exact opposite of what this broker and others like it stand for.
EURINVESTING.COM TRADING SOFTWARE
There is some sort of a web trader promoted on the site, but from whatever way we see it there was no access to it. The website proves nothing, and the unavailable user area blocks any potential access point to it.
EURINVESTING.COM REGULATION AND SAFETY OF FUNDS
The website reveals confusing details. The minimum deposit requirement changes depending on which section of the site you end up in. It’s either $100 or $250, or something completely different.
The broker mentions credit cards, debit cards, bank transfer in the legal docs, while the footer adds crypto wallets as availble payment methods. Also, EurInvesting.com mentions commissions and charges but does not reveal the purpose of all of them, leaving some important fees details out of the equation.
The information concerning payments is vague and confusing. Do not invest here!
HOW DOES THE SCAM WORK
Generally, the first step to being in a scam, whether a user is aware of it or not, is to bridge the crucial gap that exists between a user and a broker. With legit entities rarely does this go beyond the limits of formality, whereas with scammers they will try to behave as close friends, and will try to sell you as much as they possibly can.
It easy to fall prey to their sweet talk, because as financial instruments grow more complex, so do scammers, and there are surprisingly advanced swindle techniques that will leave you empty handed faster than you know. So make sure to think before you act, and to ask for professional guidance if necessary.
Contact usually begins at the online ads level, and expands to the telephone line relatively fast, depending on how good the scammer is and how susceptible he or she is to manipulations.
The ultimate goal is reached once a scammer successfully causes an initial deposit to be invested. Once this happens the user has become the victim, and from then on the fraudsters will try to retain the client for as long as possible, draining him/her along the way.
On average, it takes 2 to 3 deposits for a user to realize that something very unlawful is happening. By that point however, the broker will cut all communications with the user and will deny all withdrawal requests.
WHAT TO DO IF SCAMMED
The most common action to take is to file for a chargeback, but this happens only if the user has invested with a credit or debit card. That’s why you don’t get many investment frauds taking card payment nowadays. But the good news is that, if money was invested via a card, the chargeback period for MasterCard and VISA is 540 days.
Wire transfer deposits are harder to get back, and the only thing we recommend is contacting the bank to sort things out if possible. Oh, and make sure to change you bank account user name and password ASAP!
Crypto transactions are lost for good, unfortunately. As cryptocurrencies become more numerous and the systems underlining them more complex, scammer are taking full advantage of these aspects, and the end results are very lucrative. So, never trust unregulated brokers with crypto payments.
And then, we have to mention the other type of scammer, the recovery agents. These are either third party fraudsters or extensions of existing swindles, and will provide the seemingly impossible service of tracing your lost money. All they need is a fee for their effort, a sum of money that will be lost once paid.
