Investgrin review: 5 things you should know about investgrin.com

Investgrin review: 5 things you should know about investgrin.com

Rating: 1

Beware! Investgrin is an offshore broker! Your investment may be at risk.

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The only way that Investgrin can grab one’s attention is if it actually starts throwing confetti at the user. No but seriously, this broker is really bad and it is a waste of everybody’s time and money. We cannot find one good reason to use it, but there are countless reasons why users should avoid it. In the following review we have revealed just the major reasons why Investgrin is a scam and a risk, which are more than enough to deter everyone.

Investgrin is in a rush to scam clients, evidence by the easy and quick to complete registration area. Moreover, the user area was very familiar and we knew at once that we have seen this one before in the past. And not once was this client dashboard ever used by a legit entity.

And then we stumble upon on of the major issues with this broker. The so-called web trader is offers is nothing more than a sham, a joke. There is no trading software, and no matter what the broker says or offers in trading conditions, as good as they seem, it’s all misleading information. Investgrin does not posses a trading platform. Therefore, all the trading details such as spreads, financial instruments, and leverages simply do not apply to the broker.

Make sure to check out the best high leverage offering brokers in the industry. Here users can take advantage of higher leverages with licensed brokers.

INVESTGRIN REGULATION AND SAFETY OF FUNDS

Investgrin states to be regulated by the Belize International Financial Services Commission (IFSC). This would have been excellent news for us and the broker, but unfortunately there are no results for one Investgrin in the regulators databank.  Therefore, in reality, Investgrin is not at all licensed by the regulator.

The we are told that the broker can be reached via its UK contact address, which is in direct contradiction to the fake Belize statement. Not that the UK claim is anywhere near the truth. In fact, there is nothing legal in this statement; Investgrin is not regulated by the nation’s FCA, and there is no real way to make sure that it is registered on the address it has given. And even if it was, it still would be illegally registered.

And then we have another major issue, namely the missing legal documents. Without these there is nothing standing in the way of the scammer to do as it wants. So, we urge our readers to stay away from this unregulated and scammer broker!

These are the kind of brokers you are looking for: any one of the following EuropeanUKUS, or Australian firms will do. Do not invest your money in unlicensed companies that will do nothing good but steal your cash and leave you frustrated. Regulated brokers are covered by all sorts of requirements, some even guarantee the inclusion of a compensation fund – most notably the FCA and CySEC. But what’s even more important is that all these brokers can be issued warnings and can be forced to change their ways, meaning that clients can have a say in their future should any regulated broker starts acting in indecent ways.

INVESTGRIN TRADING SOFTWARE

This is a complete failure on the broker’s part:

These are nothing more than a collection of charts unaffiliated to each other, and nothing more. There is no real interactions one can make here.

Moreover, the user area also presents us with a couple of third party graphs that are completely useless. But the big thing is the MT4 and MT5 web traders that were nevertheless worthless. Both these came with the original demo accounts offered by the MetaQuotes site, meaning that they do not represent the firms own trading conditions.

INVESTGRIN DEPOSIT/WITHDRAW METHODS AND FEES

The user area reveals that the available payment methods are credit cards, debit cards, bank transfer, and BTC wallet. There is no minimum deposit requirement. The client can proceed with just $1.

The withdrawal area reveals that there are no withdrawal fees and that this process uses the same payment methods.

And that is all the payment details we have for you. This means that there might be hidden fees and other conditions that the firm has not spoken of. But clients should not be too concerned with these considering that the firm is a scam. Do not invest in Investgrin; it will take everything you provide it with!

How does the scam work

The scam works by bridging the distance between a user and the broker. It’s crucial for the scammer to try and find the perfect customer, one that will give in and invest at least once.

This happens when the broker goes “phishing”, or on the look out for users by advertising its scammer broker platform on social media sites, via spam email, or at times via phone. The ultimate goal is to contact the user and start sweet talking him or her. It also happens that the user will stumble upon the fraudulent platform by accident.

The scam is truly initiated once the client agrees to invest and actually does so. Then the broker will try to build a false sense of trust that will culminate in a second or third deposit. This wall inter-faith is usually constructed brick by brick- by lying to the client, by giving him a small taste of falsely accumulated profit, by locking withdrawals behind impossible requirements, and by being very convincing in one’s rhetoric. Scammers are, after all, very good persuaders, and their inherent but artificial charm is part of the whole deal.

There is a moment in time in which the user in question will start to doubt the platform, and will demand his money back. All scammers anticipate this moment, and they have prepared for it since the beginning. They will close all communication channels, will block the account, or at times will  shut the entire website. But they will never return the stolen funds!

What to do when scammed

The first thing anyone should do is file for a chargeback, but this works only if the client had invested with a credit or debit cards. The good news for those that have is that the chargeback period for MasterCard and VISA is 540 days. Nowadays, scammers tend to forgo credit and debit cards because of this chargeback period.

Wire transfer loses are also possible to retrieved, although not guaranteed. The best advice we can give you is to contact the bank in question and try to figure out a solution together. What we urge is to change ones bank account user name and password.

The most popular scammer payment method is definitely the crypto wallet. All investments are untraceable, and there is no way to find where and who gets it. It’s explanatory why most scammers offer crypto wallets.

And then there are the recovery agents and agencies, all of which are scammer, either directly connected to the given FX fraud, or a third party scheme that tries to take advantage of a user’s desperation. These so-called agents will ask a commission for returning all lost funds; upon paying this fee the agents will stop responding.

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