Beware! INVOFW 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.
INVOFW is yet another fraudulent firm without a doubt. Its website is 100% look-alike with some other scam pages we have reviewed for you so far. There are some mild changes, but the concept is the same including its absurd claims and even whole paragraphs. Even though this broker claims to be regulated by multiple world-wide jurisdictions, don’t let it fool you. INVOFW is not licensed and bears all hallmarks of scam possible.
Its trading conditions aren’t favorable either – you can see risky leverage, mediocre platform and insecure payment methods. So if you want to trade forex pairs, stocks, cryptocurrencies or any other asset, choosing INVOFW would be a horrible idea. For more details, keep reading the full review.
INVOFW Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
INVOFW claims its registered address to be in Bristol, the UK and displays an email and phone number. This broker also claims to be regulated by many well-known financial authorities like the Financial Conduct Authority (FCA) of the UK, the Australian Securities and Investments Commission (ASIC), IFSC of Belize and many more. Looking at its fancy website everything may look credible to an inexperienced trader. However the truth turned out to be quite the opposite.
We searched the registers of FCA and INVOFW wasn’t on the list, but it was to be expected. We can spot the scam from a mile away and this website is a typical example of a fraudulent scheme. Take a look at the search results for example:
We can assure you that this broker is not authorized by either of the regulators listed on its website. This is also typical for scammers – they tend to overdo it in a silly attempt to look reputable.
And even though INVOFW claims to keep your deposits in segregated accounts and to participate in compensation schemes (like a UK regulated broker would normally do), don’t trust even a word it says! This firm is not licensed, as we already mentioned, so we have no reason to believe that it would follow any requirements or guidelines.
INVOFW Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|cTrader||40+ indicators||✅||✅||Android and iOS|
INVOFW claims its trading platform to be a product “of the best developers and financial experts” and to contain “the most innovative tools and functions”. The whole description repeats word by word what other scammers have claimed, so we are pretty sure that the same fraudsters are staying behind this website as well.
Anyway, as it could be expected, none of those bold statements are actually true. INVOFW offers a random web-based platform. Take a look:
The first thing that you can spot here is that everything is in Russian, which is rather strange. Apart from that, the software itself is nothing exceptional. As a matter of fact you can use just simple tools, but no custom indicators or auto trading are available. Such advanced features can only be seen with more sophisticated types of software like MetaTrader 4 or MetaTrader 5.
INVOFW Trading instruments
INVOFW claims to offer some of the most popular assets like forex pairs, cryptocurrencies, metals and indices and you can see the same on its platform. This is a rather limited range of assets if you ask us. Most regulated brokers tend to offer a wider choice including some stocks and commodities for example.
INVOFW Spreads and cost of trading
On its website INVOFW doesn’t mention anything in particular about the spreads it offers. On its trading platform there was a spread of 0.1 pip both for EURUSD and GBPUSD. This seems like quite an advantageous volume, yet it’s too good to be true. Don’t forget that this broker is totally unlawful. It also lies about so many things so far, that it will come as no surprise if the broker manipulates its software as well. It’s also not specified if there are any commissions ahead, so, once again – be on guard!
INVOFW Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
This broker claims to offer a leverage of 1:100 for its Start account. And while this amount is still considered risky, the volume can get even higher – the maximum leverage INVOFW offers is 1:500 for the rest of its accounts. This leverage is not only too high, but it’s also forbidden in most of the countries this broker claims to be based. To be precise, there’s a leverage restriction of 1:30 for the UK and Australia for instance. You can see more detailed information about this broker’s trading conditions down below:
On its platform we were able to see a leverage of 1:100 for forex pairs, Gold, stocks and indices, as well as 1:10 for crypto.
INVOFW Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Crypto||24 hours||24 hours||Fee depends on crypto|
On its website INVOFW claims to use “the most convenient methods of deposit and withdrawal of your funds” and lists some popular payment methods like Visa, Mastercard, MIR, Maestro as well as a crypto payment with Bitcoin.
After we registered this turned out to be a blatant lie. This broker accepts nothing more than cryptocurrencies – Bitcoin and Tether to be precise. Take a look:
Keep in mind that crypto transactions are 100% irreversible and anonymous so there’s a fat chance to retrieve your money.
INVOFW Minimum deposit
The minimum deposit with this broker is 150 USD. This is not too bad, given the fact that some reputable brokers tend to ask for around 250 USD. However, remember that genuine firms offer micro accounts as well, which require as little as 10 or even 5 USD, so there are much better options compared to what INVOFW provides.
INVOFW Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|INVOFW||Not disclosed||Not disclosed||Not disclosed|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
In the Withdrawal and Refund policy there is no useful data regarding this broker’s withdrawal requirements. In fact it seems to be copied from another website, as the data has nothing to do with what INVOFW offers. Moreover we don’t know if there are going to be any fees or taxes or a minimum volume requirement – a clear sign we are dealing with scammers. However, be prepared to face a high fee upon every withdrawal request – for example 15 or even 20%.