Beware! This 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.
Robo Invest is hardly the regulated, reliable broker it wants you to think it is. This broker not only provided false license information but had concerning conditions regarding withdrawals and provided access to a rudimentary trading platform. In other words, you have no reason to choose this company over a reliable, licensed one. Read the full review below.
Robo Invest Regulation and Safety of Funds
Robo Invest claims to be based in Switzerland but does not have a local license. This is hardly surprising – few brokers are authorized to operate in Switzerland since that requires nothing short of a banking license. What the broker claimed is that it is “authorized and regulated by The Securities Commission of the Bahamas” and by the Financial Conduct Authority of the UK. When we checked the registers of the FCA and the SCB, however, we did not find a regulated company with that name and license number. This simply means that Robo Invest has lied about being regulated – a huge offense in the world of trading and sure proof that we are dealing with a scam broker.
Make sure to only trade with regulated brokers, preferably ones based in strict jurisdictions such as the UK, the EU, and Australia.
Robo Invest Trading Software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|Robo Invest platform||❌||❌||❌||❌|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Robo Invest provided access to a very basic web-based trading platform. This is hardly surprising since few scam brokers actually offer well-known industry-leading platforms like MetaTrader 4 and MetaTrader 5. Trading on simple, rudimentary software is a waste of time since you would not be getting access to any worthwhile tools and features. Better check out legitimate brokers that offer MT4 or MT5 – checking out more functional software is a much better use of your time.
Robo Invest Trading instruments
Robo Invest offers a decent range of markets – forex, commodities, metals, indices, and cryptocurrencies. However, the number of instruments itself was a bit limited – legitimate brokers can often offer access to hundreds, and sometimes thousands, of instruments.
Robo Invest Spreads and Cost of Trading
Although Robo Invest promised spreads of around 1.8 pips on its basic account – which we opened – we got much better results on their platform – 0.4 pips on major currency pairs such as EURUSD, GBPUSD, and USDJPY. This is a weird discrepancy since brokers usually try to present themselves in the best possible light. Moreover, such amazing spreads are almost impossible without extra commissions – the broker would barely be profiting from having you as a client.
What such great results usually mean is that the scammers have done something to manipulate their platform. Better work with one of the many legitimate brokers that offer decent spreads.
Robo Invest Maximum leverage
|Robo Invest broker||100:1||100:1||100:1||100:1||100:1|
|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||❌||❌||❌||❌|
Robo Invest offers leverage as high as 1:100 – even on very volatile assets such as cryptocurrencies and indices. No broker licensed in the UK (which this broker claims to be) can offer such high rates to retail traders. In the UK, as well as in many other stricter jurisdictions, leverage restrictions exist with the aim of protecting customers. Trading with high leverage might result in far bigger losses if you are an inexperienced new trader which is why you should always be careful with your settings.
Robo Invest Deposit and withdrawal methods
|Deposit time||Withdrawal time||Fee|
|Credit card||5-10 minutes||7-10 business days||No information|
|Crypto||5-10 minutes||7-10 hours||No information|
Robo Invest accepts deposits made with a credit/debit card or in crypto. We strongly advise you against depositing in crypto with unreliable brokers. Many scammers urge their clients to use this particular payment method because such transactions are both anonymous and irreversible. Visa and MasterCard transfers, on the other hand, can easily be reversed within 540 days of the transaction.
If you have already made the mistake of depositing with this fraudulent broker, your chances of getting your money back will depend on the payment solution you have used. If you have deposited with a credit/debit card, contact your card issuer as soon as possible to see if anything can be done in order for you to get your money back.
Robo Invest Minimum deposit
Robo Invest seems to offer affordable trading accounts with a minimum deposit starting from $100. This might sound tempting but the offer is hardly unique – plenty of legitimate brokers also offer accounts that would cost you $100 or less.
Robo Invest Withdrawal requirements
Unsurprisingly, Robo Invest has some quite crazy withdrawal requirements. The broker asks its clients to withdraw at least $500. That might not seem like that much but legitimate brokers usually refrain from having such conditions.
Moreover, the broker has quite suspicious conditions when it comes to the bonuses it offers. First of all, bonuses are banned in the UK where this broker is supposedly licensed. Second of all, many scammers use the exact same trick – they deny all withdrawal requests before the client has reached some sort of insanely high turnover. In this case, that turnover is 25 times the deposit plus the bonus. Before reaching that turnover, you would not be able to withdraw anything from your account – even deposits and profits. That is why you should be extra careful what you are agreeing to – such conditions will make it impossible to get access to your own money at a later point.
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Robo Invest / offshore brokers||Bonus + deposit x 25||Unknown||$500|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|