Beware! Success26inv 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.

 

Success26inv claims to be a regulated and award-winning forex broker we can trust with peace of mind. But before you put your money on the line you should always do a careful fact check. And in the case of Success26inv, the check reveals that this is not a legitimate financial services provider, but yet another online scam. Let’s take a detailed look at how you could tell the fake brokers from the trustworthy ones.

Success26inv Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
Success26inv
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

The first thing to look for in a forex broker’s website is which legal entity runs it, where it is based and what regulatory oversight it is subject to. Licensed companies are also required to provide a comprehensive set of legal documentation. Success26inv does not provide access to a Client Agreement or other required documentation.

According to the website, this broker is run by a company called Success26Inv Ltd. A contact address in France is given, but at the same time the company is allegedly licensed by the Central Bank of Ireland.

A check of the institution’s database shows that this is not true.

Moreover, the French financial regulator Autorité des marchés financiers (AMF) has blacklisted Success26inv.

When choosing a broker through which to invest in the financial markets, you should not only make sure that all the information required by law is available, but also that this information is true. Always check that the company is indeed on the records of the specified regulator and that the domain used is among those officially approved for the particular broker.

There are many benefits for retail traders to trade through a licensed broker in the EU. These brokers must maintain a minimum net capital of at least EUR 730 000, which guarantees that the company is financially stable and has a serious long-term approach. When clients deposit money in their trading accounts, they are kept segregated from the broker’s operating funds in separate bank accounts. Thus the clients’ money remains shielded in case of mishaps like a broker’s bankruptcy.

All brokers licensed in Cyprus and other EU countries are members of the Investor Compensation Fund, which may cover a maximum of EUR 20,000 per person in the event of broker insolvency.

Success26inv Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
Success26inv platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

Success26inv  implements standard web-based trading software. Here is how it looks like:

While this platform has the basic functionality to place orders, it cannot compare to the capabilities provided by MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It is no coincidence that these platforms have established themselves as the industry standard. They offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

Success26inv Trading instruments

CurrencyStocksIndicesCryptoCommodities
Success26inv
XMYesYesYesNoYes
FBSYesYesYesYesYes
FXTMYesYesYesYesYes

We see financial instruments from all major asset classes on the Success26inv trading platform. But as stated, the trading offered by this type of fake brokers is fictitious.

Success26inv Spreads and cost of trading

Success26invXMFBSFXTM
Spread EURUSD20.611.1
Spread GBPUSD21.31.21.4
Spread USDJPY21.31.21.4

In the trading platform, we see a spread of 2 pips, which is higher and unprofitable than the industry average.

Success26inv Maximum leverage

ForexStocksCryptoGoldIndices
Success26inv500:1100:110:1100:1100:1
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

Success26inv offers leverage between 1:200 and 1:500 for different account types, which is also proof that this is not a broker licensed in Europe. Regulated brokers do not offer such levels to retail traders as trading with high leverage carries risks of sudden and excessive losses.

Another such piece of evidence is the claim that Success26inv offers bonuses. Regulated brokers are prohibited from offering bonuses and promotions. Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms. Success26inv does not provide clear information about the conditions attached to bonuses.

If you are willing to take the risk of trading with high leverage and benefit from bonuses and promotions, the best option is to invest through an offshore division of an established brand.

Success26inv Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Bank wire2-5 business days2-5 business days$25+

The only deposit option is a bank transfer to a UK bank account. The owner of the account is an Australian company,  B-paywize Pty Ltd. The bank transfer does not allow you to request a refund or chargeback.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.

Success26inv Minimum deposit

Success26invXMFBSFXTM
Minimum deposit€1000$5$10$5

According to the descriptions of the account types, the minimum deposit is 250 USD, but the deposit menu itself sets a much higher minimum of 1000 EUR.

You should know that for as little as 10 USD or EUR you could open a starter trading account with some of the industry’s leading brands.

Success26inv Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
Success26invNot specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet  withdrawal terms.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *