InvestMarkets Reviews 2021: Should You Trust this broker?
Reviews. Investors should do all they can to protect themselves from online scammers by researching about any broker and looking out for any signs of a scam. But even the most seasoned investors aren’t beyond the reach of scams.
InvestMarkets is a broker trading in forex and CFDs. It’s linked to the failing 24option. In fact, if you go to 24option right now and click on “Sign Up”, you’ll be prompted to create an account with InvestMarkets.
They’re probably doing this because 24option has already been blacklisted from several markets.
Should you trust this well-known forex broker with your money? Read on to find out.
In case you have already lost your money, you can schedule a free consultation with us to learn how you can recover it.
Here’s what we know about InvestMarkets:
Overview of InvestMarkets
InvestMarkets is a well-known offshore CFD broker that uses the Scipio trading platform as well as MetaTrader 4. It’s an offshore trader, meaning it doesn’t accept clients within the European Economic area and other jurisdictions such as the UK, US, Australia, Canada, and British Columbia.
It’s owned and operated by Arvis Capital Limited, based in Belize City, in the Caribbean country of Belize. Toumpaka Limited, based in Limassol, Cyprus, acts as the payment agent and handles all its payment services.
InvestMarkets operates in several countries. Therefore, it’s available in several languages, including English, Spanish, Russian, Dutch, Portuguese, German, and Arabic. You can customize your trading account to denominate your money in either USD, EUR, or GBP.
InvestMarkets Account Types
For beginners, InvestMarkets provides a demo account with 100,000 virtual money in your preferred currency. You can test your investment strategies with the virtual funds before setting up a Live Account where you begin trading with real funds.
Live accounts start from $250, and you can select any of the four options (all of which get leverage of up to 1:500):
- Basic – $250
- Gold – $25,000
- Platinum – $100,000
- VIP – $250,000
You only have a week to try out the demo account, after which you’ll have to set up one of the four types of Live Accounts. Note that the forex broker doesn’t accept traders from the US or the EU.
Is InvestMarkets Regulated?
One of the most critical considerations for any trader when selecting a forex broker is their registration and regulatory status. Typically, government agencies such as the FCA in the UK, the FSB in South Africa, IIROC in Canada, and the CySEC in Cyprus provide oversight and regulate trading companies’ operations.
InvestMarkets’ regulatory status is a bit foggy. Arvis Company Limited, the investment firm that operates InvestMarkets, doesn’t seem to appear in CySEC’s books as a regulated company. Instead, it’s the broker’s payment processing partner, Toumpaka Limited, that is officially registered in Limassol, Cyprus.
On its website, InvestMarkets indicates that Arvis Capital Limited is a licensed investment firm by the IFSC (International Financial Services Commission). This is the official regulatory body of Belize. However, a quick check on the IFSC website shows that the investment firm isn’t in its current licensed companies’ database.
It’s sound investment advice to trade with licensed brokers to not run into problems when you try to withdraw your profits. Unregulated forex and CFD brokers pose greater investment risks since there’s almost no recourse in the loss of funds due to incompetence or dishonest trade practices.
InvestMarkets accepts withdrawals and deposits via safe banking methods such as credit cards, wire transfers, Skrill, eWallets, and PerfectMoney, among others. However, it charges around 3.5% for credit cards and up to 30 GBP/EUR/USD for a wire transfer.
These are rather high fees in addition to other over-the-top demands and requirements. There’s an 80 EUR fee charged to trading accounts that have been inactive for two months.
After six months of inactivity, the fee jumps to 120 EUR, 500 EUR between six and twelve months, and 1000 EUR for more than 12 months. Reactivating your account will set you back 2,000 EUR.
InvestMarkets Review Conclusion: Should You Trust This Trading Company with Your Money?
You shouldn’t trust it. InvestMarkets is a scam.
One of the first signs of a scam or a risky venture is the company’s registration status. Licensing and regulatory bodies do a lot to help investors safeguard their funds. They also compel the financial organizations to provide deposits that would compensate investors in the event of insolvency or if they have to cease operations before they relinquish the investments.
InvestMarkets doesn’t seem to operate within any major regulatory authority since there isn’t any unquestionable evidence of regulation. This is a typical sign of a scam. In this case, no government agency would help you recover your money in the event of unfair losses.
Arvis Capital Limited has several other identical brokers, including 24option. This is synonymous with scammers who, when they lose the trust of traders, rebrand or switch to other brands to continue their operations.
Other common signs of forex trading scams include the presence of barriers, endless hoops, and extensive delays in withdrawing your money, as the trader below discovered.
For many trading companies, the requirements for making withdrawals are more stringent than the ones for making deposits due to security concerns. But when the company makes it overly difficult to withdraw your money or slaps you with hefty hidden fees, they are likely a scam.
A licensed forex broker cares about their reputation and the potential heat from regulatory bodies. Therefore, they are unlikely to frustrate or block your withdrawal requests.
What’s more, these so-called account managers from InvestMarkets will keep calling you to compel you to deposit funds. They may do this even months after you’ve stopped using the platform.
Once again, InvestMarkets is a sorry scam. Don’t waste your time, energy, or money here.
Have You Lost Money with InvestMarkets?
It’s getting incredibly difficult to distinguish between legit trading companies and scammers. There has been a marked increase in the number of legit trading platforms and companies. However, there’s also been an increase in the number of scammers hiding behind such platforms, ready to defraud honest investors.
Even the most experienced traders may occasionally fall into the traps of scams. If you have lost your money InvestMarkets.com or any other trading platform, we can help. Schedule a free consultation today to find out if you qualify for our no-win-no-fee guarantee.