If you’re thinking about investing with an Investirex broker, think again! The financial market is rife with unscrupulous brokers whose sole goal is to take your money. When you begin online trading, you want a legal, regulated company that will prioritize your needs. Also, keep in mind that the market is highly competitive, but there is one line that should not be crossed: fraud.
We’re exposing a scammer in this detailed Investirex review, so if you’ve already come across this broker, keep reading.
Their website is devoid of background information. The only information visible is a UK phone number and an email address.
We also advise you to avoid investing in the fraudulent brokers BSWholdings, AFX Trade LLC, and CoinmasFX.
Is Investirex an authorised broker?
Castan Holdings Ltd, a company registered in Saint Vincent and the Grenadines in 2020, owns the broker. We checked Tier1 authorities because SVG has no financial regulator and brokers should obtain a license in the country of service.
The brokerage is not governed by the FCA, ASIC, BaFin, CONSOB, or any other major regulatory body.
How Safe Is It To Deal With An Unlicensed Broker?
Unlike non-legitimate businesses, licensed brokers are required to take extensive safeguards. For example, all licensed brokers must demonstrate their financial stability by maintaining a minimum operational capital. This amount is €730 000 for FCA-regulated brokers and $1 million AUD for ASIC-regulated firms.
Companies are also required to participate in the compensation schemes, which means that if the company goes bankrupt, each of their clients is entitled to a specific amount of compensation. This is not an option with Investirex.
Investirex claims to provide MetaTrader4, a web-based and mobile trading platform, but this is not entirely true. When you create an account, you will be given a decent, generic-looking web-based platform.
Overall, the platform is adequate and functional, but it falls far short of MetaTrader4 and MetaTrader5. If you want to try out the MT4, you must first register with a licensed broker. When it was first introduced in 2005, this software completely changed the trading world. The MT5 is an upgraded version, but if you are a beginner, MetaTrader4 may be slightly more accessible because it allows for advanced charting, customization, and many other features.
A mobile trader is also an option for the company. According to Investirex, the mobile version includes three types of charts: bars, Japanese candlesticks, and broken lines, as well as nine time frames ranging from one minute to one month. The mobile trader is only available for Android; it is not available for iOS.
Investirex Accounts Explained
The company provides three types of accounts:
Communication Channels for Customer Support
Initially, the broker will attempt to contact you by phone; they may also attempt to contact you through your social media accounts, email, WhatsApp, Telegram, and so on.
Employees will be courteous and will offer to assist. Things will change once you make a deposit and begin investing in your account. When you decide to withdraw the money, they will be very pushy and will go silent.
It’s a scammer’s routine, and Investirex trading is no exception.
What Trading Terms Does Investirex Offer?
The broker provides a comprehensive Terms and Conditions preview, but they make no mention of the commissions they charge. They also conceal information about account minimum investments and leverage ratios. Overall, this is untrustworthy!
Minimum Investment Amount
The minimum deposit amount is not displayed anywhere on the website, and the accounts contain only a few details. Only premium and VIP packages are subject to commission, and the base currencies accepted for deposits are EUR and GBP.
Investirex Deposit and Withdrawal Methods, As Well As High Fees
Investirex didn’t say anything about deposit methods. When we attempted to make the payment, the only information we received was that we should contact the account manager via mail or phone.
A few fees are levied by the broker. If you want to withdraw money and have not traded since your last deposit, you will be charged a fee of 3% of the total withdrawal amount. There is also a hefty dormant account fee, which means that the client will be charged a $40 activity fee and an additional $20 maintenance fee after six months of no trading activity.
Bonus Program – A Scam
Before we go any further, keep in mind that bonuses are prohibited in legal corporations. Investirex is offering bonuses, but it is unclear under what conditions. Please proceed with extreme caution because bonuses in scamming companies always come with strings attached. You will never be able to withdraw that money because you will never be able to meet their demands.
Scammed by Investirex Broker? – Tell Us Your Story
If you were duped by this broker, don’t hesitate to report it! Please let us know and schedule your free consultation today! Don’t let scammers walk away with your money. Our knowledgeable staff will provide you with all the assistance you require to recover your funds and file a chargeback dispute!