AllinvestFX Review: Reasons You Should Not Trust This Broker
An anonymous Bulgarian company is offering online financial services they don’t have a certificate for and they’re not even regulated anywhere. Does it sound like a good investment chance? No, not really, but that is exactly the case with the broker agency we’re reviewing today.
While they have the freedom to claim whatever they want and promise a ton of advanced tools, education and support, AllinvestFX is still a scammer. Although their supposed mission is to bring beginner traders and professionals an equal chance to achieve profitable trading results, these false statements do no good to any trader at all.
As a matter of fact, AllinvestFX doesn’t have a reliable trading platform, their trading conditions don’t respect the EU regulatory limitations and they offer bonuses. AllinvestFX does have an Educational center but the resources are very limited and they rely on someone else’s YouTube videos. Nothing was designed or put together by AllinvestFX.
We have more distressing facts about this site for you, so keep reading our AllinvestFX review.
|Company||Plan B LTD|
AllinvestFX License and Funds Security
Bulgaria is an EU country that has a jurisdictional regulator following the EEA directives. Still, while the general criteria has to be in accordance to the other EU regulators, Financial Supervision Commission in Bulgaria isn’t considered as one of the top tier financial institutions. Nonetheless, brokers in this area are only legitimate if they have a broker certificate from the Bulgarian FSC.
As all other regulators, FSC keeps their own track of the brokerage agencies they have licensed. After checking the database, we’ve established that AllinvestFX isn’t among them.
We decided to take a step further in our investigation and check other EEA regulators records of brokers with certificates. After diligently searching through the databases of FCA, BaFin, CONSOB, CNMV, FINMA and AMF we found nothing on AllinvestFX. This con artist can’t be any more anonymous!
If you had plans on investing here, we have to disappoint you. AllinvestFX cannot secure your investments through segregated bank accounts, so expect exposure to potential misuse. Not to mention negative balance protection won’t help you not to lose your entire investment and become indebted.
In case the company fails, the compensation scheme will not restore your capital deposited with the firm. In the end, by the lack of transparency AllinvestFX manifests, we can’t expect them to be making reports of their transactions as a MiFID rule of preventing money laundering.
Safety of funds is the most important aspect of becoming a trader. This agency doesn’t guarantee that, so better choose a legitimate broker before it’s too late. We’ll give some recommendations later in our Allinvest review.
Trading Platform Available at AllinvestFX
Sadly just a huge let down, AllinvestFX trading platform doesn’t have a single feature that would make it a world-class trading platform. An unmoving chart is supposed to tell you all the relevant values, but it doesn’t change when you choose a different instrument class.
Depositing is always possible, there’s no doubt the feature will always be functional, even if the world is falling apart. Everything else holds far less value for AllinvestFX.
We couldn’t muster a single reason why anyone would put their money on the line with this fake broker and their bogus software. A trading terminal is the most important factor in the process of buying and selling of tradable assets. Without it, you simply have no chance of making any profit at all, just losing everything you’ve invested!
Client area where the trading terminal is, doesn’t reveal much information about the money transferring procedure at AllinvestFX. Bank transfers and credit/debit cards are mentioned but the site automatically chooses the wire method for you.
However, that’s where it ends. For further instructions on funding your trading account you have to contact customer support/your account manager. Because of this sudden turn of events, we couldn’t decipher how depositing exactly works.
AllinvestFX doesn’t show what the minimum amount for depositing is.
Surprisingly enough though, the site has published a policy explaining withdrawals. Apparently you can’t submit a withdrawal request for an amount less than $50. The company processes the withdrawal request within five business days.
The demoralizing part is the bonuses policy that says that you have to make a turnover that is 30 times bigger than the deposit and bonus combined to be able to ask for a withdrawal.
How the Scam Is Implemented
Scammers are absolutely ruthless in their line of work. Constantly out looking for new victims, once they set their predatory eyes on you, nothing will stop them from contacting you. Tireless calling and emailing doesn’t stop until you cut off contact or until they persuade you to invest.
AllinvestFX is one of those legitimate-looking fraudsters that are ready to promise the world in exchange for access to your capital. Becoming their customer is easy, backing out of the dreadful loop is next to impossible. AllinvestFX declares how they have the right to amend, modify, update and change any of the terms and conditions of their contract with you.
Bonuses this con offers are the deadly trap for the beginner investors. Carrying different obligations and conditions, their goal is to obstruct your withdrawals. Be careful of the trading volume requirement of 30 x (deposit + bonus). If you do not reach it, AllinvestFX will retract the bonus from your trading account but also your entire deposit under various excuses!
AllinvestFX review we put together for you had one simple goal of warning as many traders out there about the devious intentions of this illicit brokerage site. At first the web presentation might seem comprehensive and alluring. Soon enough though, the more you look the more it becomes more confusing. AllinvestFX is claiming one thing while something else shows.
Various bonuses, from referrals to multiplying deposits are set as investment traps that pull you into their cage. The only way to outsmart the scammer before they manipulate you into investing is checking their regulatory status. No one will better inform you of that than a jurisdictional regulator. Trust what financial institutions in charge advise you, rather than risk with a bogus broker.
FAQs About AllinvestFX Broker
Is My Money Safe with AllinvestFX?
AllinvestFX offers no method of securing your funds. Despite all their claims, their actions prove different. This site is completely illegal and unsafe.
Is AllinvestFX a Regulated Broker?
This broker dealer is not a licensed financial services provider as our search through the respective databases has shown.
What Is The AllinvestFX Minimum Deposit Amount?
The site doesn’t reveal this information and neither does the investment panel.