Investous Review: Stay Away from This Fraudulent Broker
The online forex and CFD broker Investous is part of the larger company, F1 Markets Limited. This company operates a few other brokers with similar offerings, StrattonMarkets, 24CM, and Europrime.
The broker has a registration with CySEC, the financial regulator for their base of operations in Cyprus. Even though they hold an official license from the CySEC they are still blacklisted from none other than FCA. This Investous broker review will tell you all you need to know regarding this brokerage.
|Forex, and CFD
|MT4 and WebTrader
License and Regulations of Investous
When the UK’s FCA started banning Cyprus-based CFD brokers, Investous was first on the chopping block. In June 2020, the FCA rescinded the passporting rights of F1 Markets Limited, meaning their CySEC registration no longer afforded them the right to solicit UK clients. The ban came after a scandal involving several CySEC-registered brokers using fake celebrity cameos to advertise their services.
After the UK ban, CySEC took action against the broker as well. Several brokers received a partial suspension for their fake celebrity endorsements. They were unable to take on any new clients during this time. The regulator required the brokers to implement corrective actions before they would remove the suspension. Not long after this ban, the brand changed the owner and moved to an offshore country.
Trading Platform Available at Investous
The broker has both MetaTrader 4 and another web platform available. MetaTrader 4 features the array of technical indicators and charting tools that traders have come to expect. Their web platform is a little oversimplified.
The layout is easy to navigate and understand, but they left out many advanced features. Their platform is also available as both iPhone and Android apps.
Investous Account Types
Investous offers the following trading accounts:
- Basic $250
In regards to the other accounts the minimum required amount you need to deposit is unknown. Considering the whole situation that happened with Investous and the FCA, we don’t recommend you to invest with them.
Additionally, Investous does not offer a demo account to any new clients who are looking to try out their services before signing up for a live trade account.
Deposit and Withdrawal Methods
Investous offers the following deposit methods:
- Visa or Master credit or debit card
- Wire transfers
But since the broker went offshore, we are not surprised to see many complaints related to withdrawal issues. Despite the payment provider still being in Cyprus, Leveltime Services Ltd has no CySEC regulation.
The broker currently holds IFSC regulation, meaning there is no actual compensation fund. Clients have to deal with this broker on their own and try to get a refund. According to many Investous reviews we’ve had a chance to see, the broker is blocking clients accounts and losing their money on purpose.
Offshore Brokers Fraudulent Tactics
People sometimes become careless and leave personal information on the internet, and once these investment scams get a hold of them the harassment will likely start.
You will soon be overwhelmed with an enormous number of calls and even emails just so you will at least make a minimum deposit to this fraudulent broker. Be prepared to hear many made-up stories so they would appear more legit in your eyes.
Don’t feel ashamed if you have ever fallen victim to this type of deception, many people do, just be sure to report your scammer. We also encourage you to reach out to us as we can help you.
Note: Scammers are cunning and cunning! The best way to avoid falling into their trap is to stay informed. Don’t miss our review of another scam broker – In369.
In our thorough Investous review, we tried our best to warn you against this scam broker and the fraudulent activities they pull off on a daily basis. They allegedly offer their customers an opportunity to invest in forex and CFD. However, with so many complaints and people claiming their money was just wiped out, it’s best to stay away.
Additionally, even though this broker used to have a CySEC license, keep in mind that they lost it in 2020, and on top of that, they have been blacklisted by FCA.
Think twice before taking any risks while investing money and keep in mind that this investment scam will demand at least $250 while legit brokers will ask for as little as $5 as an initial deposit.
FAQs About Investous Broker
Is Investous Regulated?
No, they used to be, but lost their license back in 2020 and on top of that, they have been issued a warning by FCA.
What is The Minimum Deposit for Investous?
The minimum deposit this scam broker has set for their potential clients is $250, which is common with frauds of this kind.
Is Investous a Trustworthy Broker?
No, they are not a trustworthy broker even though they try so hard to look like they are.