Likewood Invest Review: A Close Peek at the Unregulated Forex Broker
Engaging in the dynamic world of the FX market demands real trust in the credibility of your broker. Unfortunately, the LikeWood Invest brokerage fails to inspire such confidence, due to its glaring absence of a valid forex license.
Such a thing raises significant concerns about its legitimacy and reliability as a trading partner. In this comprehensive LikeWood Invest review, we aim to thoroughly dissect and analyze LikeWood Invest’s offerings. We will discuss regulatory status, account types, fees, potential for scams, and more. By the time you finish reading, you’ll be equipped with the knowledge required to make smart decisions. Stay tuned!
|Likewood INC Limited
|Unregulated Offshore Broker
|Warnings from Financial Regulators:
|UK & Hong Kong
|Envi FX Contact info:
|The majority of clients are from:
Likewood Invest Legitimacy
Despite its rather bold claims to legitimacy, our in-depth investigation into LikeWood Invest has brought some disconcerting revelations to the surface.
Notably, despite its representation as a reliable UK-based forex broker, LikeWood Invest is intricately linked to various deceptive practices.
What’s even more troubling is the fact that this brokerage operates without a valid Forex license. This is a critical requirement that signifies a distinct lack of regulatory supervision. Such a glaring absence is a major red flag that serious traders should not ignore.
Similarly, the Commission de Surveillance du Secteur Financier (CSSF), a regulatory authority in Luxembourg, has not turned a blind eye to LikeWood Invest’s questionable activities. In fact, the CSSF has gone so far as to issue a stern warning against this broker, explicitly identifying it as an unauthorized entity. These things paint a grim picture of LikeWood Invest’s true nature and the potential risks it poses. We cannot stress enough the importance of avoiding any involvement with LikeWood Invest. Your personal safety and the safety of your funds should always be a top priority.
When it comes to engaging in FX trading, it’s not only about the potential for big gains. The security of your investments is equally crucial. This is where the significance of trading with Tier 1 regulated brokers comes into play. Regulatory bodies such as the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC) are recognized worldwide for their strong oversight and commitment to investor protection.
Trading Assets Available
The trading landscape of Lakewood-invest.com contains a range of assets. Notably, they offer 200+ trading instruments. This allows traders to explore and earn on various market opportunities.
Within its portfolio, the brokerage offers access to Forex, Cryptocurrencies, Metals, Indices, Stocks, and Commodities. These categories form a mosaic of trading possibilities.
But, don’t be tricked by this, as we know this broker lacks regulation.
Note: It’s best to steer clear of Alfa Trading as they lack regulation.
LikeWood Invest Platform
Intriguingly, the process of registering with LikeWood Invest is currently inaccessible. While this may be perceived as a minor respite, it’s essential to remember this broker is unregulated.
Such an absence of regulation and limited accessibility deepens the risks associated with entrusting your funds to the platform. A trading platform serves as the foundation for executing trades and managing your investments. Opting for substandard platforms, especially those associated with unregulated brokers, carries a risk of financial loss and potential harm to your trading efforts. Choosing a broker that offers dependable platforms such as MetaTrader 4 or 5 becomes especially pronounced. The reputation of such platforms and their proven track record offer a layer of security. Keep that in mind.
Note: This fraudulent broker specifically targets individuals from Italy and Luxembourg.
Trading Environment at LikeWood Invest
The promotion of a “dynamic, secure, transparent environment” might initially appear alluring. Yet, a closer assessment of these claims reveals a level of suspicion that we shouldn’t ignore.
LikeWood Invest touts a variety of features, the absence of hidden commissions, and a suite of advanced trading tools. While these elements might seem good at first glance, it’s important to approach such claims with a critical mindset. The lack of regulatory oversight and the absence of a valid forex license raises concerns about the credibility of these assertions. As responsible traders, it’s essential to seek out verified information when evaluating a broker’s offerings.
Note: Avoid EmpowerFX since it operates as an unregulated broker and poses risks.
LikeWood Invest Account Types
According to the information on their website, LikeWood Invest offers clients 4 distinct types of investment accounts. Each one is tailored to cater to specific investor profiles and needs.
The first is the Silver account, designed for beginners with a relatively modest minimum deposit of 250€. This account provides access to a mixed range of products, including stocks, bonds, and ETFs, with exposure to various market segments. The Gold account, the second tier, is better suited for those with more extensive trading experience.
With a higher minimum deposit requirement of 500€, the Gold account opens the door to more advanced investment products. It includes options and futures. This type of account is tailored for those traders with a deeper understanding of the market.
Finally, the Platinum account is reserved for high-net-worth individuals who demand personalized support. With an entry barrier of 1000€, the Platinum account provides exclusive access to investment products and services. It’s important to note that the specific features associated with each account type may vary. So, this needs thorough research and comparison before making a decision. As a responsible investor, it’s vital to align your choice with your risk tolerance, trading expertise, and financial goals.
Forex trading can often present challenges and uncertainties. Having reliable customer support can make a significant difference in your overall experience.
LikeWood Invest offers support through multiple channels, including e-mail ([email protected]) and a dedicated form. Still, it’s important to exercise caution when dealing with unregulated brokers. Solid customer support is undoubtedly valuable. But it should not be the sole determining factor when evaluating a broker’s credibility.
Instead, choose brokers that are under the supervision of reputable authorities. The regulatory oversight ensures that your trading partner sticks to established standards. We must know this!
Earning & Withdrawal at LikeWood
LikeWood Invest has a range of convenient options for both depositing and withdrawing funds. The process of depositing is presented as straightforward. Log in to your account, select your preferred deposit method, and follow the on-screen instructions.
Similarly, when it comes to withdrawing your profits or funds, the procedure is described as being just as simple.
LikeWood Invest asserts that it tries to process all withdrawal requests within 24 hours so that you can access your funds promptly. While these assertions might sound promising, it’s crucial to remember that they are presented by a broker that lacks the validation of a legitimate license.
Choosing brokers with a transparent track record and established payment options like Paypal, Skrill, bank cards, and cryptocurrencies can offer a more secure experience.
Trader Reviews on Trustpilot
The landscape of trader reviews on Trustpilot presents a mixed picture for LikeWood Invest. The broker’s current average rating of 2.9 stars is concerning, as it indicates a notable amount of dissatisfaction among traders.
Trustpilot, a widely recognized platform for client reviews, offers insights into the experiences of actual traders. The presence of such mixed reviews raises questions about the quality of the services provided by LikeWood Invest.
Besides, Trustpilot has issued warnings about the prevalence of fake news and inauthentic reviews. This makes it even more challenging to verify the true reputation of this broker. In light of these factors, it’s wise for traders to exercise caution and opt for brokers with a higher average rating.
Scam Broker Tactics
As the world of trading expands, so do the tactics used by corrupt firms aiming to exploit traders. It’s imperative for traders to be vigilant and aware of the various scam broker tactics.
These tactics can manifest in a variety of ways, such as promises of guaranteed high returns, high-pressure sales tactics, overly aggressive marketing, and unverified reviews that paint a rosy picture of an otherwise dubious platform.
By being familiar with these tactics, traders can take the necessary precautions to avoid falling victim to such schemes. Instead of giving in to the allure of unrealistically high profits, it’s crucial to conduct thorough research.
Opting for reputable brokers provides a layer of protection against these tactics. This is because they adhere to strict standards and prioritize the well-being of their clients.
Note: MorganStern’s absence of regulation makes it a risky choice, so it’s best to avoid them.
Long Story Short – Likewood Invest
All in all, the investigation into LikeWood Invest paints an alarming picture. This is a broker that lacks the regulatory oversight and transparency required for a trustworthy trading partner. With the absence of a valid forex license and various red flags, cautious traders are well advised to approach LikeWood Invest with skepticism.
Responsible trading entails making informed decisions that align with your financial goals. Always remember that.
Is Likewood Invest Regulated?
No. This broker does not have FX regulations.
Does Likewood Invest Have a Mobile Trading App?
Apparently, this broker provides a mobile trading app.
How much is Likewood Invest’s Withdrawal Fee?
This broker did not disclose the withdrawal fees.