EU FX Invest – Are They Trustworthy?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
EU FX Invest - DO NOT TRADE WITH THIS PROVIDER
2.4/10
$100
Minimum Depositupdated 2020
EU FX Invest offers 3 different types of trading accounts – Standart (spelled exactly as found on their registration page), Premium and VIP. The broker has not given details about its account types, and we took this information off of their live account registration page.
According to their trading conditions, spreads are variable and the EURUSD pair’s spread starts at 2.5 pips. The maximum leverage offered by this broker is 1:400.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: www.eufxinvest.com
Founded: 2012
Regulations: Unregulated
Languages: English, German, Italian, Spanish
Deposit Methods: Credit and Debit Cards
Minimum Deposit: $150
Free Demo Account: Yes
Number of Assets: 450+
Types of Assets: Forex, Precious Metals, Commodities, Oil, Indices, Bitcoin, Equities
Trading Accounts and Conditions
EU FX Invest offers 3 different types of trading accounts – Standart (spelled exactly as found on their registration page), Premium and VIP. The broker has not given details about its account types, and we took this information off of their live account registration page.
According to their trading conditions, spreads are variable and the EURUSD pair’s spread starts at 2.5 pips. The maximum leverage offered by this broker is 1:400.
EU FX Invest – Advantages
There are no advantages to trading with this broker.
EU FX Invest – Disadvantages
Here are all the disadvantages of trading with EU FX Invest:
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Unregulated Broker
On its home page, EU FX Invest claims to be owned and operated by a company called Terratech Ltd., based in the Marshall Islands. Immediately below that is another company name mentioned – BIM LLC – which is registered in St. Vincent and the Grenadines.
However, when you visit their Brokerage Details page, the broker claims to be headquartered in London, UK, and provide a UK-based contact number. Then, when you visit the Terms and Conditions page, this broker states that it is incorporated in New Zealand. The broker goes on to claim that it is regulated by the Belgian financial authority, the FSMA (Financial Services and Markets Authority).
We checked the online registers of the UK’s FCA (Financial Conduct Authority’s), the Belgian FSMA and New Zealand’s Financial Markets Authority (FMA). This broker and the companies linked to it are not listed on any of them. And Marshall Islands and St. Vincent and the Grenadines do not have regulations for forex and CFD brokers in place.
Furthermore, we also found a clear announcement on their Risk Disclosure page that EU FX Invest is not regulated!
Essentially, this broker has lied about its regulatory status and is operating illegally.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Contradictory Information on Website
When we read through this broker’s website, we found simple glaring errors in spellings and grammar. Even its basic account is spelled Standart rather than Standard.
On its website, this broker offers 4 language options – English, German, Italian and Spanish. However, when you read EU FX Invest’s Brokerage Details page, there is a much wider range presented – English, Russian, French, Italian, Arabic, Japanese, Spanish, German, Swedish and Chinise (another spelling mistake!).
This broker also claims to offer a wide range of deposit options – Credit Cards, Wire Transfer, MoneyBookers, Neteller, PayPal, Debit CardsWire, WebMoney. However, when we checked their payment section, we found that this broker will only accept credit and debit card payments.
Again, when you check their registration page, there are only 3 types of trading accounts available. However, when we check their Brokerage Details page, EU FX Invest states that it offers 5 different types of trading accounts – Micro, Standard, Silver, Gold and VIP.
These are just a few of the inconsistencies we have listed. There are many more such contradictions scattered throughout EU FX Invest’s wesite.
The clearly shows that this broker has slapped together a website with no regard for quality or the truth.
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Unproven Web-Based Trading Software
It was very easy to log into their trading platform, and what we saw did not impress us at all. EU FX Invest offers its customers a very basic web-based trading software, one that we have frequently seen on other unregulated brokers’ websites.
Unlike the world’s best trading software, the MetaTrader 4 platform, there isn’t much you can do on this broker’s trading platform. You do not get any of the great features available on the MT4 platform (such as charting and market analysis options, automated trading bots, trading calendars, and so on). Instead, you get a basic platform that only allows you to carry out simple trades.
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Huge Fees on Algo Trading Service
This broker also offers an Algo Trading service, which we can assume refers to an algorithmic trading software (which means automatic trading). However, if you do decide to use this service, you will have to give away 25% of your profits to EU FX Invest! And you will not be allowed to withdraw your funds for the first 6 months of using this service. Such a huge fee is just unheard of in the forex trading market!
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Strange Terms and Conditions
Here are some of the strangest terms and conditions we have seen in any online forex brokerage:
- Customers are required to deposit additional margin settlement amounts when the broker asks you to do so. And this amount can only be deposited via Wire Transfer.
- You will be required to deposit collateral with this broker to cover losses or transaction costs sustained on your trading account.
- If you use the 100 Risk Free Trades option, you are first requirement to make a deposit of $3000.
- For the 300 Risk Free Trades option, you need to deposit $10,000!
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Unfair Bonus Terms
This broker states that if you avail of their bonuses, then you will be required to trade in at least 10 mini lots (10,000 units per lot) for every $10 bonus you have taken. If you do not meet these conditions, you will not be allowed to withdraw your funds.
If the bonus amount awarded to you is more than 25% of your initial deposit, then, when you submit a withdrawal request without meeting the above-mentioned conditions, then this broker will charge you a 25% withdrawal fee.
Conclusion
Everything about EU FX Invest is a lie and if you do go ahead and trade with them, the chances of you losing your funds to them and not to the market are extremely high. Please do not contract with this broker.
EU FX Invest
Pros
- None
Cons
- Unregulated Broker
- Contradictory Information on Website
- Unproven Web-Based Trading Software
- Huge Fees on Algo Trading Service
- Strange Terms and Conditions
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
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Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.