Scam Brokers

Freedom Invesments – Can You Trust Them?

Chainbits Staff | Publish date: 01/20/2024 (Last updated: February 01, 2024 05:34 AM)

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Freedom Invesments - DO NOT TRADE WITH THIS PROVIDER

2.2/10

$100

Minimum Deposit

updated 2024

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The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.

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Website URL: https://freedominvestment.us

Founded: 2023

Regulations: Not Regulated

Languages: English, German

Deposit Methods: Credit Cards

Minimum Deposit: Unknown

Free Demo Account: Not Offered

Number of Assets: 5800+

Types of Assets: Forex, Crypto

Trading Accounts and Conditions

Freedom Investments does not mention anything about the types of trading accounts they offer. And since we were unable to register for an account with this broker, we can only assume that this broker has a single trading account type for all traders.

Freedom Investments broker claims to have consistently low target spreads of 0.8 pips on their main page. However, besides this one claim there is no other information about their trading conditions.

Freedom Investments – Advantages

There are no advantages to trading with Freedom Investments.

Freedom Investments – Disadvantages

Here are all the issues we have found that tell us clearly that we are dealing with a scammer in Freedom Investments:

Lies About Regulation

The first issue we have about this broker is that they lie about their regulation status.

Freedom Investments claims to be operated by FREEDOM INVESTMENTS INC. This company seems to be based in the US, but the broker does not exactly tell us so.

Freedom Investments provides us with three addresses – one in the US (which, as we said, seems to be the head office), another in the UK and the third one in Luxembourg. Each of these addresses have phone numbers too. On another page, the broker also claims to have an address in Germany.

This broker claims to be regulated by the LBR, the Luxembourg Finanzaufsichtsbehörde (LBR), the country’s financial regulator. These claims are lies. We checked the LBR’s register and found out that there was no broker by this identity registered with the regulator.

Added to this, to be able to operate out of the US, a broker needs to be regulated by two different authorities – the NFA (National Futures Association) and the CFTC (Commodity Futures Trading Commission). This broker is licensed by neither. Nor is Freedom Investment registered with the Financial Conduct Authority of the UK.

Basically, this broker has lied about everything related to their legal status and this makes this broker a scammer.

Plus500

$100

Minimum Deposit

Start Trading

Read Review

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.

AvaTrade

$100

Minimum Deposit

Start Trading

Read Review

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.

Blacklisted by BaFin

The BaFin, or the German Federal Financial Supervisory Authority, has also noticed that Freedom Investments is operating illegally. Therefore, this regulator has issued a public warning against the broker. According to that warning, Freedom Investments is operating in the BaFin’s jurisdiction without proper authorization. The authority also states that dealing with this broker is dangerous.

When a financial authority, especially one of the BaFin’s stature, warns traders against a particular broker, it is wise to heed that warning. There can be no greater proof that we are dealing with a scammer.

Issues with Registration and Platform

On their website, Freedom Investments claims that they offer their clients the Mobile xStation app for trading; this is supposedly their own home-grown trading platform. Nothing else is mentioned on their website, and there is no demo account where we can check out their trading platform for ourselves.

So, we decided to register for an account and check the real, live trading platform to see what this broker had to offer. Unfortunately, Freedom Investments has closed their registration. The only way to get access to this broker’s live platform and play area is if you have pre-registered. This means that you need to get in touch with the broker directly before you can register with them.

This tactic is common among scammers as it gives them the ability to pick and choose their target clients. They obviously chose those traders that are complete novices and do not know any better so that they are easily scammed.

So, we cannot register and we do not know what kind of a trading platform this broker has. These are clear signs that we are dealing with a scammer.

Issues with Trading Conditions

Another sign that you are dealing with a scammer is when that broker does not clearly detail their trading conditions on their website.

The trading conditions (in tandem with the trading platform) is the only service that any forex broker offers. So, it is imperative that they spell out their trading conditions clearly and precisely. If these conditions are missing, incomplete or there is any other issue with them, then you know that that is the broker that is not to be trusted.

With Freedom Investments, the only trading condition that they mention is their spreads, which they claim are as low as 0.8 pips. However, without the information on commissions and fees, we don’t really know the real cost of a trade with this broker.

We are not told about the leverage ratios, order execution methods, lot sizes, and so on.

This lack of information tells us that we are dealing with a scammer.

No Legal Documents

This broker does not present their legal documents anywhere on their website. And this means that this broker is a huge scammer. Those documents are the contract between the client and the broker. If they are missing, it means you are dealing with a brutal scammer.

Issues with Payments

There are multiple payment relation issues with this broker.

We do not know how we can withdraw (the only payment option mentioned is credit cards, but there is no way to confirm this information) our funds. We also have no idea on what this broker’s withdrawal conditions are: do we need to reach a trading turnover target, is there a minimum withdrawal limit, is there a maximum withdrawal limit, is there a fee, etc.

This lack of information is just another warning to keep away from this broker.

Conclusion

Freedom Investments is a scam and trusting them with your funds and your personal information would be a bad idea.