InvestEFT – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
InvestEFT - DO NOT TRADE WITH THIS PROVIDER
2.4/10
$100
Minimum Depositupdated 2023
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.
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: https://investeft.com
Founded: 2023
Regulations: Not Regulated
Languages: English
Deposit Methods: Unspecified
Minimum Deposit: $1,000
Free Demo Account: No
Number of Assets: 350+
Types of Assets: Forex, Cryptocurrencies, Stocks, Commodities
Trading Accounts and Conditions
InvestEFT offers their clients the following trading accounts:
- Bronze: The minimum deposit is $1,000. Spreads are basic.
- Silver: The minimum deposit is $10,000+. Spreads are basic.
- Gold: The minimum deposit is $25,000+. You are offered gold spreads and fee withdrawal fees.
- Platinum: The minimum deposit is $100,000+. You are offered platinum spreads and free withdrawal fees.
- VIP: The minimum deposit is $250,000+. You are offered VIP spreads and free withdrawal fees.
On the Account Types page, the broker does not mention any other trading conditions. We do know from another part of their website that the leverage ratio offered is 1:200, spreads start from 0.03 pips, and that they do not charge any commissions.
InvestEFT – Advantages
There are no advantages to trading with InvestEFT.
InvestEFT – Disadvantages
Given below are all the red flags that tell us that InvestEFT is a scammer:
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Unregulated Broker
The first sign that InvestEFT is not to be trusted is their lack of regulation.
Regulated brokers have to provide all information related to their legal status – their company name, location and address, contact numbers, emails, license and registration numbers and which authority are the regulated by.
With InvestEFT, all of that information is missing or skewed. On their Contact Us page, the broker provides us with a Switzerland address, and a telephone number with a South African country code. However, in the FAQs section, the broker’s registered address is in St. Vincent and the Grenadines.
All of this contradictory information tells us that things are not right with this broker. Just to be sure, we checked the online register of the Swiss authority, FINMA (Financial Market Supervisory Authority). We were right. There is no broker by this name listed with them. And neither is this broker registered with the South African FSCA (Financial Sector Conduct Authority).
From what we can make out, this broker is actually located in SVG (St. Vincent and the Grenadines), which means that they have no regulation in place. The SVG FSA (Financial Services Authority) has clearly and explicitly stated that they do not regulate binary options and forex brokers. Which means that this broker is not only not regulated, but that they have lied about their regulation status by implication.
This makes InvestEFT a scammer.
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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Issues with Trading Software
On their website, we see that InvestEFT claims to offer their clients the use of the MetaTrader 5 trading software. This would be huge win for the broker. The MT5 software is currently the top trading platform in the world. This software is simple to use, so much so that even novice traders will be able to use it with ease. Plus, there are a massive range of features for the more advanced traders.
We did find a download link for this software on InvestEFT’s website. However, when we downloaded the MT4 software using this link, we found out that the version we downloaded was not even licensed to this broker. This is just a demo version that is available on MetaQuest’s website – a generic one whose only purpose is to show possible buyers how the MT5 software works.
Thus, this broker does not have a real working trading platform at all!
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Issues with Registration
Another red flag that tells us that InvestEFT cannot be trusted is the fact that registering for an account with this broker is not easy. You need to have a promo code to be able to register for an account.
We need to point out that not being able to register for an account with a broker is a cause for concern. It is scammers that require you to enter promo codes to create an account. This means that they are targeting specific types of customers – usually novice traders who do not really know anything about the financial markets. They contact these customers via email, social media or phone and then offer them a special promo code, along with other benefits. Since these novice traders do not know any better and are lured by the promises made by the scammers, they go through the process and then unfortunately get scammed.
And this is what InvestEFT seems to be doing.
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Issues with Trading Conditions
Since this broker does not have a real working trading software, it seems useless to discuss their trading conditions. However, since they have advertised them, novice traders may get tempted to invest with InvestEFT based on those conditions. And that is why it is important to highlight all the issues in the broker’s trading conditions that reveal their scam.
First is their minimum deposit requirement. A $1,000 minimum deposit is much too high, especially when the market average ranges from $100 to $250. And when there are so many new – but legitimate – brokers who will allow you to open accounts with them for less than $10.
The leverage ratio offered is also too high. If this broker is targeting customers in the European Union (refer to their Swiss address), then the leverage ratio they offer is illegal. In the EU, the maximum allowed leverage ratio is 1:30.
Spreads are not mentioned on their Account Types page, but otherwise the broker says that their spreads are as low as 0.3 pips (and 0.1 pips in another section). With the no-commission claim they have, this kind of an extremely low spread would lead the broker into bankruptcy.
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Issues with Payments
There is no mention of the types of payment options this broker offers, and neither is there any clear withdrawal policy outlined. This shows us that we are dealing with a scammer.
Conclusion
InvestEFT is a scammer and if you trust them with your funds, you will lose your investment.
InvestEFT
Pros
- None
Cons
- Unregulated Broker
- Issues with Trading Software
- Issues with Trading Conditions
- Issues with Payments
- Issues with Registration
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
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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