InvestoUniTrade – Are They Safe?

Website URL: https://fxinvesto.com

Founded: 2020

Regulations: Unlicensed

Languages: English

Deposit Methods: Debit Cards, Credit Cards, Skrill, Neteller, Bitcoin

Minimum Deposit: $5

Free Demo Account: Not Available

Number of Assets: N/A

Types of Assets: CFDs, Cryptocurrencies, Commodities, Forex

Trading Accounts and Conditions

Here is the list of account types offered by InvestoUniTrade:

• Micro Account: For this account, the minimum deposit amount is $5. The spread types are variable, and they begin at 3 pips. The maximum leverage offered is 1:500.
• Standard Account: For this account type, the minimum deposit amount is $50. The spread types are variable, and they begin at 2 pips. The leverage goes as high as 1:400.
• Premium Account: For this account type, the minimum deposit amount is $100. The spread types are also variable, and they begin at 1.6 pips. The leverage is as high as 1:300.
• ECN Pro Account: For this account type, the minimum deposit amount is $100. The spread types are variable, and they begin at 0 pips. The leverage is set at a maximum of 1:200.

InvestoUniTrade – Advantages

You will not find any advantages in trading with InvestoUniTrade. This broker is a scammer is a best avoided.

InvestoUniTrade – Disadvantages

Here are all the reasons why it would be a bad idea to trade with InvestoUniTrade:

• Unregulated Broker

In the footer of this broker’s website, there is a London, UK address provided. However, there is no company name or license number provided. This immediately raises suspicions, since a legitimate broker would ensure that it has provided all corporate and licensing details.

Furthermore, to operate from the UK, a broker would need to be registered with the FCA – the Financial Conduct Authority. The fact that this broker does not even have a license number is the first indication that this broker may not be registered with the FCA. And then, when we checked on the regulator’s online register, our fears were confirmed. This broker is definitely not registered with the FCA. This means that it is operating out of the UK (if it actually is operating from there) illegally.

Another issue we have is that in another part of its website, InvestoUniTrade claims to be based out of Belize. However, once again, this claim is not corroborated with the relevant data – an actual physical address and a legitimate license from the IFSC (International Financial Services Commission), the financial regulator of Belize.

All of this information proves to us that we are dealing with another scammer that is operating illegally and targeting unwary and novice traders to make an easy buck.

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• No Legal Documents

Another huge red flag that points to this broker’s fraudulence is the fact that InvestoUniTrade’s website had no legal documents. A legal document, called the Client Agreement / Terms and Conditions / Terms of Service, is critical since it defines the relationship between the broker and the client.

This document details the services the broker provides as well as the terms of those services. So, we get to know about the specific trading conditions, the policies for deposits, withdrawals, inactivity and so on. We also get to know what types of fees the broker charges and the amounts it charges, and so much more.

So, without a detailed legal document in place, if a trader contracts with this broker, they are basically signing away their rights and the broker can do what they like with the trader’s money.

• Issue of Trading Software

InvestoUniTrade claims to offer its clients the use of the MetaTrader 5 platform. If this were true, it would be a huge advantage. The MT5 platform is one of the best platforms in the world – it is easy to use, has a huge number of tools to help make trading smoother and more efficient, and it also has a massive marketplace featuring thousands of 3^rd-party apps that are all designed to help with trading.

The thing is, while this broker claims to have not just live MT5 accounts as well as demo accounts, we were unable to access any of them. We were not even able to create an account with this broker, and we could not even find a download link to the platform.

All of this leads us to believe that this broker doesn’t really have an MT5 platform and that this is just another lie that it has told to attract more customers.

Furthermore, the fact that we were unable to even register for an account tells us that the only way that you would be able to open an account with this broker would be if they got in touch with you. This is a typical tactic used by scammer; they pick and choose their clients (read: victims) and then get in touch with them before opening an account for them.

• High Spreads

Even if this broker had been legitimate, we would not have recommended it to any trader. The spreads for the basic account start at 3 pips, which are just not advantageous for a trader. The market average for spreads among brokers ranges from 0.5 pips to 1.5 pips. So, a spread of 3 pips is just too high – it makes the cost of trade prohibitively high.

• High Leverage

Even if we had not checked the licensing status of this broker, the amount of leverage InvestoUniTrade offers would be a dead giveaway of a scam. Leverage ratios are very strictly controlled in many parts of the world – especially in the UK, where the maximum leverage a broker can offer is 1:30. Therefore, a leverage of 1:500 is illegal, and proves that this broker is a scammer.

Besides the illegality of this kind of leverage, it is just too dangerous to play with such high leverage ratios.

Conclusion

InvestoUniTrade is a scammer that cannot be trusted on any level. It would be best to avoid this broker.

InvestoUniTrade

2.5

User Experience

2.5/10

Payment Options

2.0/10

Security

3.0/10

Support

3.0/10

Reputation

2.2/10

Pros

• None

Cons

• Unregulated Broker
• No Legal Documents
• Issue of Trading Software
• High Spreads
• High Leverage