InvestusFM Review: Scam Alert!
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
InvestusFM - DO NOT TRADE WITH THIS PROVIDER
2.1/10
$100
Minimum Depositupdated 2020
InvestusFM, where FM stands for Financial Markets, is a Forex brokerage that seems to be registered in Estonia. The broker is owned and operated by a company called PayPeq Holdings OU, but further details about this company are not available.
This brokerage provides its clients a web-based trading platform, along with an extremely generous leverage of 1:500.
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- Website URL: https://www.investus.fm/
- Founded: 2019
- Regulations: No
- Languages: English, Italian, Russian, Slovak and Arabic
- Deposit Methods: Payment Solutions, Visa, MasterCard
- Free Demo Account: No
- of Assets: N/A
- Types of Assets: Forex, Commodities, Indices, Cryptocurrencies, CFDs
Overview
InvestusFM, where FM stands for Financial Markets, is a Forex brokerage that seems to be registered in Estonia. The broker is owned and operated by a company called PayPeq Holdings OU, but further details about this company are not available.
This brokerage provides its clients a web-based trading platform, along with an extremely generous leverage of 1:500.
InvestusFM: Advantages
Range of Trading Instruments
The main advantage InvestusFM seems to offer is its range of trading instruments. According to the company’s website, it offers trading in Forex pairs, with a flexible leverage of between 1:20 to 1:400. However, this generous leverage also hides within it a high risk of losing more than what was initially deposited by the trader.
The broker also offers commodities trading in energies such as oil and natural gas, precious metals and agricultural commodities like coffee and corn. While the broker states that it offers trading in indices and names some of the top indices in the world, it doesn’t exactly list out the total number it offers its clients.
InvestusFM offers trading in cryptocurrencies such as Bitcoin, Ethereum and Ripple, and in CFDs in an array of assets.
There are no specifics as to how many of each category are available for trade.
InvestusFM: Disadvantages
There seem to be a huge number of negatives against this broker. Here are the key concerns with InvestusFM.
Regulation and Safety of Funds
According to InvestusFM’s website, its parent company is based in Estonia. Estonia is a member nation of the European Union. The country has included online Forex trading as a part of its regulatory guidelines.
Investigation into the Estonian online registry reveals that InvestusFM is not licensed by the Finantsinspektsioon, the financial regulatory body of the country.
In fact, the financial regulator of Italy, Commissione Nazionale per le Societa e la Borsa, or CONSOB, has issued a scam warning against InvestusFM. The warning states that InvestusFM is not allowed to provide financial services in Italy and is suspected of being a scam.
Estonia is a popular destination for online Forex brokers since the country has a reputation of having liberal policies with regard to cryptocurrency trading. This has led to many scammers flourishing in the country.
It is recommended that if a broker claims to be based from Estonia, it is best to check the Finantsinspektsioon online registry to confirm whether the company is regulated or not.
If a broker is not regulated, it is best to stay away from it, since trading on its platform will be a very risky proposition for you. You only will you stand to lose your money, but you will also not get any help from regulatory authorities in the event of a grievance.
This huge red flag alone is enough to warn us that traders planning to use this brokerage are leaving themselves open to substantial financial risk.
Demo Account
InvestusFM claims that it has a demo account, however, when you try to register for one, it shows that a technical error has occurred. Despite several attempts, we were not able to create a demo account to test the site’s spread and trading conditions.
Not being able to create a demo account is always viewed as a major disadvantage since you will not be able to assess the broker’s trading conditions and spreads for yourself.
What makes it worse is that there is no information on the broker’s website with regard to spread or minimum required deposits.
Deposits and Withdrawals
The broker offers a limited range of payment methods – Visa, MasterCard, wire transfer and Bitcoin. Upon checking the terms and conditions, there were some more issues that we found.
There is a 4% withdrawal fee that is being charged by InvestusFM, which is much higher than the industry average, and is a proviso that must be highlighted for traders planning to use this website.
According to users’ reviews, no one has been able to withdraw their funds successfully from InvestusFM. It seems that the broker is not allowing users to withdraw their funds, however, this has not been confirmed by official sources. Added to that, users are complaining that they have not been able to contact their managers at have this issue resolved.
Account Types
InvestusFM offers its users 4 different account types: Basic, Mid-Level, Advanced and Super. However, all the accounts have the same leverage, video tutorials and trading assistance features, with the higher-level accounts having just a couple of extra features.
The disturbing part is that while the chart on the website seems extremely detailed, closer inspection reveals that all features are couched in generalities.
Testimonials on the Site are Fake
Investigation reveals that the testimonials posted on InvestusFM’s website are fake. Pictures of the clients have been downloaded from the internet, and none of them have anything to do with the broker.
Trading Platforms
The broker seems to offer various trading platforms: The Multi-Interface Platform, the Web Trader and the Tablet Trader. However, when you actually read the details, there is not much difference between them.
There is no support for the MetaTrader 4 platform, which is the industry standard for trading.
Conclusion
InvestusFM seems to have all the hallmarks of a scam. The broker has been blacklisted by the Italian financial regulator. There is no evidence that the company has been registered or licensed to operated by Estonia, the country it claims to be based out of.
Details on the website are couched in generalities and there is actually very little information about the products that are on offer. All of this points to a classic scam.
We would strongly advise you to avoid this broker so that you do not lose your investment and can avoid being defrauded.
InvestusFM
Pros
- Minimum Deposit Requirements on Par with Industry Average
- Account can be opened in any one of 4 different currencies
- Supports MT5
- Wide Range of Trading Instruments
Cons
- Skrill not available as a payment option
- Not registered, licensed or regulated despite operating in the EU
- No Demo Account
- Strange Withdrawal Conditions that are not fair to traders
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