Invotrade – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Invotrade - DO NOT TRADE WITH THIS PROVIDER
2.6/10
$100
Minimum Depositupdated 2024
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://invotrade.com
Founded: 2024
Regulations: Unregulated
Languages: English, German
Deposit Methods: Unknown
Minimum Deposit: Unknown
Free Demo Account: N/A
Number of Assets: Unknown
Types of Assets: Currencies, Commodities, Stocks/ Shares, International Indices, Cryptos
Trading Accounts and Conditions
Invotrade offers their clients the following types of trading accounts:
- Basic: This account includes zero leverage, tight spreads and access to 300+ assets. 1 contract lot size is equal to 10.
- Bronze: This account includes 10 leverage, tight spreads and access to 800+ assets. 1 contract lot size is equal to 100.
- Silver: This account includes 50 leverage, tight spreads and access to 1,000+ assets. 1 contract lot size is equal to 1,000.
- Gold: This account includes 100 leverage, tight spreads and access to 1,300+ assets. 1 contract lot size is equal to 10,000.
- Platinum: This account includes 200 leverage, tight spreads and access to 1,500+ assets. 1 contract lot size is equal to 100,000.
The minimum deposit amount is not mentioned anywhere.
Invotrade – Advantages
There are no advantages to trading with Invotrade.
Invotrade – Disadvantages
Here is the list of issues that clearly show us that we are dealing with a scammer:
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Lack of Regulation
A legitimate financial services company will ensure that they are completely transparent about who they are by providing clear and concise information about their company, where they are located and what licenses they hold to operate legally.
None of the above are true of Invotrade. This broker does not tell us anything about their parent company – not on their website, or any other document. We are given two address – one in Luxembourg and the other in the UK. However, no phone numbers are provided. We only get their generic support email.
The broker does not tell us that they are regulated, but based on the addresses they provide on their website, Invotrade would need to be licensed by the Financial Conduct Authority of the UK and/or the Commission de Surveillance du Secteur Financier of Luxembroug.
We checked the online registers of both regulatory authorities. We found out that this broker is listed with neither. This means that Invotrade is operating without a proper license or authorization. And that makes this broker an illegal entity – 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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Blacklisted by Bank of Russia
While checking for Invotrade’s legal status, we found out that the broker has been blacklisted by the Bank of Russia, the Russian financial regulator. The reason given for the broker being blacklisted is that the broker shows signs of illegal professional securities market participant. This means that the broker has been revealed as a scammer.
When a broker has been blacklisted by a regulator, it is proof that that entity is a scammer and must therefore be avoided.
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No Legal Documents
Despite going through their entire website and their registration page, we could not find Invotrade’s legal documents.
The lack of legal documents is another indication that we are dealing with a scammer.
These documents are critical as they are the contract between the trader and the broker. Without these documents in place, the broker can easily take advantage of the trader, imposing any kind of condition they desire in a bid to extract as much money from the trader as possible. These practices are seen only among scammers.
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Issues with Trading Platform
Invotrade claims to offer their clients a top-of-the-line trading platform, one that is supposedly equipped with innovative tools and technical indicators – all designed to improve the trader’s accuracy and success in trading.
These claims, unfortunately, are all lies. This broker has no such trading platform. We checked.
What Invotrade actually offers is a simple, web-based trading platform that is most frequently used by scammers. This platform comes equipped with some basic features, but does not have any of the functionality that experienced traders need and have come to expect from a good trading platform.
A trading platform is the broker’s main product. So, when there is a lack of quality in this product, you know that you are dealing with a scammer.
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Issues with Trading Conditions
Another way to check if a broker can be trusted or is worth investing in is by assessing their trading conditions. Invotrade fails on this count too.
We are not told anything about their minimum deposit amounts. There is no leverage offered for the basic account, and yet their maximum leverage is 1:100. This leverage is not only too high, it is also illegal in both the jurisdictions Invotrade is targeting (the UK and Luxembourg). The EU (of which Luxembourg is a member nation) and the UK both of imposed strict limits on the amount of leverage brokers can offer their clients. This has been done to prevent excessive losses for traders and brokers.
The spreads seem enticingly low at 0.1 pips. However, the broker does not mention anything about commissions (spreads and commissions together tell us what the total cost of a trade is). So, without complete information, we do not know how expensive a trade with this broker will be.
All other trading conditions are also missing.
This lack of information clearly tells us that we are dealing with a scammer.
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Withdrawal Requirements Not Specified
Invotrade continues to withhold information by not specifying that they withdrawal requirements are. This broker does not tell us what the minimum or maximum withdrawal amounts are. We are not told if there is a withdrawal request processing time. We also do not know if there are conditions in place before traders are allowed to withdraw their funds and so on.
This lack of information on withdrawals is just another sign that Invotrade is a scammer.
Conclusion
Invotrade is not a broker to be trusted. This entity is a scammer. It would be best for traders to find another broker to deal with.
Invotrade
Pros
- None
Cons
- Lack of Regulation
- Blacklisted by Bank of Russia
- No Legal Documents
- Issues with Trading Platform
- Issues with Trading Conditions
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.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more