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Ens Invest Review
The user agreement and refund policy Ens invest has attached are vague. The policies do not address essential areas such as applicable fees and deposit insurance the broker supposedly offers. In its refund policy, Ens Invest states that it will deduct an unspecified amount of funds from an investor’s
Over $6 trillion is exchanged on the forex market daily, the world’s biggest financial market. The startling figures, combined with the leverage magic, increase the chance of making money on the forex market, albeit with many risks. Since forex is a goldmine, dishonest brokers try to entice gullible clients by promising them the chance to make a lot of money quickly. This description precisely fits the strategy Ens Invest is employing.
Although forex trading demands extensive knowledge, experience, and skill, anyone can trade. The downside of the unrestricted market is that amateur traders are drawn to the venture without fully acknowledging the inherent risks. Despite regulation efforts, unscrupulous brokers are still on the loose, swindling inexperienced investors.
Every day, these brokers are becoming subtler and causing devastating losses. The good news is that you can easily discern valid forex brokers from phony ones. In this review, we share hints indicating that this broker is illicit and a scammer.
Ens Invest claims its inception was in 2019, implying that it has been in the market for a reasonable duration. To analyze its web traffic, we looked at the Tranco ranking, and it was low. A low Tranco ranking indicates that not many people are visiting the website. This would make sense for a brand-new website. However, it raises an eyebrow when a broker who has been around for the last three years ranks so low. People probably doubt Ens Invest, and they are justified because why would you trust a broker who withholds their identity?
Also, the broker claims that investors on the platform can access over 200 instruments, multiple analytical instruments, and guaranteed obligation if slippage occurs. According to Ens Invest, investors on the platform enjoy benefits, including accessibility, reliability, and mobility. Although the broker boasts over 39400 clients, we are convinced that such statistics are only there to dupe you into thinking that the broker has a significant clientele base.
Customer service is an important consideration when choosing brokers. You should have access to immediate feedback when needed. When legit brokers provide their contact details, it is good for you as you can seek help anytime.
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Ens investment claims to be located in the U.K. but provides contradicting addresses and telephone contact. Investors can contact the broker at +357 22665643 or firstname.lastname@example.org. Although the contact details are available, we advise against reaching out to them; you will be allowing them to further sweet talk you into their evil scheme.
Ens Invest Deposit & Withdrawal Policy
Ens Invest accepts deposits via BTC and Tether. The problem with this option is that neither of these cryptocurrency payments is subject to chargebacks. To prevent their victims from being able to access their own money, scammers capitalize on the final nature of digital asset transactions. The anonymity in these transactions creates yet another leeway for forex offenders to rip off more investors.
There is no minimum deposit requirement for opening an account. However, the lack of such a requirement does not mean you should engage the broker. As a rule, there must be a confluence of all bare minimum standards, so you should not act based on only one bar.
Most legitimate brokers do not limit your deposit options, and rightfully so. You should confirm that the options available allow tracing and reversing transactions if necessary. As for this broker, it has limited your freedom and thus, the more reason you should avoid it.
Ens Invest Trading Conditions
The user agreement and refund policy Ens invest has attached are vague. The policies do not address essential areas such as applicable fees and deposit insurance the broker supposedly offers. In its refund policy, Ens Invest states that it will deduct an unspecified amount of funds from an investor’s account if they fail to meet the trading volume requirements.
This is a ploy to extort investors by forcing them to trade more, further predisposing them to risk. Other trading conditions available are mostly fragmented. For instance, the broker only avails of one package-Experienced plan, whose funding threshold is relatively high. As an investor, desist from brokers with such high trading volumes, especially if they have questionable dealings. The $1000 minimum deposit is too high to risk when there are credible brokers with cheaper accounts.
Trading conditions provide another clue as to whether a broker is regulated or not. The broker is offering leverage of 1:500, signaling that it is not under any oversight agency. All brokers under financial watchdogs’ oversight comply with the 1:30 or 1:50 capping. On the same note, the broker’s leverage exposes you to significant losses in volatile times. Also, a spread of 2 that the broker offers is not competitive. Since there are genuine brokers offering tighter spreads below 1, we suggest you consider them instead.
Ens Invest Regulation
First, the broker claims address hints that in Cyprus, under CySEC’s regulation. However, the broker’s credentials are missing from CySEC’s database. Strangely, the broker also claims that the F.C.A. regulates it, which does not make sense since the broker is not in the U.K.
The other claim that the broker is licensed by two more agencies in Mauritius and Belize does not hold ground. We found no matching details after checking with Financial Services Commission (F.S.C.) and International Financial Services (I.F.S.C.). Falsification of regulation is a severe offence that casts shade on the broker’s integrity.
In all likelihood, this company is operated from one of the seedy places in unregulated jurisdictions, such as the Marshall Islands, St.Vincent and the Grenadines, and the Cayman Islands. You cannot take legal action against brokers in these jurisdictions as they are not accountable to oversight bodies. Again, local laws in these countries have prosecution bottlenecks making it hard to sue the brokers internationally. You should not take chances with such brokers as they are dangerous.
The desktop version that Ens Invest provides for trading pales in comparison to the industry standard MT 5. Some shortcomings in this platform include limited access to technical analysis (T.A.T.A.) tools and unsupported trade automation. Mind you, even if the broker availed of a reliable trading platform, you should still not trust them. Unscrupulous brokers like Ens Invest have a reputation for platform manipulation through cloning. You will be under the impression that your money is being invested, which will not be the case. These brokers take your money the instant you deposit it and use it however they please.
As an investor, be wary of a broker falsifying even the most trivial details. Ens Invest is an excellent example of a broker whose primary goal is to defraud investors of their wealth. Why else would it withhold information that it should be freely sharing?
If you stake your investments here, there is no one to hold accountable in case of a loss. Since the broker is unregulated, you have no compensation guarantees if the broker goes bankrupt or swindles you. Therefore, the broker does not qualify as a valid forex broker. Go for platforms that are transparent in material details, including trading conditions. The relevant oversight agencies also regulate legit companies within their Jurisdiction. A broker with no proof of regulation or compliance should be enough warning sign that they are up to no good.