Ivest505 has attached greedy conditions to its bonuses. You withdraw money until you’ve met the strict minimum trading volume requirements-25 times the sum of your bonus and initial deposit. Swindlers use such extortionate clauses to deny any withdrawal requests.
Did you know that about 70 percent of retail investors lose money in CFDs trading? These statistics do not include those who lose money to scammers, a staggering number, to be specific. While you can identify some scammers right away, others are more subtle. This brings us to Ivest505, a broker presenting itself as the world’s brokerage markets gateway. The broker further hides behind false regulations, promising top-notch funds’ protection. Ironically, the website urges us to be wary of financial cons while it is a scam.
You know the drill; fact-check everything a broker says, especially the address, trade terms, and credentials for regulation. Only by doing so will you be able to distinguish between fraudsters and trusted crypto companies.
In this review, we discuss a few subtly telling signals that led us to conclude that this broker is unreliable. To determine whether it is worthwhile to invest with this broker, please consider your preliminary investigation in addition to the points we raise.
Ivest505 states that Smart Solution Corp, registration number 114719, owns and operates it. The broker purports to be in the Marshall Islands and provides a telephone contact for interested traders to reach out. At a glance, Ivest505 would pass off as a successful broker rooted in the very ideals of online investment regulations. What with the 415000 traders and $28million monthly withdrawals? But you know better; these are pure marketing antics to hook you so that you can give business to the broker.
Ivest505 also lists some mouth-watering offers, including hundreds of tradable instruments, funds security, easy withdrawals, and ultra-tight spreads. The tradable instruments include cryptos, commodities, shares, forex, and indices. The broker’s web platform is allegedly feature-rich to guarantee competitive trading. Other tools include eBooks and on-demand training.
Deposit & Withdrawal
Deposits can be made to Ivest505 using credit/debit cards, wire transfers, and unidentified e-wallets. However, the only selection for deposits is cryptocurrency. Some trustworthy brokers accept Bitcoin alongside other clear payment options like bank transfers, debit/credit cards, and well-known e-wallets like Qiwi, Skrill, and Neteller.
Ivest505 has high withdrawal fees of 4.5% for wire transfers, 3.5% for credit cards, and 3.5% for e-wallets. Additionally, the minimum withdrawal value of 1,000 USD for wire transfers and 250 USD for e-wallets is prohibitively high. Since these payment channels are unavailable, it remains unclear what the withdrawal charges for cryptos are. The only specified parameter is a minimum deposit of 250 USD.
Invest505 Investment Plan
Ivest505 advertises eight investment plans. The regular account option has a deposit threshold of $250. Traders with this account can only access 200 trading instruments. Next, the bronze account has $10000 as its minimum deposit requirement. When a trader subscribes to this option, they get a 15 percent trading capital and fee discount. To open the silver account, a trader must part with at least $25000. The perks that come with this option include 25 percent trading capital and prioritized withdrawals.
For the gold account, traders must deposit at least $50000to their accounts. This account rewards traders with 35 percent trading capital and full access to market analytics.Next, the platinum account has a funding threshold of $10000. The account has no levies, has faster transactions, and gives 50 percent trading capital. Traders interested in the diamond account have to deposit at least $250000 in their accounts. As package benefits, traders get 65 percent of trading capital. Next, the VIP account has a minimum deposit requirement of $50000 and rewards traders with 80 percent trading capital and high leverage. We find it weird that the broker packages high leverage as a benefit. Lastly, the pro account has a funding threshold of $ 1 million. As a perk, pro traders get 100 percent trading capital.
There are at least two things wrong with the broker’s investment plan. The first one is that the minimum deposit requirements are prohibitive. How do you ask a retail investor to deposit $1 million as a minimum? The second one is that the broker manipulates you to take a more expensive account by restricting the cheaper one.
Ivest505 Trading Platform
Forex industry recommends the MT4 or MT5 trading software. The software has a state-of-the-art infrastructure with extensive functionalities. These include; technical indicators, graphical objects, multiple timeframes, hedging options, and pending orders.
The web trading platform provided by Ivest505 is quite simple. Although this platform may place orders, its features pale in comparison to those offered by MT 4 and MT5 platforms. Moreover, the platform does not allow fast executions due to heavy internet reliance. For investment purposes, you are better off with a reliable platform.
In no way does the inclusion of a trading platform make the broker any more legitimate, nor does it guarantee genuine trading. Scammers mainly use compromised software to deceive their victims they are investing money.
Legitimate forex brokers provide a range of trading account kinds suited to customers’ requirements with various capital and investment goals. The information these brokers provide on trading characteristics, such as leverage, spread, commissions, and order execution technique, is also straightforward and comprehensive.
Ivest505’s 0.2pips spreads are relatively low. Although such levels come with a specific commission per traded lot, Ivest505 doesn’t offer any details regarding trading commissions. Also, the broker charges a 1 percent commission for every executed trade. With the additional commission, trading with the broker may not be lucrative after all.
Likewise, the broker has a 1:400 leverage. While the leverage increases your prospects for higher earnings, the possibility of excessive and unexpected losses also rises proportionally. That is why most regulators cap the leverage at 1:30(FCA, ASIC, and CySEC) or 1:50(CFTC).
It is also worth noting that the broker offers bonuses, another illegal practice. Beware that regulated brokers do not offer bonuses, except those in the U.S. Regulators outlaw the practice due to the predatory conditions attached to them. True to regulators’ sentiments, Ivest505 has attached greedy conditions to its bonuses. You withdraw money until you’ve met the strict minimum trading volume requirements-25 times the sum of your bonus and initial deposit. Swindlers use such extortionate clauses to deny any withdrawal requests.
Invest505 Licensure & Regulation
The regulatory status of a financial services business is the most crucial information. Ivest505 asserts that Marshall Islands laws regulate it. Fact-check; there isn’t even a financial ombudsman in this offshore area. It is a favorite base for lawless brokers due to its lenient registration procedure, which permits corporations to be registered online. So, even with registration here, remember that it is unregulated.
Why Regulated Brokers?
We are emphasizing regulated brokers for a reason. One, your funds are safe since these brokers are accountable to oversight agencies. Two, your funds have zero balance protection, meaning you won’t lose more than your balance allows. Three, you are eligible for compensation if your broker is insolvent, and four, you can pursue legal actions and get redress if a dispute occurs.
To clear any doubts, Ivest505 is a scam. Despite efforts to look legit, the broker has violated several regulations with which it should be compliant if it were genuine. For instance, its leverage breaches the stipulated cappings and offers outlawed bonuses. Notably, the broker operates in a jurisdiction known to harbor dubious brokers.
In light of those violations, Ivest505 doesn’t qualify as a trusted crypto company. Go for brokers who have verifiable regulations. These brokers will protect your funds and give you reasonable returns.