Loco Invest Review: Your Money Is Not Safe Here

The forex space is full of money-making opportunities. Consequently, a lot of companies are coming out promising the best brokerage services. Unfortunately, most of these companies come to the market pretending to be professionals. However, they are far from that. In the real sense, they are scammers looking to steal investors’ funds.

It is hard to differentiate between scammers and honest companies. This is especially true for novice traders. You should always do enough research to ensure you are investing with legitimate companies. This is the best way to avoid losing your hard-earned money. 

Loco Invest is a company that tries very hard to put on a professional look. It is normal for scammers to paint a perfect picture of themselves. They do this to lure unsuspecting investors into their trap. Their only goal is to steal people’s money and then disappear. 

Luckily, there are many legitimate forex brokers in the market. Such companies have been there for a long time and operate with complete transparency. Additionally, they have the trust of thousands of seasoned traders.

Locoinvest.com Review

Loco Invest provides clients with the Loco Invest web-trader. They claim that this is their variation of the MT4 platform. The MT4 is one of the most popular trading platforms among traders for a reason. It allows for one-click transactions and instant execution.

Additionally, there’s a wide range of assets that you can trade under this platform. These assets include forex, bitcoin, precious metals, stocks, among others. This is very appealing as it allows traders to spread their risk of investment.

However, all these perks do not mean much when you are investing in a shady company. These are just marketing tools to attract eager investors. The only thing that these people care about is getting their hands on investors’ money. They do not care about customer satisfaction.

Nonetheless, these people promise to remain committed to serving both their loyal and new customers. They claim that smart people create their futures. Ironically, it would not be smart for anyone to invest in this company. Eventually, the law will catch up with this fraudulent operation and shut it down. You do not want to be a customer when that happens.

In terms of customer support, this company is not reliable. Loco Invest claims to have a young and reliable customer support team to help clients with their issues. However, this does not seem to be the case. First, there is no phone number provided, nor is there a live chat option. They only provide four emails for various departments. We all know that emails can go for days without a response. Customer support is an essential service in any company that handles people’s money. You should not have to beg for it.

Loco Invest Account Types

There are three main account types to choose from on Loco Invest. These include the Micro, Standard, and Big accounts. These accounts are different depending on the amount of money a client invests.

The first one is the Micro account. This accepts a minimum deposit of $250. It offers clients maximum leverage of 1:1000. Additionally, the spreads for this account are as low as 1 pip with an optional Islamic account. 

The second account is the Standard account. This accepts a minimum deposit of $5,000 and has spread as low as 1 pip. Additionally, this account offers clients leverage of 1:1001 and an optional Islamic account.

The third account is the Big account. As the name suggests, the minimum deposit account is a hefty $20,000. This account offers clients spreads from as low as 1 pip. Additionally, the leverage is between 1:1 to 1:1000.

Founders and Physical Location

Knowing the physical location and founders of a company is very fundamental. This gives you some insight into the kind of people you are dealing with. Working with mysterious people on the Internet is always a bad idea. 

Unsurprisingly, Loco Invest does not introduce us to its founders or team members. We have no idea who is running this company or what their trading history looks like. This is a major red flag. You should never invest in people with unidentifiable identities. Many scammers conceal their identities for a reason. They do this to ensure that the law does not track them down.

In terms of physical location, this company did not hide where they operate from. Loco Invest gives its address as Elscot House, Arcadia Avenue, London N3 2JU, UK. While this may be good, we have to ask ourselves whether they are in this location legally. We cover that in our next section.

Regulation and Fund Safety

Regulatory bodies are necessary as they ensure that companies are not running illegal operations. Additionally, regulatory bodies ensure that companies have the right banking set up to protect clients’ funds. They ensure that companies have segregated accounts in Tier-1 banks.

As earlier stated, Loco Invest gives their registration number to be VF 2354133,5698745632. The regulatory body in charge of forex regulations in the UK is the FCA. Luckily, the FCA allows you to query companies on their website. We searched this company on the FCA registry and found no results that match Loco Invest. 

This means that this company is an unregulated entity. That makes it an illegal operation. Even worse, these people know it, but they do not care. These people will do anything to convince you that they are a legal operation. 

No unregulated company can assure you of your funds’ safety. Moreover, there is no evidence of systems’ protection on the website. This means that hackers can easily access and steal your funds and personal data.

Domain Insight

The official domain for this company is Locoinvest.com. This company claims to have vast experience in the market. However, this is far from the truth. Whois records reveal the registration date of Loco Invest as August 2020. Evidently, this company has not been in the market for a long time.

Moreover, the registration of the website expires after one year. This is very common in scam operations. It shows that this company has no plans of sticking around for long. They take out one-year registrations and exit the market when it expires.

Furthermore, the website does not rank high on Alexa. The traffic is so low that Alexa does not track the website’s metrics. This shows that there are no seasoned traders that trust this company. You should run while you still can.

Final Verdict

This company is very unreliable and unprofessional. They lie about their regulation in the UK. We checked, and they have no regulations from the FCA.Do not invest with unregulated companies. This is a recipe for disaster. Loco Invest only sweet talks investors but does not deliver at all.

Moreover, the founders of this company are a mystery. This is a major characteristic of scammers. Do not invest with mysterious people on the internet unless you want to lose your hard-earned cash. This is yet another scam operation looking to steal people’s funds.

Thankfully, there are many legitimate forex brokers in the market. Such companies have a proven track record and operate with complete transparency. Moreover, they can assure you of your funds’ safety.

Tags: Loco Invest Scam Review, Locoinvest.com Review