If there’s one thing we’ve learned from the past, it’s that a broker’s name can make or break a company. But there are times when the name of a company could mean either one of two things. Enter InvestGeo. The name of InvestGeo is very vague, which can make some users confused. The website makes things even less clear. This means that it is easy for people to think that it is a real broker, and at the beginning of this review, we also thought it was real for a second. This makes InvestGeo very risky, especially for people who are new to the foreign exchange market. For them, this review is very important.
The first thing about the InvestGeo that was really disappointing was when we tried to open an account. We were able to get into the user area. The problem was with how the account was made. This may be the most overused account-making tool ever, and we’ve seen that as many as 80% of brokers who aren’t regulated use it. So, this is a very clear sign that the company doesn’t have to follow any rules.
The user area opened the way they expected: there was a web trader around which all the other subscriptions on the dashboards were centered. This is another method that scammer brokers often use.
From the web trader, we know that clients can invest in forex currency pairs, commodities, ETFs, bonds, cryptocurrencies, and indices. The cost of trading EUR/USD was about 3.8 pips, which is a very bad deal for users but a great deal for the broker. At 1:200, it was the most it could go.
The company’s website can be viewed in both English and Russian.
INVESTGEO REGULATION AND SAFETY OF FUNDS
The company does something very bad. It says it is regulated by the FCA, even though it doesn’t even come close to meeting a single one of the FCA’s requirements. It even gives a fake certificate from the FCA. The broker has nothing to do with the FCA, of course. There is no license from it.
Besides this, there’s nothing else to talk about. InvestGeo doesn’t give out any regulatory information, and the legal documents aren’t very useful, either. They don’t give out any regulatory information, and they don’t give out much else of value, either.
The lack of a real license and the poor quality of the legal documents lead us to the only likely conclusion: InvestGeo is not regulated and any money invested in it is at risk.
Putting your money in InvestGeo who aren’t regulated is like throwing it out the window. They will rarely give you your money back, and even if they did, it would be a huge hassle and take a lot of time.
Because of this, we tell our users to only trade with InvestGeo who are regulated. Please, check for a license before doing anything else after you find a broker you think is worth investing in.
We recommend brokerage firms in the UK, EU, US, or Australia. All of these regulated InvestGeo are very reliable and offer a safe place to trade.
Also, agencies like the FCA and CySEC have user compensation funds that are only used if the InvestGeo can’t pay the user back because it went bankrupt. The FCA guarantees up to £85 000 per person, and CySEC guarantees up to €20 000 per person.
INVESTGEO.ORG TRADING SOFTWARE
This webs trader is one of the most common scammer InvestGeo, we run into almost every day.
The interesting thing about this web trader is that even though it isn’t as developed as other web-based trading software, it still has a good number of training options.
INVESTGEO DEPOSIT/WITHDRAWAL METHODS AND FEES
This will be fine as far as payments go in the user area. In the “deposited” section, there is no way to make a payment, and there is no real way to invest money. There is no way to choose a way to deposit money. As for the withdrawal area, we found that clients can take money out of a Bitcoin wallet using credit cards or bank transfers. So these should also be used to invest.
The legal documents didn’t help much because they were either only in Russian or were missing. The website says that there is no minimum deposit for a standard account. It says that users decide on a price and ask the InvestGeo to approve it. In other words, there is no minimum amount of money you have to put down.
Overall, InvestGeo has no oversight and is a scam. Don’t put money here.
How does the scam work?
One of the most common ways to lose money in a forex investment scam is through something that is so easy to understand. If you look at it in a positive way, a scam is made up of a few very simple steps that still require a lot of knowledge and authority to pull off.
In fact, investment scams work so well not because of how they are set up, but because the people behind them are very good at getting people to do what they want. They have a lot of psychological and social tricks up their sleeves.
In fact, the hardest part of any scam is meeting the person behind it in person. This usually happens over the phone, but it can also happen through email.
Online ads are the fastest and most useful tool they have. There are a lot of fake and misleading ads on the internet. They keep changing so that they look more and more like real businesses, but they are still scammers at heart. Everyone has seen at least a couple of these ads, which show a carefree life, expensive products that can be used on the go, beautiful women, and other things that are really expensive and hard to get.
Scammers who want to take your money are behind these ads. When you get to the website, you will be asked to give a phone number or email address so that the broker can get in touch with you.
The people running the scam will ask you to put money into it. He or she will try many different things to get you to invest. This is just an offer to buy something. Investing a small amount at first will help you build trust with the scammer, which could lead to more and bigger investments.
If the user keeps investing and trusts the broker, he or she will keep putting money in places where it will be hard to get it back.
And when it’s time to get your money back or at least take out a profit, the company’s true nature as a scam will become clear. The broker will either close all of your accounts, stop talking to you, shut down the whole website, or put all of your requests on hold. Sometimes, it will even give you back a portion of your deposit and profits to make you feel safe.
What to do if scammed?
Now, the fastest way to get your money back is to ask your credit or debit card company for a chargeback. But this only works for people who have actually lost money using a card. The chargeback time for MasterCard and VISA is 540 days.
Bank transfers are harder to get back. First of all, we always tell users to change their username and password for their bank account right away. The next step is to talk to the bank and try to solve the problem with them. The bank might have a special section for dealing with these kinds of problems.
Investing in a regulated broker with any kind of cryptocurrency is a surefire way to lose your whole deposit. Even in the modern world, crypto transactions can’t be tracked, which makes crypto deposits the most popular way for unregulated brokers to get money for investments. All of the money put into a crypto wallet is lost for sure.
And a warning to everyone who reads it! Do not trust the so-called “recovery agency” or “recovery agencies.” Their promises to return all of your money are just as false as the broker scam itself. They will take the money from the initial fee for the fake services and run away.
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