Abbinvest review – 5 things you should know about abbinvest.com!

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Beware! Abbinvest is an offshore broker! Your investment may be at risk.

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Abbinvest is, unfortunately, simply another scam – there are hundreds of illegitimate brokers out there. This harsh verdict might seem unwarranted, but considering the broker has a warning issued against it, we cannot advise you to spend any of your time or money on it. Let’s take a closer look at Abbinvest:

Abbinvest regulation and safety of funds

Abbinvest is not only an unregulated broker – the Italian government has issued the following warning against the company:

It seems that Abbinvest has been offering its services to citizens of the EU country without the authorization from the Italian regulatory body – the CONSOB. This body, like all of its EU peers has strict requirements for brokers – they need to have over 730 000 euro to their name in liquid funds, they are held accountable by a demand for them to report on a daily basis on open and closed trades and much more. Trading with a broker licensed there is much better than sticking with one that is under no oversight – and if you wish to do so, here are some European brokers to pick from, to get you started.

Abbinvest trading software

Abbinvest is not quite certain just what kind of trading software it provides – it states to have a web-based trading platform available, as well as a desktop distribution of Metatrader 4. In reality, the broker offers a distribution of its sucessor – MT5. Here is what it looks like:

This platform has claimed the title of industry standard with its comprehensive interface and powerful automated trading features. The spreads on it are quite tight too – major FX pair like EURUSD have spreads of 0 pips, as you can see! However, the leverage that Abbinvest offers cannot be found out, not on the platform and not on the broker’s website – we do expect it to be higher than what regulated brokers are allowed to offer their clients – up to 1:50.

As for the web-based trading platform Abbinvest supposedly has, it is not available, as per the following error message it displays:

Abbinvest deposit and withdrawal methods and fees

The broker has set its deposit minimum at a level that is simply not acceptable – $500. Its competition, other legitimate brokers can open you an account for about $10.

Abbinvest accepts deposits via credit cards, Bitcoin and wire transfers. Out of these three methods only one has any chargeback options available – and that is cards. Considering that withdrawals with the broker are practically impossible, it is important that you know this information.

Here is a clause from Abbinvest’s Terms, which deals with bonuses:

As you can see, in order to withdraw $30 worth of bonus, you would need a turnover of over a million dollars. But what’s more, you cannot withdraw any of your money, not just the bonus, until that condition is met. There is one more shady thing about this clause – the broker mentioned in it, Platinumstrade is another known scammer – it seems that Abbinvest is just another iterration of its scheme.

How does the scam work?

The broker follows the pattern of a very simple scam – the scheme starts when a person follows an ad to a website much like Abbinvest’s own. The ad promises them incredibly lucrative investment opportunities and should they sigh up on the website, they are required to leave a phone number at the account creation screen. Never do that – scammers will hound you relentlessly on that phone and will demand you deposit with them – should you do that, more and more money will be coerced from you until you either realize you are being conned and stop pouring money with the scammers or try and get a withdrawal. At that point, the criminals will simply leave you high and dry.

What to do when scammed?

So, you’ve been scammed by Abbinvest or another broker like it – do not despair! You can limit future losses by taking the following steps:

First off, remove any desktop-sharing software from your PC that the scammers had you install – they will often use Team Viewer to snoop around your computer without your knowledge. Then, you need to issue yourself a new ID, credit cards, and any documents that the scammers had access to – doing so will prevent them from using your documents for illicit goals.

Once your privacy has been restored, it is time to look for a refund – that can be achieved best by contacting your bank and explaingin your situation to them – but do watch out for recovery agency scams. These are just what the name implies – fake recovery agencies that contact scam victims and promise to restore their losses at the price of an advance fee – but they cannot and are not seeking to do any such thing. The only thing these “agencies” are after is your deposits.

Finally, know that there is no shame in falling for a scam – do not hesitate to speak up about your experience! Spreading awareness of the scheme is the best way you can protect your loved ones from it.

Rich Snippet Data

Reviewer

TheForexReview

Review Date

2021-05-25

Reviewed Broker

Abbinvest

Broker Rating

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