Beware! InvestiGrams.com is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
There is no doubt that upon first look InvestiGrams.com seems to be on top of its game. However, as it almost always happens, InvestiGrams.com hides a dark secret that we will uncover easily. However, more novice users might be confused, because the broker’s visuals are strong. However, we have always said that too heavy a reliance on broker aesthetics is the first mistake most novice investors do. Please read the following review as it gives an objective view of InvestiGrams.com.
Opening an account seemed like an easy way into a client portal area, but it remains something that we were unable to do. Upon completing the registration form, we were given an Invalid Registration message, stating that there was something wrong with what we have written and that our application has been rejected. Either the broker really does not accept us, or the firm finds us in no way as a potential investor and thus does not care for us.
Whatever the case might be, the failed registration means that we have to take all trading and payment details from the website. Accordingly, the tradeable assets are forex currency pairs, spot commodities, spot indices, spot energies, spot shares, and cryptocurrencies. Unfortunately, we found no indication of a spread, while the leverage is said to go as high as 1:400.
The website is available in English, Russian, French, Portuguese, German, and Azerbaijani.
INVESTIGRAMS.COM REGULATION AND SAFETY OF FUNDS
The broker’s operating address is located in Saint Vincent and the Grenadines, the one location that does not have an FX regulator. The country’s own authorities have said this dozens of times, yet that has not stopped thousands of unlicensed brokers to set up base there. InvestiGrams.com is one of these brokers that is not regulated in Saint Vincent and the Grenadines.
All other information that we find is vague and basically stems from the assertion that users must be careful where they use the services of InvestiGrams.com, for they might not be allowed by their relevant authority to trade. In this classic move, InvestiGrams.com shifts the responsibility of it being regulated to the users. The mark of an UNREGULATED broker, if there ever was one!
We always say that investing in unregulated brokers is a sure way to lose money. The first and foremost thing to do when picking a broker to invest in is to look for a license. Preferably look for FCA or CySEC regulated brokers, or other European watchdogs, or US ones. All legit regulators have long lists of rules and prerequisites that all brokers must abide by. Not doing so, will lead to penalties or foreclosure! Furthermore, many regulators have in-store financial compensation schemes for all users under licensed brokerages. For example, CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
INVESTIGRAMS.COM TRADING SOFTWARE
Without creating an account and accessing the user area, we had no way of verifying the presence of a trading software. The website gives away many links to the alleged web-based software, but none of them lead to anywhere; only to a log-in page.
However, we have a pretty good feeling that InvestiGrams.com has some kind of a trading software on point. Yet, we cannot be for sure!
INVESTIGRAMS.COM DEPOSIT/WITHDRAW METHODS AND FEES
We have no other choice but to take the payment information from the user area simply because we had no way to enter a user area.
As per the account page, the minimum deposit is $250, which is the amount required to open the most basic account type.
The terms and conditions mention credit cards, debit cards, and wire transfers as the available payment methods.
The minimum withdrawal amount is $50. The broker mentions that there might be charges associated with withdrawals, but the company never reveals what these commissions amount to. Withdrawal requests take up to 5 days to process.
The broker also reveals that there might be other fees related to the usage of the company’s service. For example, we find that InvestiGrams.com might charge a 4% annual interest rate. Additional fees might include, to quote, “rebates, commissions, profit shares, VATs, and other tax duties“. In other words, almost everything you do will be taxed, which is a reason why users should not invest in the broker.
There is no reason why users should invest in InvestiGrams.com! Keep away.
How does the scam work?
Online ads are the gateway to most investment scams. Ads that seem extravagant with quite impossible promises are most certainly the entry point into a scam. Gibing into one of these ads is the first step to being scammed.
The second step is to deposit. Once users click on the ad, they will be redirected to a scammer broker site or an intermediary website. What follows is a registration, where users will be asked to provide a phone number or a phone number.
Next, the scammer will directly contact those that have fallen for it. The first calls are made by the first level of fraudsters, the rookies. Their one and only goal is to compel users to deposit for the first time. Once a deposit is made, the user is hooked onto the scam.
The second wave of scammers, the core of the fraud, sometimes called “account managers”, will try to keep you invested in the shame for as long as possible. They might even pay some profits, just to keep you invested. The user will deposit an additional 2-3 times, which is actually the perfect scenario for these criminals. At some point, the user will realize he or she is in the middle of a scam
There are no more steps to the scam. The user has deposited as much as he or she did, and the fraudster have disappeared. The money is gone, and users cannot withdraw.
What to do if scammed?
If money was lost through a credit or debit card, the good news is that most credit card companies have an easy way of recovering money. Furthermore, MasterCard and VISA have a chargeback period of 540 days.
Wire transfer frauds, that is broker/investment scams, are harder to recuperate, but not impossible. The crucial thing to do is to change your bank account username and password! Aside from that, we advise users to contact their banks, because most banking institutions might have a plan on how to deal with money lost to investment scams!
Never invest in unregulated brokers through any sort of cryptocurrency wallet, no matter how good the returns sound! Crypto deposits are untraceable!
The last scam that users might stumble upon is in fact most of the time one that has nothing to do with the investment scam, although a potential relationship between the two is not excluded. We are talking about the so-called recovery agents or agencies. These will claim to be able to recover lost funds in return for a fee. After users pay this charge, they can kiss their money goodbye!
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