Investideaclub Review – Is Investideaclub a Scam?

Read our Investideaclub review to see if this broker is a scam or legit. Just to clear doubts, this is a review.

You have landed at this Investideaclub review, which means that you are probably shopping for an online broker. The financial markets are known for their endless opportunities for anyone interested and you need the services of a brokerage to access them.

While the internet has brought trading at your fingertips, you have to put in some effort in finding a broker because there are a ton of them, all promising you one thing or the other. It can be incredibly tempting to choose any company and get started.

After all, you do not want to miss any opportunity that could result in high profits and allow you to make the fortune you have been dreaming about. But, you need to resist this temptation because the wrong choice will mean that you are left empty-handed and have to start from scratch.

Why? This is simply because not all companies will be straightforward with you about their capabilities. Some might be exceptional brokers, some good and others may not be able to live up to your expectations.

However, the biggest risk is that you may end up opening an account with a shady or fraudulent broker that is only out to get your money. These are quite high in number, so you have to proceed with extreme caution to ensure you are not being lured into a trap.

It is not possible to do so if you are not verifying the claims of a broker before signing up with them. That would mean learning their true nature the hard way and you do not want to do that.

But, how will you figure out which category a brokerage belongs to? It depends on their shortcomings, as those of Investideaclub show that this is not a reliable broker at all.

This is a rather curious case because Investideaclub claims to offer its services to people all over the globe. Plus, it boasts about being licensed in two jurisdictions that have English as their main language. Yet, its website is a bad translation of Russian language. There are plenty of other shortcomings you will find and these include.

False regulation claims

Regulation of a brokerage is important because it adds a layer of security for the company as well as its clients. A license ensures that the broker can be held accountable and is compliant with laws and policies designed to protect both parties. Quality of services is also maintained and there is transparency as well.

But, claiming to be regulated and actually being regulated is quite different and Investideaclub falls in the former category.

In order to earn the trust of potential clients, Investideaclub claims that it has a license in the British Virgin Islands and in the United Kingdom.

A look at the Financial Services Commission (FSC), which is the regulatory authority of the British Virgin Islands, does not show the broker anywhere. You can search its online register and the brokerage, or its parent company are not listed.

As far as the UK regulation is concerned, it should be noted that it is not possible for Investideaclub to operate in the country at all because it is offering crypto CFDs.

These have been banned by the Financial Conduct Authority (FCA) that oversees the British financial markets. If the broker was operating from the UK and licensed by the FCA, it wouldn’t be able to offer them at all.

Since it is, this is proof that Investideaclub is not licensed by the FCA, but you can still check its online register to confirm and you will not find the broker or its parent company listed.

No professional trading platform

When you opt for a reliable and professional online broker, you obviously want them to provide you with appropriate services. This means that their trading platform should be up to the mark, as this is the primary feature they have to provide.

Your performance is also heavily dependent on the platform, so it makes a big difference. You will be disappointed with what you find at Investideaclub because they have a very basic and oversimplified web trader available.

If you were expecting Investideaclub to offer you a good and advanced trading platform like the MT5, you will be disappointed. Thus, you cannot expected the cutting-edge trading tools that come with this platform.

Subpar trading conditions

The trading conditions of a broker are very crucial because these determine just how profitable your journey is going to be. You want to opt for a competitive broker that can give you the best conditions, thereby allowing you to make the maximum returns from your investment.

A lot of people may be happy with the fact that Investideaclub offers leverage as high as 1:500, but this should not be the case.

First off, this is further proof that Investideaclub is lying about its UK regulation because the FCA has capped leverage ratios at 1:30 and this is way beyond the limit. Secondly, such leverage ratios can be dangerous for retail traders and can result in hefty losses they may not recover from. Are you willing to take that risk?

No refund

Another shortcoming that you will discover at Investideaclub is that it offers you just one payment method; bitcoin. Crypto payments are final and there is no way to reverse them unless the recipient decides to do so. You cannot file for a chargeback, as in the case of cards, and get your money back if you are scammed.

Moreover, crypto payments are also anonymous, so scam brokerages like Investideaclub can steal your money and just disappear without you being able to go after them.

High minimum deposit

The minimum deposit applicable at Investideaclub is a whopping $5,000, which is downright excessive. These days, micro accounts can be opened for as low as $10 and even if the average minimum deposit was applicable, it would not be more than $250.

Yet, Investideaclub is clearly asking for a lot more because it is aware that it will be exposed and people are unlikely to deposit again.

Final Thoughts

These shortcomings that you unearth about Investideaclub can help you conclude that this a fraudulent broker.

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