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PoloInvest Review – is it scam or safe?

PoloInvest Review  – Is www.poloinvest.com scam or safe forex broker?
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 Trading accounts and conditions

 

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Silver $10 000 0.01 lots 1:100 From 1.6 pips
Gold $50 000 0.01 lots 1:100 From 1.6 pips
Platinum $100 000 0.01 lots 1:100 From 1.6 pips

 

PoloInvest offers trading in forex pairs and CFDs on shares, metals, commodities and indices. There is also an unlimited free demo account, with virtual $20 000 for training purposes.



The Company. Security of Funds

 

Company Country Regulation
PoloInvest Limited Hong Kong No


PoloInvest Limited claims to be based in Hong Kong, but there has already been a warning from Hong Kong regulator Securities and Futures Commission (SFC) that it is actually not located at the given address. Considering that SFC is one of the reputable regulators, the warning should be taken seriously.


It appears that PoloInvest targets Russian- and Spanish-speaking clients and claims to be “an award winning forex and commodities broker, providing trading services and facilities to both retail and institutional clients”. But, as everyone is well aware, anyone can say anything they like on the internet and often the claims are hard to prove.


There are reputable Hong Kong brokers, properly regulated by SFC and dealing with them is less risky than with unregulated brokers with fake addresses.



Trading Platform


Like the vast majority of forex brokers, PoloInvest offers the ever popular MetaTrader 4 (MT4) platform, despite the plans of its developer MetaQuotes Software to slowly phase it out.


MT4 is the most used trading platform and is popular both among brokers and traders. It is stable and reliable, has many functions, offers API connectivity, supports PAMM and MAMM functionality and has a wide selection of technical analysis and charting tools. It is also user-friendly and supports Expert Advisors and automated trading.



Methods of payment


PoloInvest provide numerous payment options, in addition to the standard bank transfer and card payments. The broker accepts payments through Western Union, PayPal, Neteller, Skrill, FasaPay, UnionPay, YandexMoney, Qiwi, OKPay, PerfectMoney, WebMoney and several others.



Conclusion


PoloInvest is yet another dodgy unregulated forex broker, like so many others. Apparently it is relatively new, as there is just one official warning against it and we have not come across any complaints (yet). But, either way, we advise you to avoid dealing with the likes of it, as it is risky. Often such unregulated brokers are just a scam that want so part you with your money. Often they succeed.


If you are looking for a proper company with solid regulation that provides a decent level of protection, look for brokers regulated by UK's FCA or the Australian Securities and Investments Commission. The Cyprus Securities and Exchange Commission also provides a decent level of supervision and has significantly stepped it up recently.


Pros: Cons:
MT4 No regulation
Plenty of payment options Fake address
  High deposits


 

 

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Spread

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Traders` reviews for PoloInvest

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