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INVCenter Review - is it scam or safe?

INVCenter review - Is invcenter.com scam or good forex broker?

RATING: 1 / 2 REVIEWS ForexBrokerz INVCenter
INVCenter is an offshore broker. Your money is not safe.

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INVCenter is an offshore forex and CFD broker, offering a wide range of trading instruments – from currency pairs and crypto coins, to commodities, spot metals, stocks and indices with four account types, leverage as high as 1:200 and a web based trading platform.

 

Account type Min. deposit Max. leverage Spreads
Mini Account n/a 1:200 5 pips, fixed
Silver Account n/a 1:200 n/a
Gold Account n/a 1:200 n/a
Platinum Account n/a 1:200 n/a

 

Unfortunately the broker is not regulated, so if you are considering depositing any funds with them better read the following lines.

 

INVCenter Advantages:

 

Comprehensive selection of trading instruments

 

INVCenter offers well over 50 forex pairs, and lots on CFDs on commodities like natural gas, oil and corn, spot metals like silver and gold, various stocks and 10 major indices. And the broker also trades with crypto CFDs, but if you are really attracted by the idea of trading the crypto market, here you may also check our list of brokers, trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Leverage of up to 1:200

 

Leverage as high as 1:200 will surely fit even the most aggressive trading strategy, and yet you should always use higher leverage with extra caution. Bear in mind that leverage levels above 1:100 can quite easily erase your funds in a matter of minutes, if the market turns against you. And besides leverage levels were restricted on most regulated market including Europe and the U.S. precisely because of the higher risks.

 

INVCenter Disadvantages:

 

No license

 

Proper regulation is the single most important factor, that can guarantee the safety of your funds. Trading with unregulated, offshore brokers like INVCenter on the other hand is extremely risky as they are completely unaccountable for the way they handle your money – unlike licensed brokers, they do not have to report to any one, and being usually registered offshore, it is rather problematic if not impossible to bring any legal action against them in case you have been scammed.

 

INVCenter is owned and operated by Advanced Software Solutions Ltd., which is said to be registered offshore on St. Vincent and the Grenadines. And as we already noted they are not licensed or authorized to provide financial services on regulated markets like the European Union, including the UK for example, as they should be, if they want to target customers there.

 

In any case our best advise here is to trade only with brokers, authorized by well known institutions, such as the Financial Conduct Authority in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC). 

 

All properly licensed brokers have to file regular reports, to allow external audits, to maintain a certain minimum operational capital, sufficient to cover all outstanding payments towards clients, to provide traders with a negative balance protection, to keep all funds in a segregated, protected form creditors, trust account, and in some cases even to insure all client funds.

 

For example, with a FCA broker, regulated in the UK, your account will be protected for up to 85 000 GBP, even in the unlikely case the broker files for bankruptcy. Here you may check our list of brokers regulated by the FCA in the UK:

 

>>FCA Regulated Forex Brokers<< 

 

Trading bonuses with additional withdraw conditions

 

Although a trading bonus might sound attractive, you should be extra cautious, when a broker offers you a promotion like that. Trading bonuses always come with strings attached – some minimum trade volume requirement for example, which scammers usually use as a pretext to cancel your withdraw requests.

 

In fact trading bonuses are altogether banned on the European market.

 

 

MetaTrader4 not available

 

INVCenter is offering some unproven web based platform, which lacks some pretty standard features readily available with classic trading solutions like the MetaTrader4. Here you may take a look:

 

 

For example we do not see the option to run algorithmic trading sessions – something quite easily achievable with a MetaTrader4, where you can use more than 50 integrated market indicators and customizable trading robots. Also, MT4 comes with an excellent set of advanced charting tools so here you may check as well our list of brokers, supporting the platform:

 

>>MT4 Brokers<<

 

No information about the minimum deposit requirement

 

Just bear in mind that with most brokers you will be able to open a trading account with about 250 USD, while with some big and well known brands like FBS and IG you will be able to start trading with virtually 5 USD or even less.

 

Absurdly high spreads

 

When we checked the INVCenter trading platform the benchmark EURUSD spread appeared to be fixed at 5 pips – a level absurdly high, having in mind that spreads are usually considered acceptable, only if the start below 1,5 pip. So here you may check as well our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Skrill not available as payment method

 

INVCenter seems to accept payments with major credit and debit cards like VISA and MasterCard and bank wire transfers, but not some popular e-wallets like Skrill, and that is worth mentioning because of Skrill's new anti scam policy. According it Skrill offers it services only to brokers, holding a legit license, and as we already discussed, INVCenter does not have a license whatsoever. Besides, here you may check our list of brokers, accepting payments with Skrill:

 

>>Brokers accepting Skrill<<

 

Conclusion:

 

We can not recommend you INVCenter for one obvious reason – the broker is not regulated, which mans your funds will not be safe. On top of that the spreads that we saw on their, unproven web based platform were horrible. So our best advise here is to avoid unregulated brokers like INVCenter and to trade only with licensed companies like the once regulated by the FCA in the UK, CySEC in Cyprus and ASIC in Australia.

 

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Traders` reviews for INVCenter

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Platform

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Scammed

They never answer your questions, I have now sent them 2 emails, 1 last Friday 29th Nov and 1 last night 1st December. I have had NO REPLY.
In my view they are scammers.

John Braude 12/02/2019
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