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InvestingPro Review - is it scam or safe?

InvestingPro Review - Is investingpro.com scam or good forex broker?

RATING: 1 / 0 REVIEWS
InvestingPro is not regulated. We cannot guarantee your money is safe.

Trading Accounts

 

Account type  Minimum deposit Maximum leverage Spread
Standard Unknown Unknown Fixed from 2 pips

 

InvestingPro is a forex broker, which is either very new or simply does a poor job at presenting its trading conditions. We will try to showcase their strong and weak sides, but generally there is a lack of information about this company.

 

InvestingPro Advantages

 

Two trading platforms – InvestingPro offers a choice of two trading platforms, although one would have to start opening an account in order to get to that point. The options are either the industry leading solution MetaTrader4 (MT4) or a web-based solution called Status. 

 

MT4 probably doesn’t need introduction. This is a top-rated platform, which provides very nice charting and a lot of custom technical indicators and automated trading systems. It also has very nice mobile and web versions.

 

>>Find a better MT4 broker here<<

 

Status is a more exotic option. While it looks visually amazing and may even be a better option for complete beginners, it lacks a lot of the aforementioned functionality. That being said a social trading and signal following modules are integrated. While being web-based Status feels very optimised for a touch screen device – most of the menus are oversized and there are two sliding columns on the outer portion, which can “slide in”. Here is a preview.

 

 

 

Multiple payment options – as far as the presentation goes, some payment options are listed on InvestingPro’s website. They include: Bank Transfers, Credit Cards, Soford, Upay cards, EntroPay, EasyEFT and China UnionPay.

 

InvestingPro Disadvantages

 

Not regulated –  InvestingPro claims to be operating out of Sofia, Bulgaria. The company is not listed with the local watchdog, nor claims to be. The “Regulatory environment” section on their website only states the benefits of the EU’s MIFID. That being mentioned, leads us to believe they may be in the process of registering with the Bulgarian authorities, but we can’t confirm this.

 

Lack of information – as we stated in the beginning, this company basically doesn’t mention anything regarding the actual trading conditions on their website. Nothing concerning the costs of trading, the available leverage nor the minimum deposit requirement is known. This is unacceptable in  the current day and age. If you browse through IG’s website for instance, you will be able to find out a lot of details about their offer. Then again, this is one of the industry-leading FCA regulated brokers.

 

Wide fixed spreads –  after registering an account with InvestingPro we managed to see what the spread is – a 2 pips fixed spread on EUR/USD. This is a wider level than the ones offered by most brokers. You can always compare these offers with our system.

 

>>Real-time spread comparison<<

 

In case you are set on trading with a fixed spread, easyMarkets has a special offer, where you will get a 1 pip fixed level on EUR/USD, if you deposit more than $250.

 

No demo accounts – we only managed to see the costs of trading after opening a real account with InvestingPro. This is yet another thing which is very different with decent brokers, like FXCM, FxPro, XM and so on – everybody can open a “paper money” account to see how trading would feel.

 

Conclusion

 

InvestingPro is supposedly a Bulgaria based, unregulated forex broker. Their website fails to provide adequate information on the actual trading offer. That being said, this project may simply be very new and the final version of their presentation may be in development. While this can be forgiven, the lack of regulation can’t.

 

Experienced traders will already know this, but we feel the need to briefly explain for the newcomers. Trading with an unregulated broker is very risky. You only have their word as a guarantee of the security of your funds. To put it even more directly – you may be scammed out of your hard earned money. This is why regulatory agencies are in place in most countries. That being the case, their strictness varies widely by jurisdiction.

 

We like to recommend the United Kingom’s Financial Conduct Authority (FCA).  This is one of the most reputable watchdogs which monitors a lot of brokers. Check the link below for a (very long) list.

 

>>UK FCA forex brokers<<

 

The FCA applies two major rules, which guarantee the security of your investment. First and foremost, all client funds are kept in special bank accounts which can’t be accessed by the broker. These are called segregated accounts.

 

Additionally companies have to be members of the Financial Services Compensation Scheme (FSCS). The easiest way to explain it is to compare it to an insurance company. All brokers have to contribute money to a collective fund, which later guarantees client funds, in case their partner becomes bankrupt. Coverage is capped to £50,000 per account.

 

Here is a recap of InvestingPro:

 

Pros Cons
Two trading platforms Not regulated
Multiple payment options Lack of information
  Wide fixed spreads
  No demo accounts

 

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Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Traders` reviews for InvestingPro

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