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LittInvest Review - is it scam or safe?

LittInvest Review - Is littinvest.com scam or good forex broker?

RATING: 1 / 4 REVIEWS
LittInvest is an offshore broker. Your money is not safe.

Trading Accounts

 

Account type Minimum deposit  Maximum leverage Spread
Mini $250 Undisclosed From 2.7 pips
Standard $500 Undisclosed From 2.7 pips
Gold $2,500 Undisclosed From 2.7 pips
Platinum $5,000 Undisclosed From 2.7 pips

 

LittInvest is a company offering a mix between forex trading and binary options. The company has multiple account types, although no information about the trading conditions is given. The benefits included with bigger deposits are things such as educational programs and personal phone calls (basically nothing special). 


LittInvest Advantages

 

Also offers binary options – We are not certain if this should be viewed as an advantage, but at least it’s a feature of this company. Recently, a lot of binary brokers have started offering products which are closer to spot trading. While this is a more complicated mechanism of accessing the markets, it gives traders more control over their investment.

 

LittInvest Disadvantages

 

 

Joke registration –  The list of negatives about LittInvest can include a lot of things, but their most unique feature is the fact they are registered in St Andrews, the birthplace of golf. This may not seem like a joke initially, but given the fact they are not overseen by the Financial Conduct Authority (FCA), we find this quite dubious. Registering your (unregulated) company a couple of miles next to the most famous golf course in the world seems so strange, we believe it to be a joke.

 

>>Want to learn more about the FCA?<< 

 

 

No information on trading conditions –  LittInvest does such a poor job of presenting their offering, we couldn’t find anything specific on their website. This will not fool any somewhat sophisticated investor. The account types, which we mentioned in the beginning do not reveal anything worthwhile. 

 

Wide spreads – After testing the platform provided by LittInvest , we saw the EUR/USD spread hovering around 2.7 pips (as is illustrated in the screenshot which we provide below).  

 

>>Want what spreads brokers are offering now?<<

 

This level is simply not acceptable in the current market environment. Even if you don’t want to view our spread comparison platform (the link above), we will mention that everything above 2 pips on the most popular currency pair is simply not acceptable.

 

Few payment methods –  Creating an account with LittInvest also led us to see their payment methods, which included  Credit Card options and Bitcoin. This is an odd choice as eWallets, such as PayPal are probably still more common than the biggest cryptocurrency out there.

 

Relatively bad trading platform –  The trading platform provided by LittInvest is one which we have seen by other hybrid brokers (offering both binary options and spot trading). While it looks nice, it severely lacks some counterparts, in terms of functionality. Here is a snapshot:

 

 

>>Brokers offering MT4<<

 

The current industry leading platform MetaTrader4 (MT4) is very preferable to this. There is basically not much room for comparison as the software provided by LittInvest, as MT4 offers much better charting, automated trading systems and a whole lot more.

 

Conclusion

 

LittInvest is an unregulated broker. We do not recommend trading with such companies, as they don’t provide any security for your funds. In other words, you are only relying on their honesty, to provide their service. To put it even more bluntly, you may not see the money you deposit with them ever again.

 

LittInvest claims to be registered in St Andrews, pretty close to the golf course. While we took that as a joke, let’s consider it seriously for a moment. In case they were based in Scotland, they would have to be under the regulatory zeal of the Financial Conduct Authority (FCA) of the United Kingdom, just like IG.

 

>>A list of FCA regulated brokers<<

 

This is one of the most reputable watchdogs, which imposes a lot of tough rules upon the brokers registered with it. While they are complicated, we will just briefly mention the two most important ones, form a security of funds perspective. Client accounts have to be kept in segregated accounts i.e. the company can’t access the funds in order to “borrow” them – this must be done following a specific procedure. On top of that the Financial Services Compensation Scheme (FSCS) is a mechanism to which all FCA regulated brokers must be part of. It acts like an insurance company, which protects clients in case the broker declares bankruptcy (coverage is limited to £50,000 per account).

 

With all of that in mind, an unregulated company which doesn’t provide information on its trading conditions is simply not worth your time (and money). Here is the recap:

 

Pros Cons
Also offers binary options Joke registration
  No information on trading conditions
  Wide spreads
  Few payment methods
  Relatively bad trading platform

 

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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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Summary

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Traders` reviews for LittInvest

littinvest are scammer

these people are scammers...they have just swindle me of $250 they try to persuade me to invest more in which i refuse.please people beware of littinvest site they are scammer.watch out for names as eric finanacial manager, andy financial manager,Mark white trade analyst,a lady sharon lobi financial manager.God wrath will be on them very soon.

mark 01/18/2018

Research

From my research, I came to realize that it's the same set of people operating littivest are the same people operating bitcoin code which is already confirm as a scam site, is ther any way we can report this people so that people won't be deceived this heartless souls

Ezekiel 01/13/2018

Unable to withdraw my own money

I deposited $500 which I shouldn't have. I am not at all educated in this area. I thought I would try. Big mistake. The financial adviser Mark Raskin was nice to begin with and when I was hesitant to invest more money after he kept trying very hard to convince me by the way. After saying no and asking for my money back I have yet to hear back from them. Yes I feel foolish as I should have done more research beforehand. $500 is a lot of money to me and I will most likely never see again. I continue to email them but to no avail. I just hope that others will listen to me and my experience. I really wish I could get my money back. Shame on them.

Jaime Maddern 01/09/2018

Relatively unknown Broker

I received a telephone call from a lady saying that she was calling from The Trading Commission. I thought this a bit odd. She said that she could put me in touch with a vey good Broker. I told her that I was not interested. Shortly after ending the call, I received a call from Patrick who said he was from Litt Invest and wanted me to sign up with them. After a long conversation, I told him that I was definitely not interested. He told me that he was on his way on a business trip and would telephone me again when he got back. A few days later he phoned again and said that he had just walked into the office. He wanted to know if I was ready to sign up with them. I explained again, that I was not interested, as I had investigated Litt Invest on the net and could only find their website, but no other info. I also said that they have only been operating for 7 months and that they were not regulated. He then insisted that they were licenced with the government and that maybe I did not understand the licencing. I explained that I fully understand the difference between a company registered entity and the regulating authorities. He eventually rang off. Yesterday I received another call from an employee of the company, who got quite upset because I refused to sign up and that I was insulting them because I did not appear to trust them. I again re-iterated that I was not signing up with an unregulated Broker. He said that he understands that I may have had a bad experience, but their service would be different. He eventually gave a a signal on Bitcoin which he said would soon be trading at $10,000. and I would see that they were genuine. Before ringing off, he said he would call me again. I told him not to bother, that he was wasting his time.

Vivienne 11/28/2017
Forex
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