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PoloInvest Review - is it scam or safe?

PoloInvest - Is poloinvest.com scam or good forex broker?

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

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PoloInvest is a forex and CFD broker, offering good variety of currency pairs and some crypto CFDs. If you are about to open an account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Silver Account 10 000 1:100 2 pips, fixed
Gold Account 50 000 1:200 2 pips, fixed
Platinum Account 100 000 1:100 1,6, floating



PoloInvest  Advantages:

 

48 forex pairs and major crypto CFDs

 

PoloInvest offers its clients some 48 forex pairs, including exotic currencies like South African Rand, Turkish Lira, Singapore Dollar, Swedish Krona, Russian Rubla, Polish Zloty, Mexican Peso, Hong Kong Dollar, Israeli Shekel, Danish Krona and Chinese Yuan. 

 

The brokers also offers CFDs on spot metals like gold, palladium, platinum, silver, copper, nickel and aluminum, indices, stocks and commodities, including oil, natural gas, corn, wheat, rice, sugar, coffee, cotton, soybean and cocoa. On top of that they offer trade with a handful of crypto CFDs as well. On their trading platform we came across Bitcoin, Litecoin, Ethereum, Bitcoin Cash and Ethereun Classic. Still here you may check our list of brokers, offering the Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Maximum Leverage of up to 1:200

 

The maximum leverage allowed with PoloInvest is 1:200, which in our view can easily accommodate even the most aggressive trading strategy. Keep in mind that while higher leverage gives you the opportunity to score good profit with relatively small deposit, it also comes with an exponentially higher risk of loosing your funds much faster. Professional traders know that well and rarely trade with leverage exceeding 1:100.

 

Various payment methods

 

You can deposit and withdraw funds with PoloInvest via all major credit or debit cards like VISA, MasterCard and America Express, e-wallets such as Neteller, OKPay, PayPal, QIWI, FasaPay, PayU, Skrill, Ukash, Web Money and Union Pay,  Western Union and wire transfer. Still, as payments with crypto coins are getting more and more popular, here you may check our list of brokers accepting Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

Support in several languages

 

PoloInvest web site is supported in English, Spanish and Russian, as they are obviously focused on the Russian market as well.

 

MetaTrader4 supported

 

PoloInvest offers its clients a web based version of the MetaTrader4 - is a classic well known platform, used by more than 80% of traders around the globe.

 

 

MT4 has an intuitive interface, great charting tools and more than 50-in-build market indicators, which along with the specially designed trading bots allow you to run automated trading sessions. Here you may check our list of brokers also offering the MetarTrader4:

 

>>Find other MT4 brokers here<<

 

PoloInvest  Disadvantages:

 

No regulation

 

Hong Kong has a well respected financial regulator – the Hong Kong Securities and Futures Commission (SFC), which is responsible for licensing and supervision of all financial intermediaries operating in the city state. In addition all SFC regulated brokers should maintain a minimum liquidity capital of at least 5 million Hong Kong dollars or 640 000 USD, as well as to keep adequate accounting and control systems. 

 

Similarly well respected financial authorities in Europe like the the British Financial Conduct Authority (FCA) and the CySEC in Cyprus also have a minimum capital requirement in the amount of 730 000 EUR. 

 

CySEC and FCA and brokers also have to participate in client compensation schemes. Under the FCA backed Financial Services Compensation Scheme traders can receive back up to 50 000 GBP of their capital in case their broker goes insolvent, while under a similar insurance mechanism, traders with CySEC brokers can receive back up to 20 000 EUR. 

 

Unregulated broker on the other hand by definition have very little credibility and most often than not are involved in scam. Unfortunately, after checking the SFC registers we realized that PoloInvest does not have any license. 

 

Having in mind that regulation is crucial for the safety of any investment, here you may check our list of brokers licensed by the FCA:

 

>>FCA Regulated Forex Brokers<<

 

Excessive minimum deposit requirements

 

To open a Silver Account with PoloInvest you will have to invest at least 10 000 USD, for a Gold Account – 50 000 USD and for the premium Platinum Account you will have to cash in the stunning 100 000 USD. 

 

That in our view is excessive as with most brokers you can open a standard account with about a 100 USD, while with big well established players like XMFXTM and IG you can start trading with just 5 USD or even less.

 

Uncompetitive spreads

 

As tested with a Demo account the EURUSD spread was 1,6 pips and that seems a bit higher than what traders usually expect to see with a standard account. On top of that in the light of the excessive minimum deposit requirements, such spreads look even less attractive. Here you can check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Conclusion:

 

Apart form the mediocre trading conditions and excessive minimum deposit requirements PoloInvest remains an unregulated broker and that significantly undermines its credibility. As we have already discussed, traders can feel secure about their investments only with properly regulated brokers.

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Traders` reviews for PoloInvest

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