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All my emails and appeal to withdraw fell on deaf ears
I invested about $40k earlier this year, my portfolio appeared to be making profits until I wanted to withdraw and everything went down hill from there. I made payment from my lump wallet to their account wallets.
Investcore, an offshore broker based in Dominica, has garnered significant attention in the trading community, but not for the right reasons. A thorough analysis of recent reviews and expert opinions reveals a troubling picture of this broker, characterized by numerous complaints and warnings from regulatory bodies. The overall sentiment surrounding Investcore is overwhelmingly negative, with users reporting difficulties in withdrawing funds and a lack of transparency in operations. Key findings suggest that Investcore operates without proper regulation, making it a risky choice for traders.
Note: It is crucial to recognize that Investcore operates under various entities across different jurisdictions, which raises concerns about its legitimacy and accountability. This review aims to provide a fair and accurate assessment of Investcore based on the latest information available.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Withdrawal Process | 1 |
We rate brokers based on user reviews, expert analysis, and overall market reputation.
Founded in 2021, Investcore claims to offer a range of trading services, including Forex and CFDs. However, it is essential to note that it operates without any regulatory oversight, which is a significant red flag for potential investors. The broker utilizes a proprietary web-based trading platform but lacks the more widely accepted MetaTrader 4 or MetaTrader 5 platforms. Available trading instruments include Forex pairs, commodities, indices, shares, futures, and options, but the absence of cryptocurrency trading is notable.
Regulation and Geographical Presence:
Investcore operates from Dominica, a jurisdiction known for its lax regulatory environment. This lack of oversight has led to warnings from multiple financial authorities, including Spain's CNMV and Canada's OSC, which have flagged Investcore for fraudulent activities. According to Fund Evity, it is categorized as an offshore scam broker, which should raise alarms for any potential investors.
Deposit/Withdrawal Options:
Investcore accepts various funding methods, including bank cards and wire transfers, with a minimum deposit requirement of $250. However, numerous user reviews indicate that withdrawal processes are fraught with difficulties, with many clients reporting that they are unable to retrieve their funds. As highlighted on Sitejabber, users have experienced significant delays and outright denials when attempting to withdraw money, leading to an overall user rating of just 1.15 stars.
Bonuses and Promotions:
While Investcore offers bonuses to entice traders, these often come with stringent conditions that make it difficult for users to withdraw their earnings. Many users have reported that bonuses are a tactic to keep them from accessing their funds, a common practice among fraudulent brokers. This aligns with findings from Crypto Complaint, which suggests that such incentives are misleading and designed to trap clients.
Cost Structure:
Investcore's cost structure includes spreads and commissions, but many users have complained about hidden fees that significantly reduce their profits. The lack of transparency surrounding these costs is a recurring theme in user reviews, further damaging the broker's credibility.
Leverage and Trading Platforms:
Investcore offers leverage up to 1:200, which is significantly higher than what is permitted in regulated markets such as the EU. This high leverage can lead to substantial risks for traders, as it may encourage over-leveraging and subsequent losses. The absence of a demo account is another disadvantage, as potential clients are forced to commit real funds without testing the platform first.
Restricted Regions:
Investcore does not accept clients from several jurisdictions, including the United States, which may limit its user base. This restriction is typical for unregulated brokers that aim to avoid scrutiny from regulatory bodies.
Customer Service Languages:
Customer support is reportedly lacking, with many users expressing frustration over unresponsive service. This has contributed to a poor overall user experience, as highlighted in the negative reviews collected across various platforms.
To summarize, the Investcore review paints a concerning picture of a broker that operates in a highly questionable manner. The lack of regulation, numerous complaints regarding withdrawal issues, and the overall negative user experience indicate that potential traders should exercise extreme caution. As the trading landscape continues to evolve, it is crucial to prioritize working with regulated and reputable brokers to safeguard your investments.
Investcore's operational practices and user feedback suggest that this broker may not be a viable option for serious traders looking for a trustworthy platform. Always conduct thorough research and consider established alternatives before making any investment decisions.
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