Updated on March 5, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding InvestMib due to the issues we've identified.
Is InvestMib Scam or Legit Broker? ▲
InvestMib has been conclusively identified as a fraudulent entity. This broker is incorporated offshore and lacks any form of licensing from a credible and renowned financial regulator, rendering it an unsafe choice for trading. Our firm stance is against trading with offshore brokers due to the unreliability and potential dangers of the financial investment services they offer.
The rationale behind this advice is straightforward: a broker might showcase highly attractive trading conditions or environments, yet traders have no assurance from any official regulatory bodies within the Forex industry. Therefore, engaging in trading activities with such firms means that traders are solely relying on the broker's word, which inherently carries a high level of risk.
InvestMib claims to be a Forex and CFD broker, with ownership and operation under the name InvestMib Limited. The company suggests it is based in Belfast, UK. However, it lacks licensing from the UK's Financial Conduct Authority (FCA) or any other European regulatory body.
In contrast, it holds registration offshore in Vanuatu, as indicated in the terms and conditions on its website. The risk associated with a broker possessing a Vanuatu license is significant, considering it requires only USD 2,000 to obtain one. This is in stark contrast to an STP license from the UK’s Financial Conduct Authority, which demands EUR 125,000 in capital, excluding client deposits.
Our consistent advice to traders is to engage only with brokers regulated by reputable authorities. Those operating without a valid forex broker license are often fraudulent entities. Moreover, trading with a licensed broker ensures fund protection. For instance, the UK's regulator, the FCA, offers a Financial Services Compensation Scheme. It is advisable to check for FCA-licensed brokers for enhanced security and reliability in trading.
In summary, we emphatically recommend against opening a trading account with brokers that are not regulated by globally respected authorities adhering to the necessary set of rules and possessing a commendable reputation through their operational history. Traders are encouraged to opt for well-regulated brokers such as those in the UK or Australia.
InvestMib Update:
Further research indicates that InvestMib is currently inactive, with the broker’s website being inaccessible. Additionally, there is no available evidence to confirm whether the broker remains operational. It is advised to steer clear of any offshore-based brokers due to their inherent instability and the lack of stringent regulations.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
InvestMib Review 2024
