CityInv260 Review: Every Single Of Their Claims Is A Pure Lie!
CityInv260 is not just a typical scammer. They are deceptively convincing with just the right lies served in the right moment. The broker claims to be owned by a company of the same name and regulated in Ireland. However, their office is allegedly in France and there’s no proof of them ever being located there or indeed having a legit broker license.
We can’t fathom a single reason for anyone to invest here. The leverage is just extreme, which points at another regulatory breach. Trading conditions are as unrealistic as it gets and the costs are just as fairy tale-like as all the other shiny promises we found on the poorly designed web presentation.
How to precisely tell if one such brokerage is fake or not, and what conditions serve to lure you into an investment trap is what we discuss in the following CityInv260 review.
|Is This Company Safe?||CityInv260 is a dangerous unregulated brokerage. Stay away from this one!|
|Have Warnings from:||N/A|
|Registered in:||Ireland (Allegedly)|
|Operating since:||March 2023|
|Trading Platforms:||Web Trader|
|Deposit Bonus:||Up to 100%|
|Trading Assets:||Forex, Cryptocurrencies, Indices, Commodities|
|Free Demo Account:||N/A|
|How to Withdraw from This Company?||Warning! CityInv260 is an unlicensed entity! Withdrawing from this broker may require assistance from a legal professional!|
CityInv260 Regulatory Issues
CityInv260 states to be an Irish brokerage brand of internationally recognized quality and owned by CityInv260 Ltd. As the footer of the CityInv260 website mentions, the company is of Irish origin, and allegedly regulated by the Central Bank or Ireland – the financial regulator in the country.
Seeing this claim immediately drove us to check the register of licensed financial services providers. Easily accessible search engine on the site of the regulator showed no results related to CityInv260 in any way. So, we continued with the search.
Because the address of the office given on the broker’s website is in France, we also checked with their state regulator – AMF. This is one of the leading EEA regulators that doesn’t leave anything to the case. AMF enforces strict licensing rules: segregated bank accounts for keeping the funds separately, leverage restriction to 1:30, negative balance protection, compensation funds and restrictions on bonuses.
Where Does CityInv260 Find Its Victims?
CityInv260 tries hard to seem like a reputable EEA brokerage. However, lying about a license doesn’t make them a trustworthy broker dealer. That doesn’t stop them from trying their luck wherever they can. Novice traders are especially valuable, and CityInv260 scam agents will turn every single rock to find their next victim. The diversity of countries affected includes the following areas:
The most common way of spotting potential victims is through social networks. Scam agents approach anyone they see as a potential golden goose. Then comes the tireless convincing and persistent blabbering about exceptional trading conditions awaiting at their website.
If the victim seems even remotely interested, boiler room sellers become even more relentless in their quest to make them invest. In this concrete case, you could hear about huge bonuses to deposits that go up to 100% of the invested amount. All trading is claimed to be easy and effortless because investors will even be assigned a personal account manager that can trade instead of them and multiply their wealth!
Every single offer CityInv260 makes is attractive and almost irresistible, despite the introduced risks. The agents have a way of getting into your head and telling you the exact things you want to hear, just to make you deposit more and more!
Smells Like Fake Reviews
There just aren’t enough reviews on CityInv260 to judge accurately what traders think of them. At the time of writing this review, we could only find about 40 of them on TrustPilot and the majority rated CityInv260 positive. We still decided to mention them here, because they’re a good example of what we refer to as bought reviews.
You see, desperate wannabe brokers seeking their victims can come up with just about any method to fake-boost their credibility. Paying random users to leave positive ratings is one of the ways of achieving that. Nothing can provide you with the correct info about a broker like jurisdictional regulators do, so better refer to them or websites posting brutally honest reviews like ours.
What Will It Cost You To Trade At CityInv260
While we wouldn’t recommend even attempting to trade on the CityInv260 website, we have to discuss what their general conditions are. Account types have a price scale, and it seems that the pricier accounts bring higher leverage and tighter spreads.
The maximum leverage you can unlock goes all the way up to 1:500, which could easily drive you into unimaginable loss. CityInv260 doesn’t advertise it as such, but instead describes it as a benefit and a chance to win ridiculously high amounts of profit.
Starting spreads are at 1.5 pips. The more you pay, you should be able to unlock cheaper trading costs that start as low as 0.0 pips. With no commissions, as CityInv260 promises, we find such claims to be jokingly unrealistic.
CityInv260 isn’t explicit about the way of obtaining bonuses and how to withdraw them, if that’s possible at all. The webpage that explains the types of accounts and bonuses that come with these deposits only mentions the percentage of reward that goes up to 100%. There’s no Bonus Policy that is required if such a service exists. However, that isn’t even the worst part.
Our biggest concern is that CityInv260 offers bonuses in regions where these options are strictly forbidden by the jurisdictional financial authorities. Because of swindlers using bonuses and various types of rewards to manipulate clients and entrap their investments, UK and EEA regulators have banned these features. Yet, CityInv260 still provides them. That breaches the enforced regulatory rules severely!
General Characteristics Of The Trading Environment
CityInv260 didn’t try too hard to sound original with the names of their available packages. However, they’re quite demanding when it comes to the minimum investment amounts required to buy each higher tiered account.
We won’t even go into depth how utterly pointless it is to invest tens of thousands of dollars with an unregulated brokerage service. This is even more true when the trading platform is useless and so severely lacking in trading features and tools that advanced trading softwares use.
CityInv260 Has Some Shady Trading Accounts
CityInv260 sports the same pattern of Account Types we’ve seen with many other bogus brokers. The FuturBTC fraud has the same layout of different Accounts as well.
These accounts are not separated by different technologies, market strategies, or pricing. Instead this scam broker advertises larger trading benefits for more expensive account types. All of these alleged perks, like huge bonuses, are there just to make the pricier accounts seem more attractive to the potential victim.
Let’s take a look at how much these CityInv260 Account Types cost:
- Standard – $250
- Silver – $2 500
- Gold – $10 000
- VIP – $50 000
When you compare these costs with what a regulated broker offers, you’ll see just how insane these prices are. With a legit company, you can expect a Mini or Micro account for $10 worth of deposits or less.
You Won’t Find A Demo Account On CityInv260
When you create a CityInv260 Login, the first thing that will greet you is the Deposits page. This broker doesn’t even mention a Demo Account for their trading platform, and urges you to cough up the cash immediately.
Without such an essential tool, you can’t test the trading environment beforehand. The scammers have made sure every speculation is for real money. As you will see later in our CityInv260 Review, this will inevitably make you lose money with every bid.
The CityInv260 Trading Platform Does Not Instill Confidence
The platform that CityInv260 offers is another one of the Web Traders. This is very similar to how many other frauds operate, like Kowela for instance. The swindlers use the Web Trader because it allows them to directly influence the outcome of their clients’ trades. They will manipulate the market information, and make you lose money with every asset you buy or sell.
The swindlers have made sure you’d deposit first, and ask questions later. The Account Creation portal will direct you to the Account Manager, through which you cannot access the Trading Platform. This is not a big issue, since you can always use the Preview Platform, or Trading Room links on the website instead.
Legitimate brokerages nearly always offer the industry standard cTrader, MT4 or MT5 programs instead. These applications are rock solid, and tamper resistant for the client’s security.
CityInv260 Has No Real Mobile App
CityInv260 does not support any discrete trading application for mobile devices. You may still access their Web Trader through any Web Browser on your phone or tablet. The swindlers don’t do this because it’s practical, but because they know clients are more likely to trade on the go. If you can access the Web Trader through a mobile, you can lose money all day long, no matter where you are.
CityInv260 Trading Instruments Selection
CityInv260 does not openly discuss which Trading Instruments they allow for trading. It’s very important to know which Tradable Assets are available with a broker, and at what market prices, before you invest.
We have circumvented this lack of transparency by accessing the Web Trader. What we found was a common selection of asset types, but some of these were just placeholders, like Stocks for instance. Other categories only have a single asset available to trade.
Suddenly, we understood why CityInv260 chose to hide this information from their clients – the selection was as empty and shallow as the rest of the promises with this bogus broker.
This is the selection of Trading Instruments we found on the Cityinv260 Web Trader:
- Forex (EUR/USD, AUD/CAD, EUR/GBP, CHF/USD)
- Cryptocurrencies (Bitcoin, Dash, Ethereum, Ripple)
- Indices (China A50 F)
- Commodities (Brent Oil)
Customer Support Won’t Resolve Your Issues
Allegedly, you can contact the Customer Service on CityInv260 through many different channels. There is a phone number, an email, a contact form. But the only way we could get in touch with Customer Support is through the Live Chat. We have mentioned the issues we had with Stocks trading, but the agent avoided giving me a straight answer.
Then they began asking some very personal questions, and trying to make us deposit money to their platform. No doubt, these are the very same Boiler Room Agents who attract the people to the CityInv260 Scam in the first place!
Means Of Withdrawal On CityInv260
The client may elect to withdraw their funds from the CityInv260 through the Account Management portal on the website. Allegedly, this broker allows Bank Card and Bank Wire withdrawals. One thing we need to address is that there is no Terms and Conditions document that outlines how the Deposits and Withdrawals are handled.
We know that the CityInv260 Scam offers various bonuses to their customers. Many frauds abuse the bonus policy to require insane trading volumes before they will allow a payout. These can be 30 times the awarded bonus, and it effectively blocks the victim from even requesting a withdrawal. Of course, the swindlers often just do a runner and disappear with the money.
If this happens, your best choice is to seek professional help from a third party. You may contact your bank, or the financial regulator in your region. Our legal professionals are on hand to help you with a chargeback as well. We’d like to hear from you, and you may contact us via the Live Chat on our website to book a free consultation at any time.
Final Words On The Insufferable Scam
This one will almost have you with just the right amount of lies and cautiously placed claims. But only almost. We’re here to clear any doubts you may have when it comes to CityInv260.
Firstly, the website lacks the transparency characteristic for any reputable and heavily regulated brokerage. And while they have gone to some extent to provide seemingly believable legal info, they do not appear who they claim to be. The company is fully anonymous, registered nowhere and their trading conditions are only beneficial to their own pocket!
There’s thousands of better options for brokers for you, depending what your trading preferences are. But if you do require help resolving a dispute with CityInv260, you are free to contact us. We’re here and equipped with the right legal tools and knowledge to help out resolving any financial troubles you may be experiencing with this faux broker.
Is CityInv260 a Safe Broker?
No, this broker is not considered safe because they lack a valid trading license and are not offering the adequate funds protection
Can I Trade Cryptocurrencies With CityInv260?
CityInv260 claims to have these instruments available, but considering the faulty web trader and unregulated broker providing it, it’s not really possible to achieve any kind of profit.
How Can I Get My Money Back From CityInv260?
Since it can easily happen that the sham won’t allow you to perform a withdrawal, you’ll need to seek professional help with payouts. Contact us for more info on that and book your free appointment today!