Invest505 Review – Broker Offers Fake and Suspicious Policies

We’ve seen countless offshore con artists creeping up on unsuspecting traders so trust us, spotting one comes naturally. Hence, in the Invest505 Review, we provided evidence as to why this broker is risky and dangerous. From the legal status to the trading platform and conditions, it’s all shady. Let’s cut straight to the chase.

In addition to the above, we strongly advise you not to invest in GateBits, Vexxsel and DWS Invest fraudulent brokers.

Invest505 – Reliability And Regulation of The Broker

Who would’ve thought that a remote island in the middle of the Pacific Ocean could house such a fraudulent broker? Actually, it’s pretty common that scammers nest on these lonely islands with lax tax rules and systems. In fact, many of them come from the Marshall Islands.

This one, in particular, has lied about being operated by Propel Capital Ltd from the islands. We checked the database of the local regulators – the Global Financial Services Authority (GLOFSA) and found nothing. Therefore, Invest505 is actually anonymous and more importantly, unlicensed.

Why It Is Better Not to Choose An Unlicensed Broker

In general, offshore providers aren’t liable to offer you security in terms of trading conditions like regulated brokers. For example, you’re much better off trading with leverage restrictions to prevent big losses. Also, having your funds stored in segregated accounts is always much safer.

For these and more benefits, you should find a broker that’s licensed by the likes of the UK’s FCA, German BaFin, Australian ASIC, etc.

​​Is Invest505 a Legit Broker or a Scam?

Invest505 is a scamming offshore provider from the Marshall Islands. The broker offers Forex, CFD and crypto trading and mainly targets traders from the UK, the Netherlands, Germany, Cyprus and Australia.

Invest505 Software – Platform Tools

Invest505 offers WebTrader, a controversial browser-based platform with limited features. Nevertheless, this particular one seems to be suitable for beginners. It has nice charts and indicators, but that’s about it.

However, bear in mind that it’s quite possible that Invest505 is manipulating this platform. Its appearance is designed to distract you from the fake trading parameters popping up on your screen. It prompts you to keep investing but what you’re unaware of is that the fraudster is stealing all your funds.

Trade On-The-Go

Since Invest505 wasn’t really specific about this concept, we believe it’s a call for mobile trading. WebTrader, as the name suggests, is online, it’s not going anywhere. Thus, it can be accessed from virtually any device. But, mobile versions of platforms aren’t up to par with their desktop counterparts due to limitations and technical issues.

What Do Traders Think Of Invest505?

Invest505 seems to have a bed rep on Trustpilot. At the time of this writing, the shady broker had a total of 35 reviews with an average score of 2.7 (poor). The majority of recent comments were negative. We also noticed a few fake comments made by bots. Here’s what one unfortunate victim had to say:

I have been scammed by invest505. everything was going well until I decided to close my account. They made me pay a 30% tax fee and then I never heard from them again and are unable to withdraw my profit…

– Trustpilot Customer

Invest505 Range Investment Opportunities – Trading Instruments

When it comes to trading instruments, Invest505 put in the work to make a comprehensive list:

• Forex pairs – EUR/USD, GBP/JPY, AUD/NZD…
• Indices – US100, GER30, NIKKEI225…
• Commodities – gold, wheat, coffee, crude oil…
• Stocks – Tesla, Verizon, Lloyds Bank, Samsung…
• Crypto – BTC, ETH, LTC, XPR, USDT…

However, don’t fall for it! It’s meant to be appealing. Remember that the broker is unregulated and the trading platform is unreliable.

Where Does Invest505 Engage In Fraud? – Countries Of Service

Exposing Invest505 wouldn’t be complete without providing a list of countries where the fraudster looks for potential victims:

• The United Kingdom;
• The Netherlands;
• Germany;
• Australia;
• Cyprus.

As you can see, it targets heavily regulated states. A broker like Invest505 could never obtain a license issued by the FCA or CySEC because it doesn’t fulfill the necessary demands. Beware of this offshore hoax that’s been ongoing since May 2022.

Additionally, we strongly advise you to avoid the fraudulent brokers PrevailFX, VirtusCapital, and Pibexa.

What Are The Different Invest505 Account Types?

We found that Invest 505 offers as many as eight different account types:

• Regular – 250 $, competitive spreads;
• Bronze – 10,000 $, access to all assets, 15% bonus;
• Silver – 25,000 $, 25% bonus;
• Gold – 50,000 $, 35% bonus;
• Platinum – 100,000 $, no spreads;
• Diamond – 250,000 $, 65% bonus;
• VIP – 500,000 $, 80% bonus, highest leverage;
• Pro – 1,000,000 $, 100% bonus.

The pricing is insane, especially for a non-transparent and anonymous offshore broker. Plus, we have these pesky bonuses. Scammers oftentimes include them, always followed by the same or similar clause as this one.

If you read more carefully, you’ll notice that this could easily be used to prevent you from withdrawing. The mentioned trading volume is extremely high.

Offer Demo Or Trial Accounts?

Nope, no demo account here folks. No trial account either. We weren’t surprised. After all, this is a fraudulent broker that’s unregulated, thus it abides by its own rules.            

Leverage, Spreads, and Fees

All info on the trading conditions, i. e. leverage, spreads, and fees, had to be gathered on the trading platform since Invest505 was lazy to include it on the website. We looked at Forex major pairs as our benchmark.

The leverage cap is 1:400, which is sky-high compared to the legal limit of 1:30 (UK, EU, Australia) or 1:50 (US, Canada). Spreads are decent, 0.4 pips, but that shouldn’t be your concern at this point. Such high leverage annuls great spreads. 

As for the fees, it’s a complete mystery. We wouldn’t be surprised if they were low in order to incentivize clients to invest more so that the scammer can embezzle as much as possible.

What Is The Minimum Deposit and How Do I Withdraw?

The minimum deposit is 250 $. As for the acceptable payment methods, Invest505 mentioned the following:

• Credit/debit cards;
• Wire transfers;
• E-wallets (unspecified which ones).

However, in reality, the broker only accepts payments via cryptocurrencies. Typical of shady offshore scammers. They love crypto because they can remain anonymous. Plus, crypto payments are hard to reverse. 

Scammed by Invest505 Broker? – Allow Us to Hear Your Story

It’s unfortunate and we feel for you. This is truly an awful plot and we hope you’ll share your experience to help prevent the scheme from manifesting further. As for our part, we can help you get a refund. Contrary to what others tell you, crypto transactions can be traced!

How To Refund Crypto Payments?

• Crypto transactions are considered irreversible but that’s not true.
• While the scammer will remain anonymous, you can still trace the payment to a wallet within a crypto exchange.
• After you do that, requesting a refund is possible. Hope for the best!
• We can help you with the whole process.

Here you can book a free consultation and find out what to do for a start.