Investing X Review – Fake Humbleness That Hides Deviancy
We’ll be so free to start this Investing X review with the broker’s own open admittance to not operating under any legal directive. Already disturbingly secretive and fully anonymous, this adds to the entire impression of this broker being fake and fraudulent.
The website tries to sound as friendly and honest as possible, but they can’t do much when they reveal no company info or the ways to communicate with support. The legal docs are too vague to drive any definite conclusion on this broker’s conduct.
But that aside, it’s pretty clear we’re dealing with an illicit business that tries to buy your acceptance and appreciation by faking honesty. And they do it at a ridiculous price of $10 000, how much they expect you to spend for a starting account type.
|Broker status:||Unregulated Broker|
|Regulated by:||Not regulated|
|Blacklisted as a Scam by:||N/A|
|Supported Platforms:||Webtrader/Mobile trader|
|Minimum Deposit:||€ 10,000|
|Cryptocurrencies:||Yes (Bitcoin, Ethereum, Litecoin, Ripple, Stellar, EOS, Bitcoin Cash)|
|Types of Assets:||Forex, Crypto, CFDs on Stocks and Indices|
|Free Demo Account:||N/A|
|Accepts US clients:||US clients are accepted|
Is Investing X Legit or Scam?
We’re sure the answer to the Investing X regulation is pretty much answered by the broker itself in a line we found among their legal docs. The sentence goes as follows: “we don’t have any regulation in place to satisfy your requirement of a regulated trading platform”. After that, the site tries to further reassure clients that there is nothing to worry about. They attempt to do so with these words: ”we can assure you that we are a legitimate and registered business”.
Not a single word about the name of the business, where they were registered and what their history as a company is. Since it is so, we did our own research through the registers of regulated brokers that reputable authorities keep.
Investing X was honest about the missing regulation part. They do not appear as a certified broker in any of the databases we searched, including FCA, ASIC, CySEC, BaFin, CONSOB and FINMA.
Under such circumstances, you cannot expect to participate in a safe trading environment. Firstly, your funds aren’t stored in segregated bank accounts. Secondly, trading under lower risk is ensured by the leverage limitation and negative balance protection. Furthermore even if you happen to get in a dispute with the broker, you can expect to be supported by the Financial Ombudsman.
Traders from EEA can enjoy additional protection thanks to ESMA and MiFID, which ensure increased transparency and enhanced protection protocols.
So just because Investing X reveals they’re unregulated doesn’t make them any better than other fraudsters. On the contrary. They’re just like other scam sites we’ve reviewed before, like Titangap, for example.
Traders Reviews About Investing X
Investing X is present on TrustPilot as a verified company. The address they’ve put on there belongs in the UK. But FCA isn’t familiar with this company as you can see on the FCA website for yourself. So they’re still in the unregulated and not trustworthy group of brokers.
However, they’ve verified their presence on TrustPilot, which has worried us. But the website owners there have put up a warning next to the Investing X logo. It alerts website visitors to be careful of high risk investments that this company advertises.
Furthermore, the number of positive reviews is concerning for an unregulated broker. Another source of these could be paid participants. There are a few negative opinions, though, and here is how they go:
[…] If you pay money to them, they will encourage further payments – With “numbers of a screen (only) investment returns”. Should you ever ask for your money back – then that is where you will discover you will never receive it back[…]
[…]All the people I talked to were arrogant, disrespectful, racist, rude etc.
I was sold on the idea that I just needed to put $250 to be able to see how my money would grow on an app. All was a lie.[…]
This is a scam. Your money isn’t yours in short. You invest and when you request a withdrawal they then try and extort money out of you at 14.3% before they will process the request. These fees and conditions won’t be disclosed to you at the beginning- if they were you would never sign up in the first place.[…]
What had us shocked was the tone of the replies that Investment X has left on these negative comments. They’re full of disrespect and threats directed at their dissatisfied customers!
Where Does the Broker Operate? – Countries of Service
Seeing the broker admit their own incompetence to have their business regulated should be enough to make anyone choose another and never invest here. However, that doesn’t seem to be the case with many retail traders. They come from different parts of the world and they buy the questionable Investing X services. English speaking investors seem to be most common among the customers. Here is where most of the users come from:
- United States
- United Kingdom
How Does the Investing X Scam work?
As the user reviews have implied, Investing X would promise their potential victims loads of wealth coming in a relatively short period of time. However, it all comes with a price. It may not seem like a big amount at first, but it accumulates over time. The scam agent will, of course, come up with just about any excuse to request more money. They will justify it by more lies and false promises about it coming back to you tenfold.
These scam agents are masters of detecting your desires and motives, so they know exactly what to offer you, even if you haven’t said it out loud. By skillfully manipulating you into investing, they will earn more and more off you, until you are left penniless.
What is Investing X’s range of instruments?
How attractive is it for a site viewer to see no leverage, spreads and commissions defined? Not much, you’d assume. But Investing X carefully dodges giving the exact data. Several tradable asset groups are mentioned, and here is how they go:
- Forex (EUR/USD, USD/GBP, USD/CHF, EUR/JPY)
- Crypto (ETH, BTC, BCH, ADA, DOGE, DOSH, XRP)
- CFDs on Stocks (Facebook, Tesla, Boeing, Amazon)
- CFDs on Indices (DOW JONES, NASDAQ, JP225)
- CFDs on Commodities (Gold, Silver, wheat, coffee)
Can I run a demo account?
Account opening as a process works differently on Investing X. You have to enter your personal data and contact info along with your request for opening an account. After you submit it, there’s a time that has to pass for the evaluation to be done.
Investing X doesn’t allow you to quickly open an account and enter the trading zone. They like to handpick their victims obviously. Nowhere does it say if you can choose a Demo account at all. So we wouldn’t expect it, as most of these unregulated lying schemes do not have it in their offer.
Is Withdrawing Profits Possible?
Over at Investing X, you can allegedly withdraw funds by using the same transfer channels you’ve used for depositing. Those are:
- Credit Cards
- Bank transfer
Although, that is only the data which the broker claims to be true. We had no way to verify it without access to the user panel. It wouldn’t be much of a surprise to see Investing X only allowing crypto payouts. It is, after all, the most commonly used payment channel among scammers, as it helps them preserve their precious anonymity. Investing Citi is a good showcase of how unsafe and almost irreversible crypto investments are.
Alongside those are the exaggerated fees and taxes coming with every withdrawal request as a payment for the processing steps. Plus, if you’ve accepted any bonuses, be prepared for the insane trading volume requirements no one alive could reach.
What Should I Do If I Have Been Scammed by Investing X?
Losing hard-earned money could happen in a matter of seconds. Restoring what was ruthlessly stolen from you is a process that takes time. It doesn’t mean it’s impossible, though. All you have to do is reach any of our support agents and describe your problem. Do not forget that this consultation is free. You will get advice on how to further act to quickly regain your capital. In return, all we ask is a bit of information you have on this, or any other fraudster.
Is Investing X Regulated?
Investing X is an unregulated broker, as they themselves say. The firm doesn’t own a trading license and operates without supervision of a reputable authority.
Can I Trade Crypto and CFDs With Investing X?
The broker advertises these trading instruments but we had no way to verify that statement because we couldn’t immediately make an account.
Does Investing X Have a Mobile Trading App?
It is unclear if the broker does have a proprietary trading app. They do speak of an easy-to-use mobile platform but we saw it nowhere on the site.
Does Investing X Have a Referral Program?
The referral program currently active at Investing X supposedly guarantees you 10% of the amount that your referral deposits.