General Invest Review: Avoid this Doomed Broker
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General Invest Review
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Regulation
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Fund Safety
Summary
General Invest is unregulated. On the website, we saw a certificate that purportedly shows the broker is a legal entity in Switzerland. The document is, however, fake and does not include the necessary legal details.
This shady broker is also known as General Invest, and it is plain to see that they are just typical scammers. They aim to deceive traders and flee with their hard-earned money. The purpose of this review is to expose them.
Instead of trading with such an unreliable company, invest with honest and transparent brokers. You must, however, establish whether the broker is legit or not. One way to do this is by reading reviews such as this. Also, check a broker’s experience in the market to further gauge their suitability.
About Investfing.org
On the platform, we did not find the name of the legal entity that owns and operates the broker. This was a major red flag. They purport that you can trade currencies, stocks, crypto, gold, and indices. However, given the broker’s questionable reputation, we could not trust their assertions. On whois.com, we uncovered that the firm recently registered its domain in February 2024. Thus, at the time of writing this review, they had been in business for less than six months. What’s more worrying is that the domain will expire in February 2025.
Founders and Team
This questionable broker hasn’t revealed anything concerning its founders or current executives. Openness in leadership fosters client trust. Understanding the company’s backers helps one to have faith in the organization’s credibility and dedication to moral business conduct.
A broker operating in secrecy is unlikely to gain clients’ trust. Knowing the history and background of the founders and leaders can help clients assess the reliability and level of experience of the broker. Customers want to be sure that the team is competent in handling their money and have a firm grasp of the foreign exchange market.
Contact Details
The contact information provided is unreliable. This is unethical and potentially illegal. One reason for this is to avoid regulatory scrutiny. By providing false contact information, the broker is evading inquiries from clients, regulators, or authorities regarding their operations or compliance with regulations. This can be particularly problematic in the forex industry because transparency and accountability are essential for maintaining trust and protecting clients’ interests.
General Invest Regulation
Working with a regulated forex broker is paramount for forex traders due to the inherent risks and complexities of the forex market. Regulation provides a vital layer of security and trust, ensuring brokers operate transparently and ethically.
Regulated brokers are held to strict standards set by regulatory bodies. This helps protect clients’ funds and interests. They’re, for instance, required to segregate client funds from their own and maintain sufficient capital to cover client trades and obligations.
General Invest is unregulated. On the website, we saw a certificate that purportedly shows the broker is a legal entity in Switzerland. The document is, however, fake and does not include the necessary legal details. We also noted that the certificate’s date is 1998, which contradicts the earlier information indicating that the broker registered its domain in 2024.
When we checked the Swiss Financial Market Supervisory Authority (FINMA) database, we didn’t find the name General Invest or Investfing.org. Russian authorities have also issued a stern warning to its citizens about working with this broker.
General Invest Trading Conditions
The spread for the major currencies is 0.9 pips, and the leverage is 1:100. There is nothing wrong with these conditions. However, given the deceptive nature of this broker, you should not trust them, irrespective of their conditions.
We noted that the broker only allows payment through cryptocurrencies. Such transactions are anonymous, and a customer cannot demand a refund since they’re irreversible. The minimum you can withdraw is $50, and they will charge a 5% service fee. If you have received a bonus, withdrawing becomes even more challenging.
Final Verdict
The evidence shows that General Invest is a scam. There is nothing admirable about them. The broker aims to enrich a few individuals through dishonest means.
If you want the best trading experience, ensure that you only trade with regulated, honest, and transparent forex brokers. This way, you can be sure your money will be safe.
