The FX broker INVCENTER is based offshore. The services and product portfolio of this broker contain CFDs on FX pairs, cryptocurrencies, commodities, shares, and indexes. It offers all the services and products on four variable trading account types. With this scam broker review, you will be well versed in the nature of INVCENTER.
This FX broker offers in a total of fifty FX currency pairs. The CFDs on commodities like natural gas, crude oil, corn, maze, silver, gold, various company shares, and primary ten indexes available in the trading markets. The leverage provided in each of the four trading accounts available is 1:200. The higher leverage is attractive but can bring go no go situation. Several international regulated trading markets have capped leverage at 1:100. This step is taken in favor of traders as high leverage has higher losing risk. These are the only positives of INVCENTER.
The most painful aspect of INVCENTER is its offshore unregulated nature. The owner of INVCENTER is Advanced Software Solutions Ltd based in Saint Vincent and the Grenadines. This means the company is associated with suspicion. As there are several scam brokers associated with SVG based firms. It also means that this broker is not licensed to provide trading in regulated markets like the UK, EU, Japan, Australia, and America. INVCENTER offers generous bonuses to its clients. Traders must note that such bonuses are also banned in international regulated markets. Although these bonuses are entangled to unacceptable and hard to achieve terms and conditions. The other negative aspect of this broker is the absence of MetaTrader. Instead, it offers to trade on some web-based trading platform.
The trading conditions of INVCENTER are completely missing from the website. The minimum deposit required to open an account is $250. While checking its web-based trading platform the spread appeared 5 pips on prime FX pair EUR/USD. The spread provided is very high and designed to manage profit only to the broker, not a trader. The average spread acceptable is around 1.5 pips on the same FX pair. Along with this, it provides all sorts of withdrawal and payment methods except Skrill. This mention is important as Skrill recently adopted a newly formed anti-scam policy. This raises eyebrows in suspicion.
Is INVCENTER scam or legit?
There are several disadvantages associated with INVCENTER. The major of them is its unlicensed and unregulated nature. The trading environment is designed in such a way that it will not generate any profit for traders. We would like to red flag INVCENTER as a potential scam broker. Kindly secure your funds by trading with real and genuine brokers.
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