Lack of Required Licensing
For any claims of being a licensed service provider to be credible, they must be verified by a reputable financial authority. Although the trading brand alleges to be based in Switzerland, it lacks registration with FINMA. Searches in their registry yield no results for this company.
Further investigation across various databases revealed a recent warning issued by the FCA against them. Absence of records in other major regulatory bodies’ databases further confirms the dubious nature of their activities, establishing the business as wholly unauthorized.
Complex Fraud Operation Details
This fraud primarily operates through phone calls, where agents masquerading as industry experts coax individuals into investing, subsequently embezzling these funds. While reclaiming this money is challenging, it’s feasible with professional assistance.
Initiated in 2023, the scam targets several regions, including the United Kingdom, Netherlands, Israel, and Bulgaria. Interestingly, our investigations uncovered that the same group manages a Facebook page, promoting investment in Cameroonian real estate, directing contacts to investcm.com for these dubious dealings.
Furthermore, the fraudsters exploit remote access tools like AnyDesk and ScreenLeap to gain control over victims’ data, facilitating further extortion.
Warning Signs in Trading Costs
Investing with trustworthy firms should lead to profits, not financial depletion. InvestCM’s trading conditions are alarmingly risky, deviating from standard regulatory guidelines, leading to rapid financial losses. The advertised leverage of 1:50 is just one example. However, the actual offerings on the platform remain unclear, as access was not possible during our review.
Key details about other trading parameters and costs are deliberately obscured, and neither legal documents nor terms of service disclose these essential aspects.
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