EvincoInvest is a broker that claims to deal in various financial instruments, including cryptocurrency, forex, shares, metals, and indices. It presents itself as a reliable platform for trading and investments, offering different account types to accommodate various levels of capital. However, despite its polished appearance, EvincoInvest operates without the proper regulation, leaving clients vulnerable to scams and financial losses.
Unauthorised firm details
Name: EvincoInvest (evincoinvest.com)
Telephone: 02039745130, 020399386
Mobile: 07753817033
Email: support@evincoinvest.com,
tom.green@evincoininvest-mail.com
Website: https://evincoinvest.com/
EvincoInvest Account Types
EvincoInvest’s website, https://evincoinvest.com/, offers five distinct account types depending on how much money an investor is willing to deposit:
- Bronze: Aimed at beginners, this account requires a relatively low deposit and promises access to basic trading tools and resources.
- Silver: A mid-tier option, Silver offers enhanced features, with a higher minimum deposit requirement.
- Gold: Targeting more experienced traders, this account offers advanced features, including priority customer support and additional trading tools.
- Platinum: Reserved for seasoned investors, Platinum accounts come with even more advanced features, requiring a significant deposit.
- Diamond: Positioned as the ultimate account, the Diamond plan promises premium services, including personalized support, comprehensive trading tools, and access to exclusive investments.
The Red Flags of EvincoInvest
At first glance, EvincoInvest’s offerings may seem attractive, especially for new and inexperienced traders. The account plans are designed to appeal to different levels of investors, giving the impression that the platform caters to both beginners and professionals. However, these promises are just fake.
1. Unregistered Status
One of the most alarming aspects of EvincoInvest is its unregistered status. The FCA (Financial Conduct Authority) has flagged this broker, indicating that it does not comply with necessary regulatory standards. This lack of oversight means that investors are not protected, making it risky to engage with them.
2. Overly Attractive Investment Plans
While EvincoInvest promotes various account types, the promises of high returns often come with hidden risks. For example, the site may suggest that the Diamond account offers exceptional returns with minimal risk. Such claims should raise suspicion, as legitimate brokers do not guarantee profits and are transparent about the risks involved.
3. Limited Transparency
When visiting EvincoInvest’s website, you may notice a lack of detailed information regarding their trading practices, fees, withdrawal policies and address of their physical location. This omission is a significant warning sign. A trustworthy broker should provide clear and comprehensive information about how they operate and what to expect.
4. Pressure to Invest Quickly
Unregistered brokers like EvincoInvest often use high-pressure tactics to rush potential clients into making quick investments. If you feel pressured or coerced to commit, it’s a clear indication that something is wrong. Legitimate brokers allow you to take your time to make informed decisions.
While the website boasts about its diverse range of financial instruments and account types, a closer look reveals a disturbing lack of transparency and regulation. Additionally, despite its claims of providing access to multiple markets, it is unclear whether the platform genuinely offers these services or simply uses them as bait to attract unsuspecting clients.
EvincoInvest Flagged by the FCA
https://www.fca.org.uk/news/warnings/evincoinvest-evincoinvestcom
The Financial Conduct Authority (FCA), the UK’s financial regulatory body, has flagged EvincoInvest as an unregistered broker. Brokers registered with the FCA are required to comply with strict regulations to protect investors and ensure transparency. However, because EvincoInvest operates without registration or oversight, it does not adhere to these standards. This exposes investors to significant risks, including losing their entire capital with no legal recourse.
How EvincoInvest Lures Clients
EvincoInvest uses various tactics to lure unsuspecting clients into their trap. They rely heavily on the appearance of legitimacy by offering different account types and showcasing attractive returns on investment. Moreover, their website is polished and appears professional, further enticing investors to sign up. However, beneath the surface, it is a typical scam operation designed to exploit clients who are unaware of the importance of proper regulation.
Once a client deposits funds, they often find it difficult to withdraw their money. Customer support becomes unresponsive, and the platform starts offering vague excuses for why withdrawals are delayed. In some cases, investors are encouraged to deposit even more money to “unlock” their funds, only to be scammed again.
The Importance of Regulation
Investing with an unregulated broker like EvincoInvest is dangerous because there are no safeguards in place to protect your money. In contrast, brokers regulated by authorities like the FCA must adhere to strict rules, ensuring that client funds are kept in segregated accounts and are not misused. Regulated brokers are also required to provide regular audits and meet capital requirements, ensuring their financial stability.
By choosing an unregistered broker like EvincoInvest, investors are essentially handing over their money to a company that is not held accountable by any financial authority. As a result, if the company disappears or refuses to return client funds, there is little recourse available to the investor.
Conclusion: Avoid EvincoInvest at All Costs
EvincoInvest is a classic example of an unregistered broker preying on unsuspecting investors. With its slick website, deceptive account offerings, and false promises, it has managed to lure many clients, only to leave them stranded when they attempt to withdraw their funds.
If you’re investing, checr the broker if it is regulated by a reputable authority. Do your research, read reviews, and verify their credentials. Your money is too valuable to risk on an unregulated platform like EvincoInvest. Stay vigilant, and avoid falling into the trap set by fraudulent brokers.
Don’t get involved in any form of trading or crypto exchange on this platform, , they are greedy brokers and con artists. They took all my money under false pretenses.
made a deposit and its not showing up there is no response even after raising tickets and someone is trying to contact me and tell me please deposit more money so you will get your money back and that other person giving me some bank details to deposit money in their account stating they are thief’s also such a really poor customer service no email support no chat nothing just they want business but won’t resolve you queries.