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Spotinvest Review | Excellent Trading Conditions or a Scam?

by Kevin Berry
Rating: 
  1/5   Reviews: 3
Spotinvest - logo

Take your first step towards financial independence. That is how Spotinvest starts its acquaintance with clients. The broker promises excellent trading conditions and a convenient platform. However, it cannot be said that it is very popular. The proposals of unfamiliar companies should be treated with caution. Especially if traders leave bad reviews. Therefore, we will carefully check all the data about this project to make sure that it is not a scam.

Highlights

🏛️ Country St. Vincent and the Grenadines
⚠️ Regulation
🖥️ Website https://www.spotinvest.com/
🎲 Demo Account No
⏳ Start Time 2022
💲 Minimum Deposit €250
⚖️ Minimum and Maximum Leverage 1:10 — 1:50
⚙️ Trading Platform WebTrader
📨 Email support@spotinvest.com
📞 Phone
  • +1 306 805 9112
  • +44 7458 682596
  • +34 930 302 752

First Impression of Spotinvest.com

Despite the advertising banners, there is nothing special about the Spotinvest website. It is unlikely that a lot of money and funds were spent on its creation. It is created according to a typical pattern that almost every broker uses. Additionally, scammers usually like to do such cheap sites. At least, there is a description of accounts and trading conditions here. So you will be able to understand in advance whether this broker is suitable for you or not.

Spotinvest - website

Partnership and Bonuses

When opening an account, you can enter a promo code. It means that Spotinvest most likely has an affiliate program. Unfortunately, its conditions are not described in detail. However, we know for sure that the broker provides bonuses to the account. Depending on how much money you deposit, you will receive from 30 to 75% of the bonus.

Account Opening on Spotinvest.com

Registration on the Spotinvest site is very simple. You just need to fill out a form with several fields:

  • First name
  • Last name
  • Phone
  • Country
  • Email address
  • Promo code
  • Password.

Registration

Unfortunately, the broker does not care about your security. It does not check data when registering. Email or phone number does not require confirmation.

Spotinvest - Client Portal

The Personal Area is quite strange. The thumbnails of charts occupy the main space in it. Also here you can fund your account, change your account settings, withdraw money, and upload documents for verification.

Verification

Spotinvest requires you to provide proof of identity and proof of residence. To do this, you will need to upload standard documents to a special form. A passport or ID card, driver’s license, utility bill or bank statement will be suitable. There is also a place to upload some other documents. Spotinvest may require them at its sole discretion. It is not specified how long it will take to check the documents.

Pros
  • It is convenient to upload documents.
Cons
  • Additional documents may be required
  • How long the verification will take is not reported.

Trading Software

The company uses the platform from TradingView. It is presented only in the web version, which is not very convenient. However, this software is quite suitable for trading. Meanwhile, Spotinvest obviously takes quotes from another broker, Capital Com.

Platform

Features Spotinvest Probits  IC Markets
Demo Account ✔️
Mobile App ✔️
Own Development ✔️

How Can I Trade With Spotinvest?

The broker offers CFD trading. It has several asset groups, but you will not get access to all of them. Everything will depend on your minimum deposit. Let’s take a closer look.

All Info About Accounts

Spotinvest has 5 types of accounts. They differ in some trading conditions.

Account Minimum deposit Leverage Additional services
Basic €250 1:10 24/7 Customer Service

Expert Chart Analysis

7 days trial of managed account

Zero withdrawal fees

Silver €10,000 1:25 Personal Introduction session

Monthly Meetings With Analyst

Technical Assistance 24/7

Customized Introductory class

30-day free trial of expertly managed account

Guaranteed access to 5 financial markets

1 Monthly Withdrawal at zero cost

Up to 30% Bonus

Gold €25,000 1:25 Up to 50% Bonus

Membership of the expertly-managed account

Managed Account Leverage 1:5

Platinum €50,000 1:50 Up to 75% Bonus

Membership of the expertly-managed account

Managed Account Leverage 1:10

Platinum Market access for faster execution

VIP €250,000 1:50 Up to 75% Bonus

50% Default Trading Insurance

Access to the dealing department via WhatsApp

Membership of the expertly-managed account

Managed Account Leverage 1:25 Monthly Full-Protection Trade

1 Monthly Market Research (confirm with your Account Manager)

The larger your deposit, the more services Spotinvest offers. However, most of them raise many questions; for example, the help of analysts. The company refuses to be responsible for its forecasts in advance. Meanwhile, the qualifications of its employees have not been confirmed at all. Bonuses cannot be offered by a broker licensed in some countries. Also, important parameters, such as spreads, are not described here.

Pros
  • A lot of additional services.
Cons
  • Trading conditions are not described in detail.
  • Some services raise questions.
  • No demo account.
  • No swap-free account.

Market Analysis and Education With Spotinvest.com

Spotinvest has an educational center and a section with daily news. The educational center is even divided into three sections depending on the level of knowledge of traders. They contain videos that are intended to familiarize you with markets, assets, trading strategies, etc. This is good information for a start. However, its value for experienced traders is still questionable.

Deposit, Withdrawal, and Fees

There is only one option for deposit. You can use a wire transfer. In this case, details are not specified. Previously, you will need to contact the site administrator and ask to clarify the information.

Features Spotinvest Topinvesttrader  BTC-MARKETS
Debit/Credit Cards ✔️
Electronic Payments
Crypto Transfers ✔️
Deposit Fee
Withdrawal Fee ✔️ ✔️

How Can I Contact It?

Among the contact details, there are several phone numbers for different countries, as well as an email address. Unfortunately, the Spotinvest office address is not specified.

Pros
  • Multiple phone numbers.
Cons
  • Not all contact details.
  • Support does not work around the clock.

Is Spotinvest Dangerous?

Not all brokers who make loud statements are reliable. Unfortunately, this also applies to Spotinvest.

How Long Does The Broker Work?

The company does not write on the website how long it has been working. However, the first reviews about it really appeared only in 2022. Although the domain was registered more than 10 years ago, we cannot believe in such a long period of existence of the broker. That’s why we checked the web archive. According to the information on this portal, the domain was sold back in May 2022. Only in the autumn Spotinvest bought it and posted its content.

We archive check

How Is Spotinvest Regulated?

The Terms of Use indicate that the company Spotinvest is registered on the islands of Saint Vincent and the Grenadines. Even though this is offshore, the registry of this state is open. Therefore, we easily managed to check whether there is such a legal entity. Of course, it turned out that Spotinvest was not included in this register. That means that the company is not officially registered and does not exist. In this case, it cannot get a license. The project provides its services to traders illegally.

Legal entity check

Features Spotinvest Capital365  Vantage
European Zone ✔️
Asian Zone
American Zone
African Zone
Offshore ✔️

Frequently Asked Questions (FAQ)

How to Trade With Spotinvest?

To trade, you have to register, contact the manager, and fund your account.

Is Spotinvest Legit?

No, Spotinvest is lying about its registration in Saint Vincent and the Grenadines. Also, the company does not have a license for brokerage services.

How Risky Is It?

Spotinvest, which has been working for several weeks and is not regulated by the supervisory authorities, is very dangerous. You are likely to lose your money here very quickly.
Kevin Berry
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Expert Opinion

Don’t you think that the scammers are getting lazy? Over the years of observing investing in different companies, I have come to this conclusion. Previously, the fraudsters created legal entities in various offshore jurisdictions such as the Grenadines, Saint Lucia, or the Marshall Islands. Sometimes they even received local licenses. Then they began to massively steal registration data, using open registries of states, especially the UK. Now they don’t even waste time creating a firm, a website and marketing are enough. And that’s right! People still bring them money, so they don’t have to try to do their best. The total profit of the creators of this network is probably in the billions of dollars. All you have to do in such a situation is bypass anonymous sites like Spotinvest for a thousand miles.

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Spotinvest rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Spotinvest

Patrick December 20, 2022 - 23:42
Unfortunately, these scammers cheated me
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Managers talk about licenses, but all this is complete nonsense. These are fake statements, as are the contact details on their website. While you are still being led by the tales of these crooks and continue to make financial injections, they respond. And then they will disappear. I have already asked the regulator for help. However, what’s using this if the office exists only online? I don’t understand how I could fall for the bait of financial scammers like that. I always tried to be as careful as possible…

Reply
Marco January 5, 2023 - 19:21
Fraudsters like to deceive newcomers
The level of trust

I can’t say anything good about this broker, because it does not fulfill the agreements it has undertaken. It’s just trying to breed you for a larger sum. It is a scam scheme that is built on empty promises. However, in the case of beginners, it works. I needed to choose a broker more scrupulously and not rush to register on the first website I came across.

Reply
Sid January 16, 2023 - 09:39
They stole a lot of money from me
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I regretted that I trusted this broker with my money because I lost everything and now I can’t get out of debt. For trading, I took a bank loan. If you think that financial scammers make exceptions for at least someone, then you are very wrong. They absolutely don’t care about anyone. The main thing is to fill their pockets with money and then get out of sight. I understand that these are serial scammers who will not stop there. I can’t take my money back. It’s hard to count how many more victims they have.

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