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InvestBoost Review: A Flagged Brokerage Firm

InvestBoost Review: A Flagged Brokerage Firm

InvestBoost claims to be an accessible platform that is far from the truth. The parent company behind this platform has been involved in other scams. Invest Boost is just one of the many brokerage firms Malarkey Consulting Ltd owns. Investboost.co is a sister broker to PrimoTrade, another proven trading scam. Investors should stay away from both of these brokerages. There’s no actual trading taking place, making them totally worthless. Get to learn what we found out in this honest INVESTBOOST Review.

InvestBoost Review

A genuine broker will offer guidance where needed in terms of safer trading options. This is what every trader needs to get ahead of the pack. It’s what successful traders have been using over the years. Sign up with commendable brokers who have proven their worth in the industry. These brokers come highly recommended by experts and the trading community. Sign up with the best brokers who value investors and offer safe trading conditions.

A Brief Overview of InvestBoost

Once you land on their page, you get a feeling of having the right broker. The call to action reads ‘Run the world of online trading.’ What makes this broker appear legit is the industry jargon they use.

It does appear that this is a true trading website, thanks to the visual appeal. Before using your impulse to sign up, there are a couple of things to note. There are several red flags found on the platform.

Most newbies are taken away by the promise of quick money. It’s a get-rich scheme that takes advantage of unsuspecting investors. It would be best if you did due diligence before signing up with this broker.

One way of making sure you’re in the right place is by reading our reviews. We make sure that we expose all brokers who try and take advantage of naïve investors. InvestBoost is no different as it’s nowhere near a legit platform.

Our investigations will show you why this is a ruthless broker. Thanks to our keen eye, we will help reveal the red flags that most would fail to note. Invest Boost has nothing to offer except misery and pain to members.

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Account opening routine

Opening an account with them is easy as you need to fill in the address, email, and full names. Verifying the platform is what makes this platform a headache. The broker asks for sensitive information, including a copy of your ID.

When confirming the account, you are required to send bank statements and credit card details. With these documents, the broker can buy goods and services using your credit card.

We have seen in more cases than one broker gaining access to bank accounts. Once they have your bank account, their next move is to clean out your account.

Assets and trading instruments

The platform offers four classes of assets which include commodities, forex, indices, and stocks. Expect to get stocks from leading companies such as the FAANG group. The broker offers convenient leverage at 1:25 and 1:50, which is in line with industry standards.

There’s a claim that the broker offers low spreads with no data given. You also get trading signals depending on the account type you choose.

Business holder

Malarkey consulting Ltd is the parent company with their address in the Commonwealth of Dominica. This is another red flag as the parent company is involved in several scams. The Financial Conduct Authority has flagged most of the sister sites to invest boost.

We are sure the Company is a random entity. No one is associated with the company. We couldn’t even get any social media profile belonging to the company.

Comments from members

Invest Boost User Experience

Vlasta Werich is one victim who lost $5,600 with the platform. He deposited the initial $6,000, and the balance on his account was $5,600. No one knows where the $400 went, and the broker claims its transaction fees.

After a week of noticing the account balance was growing, he decided to withdraw funds. It’s now been two months since his request, and he can’t gain access to the account. The broker has blocked the account and fails to respond to Vlasta’s emails.

Domain insights (investboost.co review)

The domain is 276 days old as we publish this review. According to records, the website went live on July 12, 2020. The registrant’s name was redacted with privacy the reason given for it. Malarkey Consulting Ltd is the registrant organization behind it.

With no name on the company and website registry, this is definitely an anonymous website. We urge investors to stay away from anonymous trading websites.

Features of InvestBoost

Account details

InvestBoost offers users six account types to choose from. Members get Starter, Basic, Trader, Profi, Expert, and Master accounts. $250 is the basic minimum requirement for the starter account.

Most of these accounts share the same features, which show the broker’s intent. The broker wants to enlist all classes of investors and swindle as many funds as they can. None of the accounts come with unique features such as live trading sessions with a professional broker.

InvestBoost Account Types

Account manager

Another false feature on the platform is the account manager. The broker is using call agents to act as account managers. You will notice that the account managers rarely give any advice. All they do is the claim that the more you deposit, the higher your chances of winning.

None of the account managers have any trading experience. We also don’t get the names of these professionals, which adds suspicion.

Bonuses

Beware of brokers who offer bonuses and commissions to investors. That’s the message from industry-leading regulators. This was after the regulator found out the reason for the bonuses. Offshore brokers will leverage your account and ask for more funds unless you deposit a certain amount.

The broker is holding accounts for ransom and asking for more deposits for members to gain access. This is outright fraud, and no investor should have to go through this ordeal.

Contact and support

With the broker having a quality website, there’s no live chat support. The contact page has an email address and a phone number that doesn’t work. Don’t believe the Google map as anyone can claim to live on any location.

The broker should avail direct communication channels to investors.

Deposit and withdrawal

The platform only allows bank and wire transfers. If your account is dormant for six months, there’s a 10 percent penalty on balance available. These are draconian rules that don’t stand a chance in the real trading world.

Don’t deposit funds as withdrawing them is a nightmare with this broker. No one has managed to withdraw funds since the inception of this broker. The only working channel is deposits which help the broker.

Safety of funds with InvestBoost’

Investboost.co Trading Platform

With all the evidence pointing to Invest Boost being a scam, there’s no security of funds. The broker does not follow set trading rules such as segregation of accounts.

Once you deposit funds, the broker transfers them to a private account. There’s no need to hire recovery agents as they have no power to recuperate funds.

Scam or Legit InvestBoost

InvestBoost is a scam waiting to pounce on investors. There’s no actual trading place, and the broker is taking members for a ride.

Closing remarks

With the evidence clearly showing investboost.co is a scam, we must add it to our blacklist. We don’t recommend interacting with the staff members or the website.

Go for already proven brokers with years of trading experience. The only way to trade safely is by using the best brokers in the industry.

Our team wishes you all the best in your trading journey.

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