RECOMMENDED FOREX BROKERS
2Invest looks and plays the part of a broker that we like to see. It’s simple, elegant, yet deep enough to keep you interested for more than the first few exciting moments of profit or loss. Read the review to find out the important details about 2Invest.
The regulatory information contained in the website has the potential to mislead you if you do not read it carefully.
The holding company of 2Invest is Habonix Solutions Ltd, and is located in Cyprus. The second parent company is Aronex Corporation Ltd, and it is the one that is licensed by an official regulator in Seychelles. What’s more is that the Terms and Conditions clearly state that the legal docs work under Seychelles law.
What must be dully noted here is that the broker does not directly say that it is licensed by the Cypriot watchdog CySEC. Just to make things 100% sure, we went on the regulator’s database, and found no result of the company there.
The broker is, however, regulated in Seychelles. The local Financial Services Authority (SFSA) requires out of all brokers a minimum capital of $50 000, plus the broker must be located in Seychelles with at least two local directors and shareholders. However, the SFSA does not abide by the segregated bank accounts policy, meaning that they can lawfully mix your money with theirs. And furthermore, the SFSA is considered an offshore regulator.
So we are in an interesting situation here, where one of the parent companies is regulated while the other is not. So we are left with the interesting conclusion, that 2Invest is only half regulated. We know it sounds ridiculous, but in what other way can we put it?
Before moving on, we have to reveal that the company does not accept customers from North America and Europe. This was evidenced by our long struggle to open the website while using VPN; we tried with a dozen or so VPN addresses, when we were finally able to access 2Invest with a virtual address somewhere from South America. Later on, we found this to be true; the website reveals the operation locations. Most of them are in South America. The rest are in Central America.
Another nuisance was the missing demo account type, whose lack will influence the review, because in order to open a live account one must attach his or her identification documents. Do not think that this is a bad approach; in fact this proves that 2Invest verifies each and every one of its potential investors. The reason for our discomfort stems from the fact that we have to look to the website from all trading information and payment details, such as funding methods and withdrawal fees.
So, the spread, for some unspecified financial instrument, is as low as 0.7 pips for the standard account, which is an excellent value. The leverage is 1:500, the most typical offshore broker leverage value there is. Trading instruments fall into these categories: forex currency pairs, cryptocurrencies, stocks, commodities, and indices.
The available languages are English, Spanish, and Portuguese.
Another great news for those interested trading with 2Invest is the inclusion of the one-of-a kind MetaTrader 4.
This is an unmatched trading software, that comes with all the tools you will ever need to keep you busy in the forex industry. It has the reputation of being complicated, and we won’t lie to you; it is at the beginning stages. Once you get the just of it, then you will see just how much there is to it. You will not be disappointed.
The broker prides itself on not including any spread commissions.
2INVEST MINIMUM DEPOSIT
It seems that there are only two payment methods: through cards, and wire transfer.
Unfortunately, we found to information on a minimum deposit. We believe that users learn the value once they register in full.
There are no fees on deposits.
The broker has the right to cancel you deposit or not accept funds from you in case 2Invest sense that the user at hand might file for a chargeback sometime in the future.
2INVEST WITHDRAWAL TIME AND FEES
The minimum withdrawal amount is $100.
The processing time for withdrawals can take up to 7 days.
Before withdrawing, the user must have at least 300% of free margin. This puts pressure on users, and does not allow them to withdraw when ever they please. Any kind of requirement prior to withdrawing is definitely problematic.
There are charges mentioned in the Terms and Conditions. The ones we are bout to reveal are the ojes we found out. We caution readers that there might be more.
A fee that we got a hold of was a withdrawal one of $50, activate only if the user has had no trading done prior to the submission of the withdraw request. So, always do some trading, eve the smallest amount, before issuing for a withdrawal.
Inactive accounts are define the following was: any account that has not been used to do any trading for over 60 days. Dormant accounts are feed by €80 until the 91st day. After that, the fee augments to €120. After passing the 181 day threshold the inactive user is fines with €200. From the 271st day of dormancy, the charge will be €500. The clause is to big to include.
Once a user accepts a bonus, he must complete a trading requirement should he wish to withdrawal the bonus. 2Invest requires that the client trades 10 000 times for every $1 of granted bonus.
There are some aspects of this broker that might push you away, and this is completely understandable. Needless to mention the questionable regulation practice is also worth noting. Honestly, however, we do not see something wrong with the broker. It has great trading conditions, and a superb trading platform.