101investing Review 2022: Platforms, Accounts, and Scam Signals
Investing is one of the most important things you can do to help plan for your future. But it is also a topic that many people find confusing. There are so many options that it can be hard to pick the right one for you. To help you figure out what might work best for your situation, check out this 101investing review.
This article will tell you everything you need to know about whether it is safe to work with 101investing.
In case you have lost your investments to this or any other broker, you can get it back. Book a free consultation with Trader Protection and discuss this further with experts. Remember the faster you reach out, the better your chances of success.
101investing review: A quick overview
101investing is a forex broker that offers low-cost trading and investment options to its customers. It has been in business since 2016, so it’s considered a relatively new company compared to some of the other brokers on the market today.
Its parent company is FXBFI Broker Financial Invest Ltd with headquarters in Limassol, Cyprus. The company has been licensed and regulated since its inception by CySEC standards.
It currently offers access to over 250 CFD instruments—indices, cryptocurrencies, stocks, forex, and commodities. The broker has a variety of instructional tools at the disposal of both commercial and retail customers.
MetaTrader 4 (MT4)
This broker provides an MT4 trading platform. The platform offers a quick, easy, and adaptable trading experience with a variety of sophisticated features to fit various trading methods. It’s designed to help investors improve their decisions by providing analytical tools, market indicators, and price notifications.
The 101investing MT4, which is accessible from the website, may be downloaded on Windows or Mac. However, traders will need to create an account with 101investing to access its MT4 platform.
WebTrader allows traders access to financial instruments without downloading an app. Demo accounts are available on this platform for beginners too.
Traders select their favorite account based on their past trading experience and financial objectives. The broker offers the following types of accounts:
- Gold: Swap discounts of 25%
- Platinum: Leverage up to 1:30, swap discounts of 50 percent
The minimum deposit is $250.
Gold and Platinum accounts come with several extra features, such as webinars/videos, an account manager dedicated to the account, and news alerts for professional accounts only.
Like any other questionable forex broker, 101investing has a few “baits” it uses to lure innocent victims. Here are some of them:
- Several educational tools are available
- It claims there are no deposit or withdrawal costs, but bank fees apply
- It is regulated by a reputable body
- 101investing offers various trading instruments offered
- A trader gets many options for depositing cash: These include bank wire, Paydoo, credit cards, Skrill, emerchantpay, SafeCharge, Solidpay, and Worldpay. The minimum deposit is $250, and it may be made in any currency.
Disadvantages of 101investing
Even as it tries to bait investors, there are several disadvantages that still put people off.
- There is no copy trading or social trading at this firm
- It is not available in the US
- There are no further tools available on the trading platform except those provided
- The product line is limited
- The spreads are not as attractive as those found at other respected forex and CFD brokers
- Customers complain about poor customer care.
- Limited withdrawal options
101investing scam signs
It can be discouraging when, as an investor, you fall into the hands of a scam forex or CFD broker. So, here is how to tell if 101investing is a scam. If you have had inconveniences caused by this or any other forex broker, contact Trader Protection to get help.
Some traders claim that they got a lot of support from the company’s staff when they started investing. But once they began making significant profitable trades, the staff would advise them to invest in specific funds with large spreads.
This favored the broker, so the entire profits ended up with the company. Sadly, many of these trades don’t end up well for unsuspecting and inexperienced victims. They either lose lots of cash or blow their accounts.
They push traders to invest
Traders complain of being pushed to invest funds, even when the traders actually wanted to process withdrawals. These are straightforward signs of investment fraud. Those who follow the managers’ advice end up losing a lot of funds.
Account managers also pressure new traders to deposit more money for bigger returns. This often leads to loss of funds and should be dealt with carefully.
Not a safe place for inexperienced beginners
Beginners are not fully advised of the risks and strategies to follow in forex trading. This is a major red flag for any broker.
The customer success team needs to focus on providing help when new traders are looking for help in avoiding losses. All they do is convince traders to deposit more funds, especially after losses, promising them to recover what was lost.
Unprofessional customer care
From endless nagging calls to rude customer care, the company does not handle customers professionally. Various traders have lodged complaints about poor customer service.
If you are new in forex trading, it can be very discouraging dealing with unprofessional staff. The account managers harass clients who do not deposit a huge amount of money. Turns out ‘it is not a place for the small-scale traders.’
The company’s investment schemes are not transparent. It’s hard for investors to withdraw their funds from the broker. They end up losing more money in the process if they listen to the pestering managers who encourage more and more deposits and poor trades.
101investing review: Is it a scam?
Yes, it’s a scam. Don’t be duped into putting any single cent here.
101investing seems to be a good broker in the beginning. But once you make some significant profits, they will do everything possible to force you to lose all your cash by investing it for better profits.
It is not safe for beginners because there is no professional advice. Withdrawal is a mess. And the “account managers” will just not stop calling you with weird requests to either deposit or open unsure trades.
The company’s promises of big returns are just an illusion that has been used as a façade to steal your money.
In conclusion, this broker is not worth it, and you should look for other options in the market.
If you have been conned by any scam forex broker, do not let them get away with it. Book for a free consultation and we’ll advise on how you can get your money back.