Cannot withdraw money!
Cannot withdraw money!
This is my honest, first-hand experience with Invested Capital. I signed up for an account with them back in September of last year. At the beginning, I was impressed by the professional website and the trading mentoring/education provided by our broker. I was even able to initially withdraw some money about a month into trading which offered reassurance that they seemed to be a legitimate and trustworthy company. The broker made contact several times a week and over a span of months managed to build my trust. When I was told of special trading opportunities that required a larger account balance, I made the decision to deposit more money. In total, I deposited around $10,000 NZ before I realised that something was ‘off’. The first major warning sign was that they showed a lack of transparency and were misleading and manipulative. I was given no clear explanation by my broker of what the implications were of receiving their deposit bonus. The bonus agreement contract was vague and stated that money 'in connection with the bonus' could not be withdrawn until a specified trading volume was met. I could understand not being able to withdraw the bonus amount until certain conditions were met; that seemed very fair and reasonable to me. The shock came when I was told that the bonus agreement had effectively locked up ALL the funds in my entire trading account! I emailed them to ask whether it was possible to close the account, leave all bonus money and all trading profit behind, and only withdraw my initial invested capital (surely that would not be connected in any way with the bonus money?). My question was completely ignored. The second warning sign was that only a few weeks into switching to a trading strategy which focused more on achieving the required trading volume, my broker suddenly disappeared without warning and broke all contact. I was essentially left to my own devices. Thankfully, over a period of about 2 months, I managed to actually achieve the trading volume. What is fascinating is that when I got really close to achieving my trade volume, I got an email message accusing me of using the ‘arbitration technique’ while trading, which they defined as being “the use of simultaneous multi-directional transactions in the same asset”. They threatened to restrict me from trading without further notice. I panicked and in less than 10 minutes, I had completed my trade volume by trading on Heat Oil. It really did seem like their plan was to block me from trading so that I could never meet the volume or withdraw my money. After that, I initiated a withdrawal request and they presented another excuse. They claimed that since I used the ‘arbitration technique’ some of my trading volume didn’t count and so I still hadn't met the required volume. When asked to provide more details about what trades they were referring to or how much trade volume was affected, they were not forthcoming. Not surprising really, since the so-called ‘arbitration technique’ is not a real thing. There is something known as arbitrage in trading however I am 100% positive that I did not do anything like that. Nevertheless, to humor them, I began trading again to compensate for any potential ‘nonviable’ trades. A day into trading with renewed vigor, my entire trading history got wiped! Long story short, my main withdrawal request of $1000 US was initiated on the 26th of Jan, 2022. It has now been over 2 months and I have gotten absolutely nowhere. Many of my emails are still being ignored and when they do reply, it is unhelpful and vague. The only conclusion that I can draw is that either they have the worst customer service I have ever encountered in my life or they are stalling and have absolutely no intention of returning any of my money. At the time of writing this review, I have almost $20,000 US locked up in my trading account with Invested Capital. I strongly advise extreme caution with this company and to not accept any deposit bonuses from them, no matter how enticing! Despite the claims on their website, after extensive searching I have found no evidence that they are a registered entity. In addition to this, they claim that half a million traders are using Invested Capital. If they have half a million traders, where are they? Where are the reviews? The online presence? Their address is somewhere in the Grenadines - something that doesn't exactly inspire trust either. Overall, my advice to anyone reading this is STAY AWAY from Invested Capital and go find a regulated broker in your own country that you can be sure you can trust.
28 December 2021
Unprompted review