InvestFW is a contract for difference (CFD) broker established in Cyprus, with its headquarters located in Limassol. The company primarily offers CFD trading services for forex, stocks, indices, commodities, precious metals, and more. The official website for this broker is: https://www.investfw.com/, and it supports languages including English, Italian, Spanish, German, Portuguese, and Swedish. It's important to note that InvestFW does not provide services to residents of the United States, Canada, Israel, Iran, Japan, and jurisdictions under legal restrictions.
Company Background:
InvestFW, along with TradeFW and Tradedwell, is owned by iTrade Global (CY) Ltd, a company registered in Cyprus with registration number HE 335424. The specific office address is Arch. Makariou 230 Regency Building, 1st Floor, Flat/Office 102, 3030, Limassol, Cyprus. According to information disclosed on its official website, InvestFW ceased its operations in August 2023. According to Whois records, the broker's domain name was registered on November 26, 2019.
Regulatory Information:
InvestFW is regulated by the Cyprus Securities and Exchange Commission (CySEC). However, the broker's regulatory status is listed as "Under examination for voluntary renunciation of the authorization."
CySEC Imposes €1 Million Fine on Itrade Global (Cy) Ltd:
Cyprus Securities and Exchange Commission (CySEC) announced a €1 million fine (€1,000,000) on Itrade Global (Cy) Ltd on April 13, 2023. This action was taken because Itrade Global failed to establish policies and procedures to monitor the activities of its Spanish agents, among other reasons. According to legal provisions, investment firms are fully responsible for any actions or omissions of their agents when they act on their behalf. Furthermore, CySEC found that Itrade Global's agents did not take appropriate measures to identify, prevent, or handle conflicts of interest and did not provide investment services to clients honestly, fairly, and professionally. They also failed to ensure that all information provided to clients was fair, clear, and not misleading.
The agents of the company did not ensure that natural persons providing information on financial instruments, investment services, or ancillary services had the knowledge and competence required to fulfill their obligations under the law. Additionally, CySEC found violations related to compliance functions, product approval processes, and the obligation to retain telephone call records.
Trading Products:
InvestFW offers a variety of financial instruments for users to trade, including:
Forex: InvestFW provides opportunities to trade various currency pairs in the forex market. Forex CFDs allow investors to trade based on price fluctuations between one currency and another. Examples of available currency pairs include EUR/USD, GBP/USD, USD/JPY, and more.
Stocks: Traders can engage in CFD trading for stocks of different companies, including well-known ones like Apple, Microsoft, and Amazon. This enables investors to participate in the market without owning the actual stocks.
Precious Metals: CFDs for precious metals like gold and silver offer trading opportunities based on price changes. Investors can trade precious metal CFDs without needing to possess physical assets, potentially benefiting from price fluctuations.
Commodities: CFDs for commodities allow investors to potentially profit from price fluctuations in raw materials and resources. Commodities include items like crude oil, copper, and iron ore. These CFDs enable investors to participate in various commodity markets without holding physical assets.
Indices: InvestFW provides index CFDs, representing the performance of a specific group of stocks within a market.
These products provide opportunities for investors to access different financial markets and manage risks through diverse investment portfolios.
Account Registration:
InvestFW's official website only has a login portal, and a registration portal was not found. It may be necessary to contact InvestFW to obtain registration forms.
Account Types:
InvestFW offers three account types:
- Silver Account
- Gold Account
- Platinum Account
Users can choose the account type that suits their trading needs.
Spreads and Leverage:
InvestFW offers a maximum leverage of 1:30 for all three account types. Spreads vary depending on the account type. For the Silver Account, spreads start from 6.9, for the Gold Account, spreads start from 1.3, and for the Platinum Account, spreads start from 0.7. Higher spreads can potentially impact trading negatively, increasing trading costs and starting points.
Deposits and Withdrawals:
InvestFW's official website did not disclose the supported deposit and withdrawal methods.
Customer Support:
Investors can reach InvestFW's customer service through phone, email, and social media channels such as Facebook, Twitter, YouTube, etc. Customer support is available from 9:00 AM to 6:00 PM, Monday to Friday. For urgent inquiries, investors can contact InvestFW via phone for real-time communication.
Summary:
InvestFW offers users the opportunity to trade a variety of financial products. However, the broker was penalized by the Cyprus Securities and Exchange Commission (CySEC) in April 2023, and it ceased operations in August of the same year. Currently, InvestFW is marked as "ceased operations" on TraderKnows.
