General Information
VibeInvest is a purported broker that claims to be located in the Marshall Islands. The company offers a web-based trading platform to its clients, along with variable spreads on several tradable assets and leverage up to 200:1. VibeInvest offers five different account types, but the trading platform used is limited to the MT4 platform. The company's website provides limited information about the products it offers, an FAQ section, and some contact details. VibeInvest's low initial deposit is one of its main selling points, but the company is unregulated, lacks transparency, and has a poor reputation with many complaints from customers. Additionally, VibeInvest is located in an unsafe location, which may make it challenging for traders to withdraw their funds. Overall, VibeInvest appears to be an unsafe company, and traders may encounter difficulties if they decide to trade with them.
Pros and Cons
Furthermore, analyzing the pros and cons of VibeInvest, it is worth noting that they offer a modern investment platform and low initial deposit requirements. However, as an unregulated company with little transparency, a bad reputation with numerous complaints, and located in an unsafe jurisdiction, there are considerable drawbacks. Additionally, while they provide a web-based MT4 trading platform, a wide range of tradable assets, leverage up to 200:1, and a choice of five account types, potential difficulties in withdrawing funds and the absence of bonuses, promotions, or offers should be taken into account.
Is VibeInvest Legit？
VibeInvest is, unfortunately, confirmed to be a scam broker. Numerous reports indicate that investors face difficulties withdrawing their funds, encountering excessive withdrawal fees or delays in processing withdrawals. Furthermore, the platform engages in manipulative tactics, pressuring users to deposit more funds without allowing them to withdraw their initial investments. To recover stolen funds from such fraudulent entities, it is advisable to seek professional assistance from services like MyChargeBack.
Market Instruments
VibeInvest claims to offer a wide range of financial instruments, including indices, forex, commodities, stocks, crude oil, and cryptocurrencies. However, these claims lack verifiable proof, and the company has been caught lying about various aspects of its operations. Traders are encouraged to invest with licensed forex trading companies that have established reputations and transparent practices.
Account Types
There are five live trading accounts offered by VIBEINVEST, namely Green, Premium, Platinum, Executive and Presidential. Opening a Green account requires the minimum initial deposit amount of €5,000, while the other four account types with the much higher minimum initial capital requirements of €25,000, €50,000, €100,000 and €250,000 respectively.
Leverage
VibeInvest provides high leverage of up to 200:1 to its customers. While high leverage can result in significant profits, it also amplifies the potential for substantial losses, especially for inexperienced traders. It is advisable to exercise caution and opt for more reasonable leverage ratios when trading with reputable brokers.
Spreads: VibeInvest claims to offer spreads as low as 0 pips, which includes trading costs. However, given the platform's track record of deception, it is challenging to verify the accuracy of these claims. It is crucial for traders to rely on platforms that have a transparent fee structure and provide accurate information regarding spreads and other trading costs.
Spreads
Spreads are influenced by what type of accounts traders are holding. VIBEINVEST reveals that the spread on the Green account is floating around 2.5-3 pips, the clients on the Premium account can experience floating spreads of 2-2.5 pips, the Platinum account with spreads from 1.5 to 2 pips, while the Presidential account can enjoy the lowest spreads of 1-1.5 pips.
Trading Platform Available
When it comes to trading platforms available,VIBEINVEST says to give traders the industry-standard MetaTrader4 and a web-based trading platform. However, the links to download MT4 are broken. The web-based platform is not a browser-based version of MT4, but very basic software with no advanced features, just as the following screenshot shows.
Deposit & Withdrawal
From the logos shown at the bottom of the home page on VIBEINVESTs official website, we found that this broker seems to accept deposits and withdrawals via Visa, Maestro, China UnionPay, MasterCard, Safe Charge and Web Money. The minimum deposit requirement by credit/debit cards is €/£250, while by bank transfer is €/£3,000. The minimum withdrawal amount is €/£100. Note that the broker will charge some withdrawal processing and handling fees, and these fees will be deducted from the transferred withdrawn amount.
Apart from withdrawal fees, VIBEINVEST also charges an inactivity fee. If you did not log in and trade from your account within six months, your account becomes dormant and you will be charged an inactivity fee of 10% monthly.
Customer Support
VIBEINVESTs customer support can be reached through telephone: +441213143345, email: Support@vibeinvest.com. Registered address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.
Conclusion:
After conducting a comprehensive evaluation of VibeInvest's features and practices, it becomes clear that this platform has several significant drawbacks. The absence of fund safety measures, misleading licensing claims, and inadequate customer support raise serious concerns about the platform's reliability and trustworthiness. As a result, it is crucial for investors to approach VibeInvest with caution and explore alternative options in the market.
To mitigate risks and ensure a more secure trading experience, it is highly recommended to engage with reputable forex trading brokers that prioritize fund safety and have a proven track record of providing reliable customer support. By choosing such brokers, investors can have greater confidence in the safety of their funds and access the assistance they may need throughout their trading journey.
FAQs:
Q: Is VibeInv a legitimate investment company？
A: No, VibeInv is not a legitimate investment company. The platform makes false claims about its licensing and fund safety, and its customer support is unreliable. Investors should avoid engaging with this company.
Q: What fees does VibeInv charge？
A: VibeInv imposes various fees, including withdrawal fees and inactivity fees. However, the specific details of these fees are not clearly disclosed, raising concerns about transparency and fairness.
Q: Can I trust VibeInv with my funds？
A: It is not advisable to trust VibeInv with your funds. The company's lack of fund safety measures and questionable practices indicate a potential risk to your investments.
Q: Are there alternative investment options？
A: Yes, there are reputable forex trading brokers in the market that prioritize fund safety, offer transparent fee structures, and provide reliable customer support. It is recommended to explore these alternatives for a secure and trustworthy investment experience.
Q: Does VibeInv provide educational resources for traders？
A: VibeInv claims to be dedicated to educating its clients, but the extent and quality of their educational resources are not well-established. Traders should seek comprehensive educational materials from reputable sources to enhance their trading knowledge and skills.
Q: Can I trade cryptocurrencies on VibeInv？
A: VibeInv asserts that it offers trading opportunities for cryptocurrencies. However, given the company's lack of transparency and credibility, it is advisable to choose established and regulated cryptocurrency exchanges for trading digital assets.
Q: How can I contact VibeInv's customer support？
A: VibeInv provides a phone number and email address for customer support, but their responsiveness and reliability have been called into question. It is recommended to test their customer support channels before making any commitments to ensure they are responsive and helpful.
2023-03-17 17:32
2023-03-03 15:30
