Forex Reviews and Recommendations

SCAM BROKER

for InvestTechFX

2/3/2010

1 of 1 customers found this helpful (100%)

Pros:

None

Cons:

Slow cash withdrawal process

Bottom Line:

No, I would not recommend this to a friend

Quote:

InvesttechFX (IVT) is a scam company. I strongly advise traders to withdraw fund immediately or those who intend to open with them, not to do so.
1.Clients’ funds are deposited into TD Canada Trust as instructed by IVT but they moved these funds out, without clients’ knowledge or approval, to the clearing department of a third party trading outfit.
2. IVT claims on their web-site that they insure clients’ funds up to USD100k. Legal background check has shown that they are NOT a member of Canadian Deposit Insurance Corporation (CDIC), in which they claimed they are. Further check with CDIC web-site also reveals that CDIC only insures Canadian dollar deposits and not deposits in any other currencies!

IVT is NOT a regulated broker and they do not have proper business practice. Their website claim on fund insurance very deceiving and their business practice is unprofessional and unethical.