247 First Invest Review: 247firstinvest.com Avoid this Scam!
247 First Invest is another scam in the market that views itself as the next big thing. They request investors not to delay to join the next serious trading venture. You will be joining a realm of success once you register with the entity.
The shady entity guarantees a return worth $10,000. The amount is unrealistic and hard to attain with legit companies. Therefore, you are dealing with a notorious Ponzi scheme, which you should not give a chance to steal from you.
247 First Invest, avail multiple methods that you can use to invest with their company. The platform claims their venture is value-adding and has no hidden charges. The firm also states they have multiple assets available for their customer.
The entity is trading binary options, ETFs as well as managing funds of their customers. The company allegedly has top-notch trading tools, which set them apart from another investment platform in the market.
Traders can also get a financial adviser who will get them throughout their trading process. Unfortunately, this is not an ideal entity that you should trust with your money. 247FirstInvest states that it is upon investors to choose whether they want a wealth manager or an online broker relationship.
247Firstinvest.com Review
247 First Invest is a company that was launched in December 2019. However, according to the information they present on their website, the entity claim to have more than 35 years of experience in Forex.
The investment product that the company is offering is pretty expensive. Nonetheless, the platform has not done much to show the worth of investors' money. To become a member of this company, you need to have an mt4 trading platform.
The minimal amount of funds that you can deposit in this entity is $50,000. There is better Forex trading software that is transparent and does not need such a high amount. There is nothing legit about this platform, and investors should stay away.
The entity is a clone website of a company that was known as Richmondfinance.com. The platform appears to have disappeared into thin air after being blacklisted by a reputable financial watchdog. Everything about these two companies is identical apart from their domain name.
Investors' money is not safe in this entity. 247FirstInvest doesn't disclose the trading condition that the client can expect. Additionally, this entity does not have a demo account. Therefore, the client cannot familiarize themselves with the platform.
In one section of their website, they indicate that the leverage that you can expect from them is 1:50, and the spread is at 0.8 pips. However, in a different area, they indicate their spread can be as low as 0.2 pips and the leverage at 1:500.
The higher the leverage, the higher the risk that you are exposed to. Whoever designed this company seems to be on drugs or not serious. They cannot draw a line of what traders can expect. It is an indicator that you are dealing with fraudsters whose only concern is your money.
Withdrawal and Deposit
As we have mentioned earlier, the company is accepting funds as minimal as 50000 USD. The amount is very high, considering that the company has not yet built a reputation. There are legit investment platforms that offer services at a lower price of $100.
We cannot find anything special regarding 247FirstInvest. Therefore, investors should not trust this scam with a penny. The company fails to provide basic information like the method of payment that is available for their customer.
Additionally, we are in the dark, and we don't know the duration that it takes to cash out. In the term and condition, the company clearly state that you cannot issuer change back. It is not a very good approach but considering that you are dealing with fraudsters, you can expect anything.
In case you abandon your account for one year, you have to pay an annual fee of $25. The entity also has a referral program that investors can use to increase their chances of receiving more income. They do not specify the commission that you will receive.
It appears as if for any new investor to sign up, they must be referred by a friend. The majority of these scam ventures have hidden charges that they subject to their clients. You need to be very careful when dealing with such entities.
Regulation Status
247FirstInvest is a platform that has received warnings from various financial watchdogs in the world. Additionally, The entity is blacklisted and being termed as a scam. They falsely claim to be regulated by CySEC.
The financial body has issued a warning to investors against this scam. Moreover, CINSOB, which is an Italian watchdog, also has blacklisted this platform. It should serve as a warning to those who are tempted to give them a chance.
Depositing money with such an accompany will only result in losses. 247FirstInvest is not legit or transparent. Normalize the act of running a background check before investing in any company. It will save you from dealing with scammers.
Contact Detail
The company claim to have two office address one at Australian and the other at Cyprus. The address are as follows; Sydney, Floor 24 Level Clarence Street, NSW Australia. Their other addresses are at 132 Makarios III Avenue, 3rd Floor, Office 301, Zavos Yiota, CY 3021 Limassol Cyprus.
The information they provide cannot be verified. Therefore, this platform being a scam, will display any information that can win investors' trust. The chances of them being located in this area are very minimal. This is because the authority would put them behind bars.
You can contact them via email; support@247firstinvest.com. From this, you can see that 247FirstInvest is determined to stay anonymous. They do not avail of a telephone number for fast communication with their customers. If you send them an email, you will eternally have to wait for their feedback.
Is 247FirstInvest Legit or Scam?
The warning that has been issued by multiple regulatory bodies is enough evidence that this is a scam. The company is promising investors high returns. However, it is clear that they are not conducting any investment services.
There is no information about the team or founder of this company. Moreover, they do not have a financial report that can show investors how they are performing. We also don't know the strategy that the company is using to earn these high profits.
They claim to have 35 years of experience while they are not even one year old. Them lying about their history says more about their characteristic. If at all, they have been in the industry for over a decade, why is there no feedback from their client?
247FirstInvest is not a reputable investment company. Those who give them a chance risk dealing with a professional con artist. They will not have any second thoughts when it comes to stealing your money. The only thing you will get from them is regret and a huge loss of money.
Final Verdict
247FirstInvest is a messy Ponzi scheme that has multiple red flags. The company is not regulated, and they are operating without a license. Moreover, the initial capital they are requesting from an investor is a lot of money that many cannot afford.
In case you are wondering whether you're going to make a profit using this company, we would like to let you know that you will only make losses. Invest with legit Forex trading software in the market that are transparent.
