Is OBRinvest a trading platform you can trust? Are you sure your funds are in safe hands? At Wealth Recovery Solicitors, a key part of what we do is keep track of companies, such as OBRinvest, to ensure clients are not falling victim to scams. Our tracing services mean we can locate exactly where your money has gone. This then allows our expert team to find the best way to gain your money back.
Who are OBRinvest?
OBR Investments Limited (the owner of the brand OBRinvest) is a Cypriot investment firm regulated by the Cyprus Securities and Exchange Commission. They hold the license number 217/13 and have an office in Limassol, Cyprus.
OBR Investments claim to offer traders a safe, secure, and hassle-free trading experience using the highest security to protect their account holders. They claim all client funds are held in separate trust accounts with investment-grade banks.
You can choose from four different types of trading accounts. The basic package is priced at 250 EUR. You are then given the option to upgrade from this to a Gold account (25,000 EUR), Platinum (100,000 EUR), or VIP (250,000 EUR) with the leverage for clients set at 1:30 for professional clients the leverage goes up to 1:400. The leverage refers to the funds borrowed to increase your trading position so the higher the account, the more leverage you can claim. If you are a premium account holder, you are also given certain privileges such as free withdrawals.
As a firm, it is not regulated to provide financial services to residents in the United Kingdom, Switzerland, and Belgium. OBRinvest, however, is permitted to offer its services to other countries within the European Economic Area.
Account-holders are able to access their accounts wherever they are in the world; however, these accounts are governed by regulations and jurisdictions that may vary depending on where the trader resides.
OBRinvest also has a risk warning on their site declaring the complexity of Contract for Difference platforms. Contract for Difference, or CFD, is an agreement with the provider to exchange the difference in the price of a particular financial product from when the position opens to the moment it closes. The risk warning on the site goes on to say to make sure you are able to afford to take the high risks that come from making such trades and not to go off past performances as there are no guarantees when investing your money.
Is OBRinvest a scam broker?
One glaring red flag of OBRinvest is that they state the price of the minimum deposit can be changed without any notice which means the trader may have funds taken out of their account, which they were not aware of.
While there are no deposit or commission fees, there are monthly inactivity fees that fall out of the norm compared to credible brokers. OBRinvest states they reserve the right to charge account holders inactivity fees after a month of inactivity. Inactivity refers to accounts where no transactions are being made, including deposits, withdrawals, and trading activity. By opening an account, you agree that you are liable to pay these inactivity fees, giving OBRinvest permission to take this money from any funds you have stored if you fail to pay. It is common for Forex brokers to charge inactivity fees; however, this generally kicks in at around six months. The current fee OBRinvest expects you to pay is 80 EUR, which is extortionately higher than its reputable counterparts.
Their Trustpilot reviews showcase the scams carried out, with statements such as ‘Be aware is a legit scam!’ and personal detailed accounts of how account holders were swindled out of thousands of pounds, being misadvised to borrow money against their own house. This contradicts the statement on their website, which states they do not offer financial advice.
With all this in mind, it is clear that you should steer clear of using OBRinvest as there is evidence to show they are a scam broker.
If you believe you are a victim of an online trading scam or a scam carried out by another Forex Broke, our team can help. At Wealth Recovery Solicitors we use our expert knowledge and experience, which allow us to get your money back. Our services are tailored to your individual circumstances to allow the best chances to reclaim your money. We are transparent with all our clients and keep everything confidential. If you are interested in learning more and would like our expertise, please fill out the form on our website where you can select the best day and time to contact you. Alternatively, you can call us on 0203 695 9239.