INVDOM PYT LTD is a newly established Forex broker in 2024, primarily offering investors trading services in financial derivatives such as Forex, stock indices, and cryptocurrencies. The transparency of its official website is low, lacking crucial information on account types, trading products, spreads, and leverage.
Company Background:
INVDOM PYT LTD is a financial service provider registered in Australia, with a detailed office address at Level 16, 175 Pitt St, Sydney 2000, NSW. The official domain name of this broker was registered on March 14, 2024, making it a very new establishment, not even a month old at this point. Additionally, the broker's operating regions are limited, not offering services to residents of countries such as the USA, Afghanistan, Belarus, Myanmar, Central African Republic, Congo, Cuba, Egypt, Guinea, Iraq, Iran, Lebanon, Libya, Mauritius, North Korea, Pakistan, Somalia, Sudan, Syria, Venezuela, Yemen, and Zimbabwe.
Regulatory Status:
INVDOM PYT LTD claims to be regulated by the Australian ASIC, with an AFS number of 001308576. According to the Australian Securities and Investments Commission (ASIC) results, WHOLESALE INVESTOR SERVICES PTY LTD holds an Australian ASIC regulatory license and sold AR authorisation licenses to several brokers, including INVDOM PYT LTD. Investors, please note that INVDOM PYT LTD has only purchased an AR authorisation license from WHOLESALE INVESTOR SERVICES PTY LTD, with no other relationship between them, meaning this broker is currently not effectively regulated. Investors should remain vigilant towards the Forex and related services provided by this broker to avoid potential financial losses.
Trading Products:
The broker offers various trading products, including Forex margin trading, cryptocurrency trading, and stock index contracts for difference (CFDs). In Forex and trading, prices of various currencies are used as indicators, and incorrect predictions of their fluctuations could lead to losses and may involve paying or receiving swap points. In stock index CFD trading, the underlying assets are stock indices and related ETFs, where inaccurate price fluctuation predictions could also result in losses, and traders may need to pay overnight interest, holding costs, borrowing interest, and dividend adjustment fees, with overnight interest possibly varying due to currency interest rate fluctuations.
Account Types
The broker's official website lacks transparency, not clearly disclosing specific information such as account types, trading hours, spreads, and leverage ratios to investors.
The registration process for an INVDOM PYT LTD account is as follows:
- Enter an email address: On the registration page, enter an email address. Users will receive login information via email.
- Enter basic information: Fill in basic information such as name and address.
- Submit verification documents: Submit identity and address verification documents to complete the account registration process.
By following these three steps, users can successfully register an account with INVDOM PYT LTD and start using its trading services.
Deposit and Withdrawal Methods
Deposit methods: Customers can choose to make deposits via domestic bank transfer or cryptocurrency remittance (USDT). Domestic bank transfers require customers to pay transfer fees but usually complete the deposit within 15 minutes. Cryptocurrency remittance (USDT) requires paying a fee of 1USDT and 3% of the remittance amount, but the deposit will be credited immediately.
Withdrawal methods: For withdrawals, customers can choose to have funds withdrawn to their designated financial institutions (usually national banks) or through cryptocurrency remittance (USDT). Customers using designated financial institutions for withdrawal enjoy a basic fee waiver and will receive funds within 3 business days after the request. Withdrawals through cryptocurrency remittance (USDT) require paying a fee of 1USDT and 3%, but funds are usually received within 15 minutes. Note that orders after 5 pm will be processed the next business day.
Market News:
The broker has set up a news section on its official website to release market-related information and viewpoints and analysis on market dynamics and trends. However, the quantity of market news is very limited, confined to a few pieces published in May 2023, with no updates thereafter. The limited market news fails to provide traders with relevant value or assist traders in making more informed investment decisions.
Customer Support:
Users can further contact the broker by sending an email to support@invdom.com.
Conclusion:
INVDOM PYT LTD is an emerging Forex broker not effectively regulated, with its Forex and related services lacking stringent regulation, potentially exposing investors to significant trading risks. INVDOM PYT LTD has low transparency, missing important information such as account types, trading products, spreads, and leverage.
Currently, INVDOM PYT LTD is marked as "Suspected Fraud" on TraderKnows.
