Trading platforms of the world-known Forex market attract potential investors from different countries. This is often used by swindlers creating "fly-by-night" companies whose bright advertising slogans and attractive publicity have only one goal - to trick their clients into earning as much money as possible. As soon as the goal is reached, such brokers in the trading sphere stop communicating and block accounts of dissatisfied traders. When the negativity becomes too much, they just disappear and reborn under the name of a new broker to start "processing" new gullible investors. Apparently, the project, which presents itself as a broker, called Rival Systems is just of this category. In order not to spread false accusations, let's go over the facts and check the details of the company's activity to warn traders against cooperation with the Santander Invest scammer.
Types of trading accounts offered by Santander Invest
The fake broker offers several types of accounts for traders to choose from. The minimum initial deposit amount is $10,000, not $100 or $1,000. However, as reported by the traders on the forums, the scammers often process their new victims and are not squeamish about accepting smaller amounts.
When choosing all tariff packages (except Platinum plan), Santander Invest offers trading leverage at the level of 1:200. For investors who choose the Platinum account type and make a minimum deposit of $250,000, the leverage is set at 1:300.
The working conditions are up to 25% of the margin credit.
Maybe beginners do not know that the maximum leverage level shown by swindlers is 1:200 and is not allowed for companies that have been accredited by the FCA (the maximum allowed by the regulator is 1:30). So either they are working illegally or they are giving false information. But alas, more likely both.
Experienced traders realize that behind these figures there is an evident intention of financial swindlers, who stand behind Santander Invest, to make debtors out of their clients, who came as investors with big money.
Santander Invest Trading conditions
Santander Invest is positioning itself as a "world leading broker".
And what does a potential client see? The results of even a cursory inspection of the official Santander Invest website are clearly not in favor of the company. Like most crooks, the scammers of this company have been greedy when ordering a web resource. As a result, the fake broker tells about favorable conditions and high profits from the platform of a one-page website. In this case, the functionality is not convenient, and there is no specifics on each question.
The main language for the participants of the platform is English. For Russian-speaking users, a translated machine version is offered, but its quality leaves much to be desired and makes you smile more than give the company your money. The official website is also available in Polish and German.
On the main page of the scammer you can see what services they "provide".
Forex trading with over 60 currency pairs, as well as over 10,000 shares from world markets, more than 50 types of cryptocurrencies, etc.
The legend is made with imagination. The company also offers risk-free Managed Accounts, i.e. 100% profitable automated strategy. It is a deliberate deception of traders because forex trading operations cannot be completely successful. False broker in a hurry to lull potential customers, explaining his guarantee of a "deep learning neural network", which was developed by the company specifically for this project.
In reality, the trading terminal is just an imitation. The scammer does not take a single transaction to real exchanges and does not give access to marketplaces.
Moreover, the scam project requests access to the computer of each of its clients. Why would a broker do that? To get hold of information about traders' ewallet passwords?
In fact, even if a trader sees a profit in his Live Account, the scammers do it artificially, because the platform does not allow to withdraw money, because the terminal is fake, a pathetic imitation of the real one.
At the same time, the forex dump shows gigantic appetites, but does not offer a demo version even for inexperienced traders.
Step by step, figuring out how the scammers work, it becomes clear that there is definitely no need to transfer money to this platform. This scam project confidently promises traders huge profits, but in fact - all this dishonest advertising, which is instantly broken when it comes into contact with reality. In fact, the representatives of this unscrupulous company just set a goal: to take the money of gullible newcomers.
Santander Invest Licenses
Nothing on the site about the history of the company, its founders or at least the top management. With whom do clients have to deal?
The minimum legal information is found in the footer of the site.
Fake broker "gets fooled" upon detailed study from all sides. Everything is already clear to us with the terms and conditions of the so-called cooperation on the trading platforms. The truthfulness and integrity of the project should also be treated very skeptically. Consider how legal is the activity of the project.
The site does not even have the text of the main document (the user agreement), which regulates the relationship between the trader and the broker.
About the domain
Conduct an in-depth inspection and get the data about the domain name through a reputable global service for free WhoIs check.
According to the check, the domain name santanderInvest.com was registered on January 28, 2021. And swindlers assure that the company is world famous! It is unlikely that the project was able to achieve fame in a couple of months. Of course, it is real, but with substantial financial investment. This is not the case, because the cheaters save even on the official web resource!
About the actual address
It is known that the place of domain registration is the USA. The same technical and administrative services.
However, to invite their customers to the office Santander Invest company can not. It simply does not have scammers. There is only an email address support service. It is written that it works 24/7.
About regulators and license
In the footer, as we have shown above, there is a link to the license number 106054, which is issued in the name of Santander UK Plc (Registered company number 2294747).
Let's turn to the British regulator (by the way, the fraudster even gives an active link to the FCA website in the English version of the site).
None of the above companies are suitable for us, despite the partial overlap of names.
For example, Santander UK is a large commercial bank with its main office in the UK (website santander.co.uk). To avoid confusion and fraud the regulator always indicates its website next to the name of the company.
It turns out that the website Santander Invest provided fake data, because a detailed check did not match and confirmed neither the details nor the name of the organization. In principle, the company can be accused of trying to take advantage of the high reputation of someone else's name. Such actions have been seen in many online financial scams.
We have seen that Santander Invest has a non-transparent policy in everything. This is not the way a reputable financial company does things. This is the handwriting of a typical scammer, who is not going to develop activities outside the boundaries of his own mercantile interests. Apparently, the project is designed for inexperienced investors who are just taking their first steps in trading and do not know how to consider the possible pitfalls.
Santander Invest Reviews online
Despite the fact that the website of fake brokerage project Santander Invest is only a few months old, gullible traders have already got caught in its net. This is evidenced by the negative reviews, exposing the financial scams and fraudulent activities of the company.
The first reviews we were able to find were dated February 2021, that is, a few weeks after the launch of the project!
When you read what ex-clients write, a veneer of success and solidity of the company, which is described on the site instantly dissipates.
Swindlers build their business on lies, accordingly they act dishonestly with respect to the law and traders.
People complain that in the beginning everything goes well, profits grow, but when it comes to the withdrawal of funds, everything stops. The site just won't let them withdraw the money.
The pseudo-broker cheats customers, demands to increase deposits, threatens and is extremely intrusive, especially in case of resistance from the trader.
Santander Invest fraudulently "sucks" the money of gullible investors, lulling their vigilance with false sweet promises of honest and large profits.
As the experience of defrauded traders shows, swindlers use a well-known fraudulent scheme - they "accelerate" the client's trading account, squeeze all they can out of it, and when the trader tries to withdraw his money, they block the account and cut all the contacts. As a result, the broker is left with the investor's money and the investor bewails the loss of time and money.
Safety and security of funds with Santander Invest
We can't talk about the safety of funds and trading accounts with an unnamed company. In the Risk Disclosure section, the scammer writes off with cliché phrases. Every trader should stay away from such companies, especially those who are just learning to earn on online trading platforms.
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Santander Invest is a fake brokerage company, which is far from the world's leading broker. This scam project promises fast earnings, but in fact it is just another typical scammer, which deceives trustful traders and takes their money. Watch out and don't get caught by the scammers!