BenorInvest – Identifying the Problems with the Broker
Online trading has become one of the game-changing trends to have emerged in the 21st century because it gave everyone access to the financial markets. Before it, people could only dream about trying their luck in this space and making money like some of the...
Online trading has become one of the game-changing trends to have emerged in the 21st century because it gave everyone access to the financial markets. Before it, people could only dream about trying their luck in this space and making money like some of the renowned investors who made their wealth. Technology and the internet has changed every industry and this one is no different. You can now trade from the comfort of your home, or office or pretty much anywhere. The only prerequisite is to open an account with a broker. Hundreds of these can be found online and this BenorInvest review offers you details about one of them.
Since there are hundreds of brokers offering their services, you are going to be confused about which one to go with. Almost every platform you check out will claim to offer you the best and most professional services out there and this can often overwhelm people. Many make the mistake of signing up with a broker at random and end up learning about the existence of shady and fraudulent companies the hard way. Indeed, not every platform you come across will be authentic as there are impostors and scammers operating in the market and ready to exploit you at every opportunity.
Their goal is to steal your money, or your information in order to misuse it. Therefore, you have to take this decision after closely evaluating a broker and not sign up with any random platform. Otherwise, you will have to face the disastrous consequences if the company turns out to be a scam, or an incompetent one. The key is to remember that you should not judge any broker by its cover. Their website and the claims they make should always be taken with a grain of salt.
It is essential to check the facts to avoid disappointment down the road and the same rules should be followed where BenorInvest is concerned. A look at their website shows that it claims to be a reliable and professional broker that offers transparent trading conditions, advanced trading software and security of funds to all its clients. Of course, this sounds like a dream come true, but as it turns out, nothing BenorInvest says can be believed. Why? There are a number of problems that you will unearth when you do some fact-checking and these are:
Virtually anonymous broker
The first problem that you will encounter when you check out BenorInvest is that the brokerage appears to be virtually anonymous. The fact that you are dealing with a company over the internet is already a big risk and then you have to trust them with your money and your data as well. This leaves you quite vulnerable, so it is understandable that you want to know as much as possible about them before making up your mind.
You will find that professional and genuine brokers are transparent about their corporate background and share extensive details, but BenorInvest has done no such thing. You can go through their entire website and find no mention of the company behind the brand. This anonymity is an indication that the company you are dealing with is not licensed or regulated anywhere.
An unlicensed and unregulated brokerage cannot offer you any protection because they do not have to comply with any rules or regulations and do not offer safety of funds either. Just because BenorInvest claims to do so is no guarantee that they will and as there is no contact information available on their website, you will not be able to take any action if there is a problem.
Offer of trading bonuses
The second problem that you will come across at BenorInvest is the fact that they are offering trading bonuses to their clients. Why is this a problem? It is an issue because these days, it is mostly scam and shady companies that are offering these bonuses. Authentic and legitimate ones are no longer engaging in this practice because it has been banned in different regulated jurisdictions.
This was because these trading bonuses came with strings attached and the policies of the brokers became very malicious. This is exactly what you will find at BenorInvest when you check out their bonus policy. According to their Terms and Conditions, traders will not be able to make withdrawals from an account that has been credited with a bonus until they meet a specific turnover requirement.
First off, no genuine broker would ever prevent its clients from withdrawing their funds. Secondly, if you take a look at the turnover requirement, you will find that BenorInvest has deliberately kept it high, so people will not be able to achieve it altogether. This is common amongst shady platforms.
The leverage that an online broker offers is also relevant because it affects your trading flexibility. The fact that BenorInvest is offering ratios as high as 1:200 might seem attractive to some, but are a warning sign. This is because such high leverage levels are not offered to retail traders in most jurisdictions. Regulatory authorities have imposed a cap on the maximum leverage that can be offered because it is extremely risky. This is further proof that BenorInvest does not have your best interests at heart.
Inaccessible trading platform
One of the most important features that an online broker offers is their trading platform, but when you try and access the one offered by BenorInvest, you will not be able to do so. The broker claims that it gives you the MT5 trading platform, which is recognized as one of the top software in the market with the latest technology and tools.
However, the link that is provided on the BenorInvest website leads to a web trader and it does not function. This is definitely suspicious and increases the possibility that they are only misleading their clients.
These are some of the prominent problems that you will unearth when you evaluate BenorInvest closely and indicate that the broker should be avoided.