Investico.com Review

Based on looking at the Investico.com website, it appears to be an online trading platform specializing in Contracts for Difference CFDs. Our review indicates that engaging with CFD trading platforms like Investico.com carries significant risks and ethical concerns, particularly from an Islamic perspective due to the speculative nature and potential for Riba interest.

Here’s an overall review summary:

• Platform Type: Online CFD Trading Platform
• Company Name: Faraz Financial Services PTY Limited
• Regulation: Financial Sector Conduct Authority of South Africa FSP license 45518, Hellenic Capital Market Commission license 6/927/31-8-2021 for Value Bridge Single Member Investment Services S.A.
• Product Offered: Contracts for Difference CFDs across various assets Commodities, Stocks, Indices
• Minimum Deposit: $250
• Leverage: Up to 1:400
• Risk Warning: Prominently displayed, emphasizing significant risk of capital loss, potential for losing entire balance, and unsuitability for all investors.
• Ethical Stance Islamic Perspective: Not recommended. The core offering of CFDs inherently involves speculative trading and the use of leverage, which often includes elements of Riba and excessive Gharar uncertainty/speculation, making it largely impermissible in Islamic finance.

While Investico.com provides a platform for CFD trading with promises of a “cutting-edge and transparent trading environment,” a variety of assets, and educational resources, the fundamental nature of CFDs itself is highly problematic.

The website explicitly states that CFDs are “complex financial product, with speculative character, the trading of which involves significant risks of loss of capital” and that “may result in the loss of your entire balance.” This level of risk, combined with the underlying mechanisms of CFDs often involving interest-based leverage and pure speculation rather than tangible asset exchange, renders such activities generally impermissible for those seeking to adhere to Islamic financial principles.

Instead of engaging in high-risk speculative trading like CFDs, which often leads to financial detriment and is contrary to ethical Islamic finance, it is far more prudent and beneficial to focus on investments that are asset-backed, transparent, and free from Riba, Gharar, and Maysir gambling.

Here are some best alternatives for ethical wealth building and financial growth, aligning with Islamic principles:

• Halal Stock Investments
  • Key Features: Investment in Sharia-compliant companies no involvement in alcohol, gambling, interest-based finance, etc., focus on long-term growth and real economic activity, potential for dividends and capital appreciation.
  • Average Price: Varies based on investment amount. brokerage fees typically low $0 to a few dollars per trade.
  • Pros: Permissible in Islam, promotes ethical business, diversified portfolio opportunities, aligns with real economic growth.
  • Cons: Requires due diligence to ensure Sharia compliance, market fluctuations can impact returns.
• Islamic Real Estate Investment Trusts REITs
  • Key Features: Investments in Sharia-compliant real estate portfolios, providing income through rental properties and potential capital gains, typically traded on stock exchanges.
  • Average Price: Share prices vary, accessible with relatively small amounts.
  • Pros: Asset-backed, income-generating, avoids Riba, provides exposure to real estate market without direct property ownership.
  • Cons: Market liquidity can be a factor, performance tied to real estate sector.
• Ethical Investment Funds Sharia-Compliant
  • Key Features: Professionally managed funds that invest in a diversified portfolio of Sharia-compliant stocks, sukuk Islamic bonds, and other ethical assets.
  • Average Price: Management fees Expense Ratio typically range from 0.5% to 2% annually of assets under management.
  • Pros: Diversification, professional management, adherence to Islamic principles, convenient for passive investors.
  • Cons: Fees can eat into returns, performance depends on fund manager expertise.
• Precious Metals Physical Gold and Silver
  • Key Features: Tangible assets that retain value, often used as a hedge against inflation and economic uncertainty, direct ownership.
  • Average Price: Varies based on market price. can be purchased in various forms coins, bars from dealers.
  • Pros: Halal, store of wealth, tangible asset, historically stable value.
  • Cons: No income generation, storage costs/risks, value can fluctuate in short term.
• Halal Crowdfunding Platforms
  • Key Features: Investing in ethical businesses or real estate projects that adhere to Sharia principles, often equity-based or profit-sharing models.
  • Average Price: Minimum investment varies by platform and project, often starting from a few hundred dollars.
  • Pros: Direct investment in real businesses, supports ethical enterprises, potential for high returns.
  • Cons: Less liquid, higher risk than diversified funds, requires thorough due diligence on projects.
• Savings Accounts Riba-Free
  • Key Features: Accounts offered by Islamic banks or financial institutions that do not involve interest, often based on profit-sharing Mudarabah or safekeeping Wadiah principles.
  • Average Price: No fees for basic accounts. profit-sharing rates vary.
  • Pros: Safe, principal protected in most cases, adheres to Islamic finance, liquid.
  • Cons: Returns may be lower than investments, not designed for aggressive growth.
• Islamic Microfinance Initiatives
  • Key Features: Investing in or contributing to funds that provide small, ethical loans or financing to entrepreneurs and small businesses in developing communities, often based on Qard Hasan benevolent loan or Murabaha cost-plus financing.
  • Average Price: Varies greatly based on contribution or investment model.
  • Pros: Socially responsible investing, direct impact, potential for moral and social reward, supports economic empowerment.
  • Cons: Higher risk due to nature of beneficiaries, often involves non-profit models so financial returns may be limited or absent.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Investico.com Review & Ethical Stance

Based on a thorough examination of Investico.com, it’s clear that the platform primarily facilitates trading in Contracts for Difference CFDs. While the website presents itself as a modern and user-friendly environment for traders, a reveals significant ethical and financial concerns, especially for individuals seeking to align their financial activities with Islamic principles.

The very nature of CFDs, combined with the structure of the platform, warrants a cautious and largely prohibitive stance.

The Underlying Mechanics of CFDs and Their Islamic Impermissibility

CFDs are complex financial instruments that allow traders to speculate on the price movement of an underlying asset without actually owning it. This “difference” in price is what’s traded.

For instance, if you believe the price of a stock will rise, you enter a “buy” CFD position.

If the price goes up, you profit from the difference. if it falls, you incur a loss.

• Gharar Excessive Uncertainty/Speculation: A fundamental issue with CFDs from an Islamic perspective is the high degree of Gharar. While some level of uncertainty is inherent in all markets, CFDs amplify this significantly. The transaction doesn’t involve the exchange of a tangible asset, but rather a bet on future price movements. This pure speculation, akin to gambling Maysir, is explicitly prohibited in Islam. The website itself states: “Contracts for difference ‘CFDs’ is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital.” This strong warning underscores the speculative nature.
• Riba Interest: Leverage is a core component of CFD trading, as highlighted by Investico.com offering “Leverage up to 1:400.” While not always explicitly called interest, the mechanism of leverage, especially when positions are held overnight, often involves financing charges that can be considered Riba. This is because traders essentially borrow funds to control a larger position, and fees for this borrowing can accrue over time, falling under the prohibited category of interest. Even without explicit overnight interest, the concept of profiting from borrowed funds purely through price differential, without genuine risk-sharing or asset ownership, can be problematic.
• Lack of Asset Ownership: In Islamic finance, transactions should ideally involve the exchange of real goods or services. With CFDs, there’s no transfer of ownership of the underlying asset. You don’t own the shares, the commodity, or the index. This divorces the financial transaction from real economic activity, which is discouraged. Islamic finance emphasizes productive investments that contribute to society, not purely speculative ones that extract value without tangible contribution.

Transparency and Regulatory Framework

Investico.com states that it is operated by Faraz Financial Services PTY Limited, regulated by the Financial Sector Conduct Authority of South Africa FSP license 45518. They also mention an affiliation with Value Bridge Single Member Investment Services SA, regulated by the Hellenic Capital Market Commission license 6/927/31-8-2021.

• Regulatory Compliance: While having regulatory oversight is a positive indicator for legitimacy in the conventional financial world, it doesn’t automatically imply ethical compliance from an Islamic viewpoint. These regulations primarily focus on consumer protection, market integrity, and preventing fraud, not on the underlying permissibility of the financial instruments themselves according to Sharia.
• Risk Disclosure: Investico.com provides a prominent “Risk warning” and a “Risk Disclosure document.” This level of transparency regarding the inherent risks is commendable from a regulatory standpoint. It clearly warns users that “Trading CFDs…may result in the loss of your entire balance.” This candidness, while serving to protect the platform legally, also serves as a critical indicator for potential users about the extreme volatility and potential for significant financial loss.

Investico.com Cons

While Investico.com presents itself as a modern trading platform, from an ethical and Islamic perspective, its fundamental offerings lead to significant drawbacks.

The cons heavily outweigh any perceived benefits, particularly for those prioritizing Sharia compliance and responsible wealth management.

Ethical Impermissibility and High Risk

The core business model of Investico.com, centered on Contracts for Difference CFDs, fundamentally conflicts with Islamic financial principles, rendering it largely impermissible. Passfab.com Review

• Inherent Speculation Gharar: As detailed, CFDs involve speculation on price movements without actual ownership of the underlying asset. This high degree of uncertainty is akin to gambling Maysir, which is strictly prohibited in Islam. The platform’s own “Risk warning” acknowledges the “speculative character” and “significant risks of loss of capital,” even “the loss of your entire balance.” This level of unbridled speculation is not aligned with Islamic finance, which encourages productive investments tied to real economic activity.
• Potential for Riba Interest: The use of leverage, a cornerstone of CFD trading with Investico.com offering “Leverage up to 1:400,” often involves hidden or explicit interest charges, especially for overnight positions. Even if direct interest is not charged, the concept of borrowing funds to amplify speculative gains without genuine risk-sharing can fall under the prohibition of Riba.
• Lack of Tangible Asset Ownership: Islamic transactions typically require the exchange of tangible assets or benefits. CFDs bypass this, focusing solely on price differentials. This disconnect from real economic value creation makes them problematic.
• Emotional and Psychological Toll: High-stakes speculative trading like CFDs can lead to immense stress, addiction, and significant financial ruin. The pressure to constantly monitor markets, make rapid decisions, and face potentially devastating losses can have severe psychological impacts, which are detrimental to well-being and productivity.

User Experience and Accessibility Considerations

Beyond the ethical concerns, certain practical aspects, while not directly “cons” in a conventional sense, highlight areas where the platform’s user experience might not be ideal or fully transparent for all users.

• Browser Compatibility Issues: The very first message on the homepage, “Your Internet Explorer browser is out of date. For better user experience, we suggest you to start using one of the following browsers: Google Chrome, Firefox Mozilla or Microsoft Edge,” immediately indicates potential for friction. While IE is largely outdated, a modern platform should ideally adapt gracefully or provide a more seamless redirection, rather than an explicit warning that might deter users.
• Regional Restrictions: Investico.com explicitly states: “Faraz Financial Services PTY Limited does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.” While necessary for regulatory compliance, this significantly limits the addressable market and might frustrate users from these regions who land on the site. A more prominent geo-blocking or immediate redirection for restricted regions would improve user experience.
• Complex Documentation Requirements: The various pop-ups detailing “Document Verification guidelines” for “Proof of Identity,” “Proof of Residence,” and “Credit Card” suggest a potentially cumbersome onboarding process. While standard for regulated financial services, the detail provided in the pop-ups e.g., “All four corners must be visible. Clear contrast between document and background. Maintain document proportions. Do not obscure any part of the document.” implies a strict and potentially frustrating document submission process, which could lead to rejections and delays.
• Minimum Deposit Threshold: A “Minimum Deposit $250” and “minimum deposit of $500 US for wire transfers” can be a barrier for entry for novice traders or those with limited capital. While not excessively high, it’s not as accessible as some micro-investment platforms.
• Limited Direct Financial Advice: The disclaimer “Faraz Financial Services PTY Limited does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Faraz Financial Services PTY Limited is not a financial adviser” means users are entirely on their own for investment decisions. While this is standard for execution-only brokers, it emphasizes the need for users to have significant financial literacy, which contradicts the platform’s “Education suite Designed to build traders’ confidence” if that confidence isn’t backed by solid, independent financial counsel.

Investico.com Alternatives

Given the ethical and financial concerns surrounding CFD trading, particularly from an Islamic perspective, it’s crucial to explore alternatives that align with Sharia principles while still offering avenues for wealth growth and financial security.

The focus should shift from speculative instruments to tangible assets, ethical investments, and responsible financial planning.

• Halal Stock Investments: Instead of betting on price movements, invest in the actual equity of Sharia-compliant companies. These are businesses that do not derive significant revenue from prohibited activities like alcohol, gambling, interest-based finance, or unethical entertainment.
  • Mechanism: Purchase shares of approved companies through a conventional brokerage or an Islamic brokerage firm.
  • Why it’s better: You become a part-owner of a real business, sharing in its profits and losses. This aligns with the concept of risk-sharing and productive investment.
  • Platforms: Look for brokerages offering Sharia-compliant screening services or use independent Sharia screening tools for publicly traded companies.
  • Examples: Halal Investing Platforms, Sharia Compliant ETFs
• Islamic Real Estate Investment Trusts REITs: These are companies that own, operate, or finance income-generating real estate. Islamic REITs focus on properties that are leased for permissible activities and structured to avoid interest-based financing.
  • Mechanism: Purchase shares of a Sharia-compliant REIT, similar to buying stocks.
  • Why it’s better: Provides exposure to the real estate market, which is a tangible asset, and generates income through rent. It avoids direct debt-based financing common in traditional real estate.
  • Examples: Islamic REITs, Real Estate Crowdfunding Halal
• Precious Metals Physical Gold and Silver: Investing in physical gold and silver is a time-tested method of wealth preservation and is permissible in Islam as a store of value.
  • Mechanism: Purchase physical gold or silver in the form of coins or bars from reputable dealers. Ensure immediate possession or a secure, allocated storage arrangement.
  • Why it’s better: Tangible assets, hedge against inflation, and recognized as a form of money in Islamic history. It avoids speculative paper trading.
  • Considerations: Storage, insurance, and purity are important factors.
  • Examples: Physical Gold Coins, Physical Silver Bars
• Ethical Mutual Funds / Exchange Traded Funds ETFs: Look for funds specifically labeled as “Sharia-compliant” or “Islamic” that invest in a diversified portfolio of permissible assets.
  • Mechanism: Invest in a fund managed by professionals who adhere to Sharia principles in their investment selection and management.
  • Why it’s better: Offers diversification, professional management, and ensures investments are in line with Islamic ethical guidelines without individual stock screening.
  • Examples: Sharia Compliant Mutual Funds, Ethical ETFs
• Halal Small Business Investments / Crowdfunding: Support ethical small businesses or startups directly through Sharia-compliant crowdfunding platforms that use equity-based or profit-sharing models.
  • Mechanism: Invest directly in a business, becoming a partner in its success.
  • Why it’s better: Fosters real economic growth, creates jobs, and allows for direct participation in productive enterprises, aligning with entrepreneurial spirit.
  • Considerations: Higher risk than diversified funds, requires thorough due diligence on the business model.
  • Examples: Halal Business Funding Platforms, Startup Equity Crowdfunding

How to Avoid Predatory Trading Platforms

Avoiding predatory or ethically problematic trading platforms goes beyond just looking for a “no-scam” label.

It involves understanding the underlying financial products and their alignment with your values, particularly Islamic ethical guidelines.

Understanding the Red Flags of Risky Platforms

Before committing any capital, it’s crucial to identify warning signs that a platform might be problematic, either due to its inherent offerings or its operational practices.

• Promises of High Returns with Low Risk: This is the oldest trick in the book. If a platform guarantees unrealistic returns or downplays significant risks, run the other way. The Investico.com website does a fair job of displaying a risk warning, which is a regulatory requirement, but the very nature of CFDs means high risk is unavoidable. Any platform that makes trading seem “simple” and “easy” as Investico.com does with “Online trading made simple” while dealing in complex instruments should be viewed with extreme skepticism.
• Focus on Speculative Instruments: As discussed, CFDs, binary options, and highly leveraged forex trading are inherently speculative and often involve elements of gambling Maysir and interest Riba. Platforms built around these instruments are fundamentally misaligned with ethical Islamic finance.
• Aggressive Marketing and Pressure Tactics: Be wary of platforms that use high-pressure sales calls, constant emails urging you to deposit more, or offer “bonuses” that come with restrictive withdrawal conditions. These tactics often signal a focus on getting your money in, rather than genuinely helping you grow wealth responsibly.
• Unclear or Hidden Fee Structures: While Investico.com mentions “Zero commissions” for some aspects, the full spectrum of costs, such as spreads, overnight financing charges, and withdrawal fees, might not be immediately transparent. Always dig deep into the terms and conditions for a complete understanding of all charges.
• Lack of Independent Reviews or Negative Feedback: Always search for independent reviews, particularly on reputable consumer protection sites or forums. Be mindful of fake positive reviews. While “investico.com review” and “investico reviews complaints” are popular search terms, ensure the sources are credible.
• Offshore or Ambiguous Regulation: While Investico.com states regulation by South African and Hellenic authorities, some platforms might claim vague “international” regulation or be based in jurisdictions with lax oversight. This makes recourse difficult if issues arise. Always verify regulatory licenses directly with the governing body.
• Difficulty in Withdrawing Funds: A common complaint against predatory platforms is the inability or extreme difficulty in withdrawing profits or even initial capital. This is a critical red flag. Look for clear, transparent withdrawal policies and user testimonials confirming smooth withdrawal processes.

Due Diligence: Your First Line of Defense

Beyond recognizing red flags, proactive research is your strongest defense against problematic platforms. Trademarkhawk.com Review

• Verify Regulation and Licensing: Don’t just take a platform’s word for it. Go to the website of the stated regulatory body e.g., Financial Sector Conduct Authority of South Africa, Hellenic Capital Market Commission and verify the license number and firm details. This ensures the platform is indeed authorized to operate.
• Read the Fine Print Terms & Conditions, Risk Disclosure: Yes, it’s tedious, but essential. The “Risk Disclosure” document on Investico.com is a critical read. Understand the withdrawal policies, fee structures, and how disputes are handled. Pay particular attention to clauses about leverage, margin calls, and how your capital is protected.
• Understand the Product, Not Just the Platform: Before you even think about signing up, thoroughly research the financial instrument being offered e.g., CFDs. Understand how it works, its inherent risks, and its ethical implications for you. Don’t rely solely on the platform’s simplified explanations.
• Start Small or Use a Demo Account: If you absolutely must explore such a platform though not recommended for CFDs, use their demo account function Investico.com offers a “Try Demo” to understand the mechanics without risking real capital. If you do deposit, start with the absolute minimum to test the deposit and withdrawal process.
• Seek Independent Financial Advice: For significant investments, consult with a qualified financial advisor who understands your personal circumstances and ethical requirements. Do not rely solely on the “education suite” provided by the trading platform, as their primary goal is to encourage trading on their platform.

Investico.com Pricing & Fees

Understanding the pricing and fee structure of any trading platform is paramount, even when the underlying financial product is ethically questionable.

For Investico.com, while the homepage mentions “Zero commissions” on some trades, a comprehensive understanding requires delving deeper into potential costs associated with CFD trading.

Stated and Implied Costs

Investico.com’s homepage highlights “Zero commissions” as a benefit.

However, this often implies that costs are recouped through other mechanisms common in CFD trading.

• Spreads: The primary way CFD brokers make money when they advertise “zero commissions” is through the “spread.” This is the difference between the bid buy price and the ask sell price of an asset. When you open a trade, you immediately start at a slight loss equal to the spread. The wider the spread, the more expensive it is to enter and exit trades. While not explicitly detailed on the main homepage, spreads are a universal component of CFD trading.
• Overnight Financing Fees Swaps: If you hold a CFD position open overnight, you are typically charged an “overnight financing fee” or “swap fee.” This is essentially an interest charge for the leveraged portion of your trade. For example, if Investico.com offers “Leverage up to 1:400,” holding a large position funded by leverage will incur these daily fees. These fees can accumulate significantly over time, eroding profits or increasing losses, and are a direct form of Riba interest from an Islamic perspective. The website does not explicitly detail these on the main page, but they are an industry standard for CFDs.
• Deposit and Withdrawal Fees: While not explicitly mentioned on the main page, some platforms charge fees for depositing funds e.g., via specific payment methods like wire transfers, where Investico.com notes a “$500 US minimum deposit” or for withdrawals. It’s crucial to check their detailed terms and conditions or FAQ for any hidden fees associated with these transactions. The pop-up for credit card transactions mentions, “You will be charged by Investico.com. This charge will appear on your statement as www.investico.com,” implying a direct charge, but the full fee structure isn’t transparent here.
• Inactivity Fees: Some brokers charge a fee if an account remains inactive for a prolonged period e.g., 3-6 months without any trading activity. This incentivizes continuous trading.
• Currency Conversion Fees: If you deposit in a currency different from your account’s base currency, or trade in assets denominated in other currencies, you might incur conversion fees.

Economic Implications for Traders

The fee structure, particularly spreads and overnight financing charges, significantly impacts a trader’s profitability, especially for high-frequency or long-term CFD strategies.

• Erosion of Small Profits: Even small spreads can eat into potential profits, particularly for scalpers or day traders making numerous quick trades.
• Compounding Losses with Leverage: Overnight financing fees, when combined with high leverage, can quickly compound losses, especially if a position moves against the trader. This accelerates the risk of losing the “entire balance,” as highlighted in Investico.com’s risk warning.
• Hidden Costs: The lack of explicit breakdown of all potential fees on the main landing page, beyond “Zero commissions,” can lead to unpleasant surprises for new traders who aren’t familiar with the intricacies of CFD pricing.

For those adhering to Islamic financial principles, the existence of overnight financing fees Riba and the inherent speculative nature of CFDs Gharar and Maysir render any potential “zero commission” benefit irrelevant, as the product itself is problematic.

The financial implications are not just about cost, but about engaging in transactions that are ethically impermissible.

How to Cancel Investico.com Subscription / Account

Given the significant ethical concerns and high-risk nature of CFD trading, particularly from an Islamic perspective, canceling an Investico.com account or subscription would be a prudent step for anyone seeking to align their financial activities with ethical principles. Toysnowman.com Review

While specific steps for cancellation aren’t prominently displayed on the homepage, based on standard financial platform practices, here’s how one would typically proceed.

General Steps for Account Cancellation

Financial service platforms like Investico.com, being regulated entities, usually have a structured process for account closure.

This often involves verification of identity and ensuring no outstanding financial obligations.

• 1. Access Your Account: Log in to your Investico.com account. Look for sections like “My Profile,” “Account Settings,” “Settings,” or “Support.”
• 2. Locate Account Closure Option: Within these sections, there might be a direct “Close Account” or “Deactivate Account” button. If not, proceed to the next step.
• 3. Contact Customer Support: This is the most common and often required method for financial account closure.
  • Email: Send a formal email to their customer service, which is listed as “”. Clearly state your intention to close your account, provide your account number, full name, and any other identifying information they might require for verification.
  • Live Chat: The website prominently features a “Chat Now” option. This can be a quicker way to initiate the process and get direct instructions. Be prepared to answer security questions.
  • Phone: Call their customer service number: +27-218797998. This allows for direct conversation and clarification.
• 4. Withdraw All Funds: Before attempting to close your account, ensure you have withdrawn all available funds. Most platforms require a zero balance before closure. Be aware of any minimum withdrawal amounts or associated fees. The website shows a “Payment methods” section where you can fund your account, and presumably withdraw.
• 5. Confirm No Open Positions: If you have any open CFD trades, you will need to close them before your account can be terminated. This will crystallize any profits or losses.
• 6. Acknowledge Any Outstanding Obligations: Check if there are any pending fees, negative balances due to margin calls, or other obligations. These would typically need to be settled before closure.
• 7. Request Written Confirmation: After initiating the closure, request written confirmation from Investico.com that your account has been successfully closed. This serves as important documentation.
• 8. Unsubscribe from Marketing Communications: While they mention “Allow operational emails” even if you opt-out, ensure you unsubscribe from all optional marketing emails and SMS by checking your subscription settings.

Important Considerations for Closure

• Timeframe: Account closures are not always immediate. It might take a few business days or even weeks for the process to be completed due to internal procedures and regulatory requirements.
• Regulatory Data Retention: Even after your account is closed, regulated financial firms are required to retain your data for a certain period for compliance purposes e.g., anti-money laundering, record-keeping.
• Ethical Motivation: For those seeking to align their finances with Islamic principles, canceling an account with a CFD broker like Investico.com is a step towards purifying one’s earnings and investments from speculative and interest-based transactions. It emphasizes the importance of avoiding Haram forbidden earnings and seeking Halal alternatives.

How to Cancel Investico.com Free Trial / Demo Account

Investico.com offers a “Try Demo” account, which serves as a simulated environment for traders to practice and test strategies without risking real capital.

While not a “subscription” in the traditional sense that incurs recurring fees, canceling or simply discontinuing use of a demo account is straightforward.

The primary reason for “canceling” a demo account is usually to transition to a live account, or simply to discontinue interaction with the platform altogether if one determines the underlying product CFDs is not suitable.

Understanding the Demo Account

The demo account is a valuable tool for understanding the platform’s functionality and the mechanics of CFD trading without financial risk.

Investico.com states: “Demo account Allows you to practice in a simulated environment, to gain trading experience and test out your trading techniques risk-free.”

• No Financial Obligation: A demo account typically carries no financial commitment. You don’t sign up for recurring payments, and there are no fees associated with its use.
• Simulated Funds: The funds in a demo account are virtual. You cannot withdraw them, nor can you lose real money.
• Purpose: Its main purpose is for learning and familiarization.

Steps to “Cancel” or Discontinue a Demo Account

Given that a demo account doesn’t involve financial transactions or subscriptions, there isn’t a formal “cancellation” process in the same way as a paid subscription or live account. Caitlyn.store Review

• 1. Simply Stop Using It: The easiest way to “cancel” a demo account is simply to stop logging in and using it. Since no real money is involved and there are no recurring fees, disengagement is usually sufficient.
• 2. Convert to Live Account if desired: If, after using the demo, you decide to engage in live trading which, as discussed, is ethically problematic for CFDs, Investico.com facilitates this. The prompt “Dear ${UserName}, This action is not available for a demo account. Switch to your live account, add funds and start trading.” indicates a direct path to transition. This is the intended “next step” from the platform’s perspective.
• 3. Request Deletion Optional: If you wish to have your data completely removed, or simply want to formally “close” the demo account, you can contact Investico.com’s customer support.
  • Email: Send an email to explaining that you wish to have your demo account and any associated data removed from their system. Provide your registered email address and any other details that might help them identify your demo account.
  • Live Chat: Use the “Chat Now” feature to make this request.
  • Phone: Call +27-218797998 to verbally request deletion.
• 4. Unsubscribe from Communications: Even if you stop using the demo account, you might continue to receive marketing emails or SMS messages. Go into your profile settings e.g., “My Profile” > “Subscription” and opt out of marketing communications. The platform notes, “In case you’ve chosen to opt-out from all options above, you’ll still receive transactional and other mandatory emails,” indicating that some operational emails might persist.

Ethical Reflection After Demo Use

Using a demo account can be beneficial for understanding the mechanics of financial markets.

However, for CFDs specifically, even a risk-free demo should lead to a deeper appreciation of their speculative nature.

From an Islamic viewpoint, if the demo account reinforces the understanding that CFDs involve Gharar and Riba, the responsible conclusion is to avoid transitioning to a live account and instead seek out Halal investment alternatives.

The “cancellation” of the demo account then becomes a symbolic step towards making financially ethical choices.

FAQ

What is Investico.com?

Investico.com is an online trading platform operated by Faraz Financial Services PTY Limited, offering Contracts for Difference CFDs across various financial assets like commodities, stocks, and indices.

It provides a platform for speculative trading with leverage.

Is Investico.com a legitimate company?

Yes, Investico.com is operated by Faraz Financial Services PTY Limited, which is authorized and regulated by the Financial Sector Conduct Authority of South Africa FSP license number 45518. They also have an affiliation with Value Bridge Single Member Investment Services SA, regulated by the Hellenic Capital Market Commission.

Is Investico.com permissible in Islam?

No, Investico.com, due to its primary offering of Contracts for Difference CFDs and the use of high leverage, is generally not permissible in Islam.

CFDs involve excessive speculation Gharar, often include elements of interest Riba through overnight financing fees, and lack tangible asset ownership, all of which are contrary to Islamic financial principles. Retailskip.com Review

What are the main risks of trading with Investico.com?

The main risks, as highlighted by Investico.com’s own risk warning, include significant loss of capital, the potential to lose your entire balance, and the speculative nature of CFDs. Leverage can amplify both gains and losses.

What is the minimum deposit required by Investico.com?

Investico.com requires a minimum deposit of $250 to open a live trading account.

For wire transfers, the minimum deposit is $500 US.

Does Investico.com offer a demo account?

Yes, Investico.com offers a free demo account that allows users to practice trading in a simulated environment using virtual funds, enabling them to gain experience and test strategies risk-free.

How can I contact Investico.com customer support?

You can contact Investico.com customer support via email at , through their live chat feature available on the website, or by phone at +27-218797998.

What assets can I trade on Investico.com?

Investico.com offers trading in over 300 CFD assets, including Commodities, Stocks, Indices, and potentially others, allowing users to speculate on price movements across multiple markets.

Does Investico.com provide financial advice?

No, Investico.com explicitly states that Faraz Financial Services PTY Limited does not issue advice, recommendations, or opinions in relation to acquiring, holding, or disposing of any financial product. They are not a financial adviser.

Are there regional restrictions for using Investico.com?

Yes, Faraz Financial Services PTY Limited does not offer services within the European Economic Area EEA and certain other jurisdictions such as the USA, British Columbia, Canada, and some other regions.

What is leverage on Investico.com?

Leverage on Investico.com is offered up to 1:400, meaning for every $1 of your capital, you can control a position worth $400. While this can amplify profits, it significantly increases the risk of substantial losses, including losing your entire invested capital.

How do I cancel my Investico.com account?

To cancel your Investico.com account, you typically need to log in, withdraw all funds, close any open positions, and then contact customer support via email, live chat, or phone to formally request account closure. Swyftx.com Review

It’s advisable to request written confirmation of closure.

How do I cancel my Investico.com free trial or demo account?

You can “cancel” a free trial or demo account by simply ceasing to use it, as there are no financial obligations or recurring fees.

If you wish to have your data removed, you can contact customer support via email or live chat to request deletion.

What are the fees associated with Investico.com?

Investico.com advertises “Zero commissions” on some trades.

However, like most CFD brokers, they likely charge through spreads the difference between bid and ask prices and overnight financing fees swaps for positions held open overnight, which are essentially interest charges.

Other potential fees may include deposit/withdrawal fees or inactivity fees.

What are some ethical alternatives to Investico.com for investment?

Ethical alternatives to Investico.com that align with Islamic principles include investing in Halal stock portfolios, Islamic Real Estate Investment Trusts REITs, physical gold and silver, Sharia-compliant mutual funds/ETFs, and participating in Halal crowdfunding initiatives for ethical businesses.

Does Investico.com offer educational resources?

Yes, Investico.com offers an “Education suite” designed to build traders’ confidence, providing resources and tools for all levels.

This includes information on technical analysis and fundamental analysis, and the availability of a demo account.

Why is CFD trading considered problematic in Islam?

CFD trading is considered problematic in Islam because it involves excessive speculation Gharar, can involve interest Riba through leverage and overnight fees, and lacks the transfer of tangible asset ownership, which are all prohibited in Islamic finance. Lifelinescreening.com Review

What should I do if I have a complaint about Investico.com?

If you have a complaint, you should first contact Investico.com’s customer service directly via their listed email or phone number.

If the issue is not resolved, you may consider escalating it to the relevant regulatory bodies mentioned on their website, such as the Financial Sector Conduct Authority of South Africa.

Can I deposit funds into Investico.com using a credit card?

Yes, Investico.com allows funding via credit card, though they note that transactions can be charged in EUR or other currencies depending on the payment service provider.

They also mention that if a transaction is declined, you can get instant help from their customer support.

What is the purpose of document verification on Investico.com?

Document verification, which includes submitting proof of identity and residence, is a standard regulatory requirement for financial service providers like Investico.com.

It is necessary for compliance with anti-money laundering AML and know-your-customer KYC regulations to ensure the legitimacy of accounts and prevent financial crime.