DirectCO Invest is an unregulated crypto trading platform that has recently been blacklisted by the Financial Services and Markets Authority (FSMA), which is Belgium’s financial regulator. South African traders should take this warning seriously, as it came after numerous complaints received regarding DirectCO Invest’s crypto trading services. The FSMA claims their website is “suspicious”.
Before continuing with this review for South African traders, we would like to note that the DirectCO Invest website was found to be extremely vague, with limited information. This review is the most information we could gather regarding this crypto trading broker. As you can imagine, lack of transparency is a red flag for this broker.
Now, we could not find any information regarding the minimum deposit required to start trading with DirectCO Invest. This number is usually between $200 – $250 for most forex and crypto brokers, so we can only assume the same applies here.
Tip: For a much cheaper minimum deposit, trade with IQ Option – the best regulated broker for South African traders with a minimum deposit of only $10.
Unfortunately, we were also disappointed to discover that DirectCO Invest does not offer South African investors a demo account to practice and test out their platform.
Trading Platform & Assets
DirectCO Invest claims to be both a crypto trading platform and a crypto exchange, all in one. The broker focuses mainly on crypto assets, but they also offer 70 other CFDs to trade, which include:
- Crypto – Bitcoin Ethereum, Ripple, Litecoin etc.
- Forex – EUR/USD, GBP/JPY etc.
- Precious metals – gold, silver
The maximum leverage available is 1:3 and 1:2. This is low compared to the leverage offered by most forex and CFD brokers – which ranges around 1:30 – 1:100. Besides leverage, no other trading conditions were provided, such as spreads or minimum investment amount (lots). While DirectCO Invest claims to be “simple and transparent” no real information could be found on their website – instantly contradicting that bold statement.
South African traders will find all the above assets on the DirectCO Invest web-based platform. This is an oversimplified crypto trading platform that can only cater to complete beginners. It lacks all the advanced tools of the MetaTrader 4 platform or the IQ Option platform, which is definitely a disappointment. Usually, crypto brokers give South African traders the choice of a simple platform and MetaTrader 4 for more advanced traders. This is not the case here.
However, many investors prefer web traders, as they don’t require any installations or downloads.
DirectCO Invest also mentions a mobile app which is available for South African traders to download, so they can trade crypto and CFDs on-the-go. This is definitely convenient, as it doesn’t limit you to your PC or laptop. There is no further information regarding their mobile trader, but we assume it is available for both Android and Apple devices.
Now, the website also mentions that DirectCO Invest operates as a crypto exchange as well. This means South African users can buy and sell cryptocurrencies like Bitcoin and Ethereum straight from the DirectCO platform with ease through E-Coinstock. We are not sure whether this works or not, but it is vaguely stated on the site.
The DirectCO Invest customer support team is available via phone or the online contact form on their site. Surprisingly, there is no email address provided or even a live chat. The number given is not South African.
We were also disappointed to find no mention of the actual company operating DirectCO Invest.
Phone number: 442036709802
Deposit & Withdrawal Methods
South African traders can deposit with DirectCO Invest through the following methods:
- Credit Card (Visa, MasterCard)
- Bank Wire Transfer (SEPA, SWIFT)
- Crypto deposits
Unfortunately, we could not find any information regarding withdrawal methods or how long it takes for a withdrawal request to be processed.
DirectCO Invest Pros & Cons
We have summarized all the advantages and disadvantages of trading with with DirectCO Invest as a South African investor for you below.
- Variety of CFD assets (forex, crypto, indices, energy, metals)
- No regulation or license
- FSMA has issued warning against this broker
- Lack of transparency (no basic information on website)
- No MetaTrader 4
- No demo account
- Company information not available
Is DirectCO Invest a Scam?
We do not have sufficient evidence to call DirectCO Invest a scam, but we would not advise South African traders to invest any money with this crypto trading platform. The disadvantages found (listed above) are serious. This broker has no license or regulation and has been blacklisted by the FSMA. Moreover, their website lacks transparency and they provide no information on the company behind DirectCO Invest.
Instead, we suggest trading with a regulated and licensed broker, like IQ Option, that has a free demo account and only $10 minimum deposit.
Between 74-89 % of retail investor accounts lose money when trading CFDs.
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