innovestx
Pros and Cons
Pros
- Variety of trading instruments including Forex and commodities
- Access to popular trading platforms MT4 and MT5
- Flexible account types for different trader profiles
- Low minimum deposit requirement of 50 THB
- Multiple deposit and withdrawal options available
Cons
- Unregulated broker with no oversight
- Limited product range, lacking stocks and cryptocurrencies
- Fees and commissions not clearly defined
- Withdrawal limits may hinder access to funds
- Customer support availability during business hours only
Basic Information
User Reviews
innovestx Overview
Innovestx, officially known as Innovative X Securities Co., Ltd, was founded in 2022 and is headquartered in Thailand. Operating for a period of 2-5 years, Innovestx currently lacks valid regulation, which presents potential risks for traders. This unregulated status should be a significant consideration for anyone looking to engage in trading with this broker, as it may affect the safety and security of trading activities.
Is innovestx Safe? Regulation Analysis
Regulatory Information
Innovestx is an unregulated broker, which means it is not overseen by any recognized financial authority. This lack of regulation poses significant risks for traders, as there are no established investor protection mechanisms in place. Engaging in trading with Innovestx may expose clients to higher vulnerabilities, including potential fraud and a lack of recourse in the event of disputes.
Is innovestx Regulated and How Are Client Funds Protected?
Trading Products and Services
What trading instruments does innovestx offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major currency pairs | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | N/A | N/A |
| Stocks | N/A | N/A |
| Cryptocurrencies | N/A | N/A |
Innovestx offers a selection of trading instruments across various asset categories, including Forex and commodities. The diversity of products provided caters to different types of traders, from beginners looking to explore the Forex market to professionals seeking opportunities in commodities. While the broker supports essential trading tools, it is crucial for traders to assess their individual strategies and risk appetite. The availability of multiple asset categories allows for potential portfolio diversification, enabling traders to adapt their approaches and enhance their trading strategies in a dynamic market environment.
Account Types and Trading Conditions
What Account Types and Fees Does innovestx Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Access to major currency pairs and commodities | Suitable for small-capital practice |
| Professional Account | Experienced traders | Potential for higher leverage and advanced trading options | May require trading volume qualifications |
| Demo Account | New traders | Practice trading without financial risk | Ideal for testing strategies and platform navigation |
Account Opening Process
To open an account with innovestx, traders will need to provide personal information, employment details, and financial information. This includes identity verification through an identification document and proof of address. The account structure is flexible, allowing for potential upgrades to a professional account as trading experience and volume increase.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | Varies | Standard spreads apply |
| Commodities (Gold, Oil) | Varies | Varies | Subject to market conditions |
| CFDs (Stocks, Indices) | N/A | N/A | Not available |
| Cryptocurrencies | N/A | N/A | Not available |
Other Fees
Additional costs may include deposit and withdrawal fees, which depend on the payment method chosen. There may also be inactivity fees for dormant accounts, platform usage fees if applicable, overnight interest (swap rates), and currency conversion fees for transactions involving different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does innovestx Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS, iOS, Android | 2FA, symbol lookup, multiple order types, price alerts | Demo accounts, VPS |
| Web Version | Any device with a web browser | Encrypted login, market search, one-click trading | N/A |
| Mobile App | iOS, Android | Biometric login, push notifications, technical indicators | N/A |
Innovestx offers a range of trading platforms suited to different trader needs. The MT4/MT5 platforms are ideal for experienced traders, providing advanced tools and features such as multiple order types and demo accounts for practice. The web version is accessible from any device with a browser, allowing for quick transactions and market searches. The mobile app ensures traders can manage their accounts conveniently on the go, with secure logins and real-time alerts for market movements. Overall, the broker supports robust mobile trading, secure login options, fast order execution, and efficient search tools.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min 50, Max 20k/day | THB, USD |
| Credit/Debit Card | Instant | No platform fee | Min 50, Max 10k/day | THB, USD |
| E-wallet (e.g., Skrill, Neteller) | Instant | 1.5% e-wallet charge | Min 50, Max 15k/day | THB, USD |
Minimum Deposit
Innovestx requires a minimum deposit of 50 THB for all account types. This amount remains consistent across different payment methods and regions, making it accessible for both beginners and experienced traders.
How to Withdraw
- Log in to your Innovestx account.
- Navigate to the ‘Withdraw’ section in the account dashboard.
- Select your preferred withdrawal method (Bank Transfer, Credit/Debit Card, or E-wallet).
- Enter the amount you wish to withdraw, ensuring it adheres to the specified limits.
- Confirm your withdrawal request and review any applicable fees.
- Submit your request and wait for processing, which varies by method.
Customer Support
Innovestx Customer Support Overview
Support Channels
Innovestx provides multiple contact methods for customer support. Traders can reach out via:
- Email: Customers can send inquiries to Innovestx_contact@scb.co.th for assistance.
- Telephone: A dedicated support line is available at +66 2949 1999 for immediate assistance.
- Social Media: Innovestx maintains a presence on platforms like Facebook, allowing customers to connect and receive updates.
Service Availability
Customer support is available during business hours. While specific support hours are not detailed, it is recommended that traders contact support during standard office hours to ensure timely assistance. Multilingual support is not explicitly mentioned, so English may be the primary language of communication.
Frequently Asked Questions
Innovestx is an unregulated broker, meaning it is not overseen by any recognized financial authority. This lack of regulation poses significant risks for traders, as there are no established investor protection mechanisms in place. Therefore, clients should consider this factor seriously when deciding to trade with Innovestx.
Innovestx offers a selection of trading instruments across various asset categories, including Forex and commodities such as gold and oil. However, it does not currently provide access to stocks, indices, or cryptocurrencies.
To deposit funds, you can use bank transfers, credit/debit cards, or e-wallets. The minimum deposit is 50 THB. Withdrawals can also be made using these methods, with specific limits and processing times varying by method. It is essential to follow the withdrawal procedure outlined in your account dashboard.
You can reach Innovestx customer support via email at Innovestx_contact@scb.co.th or by telephone at +66 2949 1999. They also maintain a presence on social media platforms like Facebook. Customer support is available during business hours.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.