GreatInvest Review

About GreatInvest

GreatInvest, operating via domain greatinvest.net and related domains such as trade.greatinvest.xyz and user.greatinvest.xyz, has been officially designated as a “clone firm” by the United Kingdom Financial Conduct Authority (FCA), indicating it falsely impersonates a legitimate authorised firm. The FCA warning was published on 17 November 2022. The genuine firm being impersonated is Great Point Investments Limited, with Firm Reference Number (FRN) 606798; the FCA notice clearly states there is no connection between GreatInvest and this authorised entity. Handling funds with GreatInvest carries the risk of no access to the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS).

The France Autorité des Marchés Financiers (AMF) also issued a caution on 23 December 2022, identifying GreatInvest as unauthorized to provide forex services in France. This further confirms the firm’s lack of any regulatory oversight within major European jurisdictions.

Independent reviews corroborate the absence of any regulation. The ForexReview and ForexBrokerz evaluations highlight that GreatInvest claims to be based in Australia but lacks any license from the Australian Securities & Investments Commission (ASIC). No information is provided regarding trading platforms, account types, minimum deposit, spreads, commissions, or swaps. The broker is categorized as unregulated, offering leverage possibly up to 1:100, which exceeds regulatory limits in many jurisdictions and is unsupported by any credible documentation.

Pros and cons

Cons

• Unregulated and identified as a clone of an FCA-authorised firm.
• No evidence of regulation by ASIC, or any other financial authority.
• No transparency on trading conditions (minimum deposit, spreads, commissions, platforms, account types).
• Excessive leverage of 1:100 without regulatory justification.
• Warnings issued by both FCA and AMF indicating unauthorized status.