LittInvest Review (2023)

Is LittInvest a scam or a legit broker?

LittInvest is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

LittInvest is a Forex and CFD broker, owned and operated by Orston Partners KFT registered in Budapest, Hungary. While being located and registered in Hungary, the broker would need to be licensed by the Hungarian Financial Supervisory Authority, although there are no such records in the regulator’s registry. In addition, the terms and conditions state that the broker is under the British jurisdiction, but again it doesn’t have a license from the UK’s regulator FCA. Moreover, LittInvest has been blacklisted by the FCA in the UK in May 2018:
“this firm is not authorized by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorization.”
Also, the International Financial Services Commission of Belize has issued a warning against LittInvest in February 2018:
“The entity listed below (LittInvest) is not licensed under the IFSC Act to provide, carry on, transact, or hold himself out as providing, carrying on, or transacting any of the international financial services as set out in the Schedule of the IFSC Act in or from within Belize.”

Conclusion

Considering the above said, this broker seems highly suspicious. There are many fraudulent firms out there and most of them are operating without a proper broker license. Investing in such companies is extremely risky and it is recommended to select among brokerages regulated by UK’s FCA, Australia’s ASIC or CySEC.