SecondInvestment is an investment program which claims to provide traders with the tools that “until recently only bankers and financial executives could access.” They promise to show their clients how to gather and analyze information that will enable them to generate profits from their investment. Their website, secondinvestment.com, is not too trust-inspiring and apparently they are very popular in the UK and Switzerland. We’ve also been asked about them a lot lately. Therefore, we decided to write a Second Investment objective review to try and determine whether this is a legit trading opportunity or a scam.
Who is Behind Second Investment?
The team allegedly includes “former high-level financial experts, successful floor trading veterans, and some of the most highly-skilled analytic minds in the financial sector.” We couldn’t find a name of a company in the Abous Us page, however this is their advertised contact information:
Address: 24 Percy Street, London, UK. Now, I haven’t been in London for quite a few years now, but at least according to Google Map, it seems that Percy Street ends at 20 Percy St.
Telephone: +44 20 8068 4649
The support team supposedly works on Monday through Friday. There’s also a contact form they can be reached through.
The domain SecondInvestment.com was created on August 2016, one year ago. It uses a domain privacy service to hide the identity of the owners of the site.
Eventually, we did find Second Investment’s company name in their Terms and Conditions. Trading Equity Ltd. is a company incorporated under the laws of Dominica and having its registered office in 3rd Fl. C&H Towers, Corner of Great Marlborough and Great George St., Roseau, Dominica 00152.
What do they offer?
Second Investment offers regular news feeds, signals and investment academy, and an investment platform.
The SI Trading Floor contains several sections, including a daily analysis, a weekly video, market signals and news.
Their Education Corner contains an Introduction to Financial Markets, Video Investment Tutorials, Analysis and Strategy Guides, a Finance Glossary and an eBook.
The platform is available for both Desktop and Mobile and is web-based. 200+ assets are available together with 20 adjustable technical indicators and a direct feed from data suppliers.
Deposits and Withdrawals
Accounts are available in the USD and EUR currencies. Deposit methods include credit cards (Visa and MasterCard) and wire transfer. The minimum deposit and withdrawal amount is $100. Like with any broker, you will need to submit identification documents in order to make a withdrawal. These may include a photo ID, proof of residency and of your method of payment.
How do they profit?
They claim to base their business model not on high fees, commissions and spreads, but on their clients’ success and that they are one of the “few financial services providers in the industry whose income is derived solely from the success of our clients!” Honestly, we find this very hard to believe since most binary options broker only make money when their traders lose. Besides what does it mean that their income comes from the success of their clients when there are no fees, commissions and spreads? It just doesn’t make sense…
At the time of writing, SecondInvestment.com had an Alexa global rank of 247,315. This indicates they are quite popular. More popular than ObjectiveBinaryOptions.com, unfortunately.
They seem to be getting between 20-50% of their traffic from Switzerland. Their other large sources of visitors are Singapore, UK, Netherlands and Sweden.
Apparently, most of their traffic comes from affiliate websites. Yes, they have an partners program that allows advertisers to earn commissions for referring clients.
SecondInvestment.com seems to be hidden from search engines.
SecondInvestment Review Conclusion
While we don’t have any solid proof that SecondInvestment is a scam broker, we have found some worrying signs it indeed might be a fraud. First of all, the website is error-ridden. It looks like it was done very unprofessionally. There are many missing pieces of information as well as spelling mistakes and even false claims. More importantly, the information about the company that owns the site is buried inside the very long terms and conditions page. And it’s not a UK company like claimed in the Contact and About us pages.
Now, we were able to find that SecondInvestment is offering managed accounts. Perhaps even in-house generated signals. You should be aware that due to the conflict of interest inherent in OTC trading platforms, you should never let the broker trade for you or accept any account management services and trading advice.
However, even if Second Investment is not a scam, we would recommend to avoid them for the simple reason they are not a regulated brokerage. Our experience is that most of the non-licensed brokers turn out to be scams. Nowadays, there are so many great brokers, there’s no reason to settle on anything but the best.
If you’re looking for a great trading opportunity or just a legitimate broker, we’d recommend checking out Michael Freeman’s manual signals community.
Please share your experience with Second Investment.