A Bad Review of Likewood-invest.com Scam Broker
Likewood-invest says they’re an online trading platform for Forex, Stocks, Commodities, Indices and other CFDs instruments. This broker wants to help improve your trading experience. Additionally, Likewood broker assures a dynamic, secure and transparent trading platform.
Truth is that Forex and CFDs brokers who make the above promises have increased in their numbers lately, and in our expert assessement of the Likewood-invest.com trading platform, we seek to find out if indeed it’s true that this broker is standing his ground in terms of what they’re telling the community. Or could this be another scam?
My investigations commenced with a quick test-run on this trading platform.
Likewood-invest General Information
| Company name | Likewood INC Limited |
| Website address | https://likewood-invest.com/ |
| Support email | support@likewood-invst.com |
| Physical address | 10 BLOOMSBURY WAY, LONDON WC1A 2SL, UNITED KINGDOM 604, TOWER A, NEW TRADE PLAZA, 6 ON PING STREET, SHATIN, N.T., HONG KONG |
| License | None |
| Trading platform | TradingView terminal |
| Assets | Forex and CFDs |
| Leverage | Up to 1:400 |
A review of Likewood-invest website and the client portal
The website of this broker is pretty decent. They’ve chosen to use an international typeface inpsired by tech giant IBM. This has blended very well with the dark background of the Likewood Invest website.
In addition to this, the broker’s website contains all the text and images that portray their message to the world. The message is brief but straight to the point. It takes one scroll on the homepage to find out all the account types that Likewood-Invest offers. The website actually gives the impression that this broker has the correct uptitude to give us what they’re promising.
The on-boarding process is just a 1 minute affair as the broker will ask for basic details like name, email, phone number and country.
The client portal is free from clutter. They call it “cash management” portal. It’s the place where I can see my account number, leverage, trade history and P&L statements. It also gives me a chance to deposit and withdraw as well as submit KYC.
It appears that Likewood Invest is very serious about KYC as they’ve put more emphasis about it in their terms and conditions.
To pass KYC verification, the company needed my passport photo, a utility bill and a picture of my credit card. Turns out that when requesting for a withdrawal, the broker will need you to re-submit these documents. I find it time wasting and unnecessary.
A thorough review of what Likewood-invest promises its traders
This is the ultimate test that I expect this broker to pass with flying colors. They said they’d improve our trading experience, and that their platform was dynamic, secure and transparent. Let’s put them to the test.
The account types
Only 3 account types are offered by Likewood-invest broker. They are:
- Silver
- Gold
- Platinum
All beginners start with Silver account because it carries the least deposit requirement with it. This is from 250 EUR. There’s no dedicated account manager nor analytical support.
But we get 200+ tradeable assets and a full set of trading tools.
Upgrading to the Gold account for 500 EUR gets us all the things that Silver account has. They also added a feature where you can request a “financial analyst” to create for you a trading strategy or a portfolio.
The platinum account type requires 1,000 EUR and it doesn’t have that much difference from the Silver one. The only additional feature here is getting access to “large corporate transactions”. The broker never defined what they mean by this.
Nevertheless, I did a quick perusal of their terms and conditions page and noticed a clause where Likewood-Invest said they are not providing financial advisory services.
By assisting with the creation of trading strategies and portfolio, they’re going against their terms of service.
How then would you trust a broker that says one thing and does another hence breaking their own ToS?
A quick overview of Likewood Invest trading platform
It’s a TradingView terminal coined as WebTrader. They offer it as online and downloadable versions. There’s the version for mobile trading as well.
It’s a pretty straight-forward trading platform. It comes with a set of analytical tools that traders can use to analyze the market before placing their orders. However, I could not use an expert advisor. There was no fundamental analysis tools either in form of news briefs. On the other hand, we get all of these things on the MetaTrader platform.
Also when I attempted to trade a few currency pairs, I noticed widening of spreads and slow order execution.
I don’t know how this agrees with Likewood-Invest’s philosophy of giving us a dynamic, secure and transparent trading platform.
A review of Likewood-invest support, education material and bonuses
The education material is basic and not helpful. I would consider it a glossary section where beginners can just learn common terminology and not the actual trading.
Support is offered through email. I didn’t see a live chat. I don’t consider email support to be as good since they took a while before answering my questions.
If they were providing live chat, I would have gotten one of their staff quickly on the line to solve my problems.
Beware of the bonus conditions…
Likewood-Invest is offering bonuses to traders. It’s not mandatory to accept a bonus but if you do, you will face difficulty in withdrawing profit.
The broker’s terms and conditions says accounts credited with a bonus will have to meet specific trading volume before they can cash out.
It won’t be possible to meet that volume. In fact, due to the poor trading conditions, you would deplete your deposit even before reaching half of the required volume.
Also, the terms and conditions for the bonus is somehow convoluted. The broker wants it like this so that you can enter their trap.
A review of the broker’s fees and commission
In the spirit of trying to find out how transparent this broker is, I sought to look at their fees and commission.
Unfortunately their ToS doesn’t address this. It only says we’re obligated to pay taxes and fees to this broker where necessary and that clients will not take offense against the company.
In other words, Likewood-invest is hiding their fees and levies. We don’t know how much they charge typical spreads for.
We don’t know about withdrawal fees. And we also don’t know how much “tax” we are supposed to pay and to whom we will be paying this tax to.
Deposits and withdrawals from the Likewood-Invest platform
The broker accepts all major Credit and Visa cards. In addition to this, bank transfer and e-Wallets are supported.
When you place a deposit however, Likewood-Invest.com requires that you also submit it alongside a “deposit declaration” form.
I consider this step unnecessary since your deposit is coming to the broker from your own name, hence there is no need to submit such a document to their support.
Remember they didn’t tell us about their fees but we suspect traders will incur huge fees and the so-called “taxes” will come to haunt traders when they want their money out.
Is Likewood-Invest a scam broker?
Yes, this broker could be a potential scam. They have two office locations: One in the UK and another in Hong Kong. Based on how they operate, we feel that they are quite risky to trade with. Here’s how we view it in terms of regulatory status.
Licensing status of the company
The about us page of the Likewood INC Limited website is vague. It is general and doesn’t address things like company license. If they are in the UK, they need an FCA license. I confirmed from the financial regulator that this broker doesn’t have authorization to provide his services in the United Kingdom.
I also wondered why there is no information about Likewood Inc Limited in UK companies house register. Seems they haven’t registered a company like this before.
In addition to this, CFDs trading is not allowed in Hong Kong. How is this broker operating in Hong Kong when its products are prohibited there?
It just seems as though this broker is lying about so many things. I would immediately rule out the possibility of Likewood INC Limited acquiring a Hong Kong financial license.
The Pros and Cons of this broker
Pros
- Nothing positive to say
Cons
- Unregulated broker: No license from a financial authority.
- Recent registration: Website came in March 2023 and this is considered a new website.
- Lacks transparency: They have refused to disclose their fees and so-called taxes.
- Anonymous broker: No identity behind Likewood Invest Broker.
- Misleading address: We could not verify their two addresses.
- Marketing trickery: They went to TrustPilot and started submitting fake reviews.
Quick FaQs about Likewood Invest broker
They are offering Forex and CFDs products. Remeber you cannot legally trade these instruments in US and Hong Kong.
Make use of the services of a chargeback facilitation company. 
If it is of a big concern, report this to your local enforcement. You should also block emails and phone calls coming from this broker or its associates. 
A summary of this review for Likewood Invest Broker
We come to the sad realization that all that Likewood Invest promises is just hot air. The broker is a scam because they fall under the category of unregulated and risky brokers to trade with. We doubt their physical address and given that ownership information has not been provided, we would think twice if faced with the option of trading with Likewood Invest. So just like that we abandoned our account with this broker.