This review of Pennywise Investments proves that the site, whose domain can be found at pennywiseinvestments.com.au is a big scam. The site is peddling a number of investment services ranging from retirement planning, wealth creation, debt management and so much more. It appears that the site is basically targeting high networth clients who are concerned about their financial future.

In case you already lost money to this scam or you are planning to enter active trading and investing, these recommendations can help you get started with less heatache. 

Pennywise Investments Review: Why they are not legit

The kind of financial services offered by Pennywise Investments are often regulated by the local financial oversight authority, in this case, the ASIC. Unfortunately, Pennywise Investments is not licensed by ASIC or any other financial regulator. At the same time, the scam continues to actively target victims from across the globe and not just in Australia only.

The second tell tale sign to look for is user reviews. A serious financial service will always get feedback from active clients who are either enjoying the service or are critisizing the company. In the case of Pennywise Investments, we don’t have any feedback anywhere.

The company does not even have any social media accounts, and the owners are very much anonymous. This should make anyone question their authenticity.

The only thing that we have on their website is contact info like phoen number and email. The website is also poorly designed as the graphics and text are an eyesore to say the least.

They couldn’t try to up their game like some of these popular scams whose websites are very convincing, i.e Markets24, Hantec Markets and TMGM.

They claim that they are not connected with Pennywise Wealth Management scam

Pennywise Wealth Management is now a defunct website — I guess after stealing investors funds and having had enough in their bank accounts to fund their illegal lifestyle.

Even if these two scams are related, it is hard to tell. But one thing we should all know is that they are a scam whether this website admits or denies.

The Conclusion

It’s not worth sending your money down the drains when signs are obvious that you are going to lose money. A scam like this one will typically ask for a lot of money. They are masters of unsolicited phone calls where they convince the victim to send them money only to disappear afterwards. They will continue to entice you to even send them more money. They only disappear when they sense that they’ve milked the victim dry or the victim has discovered that he was being cheated.

For that reason, Pennywise Investments is not to be trusted. Avoid.