Investing can be a confusing and intimidating process all at once, especially for those who are noobs to the world of finance. It’s hard to know who to trust and where to turn to for reliable information and advice. But it’s not just novices that struggle to get to grips with the realities of the financial world, even seasoned veterans can struggle to find the info that would most benefit them. Let’s say that you just start trading and it turns out that the broker you chose is not as bright-eyed and bushy-tailed as it appeared; where can you go to complain, get help, and warn others? On the other hand, let’s assume that someone tries a broker out and wants to sing their praises. Same problem. where can the average Joe trader go to let their voice be heard?
While there have been a few sites popping up over the years promising to deliver a platform for the lowly trader to say their say, many of them are nothing more than a punting ground filled with advertorials from paid users. If integrity can be bought, then there is no real integrity to speak of.
What about sites like Trustpilot and Hellopeter you might ask. While they serve a purpose, these sites are way too general to be of much value to those looking for insights into the financial markets. It would be great if they had some experts on each topic to keep an eye on things and make sure that only trusted and true comments remain, but that’s not the case. So anyone can get a group of friends together or a so-called “review seller” in the far East to do their bidding and rate their company to the moon. So, without well-informed and trustworthy moderation, it becomes far too easy to get a 5-star rating on a scammy company. What is required is a site dedicated to providing a clear and honest platform focused solely on traders, that will not stand for the tactics that plague other review sites.
According to Trustpilot’s 2022 transparency report, they removed over 2.7 million fake reviews in 2021, accounting for 5.8% of the total review left on the site during the year. This raises a lot of questions about how many fake reviews might slip through the cracks.
As mentioned, the alternatives are few and far between. One noteworthy alternative to the general review sites that actually helps give people quality information as well as gives them a platform to share experiences and get advice is Forex Peace Army. There are a few drawbacks though. Things like the outdated look and feel of their website, the fact that they focus on Forex, and a few other things make them less than ideal candidates to take on this challenge of being the bastion of the little guy in the current market.
Luckily there is a new kid on the block that is looking to take the world of trading reviews by storm.
investfox.com is a platform that allows users to leave reviews and ratings of investment companies while experts keep an eye on the reviews to make sure the paid shills are kept at arms-length. This fresh new startup first arrived on the scene in mid-2022 and has already proven itself to be a reliable and fresh voice for those looking to get top-notch information and speak their truth. While investfox also provides its own expert reviews and a jam-packed knowledge base to help educate users about different investment sectors, such as currency, stocks, bonds, and crypto, the main aim is to give traders a place to share their experiences.
investfox is revolutionizing the way we approach investing by offering a platform where the voices of everyday investors can be heard. No longer do we have to rely on the opinions of a select few experts or the often biased marketing materials put out by investment companies. With Investfox, we can get honest, unbiased reviews from real people who have actually used the products or services being reviewed. This helps to create a level of transparency and honesty in the investment industry that was previously lacking.
Calling investfox the IMDB (Internet Movie Database) of finance might seem strange as they focus on very different things, but in essence, they both provide a platform for users to leave reviews and ratings of products or services. While IMDB is geared towards movies and television shows, the impact that reviews and comments on that site have has much less of an impact than the investment-focused content on investfox. With investfox it all hinges on honesty and transparency, to make sure that users are given accurate information to help them make informed decisions about investments that could be life-altering. It is important that there are expert moderators keeping a close eye on what kind of reviews are popping up and making sure that some troll doesn’t show up with 10 fake accounts and just spam 5-star reviews on a broker that lacks even the most basic of regulations. In terms of consequence, this is vastly different from what might happen if someone does the same on IMDb, where you might end up seeing a great review and then 15 minutes into the flick realizing it is crap.
There is clearly a need for a site to fill this gap in the investment field and it looks like this new fintech startup will be it.
It is time to allow the little guy to have their voice heard. In the past, it was often only the larger, more established investment firms that had the resources and reach to get their message out to the masses and through the masses; well them and the scammy sites looking to crook people and run. But with investfox, anyone can leave a review or rating, regardless of their level of experience or the size of their investment portfolio. This has a touch of Web3 about it, with a level of democratization helping to ensure that all voices are heard in a fair and transparent manner.