The parent company of Invest.com, GS Sharestocks Ltd. announced on April 9, that it was renouncing its CySEC-provided license, effectively terminating brokerage operations and taking the first steps towards completely shuttering the online operation by July 31. What will become of Invest.com after the shutdown though? The domain name itself is obviously worth several million dollars.
GS Sharestocks Ltd, the corporate anchor of online trading brands Invest.com and GetStocks, has apparently decided that chasing profits in the regulated broker business was no longer worth its while. The company put forth an announcement on April 9, regarding the immediate cessation of its regulated trading services.
Client deposits are no longer accepted and traders have been rendered unable to open new positions. Furthermore, traders are asked to close their open positions and to begin pondering ways to withdraw the contents of their real money accounts in a timely manner.
As early as April 23, all activity at the brokerage will be suspended, with the exception of withdrawals. Clients with funds in their accounts will be able to withdraw their monies until July 31, when the brokerage will be shuttered for good and the remaining funds will be transferred to a third party fiduciary. The same roadmap is valid for copy-trading brand GetStocks.
Since last summer, GS Sharestocks Ltd. has been thinning the regulated broker herd, by acquiring Anyoption.com, and eventually renouncing the CIF license under which it operated. That particular license belonged to Ouroboros Derivatives Trading Ltd.
Exactly what fate shall befall the Invest.com domain name, remains to be seen. It may simply be sold – as its value is estimated to be in the millions of dollars – or it may be re-used in a different venture.
The people behind GS Sharestocks Ltd have become involved with the crypto industry and they may indeed take their high-value domain name with them into that vertical. Invest.com’s founder, Ophir Gertner is the brains behind Smartlogic.io, a blockchain solution provider, while former COO Yossi Peretz runs Stox.com, another blockchain-focused operation.
Stox.com is especially interesting, since it looks like the perfect match for a re-invented , blockchain-focused Invest.com, from the perspective of integration.
The closing of Invest.com is yet another symbolic nail in the coffin of the online investment/trading industry. Under assault by ever more demanding regulatory requirements, more and more brokers find themselves driven to greener pastures these days.