FAST INVEST review 2020
Check out our FAST INVEST review, and see if the platform is for you.
Review of FAST INVEST
We find the return compared to the safety favorable.
The FAST INVEST platform is very beginner-friendly.
FAST INVEST has made great safety measures.
Investors get an average return of 12.40%.
We Don’t Like
Summary: FAST INVEST is one of the most beginner-friendly P2P investing platforms on the market. They make it possible to start investing with only 1 euro. If you regret any investments, you can sell back the loans with the MoneyBack guarantee, whenever you want. The security on the platform is also quite good with loan originators having skin in the game, 2FA account login, buyback guarantee on loans and much more.
It’s completely free to use their platform
Last updated: April 2, 2020
FAST INVEST review 2020 – Is it safe?
The P2P investment platform FAST INVEST has over the past years gained a fair amount of interest from investors across Europe. As a result, we have decided to investigate how secure the platform really is.
Are you considering investing through the platform? Then we recommend that you read this FAST INVEST review in order to get a better feel for their company and P2P lending platform. We will, of course, make our best assessment of how secure the platform is, and maybe also share a tip or two with you.
Our FASTINVEST.com review ended up being a bit long. Therefore, you can advantageously use the navigation below to find exactly what you want to know more about. Of course, you can also read the review from one end to the other. However, before reading the review, we will quickly point out that the review is only an expression of our own opinion. Therefore, you should not consider anything in this FAST INVEST review as financial advice.
Learn about the following in our FAST INVEST review:
What is FAST INVEST?
FAST INVEST is a visionary European company that wants to make it easier for private investors to invest. Through the crowdlending branch of their company, they focus primarily on consumer-based loans with a loan duration of up to 2 years. However, they are working to add more diversification opportunities on an ongoing basis.
The loans offered on the platform are 100% pre-funded by loan originators and originate from European countries.
FAST INVEST is a UK-registered company. They have offices in both the UK and in Lithuania. Overall, FAST INVEST employs over 20 people, which among other things takes care of platform development, marketing and support.
The company and the platform launched in 2015, and have since then have achieved phenomenal growth within the FinTech area. Compared to other P2P lending platforms, FAST INVEST has a reasonably large investor base with over 30,000 registered investors.
With as little as the minimum investment of €1, you can join the platform and start investing.
What rate of return can you expect?
At FAST INVEST’s platform, it is possible to get a return of 9-13%, depending on which loans you choose to invest in. But since you can choose your desired risk/reward ratio in relation to the loans, it is very individual what the return on investment will end up being for each investor on the platform.
Who can invest via FAST INVEST?
Both individuals and companies can invest their money through FAST INVEST. Therefore, you can also use their platform if you want to invest through your business.
If you want to become an investor on FAST INVEST, you must meet these few requirements:
- Being at least 18 years old
- Having a valid email address
- Having a bank account in your name within the EU
- Being verified with a national identification card or passport
If you meet the requirements above, it is possible for you to invest via FAST INVEST. To get started investing, just do the following:
- Sign up as an investor
- Add funds to your investment account
- Choose a loan from the loan list and invest
In order to withdraw your funds, you will have to verify your identity with either a national identification card or your passport.
If you want to invest via a company, it is possible on the FAST INVEST platform. When you register a business, you must, of course, comply with the requirements of ordinary investors.
Would you like to sign up as an investor at FAST INVEST? Then press the button below. From here, you will be taken directly to their platform, where you can create your investment account. It only takes a few moments to sign up:
How safe is FAST INVEST?
The security of FAST INVEST primarily depends mainly on 4 things; how safe the investments are, how trustworthy the loan originators are, how secure the platform is and how solid the company is. In the following, we, therefore, take a look at these things one by one.
How safe are the investments?
As the first safety-related thing in this FAST INVEST P2P review, we have taken a look at how safe the investments you can make on the platform are. We will, therefore, take a look below on what measures the company has taken to secure the investments on their platform.
Loan originator risk
On FAST INVEST’s platform, you can find different loans to invest in. These loans come from several different loan originators. It is therefore important to know how safe these loan originators are.
Unfortunately, there is currently little information about the loan originators.
Due to a lack of transparency about the company’s loan originators, in our overall assessment of FAST INVEST, we have assumed that the loan originator risk is greater than it may actually be.
FAST INVEST has promised that there will be more transparency in this area in the future. At present, however, it is not changed, as it will require a re-negotiation with the respective loan originators. But when the existing contracts expire, new contracts are made with full disclosure.
Skin in the game
All loans at FAST INVEST are 100% pre-funded by the loan originators. In order to align loan originator and investor incentives, it is required that the loan originators retain at least a 5% stake in the loans. This means that if a loan originator has a €1,000 loan, they must keep at least €50 of the loan themselves. The rest of the loan can then be open for you to invest in.
This ensures that the loan originators have skin in the game, and thereby only underwrite good loans.
BuyBack and MoneyBack guarantee
All loans at FAST INVEST are protected with their BuyBack and MoneyBack guarantee.
The 3-day BuyBack guarantee is useful in case a borrower cannot repay his loan. If the loan is delayed for three or more days, the guarantee will cover the difference. The loans with the BuyBack guarantee are marked in the loan list.
The 1-day MoneyBack guarantee covers you if at some point you do not want your loans anymore. In that case, you can sell your loan back to FAST INVEST during one business day. The MoneyBack guarantee basically makes the need for a secondary market obsolete, which is why there doesn’t exit a FAST INVEST secondary market.
You can use the MoneyBack guarantee by choosing the loan you want to sell in the My Investment section. Here you just press sell. Then, during one business day, FAST INVEST will take over the loan and deposit funds into your account.
However, you must be aware that if you choose to sell your loan, then you will lose the interest you have earned so far on the loan. You will only get back your initial investment in the loan.
How secure is the platform?
As part of our FASTINVEST.com review, we have also taken a look at how secure the platform is itself. Here, FAST INVEST has made some great security measures.
One of the most important things, when you have an investment account online, is that it is properly protected. One does not want strangers to have access to their account, and thereby abuse one’s money.
Here two-factor authentication probably is the best way possible to protect you from extraneous login attempts to your account. Therefore, we took a look at whether it is possible to make use of it for account login, or not.
Here we found that it is possible to use two-factor authentication for account login on FAST INVEST.
In addition to two-factor authentication, a number of additional security measures have been taken on the platform.
Among other things, users can only send money to and from bank accounts in their own names.
In addition, FAST INVEST also has an automatic system that checks its users’ activity log. If situations arise with suspicious behavior then a specialized team of selected security experts in the company investigates the situation. If fraud is suspected, the account is deactivated.
Last but not least, customer service will also contact their users to verify transactions if a transaction exceeds a specific amount of money.
All in all, a lot of security measures have been made on the platform to protect you as an investor.
How solid is the company?
Over the years, there has been some controversy with FAST INVEST as a company. That’s why we, in this FAST INVEST review, have taken a look at how solid the company behind the platform really is.
First and foremost, it’s important to mention the fact that FAST INVEST LTD, which is registered in the UK, has been profitable over the past few years. Therefore, it’s unlikely that things like the company going into bankruptcy could damage investors anytime soon.
Through a conversation with a representative from the company, we also found that necessary measures had been set up to protect investors’ money in the event that FAST INVEST goes bankrupt. Here the company will distribute all loans and investments to appropriate authorities.
Therefore, investors at FAST INVEST should still receive the repayments from the loan originators since the mentioned situation does not free the borrower or the loan originator from the obligations to investors at FAST INVEST.
What you can do to invest safely
FAST INVEST has done a lot to make it safe for their investors to invest through their platform. Of course, there are some things that could be better. This is almost always the case with relatively new FinTech companies. But to make it more secure to invest via FAST INVEST, there are actually some things you can do yourself:
- Invest in loans with a buyback guarantee
- Ensure that you diversify between more than just a few loans
- Invest in loans from more than one loan originator
It is a great idea to invest in buyback guarantee loans. This way, you ensure that your funds are secured if a borrower cannot repay.
In addition, it is super important that you invest in more than just a few loans. Because even if you invest in a buyback guarantee loan, keep in mind that a guarantee is only as secure as the one behind it.
Last but not least, we also believe that it is a good idea to invest in loans from several loan originators. If something goes wrong with one of the loan originators, you do not have all your eggs in a basket.
It may seem like a lot to concentrate on at once. However, here you can advantageously use FAST INVEST’s auto-invest function. It makes it easy to invest more safely.
So how you use the platform actually influences how secure an investment experience you will get.
Set up a FAST INVEST auto-invest strategy
One of the best things about FAST INVEST is the possibility of setting up an auto-invest strategy. The auto investing function gives you the opportunity to invest in loans, without having to spend time cherry-picking loans on an ongoing basis.
Our advice: In our opinion, an investor’s time is better spent elsewhere than by selecting loans on a daily basis. Therefore, we recommend that you set up an auto-invest strategy.
If you want to use auto-invest, you can either choose one of FAST INVEST’s predefined strategies or make your very own. You can choose between beginner, professional, expert or custom portfolio.
Create an auto-invest strategy:
It is obviously easiest to choose one of the predefined strategies. But if you do, please be aware of how much you invest in a single loan via the strategy you choose. Whether your investment portfolio is small or large, it is important to diversify properly. So make sure to check if you will get enough loans in your portfolio, based on the strategy you choose.
You can also choose to make your very own investment strategy at FAST INVEST. In fact, we recommend that you do so. Just choose to make a Custom Portfolio. That way, you get full control of how you invest your money. Below you can see an overview of how to make your Custom Portfolio:
Whether you choose a predefined auto-invest strategy or make your own, it is clearly advised that you do one of those things. This way you can automatically reinvest the interest you receive on your account. Thus, you can best take advantage of the compound interest effect, and see your investments grow even faster.
Do you want to know more about FAST INVEST auto-invest? Then check out their website.
Conclusion of our FAST INVEST review
We believe that FAST INVEST is a reasonably secure platform for investing your money. However, there are some small things that could use some more transparency. For example, a P2P investment platform like FAST INVEST should disclose which loan originators you take over the loans, as is seen from, among others, Mintos and Grupeer. Unfortunately, they do not do so at the time of writing. Therefore, this also resulted in a reduction of our overall rating for FAST INVEST.
Besides the lack of transparency about who the loan originators are, we do not have much to put a finger on in this FAST INVEST P2P review. The platform is both user-friendly and the risk/reward level is pretty great. At the same time, you don’t have to invest manually, as you can simply use the great auto investment features on the platform.
Do you feel that the platform is for you after reading our FAST INVEST review? Then click on the button below to be taken directly to their website. Here you can open an investment account in order to start investing at FAST INVEST: