As a trader immersed in foreign exchange markets, you must be conscious of the emerging number of fraudulent brokers capitalizing on the increased popularity of forex trading. That being said, the following VTindex review provides meaningful information about the VTindex broker scam, enabling you to prevent being defrauded by this and similar financial swindlers.
Briefly, this shady brokerage firm renders service based on unproven statements and deception. It claims to be a globally regulated broker with offices worldwide, but no evidence to support it. Likewise, it promises the availability of MetaTrader 4, again, a dead end. There are more fabrications and falsehoods coming from this broker. Please continue reading to find out about them all.
Also, we recommend you not to invest in the fraudulent brokers RXKCapital, AllCryptoCapital and Networkfsi.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Minimum Deposit:||500 USD|
|Cryptocurrencies:||Yes (Bitcoin, Dogecoin, Tether)|
|Types of Assets:||Forex, Crypto, Metals, Indices, Energy, Equities, ETFs|
|Free Demo Account:||No|
|Accepts US clients:||No|
The Truth About VTindex Broker Regulation
Let’s begin with the statement that VTindex is among the top five largest brokers in the world with seats in the UK, UAE, Malaysia, SVG, and Hong Kong and that is authorized by several financial markets regulators. This statement is an outrageous lie easily refuted.
First, VTindex is not anywhere near being an internationally recognized company. It has a notorious reputation for being a trading scam. Then, checking companies’ registers of the above-mentioned five countries produces no information about VTindex; meaning, it is a virtually anonymous and unregistered entity. Lastly, as in the previous investigation, inspecting the database of relevant supervision authorities again provides nothing on VTindex; implying, this brokerage firm operates unlicensed and unregulated.
After all is said and done, VTindex is the worst kind of broker scam, it is full of empty talk to lure traders into investing and rip them off.
Why Is Trading On a Licensed Broker’s Platform Preferable?
When comparing illegal brokers to their counterparts, you get many advantages opposite to troubles. Your funds’ safety, financial welfare, and success depend on whether a brokerage company is licensed or unlicensed.
Legitimate companies ensure the security of your money by decreasing trading risks. This involves assigning negative balance protection and segregating the funds. The former means that you can’t lose more than deposited while the latter refers to keeping your money separated from the broker’s capital. So, a broker’s insolvency won’t impact you.
Even if a legit broker ceases trading, you are covered by a compensation scheme. This is especially for brokerage firms accredited by first-class supervision authorities such as FCA, BaFin, and ASIC. Thus, in that case, FCA indemnifies up to 85,000 GBP.
There are even more benefits to trading with authorized forex providers, including propitious trading conditions, state-of-the-art technology, plenty of trading instruments, many educational resources, and constant customer support.
So Is VTindex a Decent Broker or a Scam?
VTindex holds no valid license or regulations. It fabricates everything, from being an internationally established company with offices in five countries and licensed under several financial authorities to providing a favorable trading environment. It is nothing more than a dishonest scam broker.
VTindex Offers a MetaTrader Platform 4 – Is The Platform Available?
One of many misleading pieces of information coming from this unscrupulous broker is the provision of MetaTrader 4. By doing so, VTindex attempts to attract people’s attention by presenting itself as a leading brokerage service. Because only top-notch companies provide advanced trading software like MT4, MT5, cTrader, and Sirix, to name a few.
To recap, VTindex doesn’t offer MT4 or any useful trading platform. For that, you should go with credible forex providers and enjoy cutting-edge tools like social trading, expert advisors, and stop loss.
What Do We Know About VTindex Account Types?
Regarding trading accounts offered by VTindex, there are the following ones
Each account shares the same amount of the required deposit, which is 500 USD. Speaking of which is an avoidable risk since you can start trading for less than 10 USD with some renowned trading corporations.
As regards trading instruments, allegedly, you can trade with
- Forex: EUR/GBP, USD/CAD, GBP/AUD
- Metals: gold, silver, palladium
- Indices: FTSE100, S&P500, NASDAQ
- Stocks: Apple, Amazon, Google
- Commodities: corn, cotton, rice
- Energies: crude oil, natural gas, gasoline
- Cryptocurrencies: Tether, Ethereum, Bitcoin.
Can a Trader Use a Demo Account?
When it comes to a demo account, it allows you to evaluate a broker’s trading environment and platforms. It is also excellent for newbies, enabling them to experience real-life trading. In addition, advanced traders can use the demo account to build strategies and hone their skills. Concerning a demo account option at VTindex, this self-proclaimed most advanced online broker on the world market doesn’t have it.
Also remember the names of the Coin Matrix, Gamma Capitals and FTM Trade trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Deposits & Withdrawals
According to the VTindex website, you can use more than ten methods for depositing and withdrawing, including credit and debit cards, wire transfers, e-wallets (Payeer, Perfect Money, Neteller), and Bitcoins. Actually, this bogus brokerage firm accepts only digital cryptocurrencies for funding, but more about this later. With reference to withdrawals, they are processed within ten minutes. No matter what this phony broker claims, there are no withdrawal guarantees with fraudsters. Therefore, pay no attention to its assurance.
What Is Known About VTindex’s Trading Conditions?
In relation to VTindex trading conditions, they are as real as this fake broker. For example, VTindex has a 1:300 leverage ratio—meaning, for one invested dollar, you can gain three hundred dollars. Undoubtedly, leverage is a great tool for making profits but is very risky at the same time. That is why it is restricted in many jurisdictions (for retail traders 1:30 in the UK). Additionally, every VTindex account has spreads of 2.1 pips and a 70% margin loan. Keep in mind that it manipulates its trading environment to entice you with auspicious terms of exchange.
Why Do Scammers Prefer Cryptocurrencies?
As we have introduced that fraudulent brokers like this one only support crypto payments for deposits, let’s see why. First, cryptocurrencies are very popular nowadays and many international corporations use them. However, they also accept other means of payment that are secure and reversible.
Thus, when a broker insists on making deposits in Bitcoin or USDT, it raises a red flag. It is one of the dirty tricks employed by scammers because crypto wallets are difficult to trace and reverse. In this case, victims can’t get their money back unless they turn to cybersecurity experts for help.
Scammed by VTindex Broker? – Let Us Hear Your Story
While on the subject of scamming, if you have fallen for the pack of lies of this con artist, you should act immediately. Inform respective authorities so that they can put this shady company on the warning list. Likewise, leave negative VTindex reviews on the web to help other traders avoid this investment scam. Lastly, don’t feel embarrassed since scams can happen to anyone.
But What Is A Chargeback?
If you wonder if it is possible to retrieve your money when defrauded, it is possible with a chargeback. VISA and MasterCard allow cashback within 540 days of the incident. Banks also enable the cancellation of transactions. However, it can be done until you confirm a transfer. As said, crypto payments can be charged back, but you must get professional help. With respect to this, get in touch with our company for assistance with chargebacks.