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However, these tests are not as easy as they might sound like. If a company does not have a license, it means that the company is UNAUTHORISED and not fit for trading. In our case, if velocity trade is unregulated, then this raises the first red flag against the broker in this VelocityTradeFX review. A number of complaints have been found regarding the scam broker in the various online review sites. A low rating on several online platforms makes it clear that the broker has a negative reputation among the investors. The investors have accused them of being scam brokers and state how they have been victims of the VelocityTradeFX scam and lost all their money and efforts to them.
?s business, there is a chance that its activities may expand beyond that. Investors can also check the background, qualifications and any disciplinary history of investment advisors registered with IIROC by checking the free https://forex-review.net/ AdvisorReport. Problem with offshore brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
Leave a comment about VelocityTradeFX.
Please advise other people about Velocitytradefx.com , by leaving your observations below. For you to decide whether Velocitytradefx.com is a rip-off or genuine online site, we really should carefully examine Velocitytradefx. Finally, if you or someone close to you falls victim to a VeloCityTradeFX scam, let us know.
The team at MyChargeBack ? a specialist group dedicated to helping consumers recover funds lost online ? is available 24/7 and has helped consumers all over the world recoup millions of dollars. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances.
Read our VelocityTradeFx review to see if we recommend this broker for trading. Just to clear doubts, this is a velocitytradefx.com review. After taking a look at their website, it shows that they do not fall under any regulating agency. The regulation status of a broker is one of the most critical points while choosing the right broker. Here, this broker seems not to be regulated in its jurisdiction of operation and is indulged in scam activities.
With such lack of information and VelocityTradeFX being offshore, funds are not safe. Security of funds is a huge problem with offshore brokers. A red flag that we noticed is VelocityTradeFX is withholding vital information to users.
When you invest your money, you also invest your trust in the person managing your account. That is why it is often so difficult to come to terms with the fact that you were scammed, rather than merely having bad luck in your investments. Furthermore, certain individuals were offered to receive a ?bonus? for every deposit they make, not knowing that the fine print says ? you cannot withdraw your funds. Recently we received countless complaints about an online broker carrying the name ?VelocitytradeFX?. It is essential to leave a comment on VelocityTradeFX who scammed you and to denounce their actions.
The most common form of trading is currency trading, also known as forex trading. This is the act of buying one currency and selling another. Currencies are traded in pairs and these pairs are divided into three categories; Seniors, Minors and Exotics. Velocity Trade services clients and partners across the globe.
Watch VeloCityTradeFX Video Review Before Investing
After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don?t refund your money. If you do not know where to start, reach for us at and we will help you with this step as well. And they also work with websites that offer ?Automated trading software? which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
Basically, until you reach this minimum trading volume, you cannot even think of getting your money back. The company charges 0.1 pip for EUR/USD pair, indicating one of the two things. Either some hefty commissions remain undisclosed, or this firm is not interested in legitimate profits.
VelocitytradeFX Scam Review (www.velocitytradefx.com)
Your funds are not safe because if you end up getting scammed by VelocityTradeFX, then no compensation or intervention will be done by the relevant financial authority. The problem is that Velocity Trade does not have a license or authorization of any kind. This means that the broker cannot legally offer any type of financial service. You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. CEX.io – Cryptocurrency exchange that allows customers to buy crypto in minutes with a debit or credit card and withdraw it to a card or bank account in just a few clicks.
Usually when there is such a warning, it means there is a very high risk of losing money in the hands of the broker in question. The broker is claiming to have offices in North America, Europe, Australia, Asia and Africa. However, all of these continues have countries that are regulated the Forex and CFDs industry.
- A broker regardless of the country where he offers trading must have a regulated license.
- There are significant meanings to that, dealing with such a broker exposes you and the entire amount invested to substantial and unexpected risks.
- This is essential for a web page to possess; however, does not represent on its own that the internet site is reputable.
- In Europe each country has its own regulations, the same for Australia and the United States .
- Investors can also check the background, qualifications and any disciplinary history of investment advisors registered with IIROC by checking the freeAdvisorReport.
As we discover, Velocity Trade is not only regulated broker in one entity, but a global trading provider that holds multiple licenses from the world-recognized authorities regulation Forex industry. These registrations include FCA from the UK, Australian ASIC, Canadian IIROC, FMA from New Zealand and South Africa FSCA. You may also learn more why trade with ASIC-regulated brokers by the link. Velocity Trade provides quality trading conditions and transparent trading due to regulation and DMA access. There are various exchanges available for trading and various assets available to trade, trading technology is good and there are many platforms to choose from. Velocity Trade is a global brokerage firm that delivers its trading environment and opportunity through a range of global entities located in some of the main jurisdictions around the world. These entities include offering designed across Australia, Canada, South Africa, Oceania, the UK and Europe and more, which also may be slightly different due to regulatory requirements.
Our team of FX professionals provide clients with bespoke FX services to suit their unique business requirements. Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven?t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at but do not let your broker know they you read this article or that you are in contact with us.
Allscamreports can have advertising and affiliate relationships with some of the best and trusted recovery companies and may be compensated through them . All Scam Reports is committed to the fair handling of reviews and posts regardless of such relations. When you are looking for a trade, it is immensely important to identify a broker that is reliable and legit. But, there are some reasons why we have tagged this Review in our scam broker 2022 list of scam brokers. If you are thinking to invest with VelocityTradeFX but avoid the scams, read the VelocityTradeFX review and get to know about the scam activities of broker in detail.
Forex (Foreign Echange)
Always reach a dealer’s website through a reliable source like IIROC’s Dealers We Regulatepage or compare and confirm you are using the correct URL. Always reach a dealer’s website through a reliable source like IIROC’s Dealers We Regulate page or compare and confirm you are using the correct URL. While the broker was established back in 2007, it maintains powerful trading capability and ever since serves as a trusted partner to numerous traders and institutions. The execution model is performed through STP which gives independence to investment through technology and unparalleled performance. Some fake websites look nearly identical to the trusted institution?s website with the same logo, brand, and likeness; others copy legitimate websites but change the firm?s name and contact details.
If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here. Velocitytradefx.com was not found by any one of the services below to conduct or contain viruses. This variable all alone will not indicate Velocitytradefx.com is safe; rather only that such malware claims haven’t been recieved as of yet. Herein are the actions we needed to understand if Velocitytradefx reviews are genuine and if the web-site can be trusted or not.