Everyone wants to have the best of everything and this also applies to the online broker you decide to use when you want to trade in the financial markets. The choices may be extensive, but this doesn’t mean that all of them can offer you the same quality of services you want. If that were the case, there wouldn’t be any competition. Most importantly, you will soon discover the existence of scam brokers as well because cybercriminals cannot resist the many opportunities to exploit people. Therefore, it is essential to go through this VestingFX review in case you want to opt for this particular company.
The easiest way to avoid becoming a victim is by doing your homework and this means checking its offerings in detail to determine if it is worth it. This will help you choose a brokerage that can offer you the services you require and can be trusted. It saves you from having to find a different broker because the one you have chosen is lacking in some way, or from getting scammed. Despite being careful, people do end up falling into traps because these scammers have gotten very good at attracting them. You will find VestingFX to be one such broker. How?
If you check out VestingFX’s website, you will come to know that they advertise premium-quality online trading services and are offering their services to everyone for trading and making money. This can sound very attractive, but it is only when you check them out closely that you discover that the broker is not really what it appears to be. This review can offer you the details needed for making the right decision:
VestingFX’s Licensing and Regulation
The best way to determine the authenticity of a broker is by checking out their licensing and regulation. A company that have the license to provide its services and its activities are monitored by a reputable regulatory authority can be trusted because they will have proper policies and will be held accountable for their actions. When you take a look at VestingFX’s background, you will discover that they lack credibility and transparency.
As per their website, VestingFX claims to have its offices in London, United Kingdom. To be able to operate in the UK, the brokerage would have to be regulated by the Financial Conduct Authority (FCA), which is the authority of the country. But, there is no mention of regulation on VestingFX’s website. You can also check the FCA’s online register and not find their name listed.
What does this tell you? It means that either VestingFX is lying about being based in the UK, or they are operating illegally from the region. Both of these explanations do not instill trust and confidence in the broker. In fact, it does the opposite and shows you exactly what you need to stay away from them.
VestingFX’s Terms and Conditions
If you need more convincing about why VestingFX is not the appropriate broker for you, even after finding out their lack of regulation, then you can find it in their Terms and Conditions. The purpose of this document is to outline the relationship you will have with the broker and what you can expect from their services.
When you check out the Terms and Conditions on the VestingFX website, you will find that they will not allow you to make withdrawals. How? This is because they offer trading bonuses to their clients, which is another aspect that shouts scam as brokers operating in the UK are not permitted to do so. Trading bonuses have been forbidden by many regulators because of their exploitative conditions and the same is the case with VestingFX.
As per their policies, you will not be allowed to make any withdrawals until you have fulfilled a minimum trading volume requirements associated with the bonus you get. The problem is that the requirement is such that it is not practically possible for traders to meet it, thereby ensuring that you will never be able to withdraw your funds.
VestingFX’s Trading Platform
The most crucial feature that you get from an online broker is their trading platform, as it plays a significant role in your overall experience. It is natural for every trader to want the best in terms of trading platform, but this is not what you will get at VestingFX at all. They are offering a web-based trading platform that doesn’t leave much of an impression in regard to its feature. It is a rather primitive one that’s offered by most scam brokers in the market.
There is absolutely no comparison between VestingFX’s trading platform and the MT4 or the MT5 platforms that are considered the top in the financial markets. The fact that these platforms are not available is another reason to stay away from this broker.
Checking the leverage offered by the broker is part of the process because you have to know what trading conditions you will get since they affect your bottom line. The leverage offered by VestingFX is 1:400, which is on the high side as most regulated markets don’t permit brokers to offer such hefty ratios to their clients. This is particularly true for the United Kingdom, where VestingFX is supposedly based. The worst part is that when you install their platforms, you are offered even higher levels of leverage at 1:1000, which is not allowed in most jurisdictions. The fact that they are offering such leverage should immediately alert you.
The only relief you will feel is when you check VestingFX’s payment methods because they are offering both bank cards and wire transfers. The former have the option of chargeback, which means you will be able to get your funds back if there is a problems. The latter doesn’t give you this option.
Is VestingFX worth it? When you consider the problems highlighted in the review above, it is easily to realize that this broker is definitely not worth it and there are better options you can find.