Due to the increased interest and traffic in the financial markets, news of people making high profits and fortunes have become quite common. This obviously draws the attention of others and you may want to take advantage of the opportunities as well. There is absolutely no harm in doing so and the negligible barriers to entry mean that you can give it a shot, even if you don’t have experience. However, you shouldn’t let your eagerness and excitement push you into making the wrong choices, such as the broker you decide to use. Not every broker is trustworthy and this will become apparent through this Vinvestpro review.
You should treat your decision to choose a broker the same way as you would when you have to make a decision about anything else. This means not doing anything without proper research and after weighing the pros and cons. Why is this even necessary? It is so because of the heavy numbers of scam brokers that have infiltrated the markets. It is not that difficult to create a fraudulent website these days and all they have to do is offer some irresistible features and services. People who don’t have a lot of knowledge and experience often get entrapped.
As a matter of fact, even experienced traders have suffered at the hands of these fraudulent and scam brokers and this is because these criminals have gotten very good at hoodwinking people. Vinvestpro is the perfect example of such a broker because a quick look at its offerings makes it an industry leading and well-established broker that stands out because of its customer-oriented and educational approach.
Furthermore, the broker is promising easy access to more than 450 trading instruments via its platform, which include forex currency pairs, CFDs on shares, precious metals, indices, commodities and even crypto coins. Along with these, Vinvestpro also comes with generous trading bonuses, leverage that goes as high as 1:200 and a web-based, user-friendly platform. At first glance, this package seems to be legit, but the reality doesn’t even come close to what it presents. Check out the review below to know exactly what the issues are:
It is an anonymous broker
Why would a legitimate company want to hide itself? When a company decides not to disclose any information about its background and other relevant details, then there is definitely something to worry about. This is what you will discover under the glossy surface of the Vinvestpro website. First, you should note that the broker has given a purported address of Colorado, USA. Is it really based there?
If Vinvestpro was truly based in the United States, then it would have to be licensed by the Commodity Futures Trading Commission (CFTC) and would also be required to be a member of the National Futures Association (NFA). This license comes with a very hefty requirement in terms of capital and explains why only a limited number of brokers are actually licensed in the U.S.
Unfortunately, if you check the online registers of the CFTC as well as the NFA, you will not find Vinvestpro listed anywhere. Hence, it cannot be operating from the United States at all. Moreover, you will not find any details about the company that owns and operates the broker because no mention has been made of it on their website, thereby making it anonymous. You will come across the name of Lucky Winner Limited only when you try to make a payment on the broker’s website. Plus, there is also a mention of the Marshall Islands in its Terms and Conditions, a territory that’s known for being a safe haven for scam brokers.
It has a malicious bonus policy
As mentioned earlier, one of the attractive offerings of Vinvestpro is their trading bonuses, something that regulated brokers don’t usually provide because they are not permitted by regulatory authorities. The practice of offering trading bonuses was banned because they were used by brokers for exploiting their clientele via the preconditions.
These days, scam brokers usually offer these trading bonuses because it provides them with a reason to cancel the withdrawal requests of their clients. They use the minimum trade volume requirements as pretext for cancelling them and same is the case with Vinvestpro.
According to their bonus policy, traders are required to trade every single bonus dollar they get at least 20,000 times before they can make a withdrawal, even if you want to withdraw funds that you have deposited personally. This is downright ridiculous and no legitimate broker would ever do that because it means that Vinvestpro can simply keep your money if you cannot fulfill the requirement, which you will not be able to do.
It is not honest about the payment options
When you check out the Vinvestpro website, you will discover that they are claiming to accept payments in a number of ways, which include Neteller, WebMoney, VISA and MasterCard, SOFORT, Skrill and Qiwi Wallet. This is quite impressive, only if it were true. The real story is that the broker accepts payments via a couple of third party payment providers, such as Gohype and PayTechno. To be honest, no one has heard about these payment options and this makes them very shady.
It doesn’t have a good trading platform
Your trading experience with any broker is largely dependent on the trading platform they provide to you and this is another aspect where Vinvestpro appears to be nothing but a disappointment. If you have researched trading platforms, then you are probably aware of the MT4 and the MT5 trading solutions, as they are known as the top ones in the market and can offer numerous advanced features and tools. Yet, a web based platform is provided to you by Vinvestpro and it doesn’t even come close to what the MetaTrader can offer.
The important thing to remember is that you shouldn’t be fooled by appearances when it comes to Vinvestpro because it is not the comprehensive package it promises to be.