pysong
Anmeldungsdatum: 05.02.2023
Beiträge: 133
|
 Verfasst am: 20. Feb 2023 08:56 Titel: Vault Markets review |
 |
|
Vault Markets review
Vault Markets is just another unregulated broker with delusions of grandeur. At its core it’s nothing more than you average FX scam.To get more news about vault markets review, you can visit wikifx.com official website.
Registration was a walk in the park, however in the user area we were told that our account was not verified, and as a result we had no access to any of the portal options. Basically, we were left at the mercy of the broker, and as we expected we never got the green light from it.
And so, we have to take the trading details from the website. First and foremost, we have to clear the account predicament. The website states that there are a total of 9 different account types, yet while we were registering, we were given only two: an individual and a corporate one. This is a clear play on expectations that fraudsters use to solicit clients.
The promoted trading assets are forex currency pairs, shares, indices, and crypto. The leverage is capped at the most common offshore value of 1:500, while the spread was fixed at 1 pip for all account types. However, there is a 1:1000 leverage account that we are not sure really exists. As mentioned, brokers juggle with accounts as if they are nothing.
VAULT MARKETS REGULATION AND SAFETY OF FUNDS
We will just jump straight to the point. The broker lies about having a Financial Sector Conduct Authority (FSCA) license. The FSCA is the South African regulator, and the most respected one on the continent. The majority of Africa’s best and most profitable brokers are regulated by it, meaning that it cannot allow to get its reputation soiled by the likes of Vault Markets.
The broker mentions another related firm that its purpose is lost in translation. This second company is allegedly registered in Namibia. It’s sort of like the firm’s supposed liquidity provider but we seriously doubt that Vault Markets has dug so deep. Anyway, Namibia is one of the last places that we would ever associate with FX trading. This African nation turned out to have a semi government-tied regulator of markets called the Namibia Financial Institutions Supervisory Authority (NAMFISA),. However, the NAMFISA did not strike us as the best place for an FX broker; more like where a somewhat shady firm will look for approval. In any case, Vault Markets was nowhere to be found in the registry of the company.
Meaning that we can state the obvious: Vault Markets is not licensed and a risk to all!
Unless you wish to throw your money away for no reason , there is absolutely no incentive for investing in unlicensed brokers. In fact, you would be doing them a big favor by funding their further fraudulent projects. If you wish to trade real FX and CFD with regulated brokers, looks no further that those that are regulated, especially in well known locations such as Europe, the UK, the US, or Australia. The regulators there are pedantic to a ridiculous degree and will do everything in their power to uphold the rights of the user and the integrity of the market industry. It is within their power to penalize brokers and demand client compensation, as well as to set industry standards and introduce new rules and regulation.
VAULT MARKETS TRADING SOFTWARE
It’s becoming a weird trend to offer one of the MetaQuotes software, but to embed it with some sort of a virus or malware. With Vault Markets it’s the MT4 that was made available, however the file was too shady for us to open. And we do not recommend opening it to our users.
VAULT MARKETS DEPOSIT/WITHDRAW METHODS AND FEES
Here we have a classic example of information overlap even though the pure content of it does not really make a big difference. We are talking about the minimum deposit requirement. At one point in the site, we are told it’s $5, while on another the minimum is said to actually be $3. The difference is insignificant, but the principle of steady information has been broken, as it has been done by other scammer brokers in the past.
The alleged payment methods are credit cards, BTC wallet, and wire transfer.
All withdrawals are apparently instant; which is definitely impossible, especially with wire transfers were it takes multiple institutions to process a request.
To further worsen the deal, we found out about some sort of commissions and fees that are payable by the user, but have not been disclosed. According to the legal docs these fees are applicable, and it does not make a difference that the firm has not revealed the nature of these commissions nor their values. |
|
Registrieren
Login
FAQ
Suchen
