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VipFXRoom Review: Vipfxroom.com Forex Broker Scam

VipFXRoom Review: Vipfxroom.com Forex Broker Scam

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VipFXRoom (Vipfxroom.com) is a CFDs and Forex scam to hit the lucrative Forex trading world. VIP FX Room is claiming to offer experienced, good, and swift account managers. VIPFX Room is claiming to take profits to new heights thanks to their professionalism in trading. With these claims, we decided to investigate and see what this broker was all about. Read this detailed and honest VipFXRoom review and get the truth.

VipFXRoom Review

VipFXRoom Review:

These scammers have done a pretty good job of creating a website that easily entices the eye. Every newbie investor who lands on this page is led to believe that this is a legit and true brokerage firm. How do we know that this broker is a scam? Years of experience has made us spot scam brokers from afar. Read this entire review as we will reveal what the naked eye can’t see with this fake broker. There’s more than meets the eye with VIPFXROOM.

Claims and promises are another factor that scammers rely on to entice investors into signing up. User-friendly account management, comfortable and multi-functional trading are a few claims used. Promise that this broker will guarantee profits is another scammer’s tactic to ensure that investors sign up. A welcome bonus is also another tactic that investors should be wary about since this broker is a fraud. Here’s the full expose of VipFXRoom’s dirty tricks.

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Who Owns VipFXRoom?

Disclaimer at the bottom of the page reveals that this broker is owned by Find Solutions Limited. Information given is that this broker is registered in St. Vincent and the Grenadines. What this means is that VipFXRoom is an offshore broker which spells doom for anyone who signs up.

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There’s a lot of anonymity when it comes to the actual people who run this platform. How comes there’s no mention of any founder or CEO of this company? What this means is that we are dealing with a broker who wants to remain anonymous. Anonymity is a dangerous practice to associate yourself with in any online investment platform.

Is VipFXRoom Licensed or Regulated?

VipFXRoom Scam

What we know is that this broker has used fake registration credentials on their own homepage. Disclaimer at the bottom reads that this broker is registered with 24960 IBC 2018 as their registration number. It should be noted that this is a random number and should not in any way be trusted. Looking at the records, it’s clear that this broker has not been regulated by any financial institution. VipFXRoom is operating under false pretense.

Where are their registration certificates to prove authenticity? A real broker will post copies of their registration certificates and documents for everyone to see. Why should brokers post their credentials? This helps to prove licensing and also shows transparency by the broker. Investors should never sign up with an unauthorized broker; VIP FX ROOM is one of them.

Platform Used.

According to their platform page, this broker uses MT4 trading platform. Users can get desktop trader, Android trader, and IOS trader thanks to their innovative technology. That said, we had to test how well their platform works. Download stalled at 11% which means that users are trading with an unstable platform.

Unstable platforms are bad news for any trader since they leave users vulnerable to attacks. Hackers find unstable platforms as easy prey for personal data information. Make sure you stay away from a platform that has similar characteristics. Hackers will take over this platform and gain access to your credit card information. Next time you check your bank account balance, it might read zero.

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Fake Testimonials.

Another disturbing detail we found with this broker is the use of fake testimonials. This broker has taken advantage of this and produced fake testimonials to try and sell their services. Samantha DE Souza is one testimonial that has been used in previous scams. She claims that this is the best broker she has ever used so far. Samantha is clearly lying to us.

Other testimonials in this homepage include Alex Truman and Zayeed Anwar. Why have we watered down these testimonials?  Why can’t we get a hold of these people? Looking at social media platforms, there’s no mention of these people. It’s clear that VipFXRoom is creating fake profiles to promote their scam platform. Stay clear of this broker.

Are Funds Safe with VipFXRoom?

VipFXRoom Fake Review

According to the evidence gathered and comments online, funds are not safe with this broker. If you haven’t realized, this broker fails to give users vital information regarding banking procedure. Where do they bank money deposited by investors? It’s possible that investors are depositing money straight to the owner’s personal bank account. And this is where we draw the line with VIP FX Room.

Failing to comply with industry rules is another mistake with this broker. There’s no segregation of accounts. It means that VipFXRoom is pooling funds in one account which is dangerous to say the least. In case the broker faces bankruptcy or insolvency, this broker will lose all funds at once. This broker does not participate in a compensatory scheme, making it a risky venture.

Account Types.

VipFXRoom is offering users three different account types to choose from. These accounts are Micro, Standard, and VIP. Micro account users are required to place a minimum of $250 to start trading. Standard users must deposit $10,000 to start trading with this broker. VIP holders must make a minimum of over $100,000 to start trading with this broker. Lots trade sizes are the same with all the accounts as well as mobile trading capabilities.

Micro trade account holders are not issued with trade signals which is unfair to say the least. These accounts have almost the same advantages which means broker did not think it through. Why deposit $100,000 to get the same perks as a trader who deposits $10,000? It doesn’t make sense at all.

Is VipFXRoom a Scam?

Without a shadow of doubt, VipFXRoom is a scam that must be exposed for all to see. Make sure to mark all their emails as Spam and never click on any links sent by them. Hackers are using these links to gain access to personal computers for data extraction. Warn your friends and relatives from signing up with this rogue broker. Ensure that you resist any attempts or calls to sign up with VIP FX ROOM.

VipFXRoom Final Verdict.

VipFXRoom Scam Review

After gathering all the necessary evidence, we have to add this broker to our scam blacklist. Doing these will hopefully prompt relevant authorities to look into this broker and shut their whole operation. Stay clear of this broker who promises heaven only to deliver hell.

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Finally, we wish you all the best in your Forex trading experience.

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