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CVC Markets (Cvcmarkets.com) is an offshore broker offering Forex, Indices, and Shares. CVCMarkets is claiming to offer low spreads on their trading platform. Offshore brokers will do or say anything to try and sell their services. The problem with cvc markets is using over the moon claims and promises. An excellent example is offering 25 percent bonus on every deposit. These are unheard of claims which are meant to sign up investors. Read this genuine CVC MARKETS Review for more.
The about us page is unclear on the trading background and history of the broker. And this is a huge problem as traders are signing up to an unknown platform. Offshore brokers rarely offer any insight on their trading background. What these scam brokers have done is use over the moon claims and promises to entice traders. Once you sign up, the real picture of the broker is revealed. And this is why it is best to look for a qualified broker who is backed by the trading community.
Having an offshore broker will pose more risks than any other. They close shop at any given time and don’t inform members. Members of this platform are also up in arms over withdrawal issues. CVC Markets is not allowing any new members to withdraw funds which is a huge problem. Without withdrawals, the platform becomes less of a trading platform and more of a scam. Every investor and trader should get the chance to gain access to their funds. Once you deposit funds with this broker, it is the last you will hear of it.
According to their homepage, the broker mainly deals with CFDs and Forex trading. These are the main assets available with leverage ranging between 1:200 and 1:500. The spreads are fixed from 0.1 pips to 2.5 pips according to the account type used. CVC Markets is mainly dealing with major and minor currency pairs. Lack of exotic currency pairs is evident of the broker’s inability to offer full trading assets. They also claim to offer over 100 trading instruments with no requotes.
CVC Markets is the sole owner of the platform and does not have any business address. Disclaimer at the footer of their homepage claims to be located in St. Vincent and the Grenadines. With this being their address, it is clear CVC Markets is an offshore broker. And this makes it an anonymous online trading platform. There’s nothing riskier than a broker who is unknown, recovering funds is next to impossible.
According to the trusted domain register whois.net, the platform is barely eight months old. Records show the website was created on 2nd April 2019. Claims of being in the industry for over six years are quickly refuted. These are scam brokers who have nothing else to do than steal from unsuspecting investors. Scam brokers will post false information such as trading years to buy consumer trust. They simply want traders to believe this is a reliable and trusted online trading platform. It is far from the actual truth, they are a bunch of online scam artists.
With the broker claiming to be based in St. Vincent and the Grenadines, we checked with authorities to confirm. The FSA does not offer trading licenses to brokers as this region does not cover the online brokerage firms. And this is concrete proof the broker is far from being licensed. They have posted random registration details at the footer of their homepage. These numbers hold no meaning and are used by scam brokers to throw off prying eyes. Thanks to our investigation, we can reveal CVCMarkets is NOT LICENSED OR REGULATED.
Other regulatory bodies in regions where victims come from plan to issue an alert. Victims from Europe have lodged complaints to various regulatory bodies regarding the broker. Some of the regulatory bodies planning to issue warning alerts include CNMV and the FCA. These are well-known governing bodies which protect online traders. With a broker who is not licensed, deposits made are not insured by the platform. And this is why none of the members will get compensated.
CVC Markets is furnishing members with four account types to choose from. These accounts include Classic, Standard, VIP, and Pro. The problem with these accounts is lack of proper information regarding available features. Initial deposit for the basic account which is the classic plan starts at $100. These scam brokers have used a lower number to attract newbie traders. The industry has set $250 as the acceptable minimum deposit. Scam brokers go below the standard amount to entice newbies to deposit with them.
According to their homepage, the broker promises a bonus of 25 percent for every deposit made. Bonuses have become a bone of contention as brokers use them to block withdrawals. The broker will demand members to pay back every bonus made. Even if the account has funds to cover the bonus, the broker demands a new deposit. And this is why the industry regulators plan to ban the use of bonuses soon.
Before you make contact, the client must fill in a form before entering their messages. With offshore brokers, they use this communication channels to harvest data. Visitors have to fill in their email and phone numbers before a message is sent. And this is why most members get promotional emails from products they have never subscribed. The broker will also sell your contact information to other promotional agencies.
CVC Markets is using false customer reviews to try and sell their reputation. These scam brokers have downloaded stock pictures and inserted positive comments. The clients in question don’t exist and they are a ploy to entice newbies to sign up. Once unsuspecting investors see positive comments, they easily believe the broker. And this is where the investor makes the mistake of signing up and depositing funds. None of the customers are on any social media platforms.
There are a bunch of depository channels open for everyone to choose from. Brokers ensure the depository methods are available to anyone. CVC Markets is using MasterCard, Neteller, Perfect Money, Skrill, Visa, and others. By using these depository channels, they make it easier for traders to fund their accounts. The main problem with CVC Markets is lack of withdrawal procedure. None of the members have been able to make withdrawals for the past few months.
CVC Markets is claiming to offer MT4 trading terminal on their platform. Once you open an account, the broker uses a custom made web interface to trade. The main problem with their trading platform is compatibility and security. Members claim the platform is unstable and not compatible with mobile devices. Lack of proper testing and adequate security software is the culprit. Stay away from an untested platform as it opens traders to third party attacks.
Any trader who deposits funds with this broker should know funds are far from being safe. The platform is openly stealing from members by failing to grant withdrawals. CVCMarkets is not segregating funds as stipulated by trading regulations. And this is a reason why none of the members withdrawal funds. The broker ensures members are depositing funds to a personal account.
Evidence is pointing to the fact CVC Markets is a scam. Watch out for their unscheduled phone calls if you filled in your details on the contact page. Warn your family and friends from joining any of their affiliate programs. Mark all of their promotional emails as spam and don’t click on any links. These are online scam brokers who will try anything to get you signed up. With a warning on the way, it is best to stay away from offshore brokers.
Adding the broker to our scam blacklist will ensure no one else falls for this trap. Stay safe and use appropriate brokers backed by experts and traders.
Finally, we wish all investors and traders a safe trading experience.
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