VipWayZone (Vipwayzone.com) is a CFDs and Forex scam broker that must be exposed. This broker has caused ripples among Forex investors for all the wrong reasons. Vip Way Zone is one of those scam brokers that promises heaven only to deliver hell. From the many claims and promises we found, we believe this is a shady broker. Read this full detailed and researched review to find out the whole truth.
In almost all our reviews, we ask investors take time reading what expert traders are saying regarding a broker. This will protect them from any side effects of dealing with a rogue broker. What investors should realize is that experts know to differentiate between a real and fake broker. Take VIPWAYZONE for instance, these scammers have come up with an enticing website.
For a scam to fully be operational, it has to have some notable features. Scammers know for a fact that we all want to make an extra buck. They take advantage of this need of making an extra buck by claiming to have all the answers. Once they make claims and promises such as offering all kinds of crypto trade. They also claim to have over 180 assets for traders to deal in. This is a broker that we must expose for all lies they use.
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According to what we gathered on their about us page, VipWayZone was founded in 2012. They claim on this page that they were founded by a group of top financial analysts. This is followed by a statement that they are based or registered in the Marshall Islands. What this means is that we are dealing with an offshore Forex broker.
Question we have regarding this broker is who exactly are these financial analysts? Why has Vip Way Zone failed to mention the names of these analysts? These scammers know that if they name them, experts will have to verify who they are. There’s nowhere on all their pages do we know who these experts are. Anonymity is a dangerous trait to have when dealing with any type of online investment. This is why we are against investors signing up with this rogue broker.
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VipWayZone is an offshore broker who wouldn’t want in any way be licensed by regulation bodies. This we are sure of since the broker does not meet licensing requirements. Standards that should be met by a broker are unavailable with Vip Way Zone. And there’s no registry documents posted on any pages on their website. A real broker would post registration and licensing documents for all to see.
Are there any regulatory bodies that claim to have licensed this broker? There’s no regulatory body that we know so far that has backed licensing VIPWAYZONE. This means that this broker is conducting Forex transactions without any proper licensing. Whoever signs up with them is at risk of losing their entire deposits with this broker.
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VipWayZone has different account types on offer. These accounts include Mini, Standard, and VIP account. Mini account holders are required to make a minimum deposit of $250. Standard account holders are required to make a minimum required deposit of $5000. VIP account holders are required to make a minimum deposit of $10,000. These accounts have almost similar perks and no notable advantage.
What’s more with VipWayZone is that they have other accounts. Users can choose to have specialized accounts. There are two types of specialized accounts with Vip Way Zone. A fully managed account will cost investors $25,000 and comes with a financial plan. Premium fully managed account will cost investors a minimum deposit of $100, 000. Funny thing is that there are no details regarding these two accounts.
When it comes to depositing money with this broker, VipWayZone has this covered. There are numerous ways of depositing money with this broker. Sofort Banking, Wire transfer, Web Money, Qiwi Wallet, Skrill, MasterCard, Visa are a few options available. This is not a genuine reason to sign up with this rogue broker. There’s more than meets the eye especially when it comes to withdrawing.
Making a withdrawal with this broker is another thing altogether. Withdrawals may take years, if not, never to occur. Problem most users have with this broker is the failure on broker’s part to release funds. This broker gives users various excuses as to why they are not eligible to withdraw their money. One excuse users are given is that they have not reached the required trading volume to warrant a withdrawal.
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Like we always in almost all our reviews, funds are NEVER SAFE with an offshore broker. This broker may wake up one morning and shut down the entire website. There’s no information that shows who their depository bank partner is. What this means is that user’s maybe depositing money straight to the owner’s personal bank account. Where else would they be putting all the money deposited?
Another red flag that we must point out is that this broker is pooling funds in one account. What’s more troubling is that there’s no compensation scheme. This broker does not insure member funds in any way. In case this broker goes bankrupt or faces insolvency, your funds will be lost with it. And now you know better than to sign up with an unsecured broker.
This broker claims to only use a web-based platform. What this means is that mobile and tablet users cannot use this platform to trade. This is troubling since they don’t give investors a chance to trade on the go. This means that their platform is prone to cyber-attacks from hackers who would take personal data.
This wouldn’t be the first time that hackers took over a web-based trading platform. They do this in order to take personal data as well as credit card information. No one should ever go through such a horrific time due to an unsecured platform. And now you have a concrete reason not to sign up with VipWayZone.
There’s no doubt that we are dealing with a shady and rogue broker. Evidence clearly point out that we are dealing with a scam Forex broker. Make sure that you remain safe by ignoring all their promotional materials. These include webinars, videos and emails sent by their vigorous promotional team. Mark all their emails as Spam and never click on any links sent by their marketing team.
Concrete evidence on our hands leaves us with no other option but to blacklist this broker. With this said and done, we hope that you don’t sign up with this broker. Make sure you follow the advice given as we don’t want anyone else fall prey to this scam. Also, warn your friends about Vip Way Zone as it will take all your funds within minutes of depositing. There’s no way of reaching out to them as they don’t have a live chat team.
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