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Our Victoria capital review exposes why this broker is terrible news for traders. The broker fails to have a valid license and uses another legit company’s legal details. Here’s our detailed victoriadk.com review.
Various reasons make this broker a scam. These include harsh trading conditions and withdrawal issues. Members have been facing withdrawal issues since inception. It’s high time we expose the broker for failing to offer much accountability.
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The broker claims that your success is their success as well. Victoria Capital Financial Trading Pty Ltd is the parent company behind this entity. It claims to have been incorporated in Australia, but no records prove so.
And that’s why this clone is a high risk to newbie traders who don’t know how to discern scams. That’s why we are here, to expose the rot happening within the platform. But, unfortunately, the platform is not all rosy, as members cry foul.
After trading with the broker, the results are dismal at best. You may profit from the trades but won’t enjoy the trading benefits. As you now know, withdrawing funds from the broker is the biggest concern.
There’s a reason why this broker has received so many sign-ups from traders. Looking at it, the website appears professional. With an aesthetically appealing website, traders sign up thinking all is well on the platform.
Victoria Capital offers a world-class trading platform which is another alluring factor. With the MT5 trading platform, members get a barrage of advantages. These include having a platform that’s reliable and stable.
Here are some of the reasons why MT5 is the best trading platform;
After trading and using all available tools, your account reflects the trading activities. Unfortunately, the broker doesn’t allow same-day withdrawals and claims; you must wait for a specific period. The broker fails to mention the period members have to wait for withdrawal.
Days turn to weeks, and members feel the broker is holding out on them. And that’s the case as the broker fails to give valid reasons why withdrawal is a problem. We see a broker who doesn’t offer much in terms of transparency.
Sending withdrawal requests via email alerts the broker you want to withdraw funds. The broker moves quickly to block all communication with members. Soon, you don’t have access to your account as logins get deleted.
And that’s how members are losing funds with victoriadk.com. So please stay away from the broker or risk losing it all.
What’s weird with the broker is they fail to mention the available account types. Once you open an account, you realize the broker offers one account for all. Experts and newbie traders are using the same trading conditions, which seems unfair.
The broker also hides relevant information concerning trading conditions. So, for example, you won’t see any information concerning leverage and spreads. And that’s why we insist the broker is a huge scam.
No sane broker would fail to offer members information on such valuable data.
We believe the broker wants to take advantage of naïve investors. And that happens while trading as the broker uses high leverage positions to their advantage. Traders have no idea unless you are keen on such.
What we see from the broker is a well-laid trap for traders. The broker uses high leverage exceeding acceptable leverage. For those new to trading, the maximum leverage on trading assets should be 1:100.
The broker, on several occasions, raises leverage to 500:1. Which puts your trading position at risk. And that’s why we must move to expose the rot happening at victoriadk.com. The broker doesn’t have what it takes to offer legit services.
Spreads are also not listed on the broker’s homepage. So members do not know the acceptable spreads, are they fixed or variable? We even don’t know lot positions set for members. And that’s not right.
There are four classes of trading instruments available on the platform. These include commodities, forex, indices, and stocks. Members get commodities such as crude oil, energy, and household products such as sugar and wheat.
Forex assets happen to be the most considerable activity on the platform. So you get to trade assets such as major currency pairs. But unfortunately, the broker doesn’t offer a wide array of trading pairs. So you won’t get exotic or minor pairs to spread your risks.
Indices are best for day traders, and some of the indices available include those from America, Asia, and Europe. In addition, a limited number of stocks from the manufacturing and tech industries are available for trading.
Don’t expect any contact or support from the platform. Those who have invested with the platform know too well the issues found on this broker. The broker avoids all communication with traders post-signing up.
Instead of posting a direct line to staff members or the broker, that’s not the case. Instead, the broker leaves a message board where members are to leave a message. You can wait for more than two weeks before getting any feedback.
The broker fails to offer live chat or a bot that can solve more persistent issues. And that’s why we reckon the broker wants to avoid all communication with would-be victims. So please stay away from this platform.
We don’t see any mention of trading fees available on the platform. The acceptable minimum deposit is $250 in almost every jurisdiction. The broker doesn’t offer much in terms of transparency on the matter.
Instead, you have a broker who claims the more you deposit, the higher your chances of winning. The broker will insist on a deposit of $1,000 or more to start trading. Please don’t fall for that; regulators use $250 to ensure members don’t lose a large chunk of their investment.
Your funds are far from safe with a broker who fails to segregate accounts. The broker also fails to mitigate the risks that come with online trading. In addition, members don’t get insurance coverage for deposits made as required by law.
Yes, the broker blocks withdrawals and is not permitted to operate.
Victoria Capital is not a good trading platform. Those who have invested with the broker are using an unregulated broker. And that means there’s no legal framework to follow. The broker is free to impose any trading conditions they deem necessary.
Please stay away from this broker for several reasons, including;
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