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VirtueForex Review: Virtueforex.com a Suspicious Forex Trading Brokerage

VirtueForex Review: Virtueforex.com a Suspicious Forex Trading Brokerage

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VirtueForex is an offshore forex broker that has a beautiful website. The company claims that it is after offering the best trading experience to investors. Additionally, the entity states it is the leading forex trading venture.

You will trade smartly if you invest with this firm. However, before trading, you should ask yourself if your funds are secure in the company. Not all platforms that make bold claims deliver their promises to their clients.

VirtueForex has a demo account that they encourage novice traders to try before live trading. The platform is accepting a minimum deposit of $10000. It is far beyond the average market price. The company does not have anything unique that they are offering to traders.

Trusting such an amount of funds with an unregulated broker is unwise. The company claims that it has over 40 trading assets. It also has an MT4 trading platform. The platform is accepting traders from Asia and Europe.

We do not advise investors to trade with this suspicious firm. Multiple trustworthy forex trading brokers in the market offer a great trading experience to investors. Do not risk your funds’ safety with unregulated entities.

VirtueForex.com Review

The registration process is straightforward and easy. The venture tries to stay relevant at all costs. The red flags make us not to trust this venture. The company states that they want to create a transparent trading environment.

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They also brag about having competitive prices in the market. They target those that have had an unsuccessful trading experience. The platform has adopted the non-dealing desk. Their servers are also allegedly fast and reliable.VirtueForex Review, VirtueForex.com Platform

The platform is not accepting investors from the USA. You can only open one trading account. The demo account can go for one year. There is no report of this company being a scam.

Nonetheless, their entity does not have legit testimonials from investors, as we shall discuss later. VirtueForex has shady features, and it is good to approach with caution. Several scammers in the world aim to steal from innocent traders.

Trade wisely and be cautious, not every platform that promises good deals to end up fulfilling their promises. Sharing personal details with fraudsters will land you in trouble. Therefore, research before depositing funds to earn real profits.

VirtueForex Trading Conditions

VirtueForex does not provide sufficient information regarding their trading accounts. It is, therefore, most likely that the firm is offering only one trading account. Hence, trades cannot choose from multiple plans like in other Forex trading brokerages.

The platform has a demo account, and the currency pair of EUR/USD has a spread of 1.7. The company is allegedly offering the narrowest spread in the market. The leverage that the entity is providing to investors is that of 1:500. The brokers also guarantee a fast trading speed.

You can trade using multiple gadgets using this broker. The MT4 is famous and easy to use and has various trading EA. It also has an app market, financial calendar; you can receive trading signals and charting options for traders. You can determine the next direction of the market using this adorable platform.

VirtueForex Withdrawal and Deposits

VirtueForex is accepting wire transfer, credit, and debit cards. However, the firm is only accepting wire, digital currency, and VT Cash. VT cash is a method that is only acceptable to the corporate that is behind this scam.

The process takes a commission of 2% from traders. Withdrawing funds from this shady broker might turn up to be a nightmare. The methods of payment cannot issue a chargeback. The red flags should act as a warning to anyone tempted to joining this entity.

You can use the same methods to cash out your earning. Withdrawal takes three business days to be processed. Deposits are free, but traders are subject to a fee of $35 per transaction upon withdrawal.

VirtueForex has the liberty of changing their fees. Moreover, the firm might charge additional costs but will notify its clients 30 days prior. They also have a trading bonus, but you should stay away from this entity.

VirtueForex Customer Support

The company claims to have offices in Panama as well as in the UK. The platform is keen on the information they avail. There is no phone number that you can use to contact the platform. Moreover, we do not know the quality of customer support that you will get from this entity.

A legit platform will have a convenient method of communication. From the review, we see investors praising this platform. However, we cannot verify these claims. They have more flaws than advantages.

Regulation and Registration

VirtueForex is a company that is managed by Virtue Technology Group LTD. They are also linked to Virtue Technology Inc. Any financial body in the market does not regulate the corporate. The location that the company is accepting investors from has strict measures for investment firms.

Unfortunately, the entity is ignorant about the law. You should not engage with unlicensed brokers. The risks outdo the benefits, and in the end, investors end up losing funds. Do not be fooled by the years the company has been in the market.

VirtueForex Testimonials

The company has testimonials on their website that we do not trust. Investors claim that they have been trading using this broker. They have saved money using this entity. Based on this information, the firm is a get rich quick scheme.

Traders claim that they are making money using their smartphones. They are earning an equivalent amount as they used to in their previous jobs. Making money is not easy. The platform is also being praised for having the best support that guides investors.

We have significant concerns with the feedback that the company displays. The entity does not have existing reviews from their customers on third party websites. Therefore, the information they present is bias and cherry-picked.

VirtueForex is not licensed, and trading with them does not have many advantages. The firm is offering tight spread and leverage than what financial watchdog recommends. Moreover, the deposit that the firm is asking from traders is high. The withdrawal requirements are outrageous.

Invest with legit forex trading brokerage that are regulated by the authority. You will earn a reasonable amount of profits. Additionally, the entities are trustworthy and genuine.

Moreover, the testimonials cannot be verified if they are coming from real traders. There is no proof of payment or screenshot that can show they have to earn. The reviews cannot be used to attest the company is legit.

The Domain Insight

Virtueforex.com was established in March 2016. The domain will expire in the same month, the year 2022. The entity is registered privately; therefore, we did not find any information regarding the owner. According to Alexa.com, the platform has global traffic of 1,263,605.

Final Verdict

VirtueForex is a company that is operating illegally. The firm uses false testimonials to win over clients. They lack credibility, and you cannot trust them with your funds. Invest with reputable forex brokers in the industry that are transparent.

You will earn a genuine return, unlike with unregulated ventures. VirtueForex does not have a trading history despite being in the industry for several years. We are hesitant with these unrelated firms since traders’ funds are not in safe hands.

 

 

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