Vow Markets (Vowmarkets.com) is another dubious CFDs and Forex scam platform to hit the trading world. VowMarkets is claiming to be a global investment platform offering low spreads. They also claim to have a powerful trading technology with a dedicated customer service team. These claims would be helpful if only the platform was legit and the broker real. Want to know more? Read this genuine and honest VOW MARKETS Review.
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After receiving numerous email complaints from members of this platform, we decided to investigate. Vow Markets is another online trading investment scam which is stealing from investors. During our investigation, we unveiled some damning evidence which we will share with our readers. Before you open an account with these vultures, you need to know what you are getting yourself into. Some of these scam artists are in the business to wipe out your bank account.
We could see why newbie investors fell for this trap, the well-designed website is easy to fall for. Professional scam artists will clone trading websites and make it look like a real trading website. And this is what Vow Markets is doing with their moving images and messages. What you need to know is that we have them by the balls. Thanks to our years of trading experience, we know how to spot a scam from a mile away. Make sure to stay away from this platform or else face some major consequences.
Upon visiting their about us page, we read that Vow is an elite team of experienced traders and finance professionals. What the page fails to do is offer any real information regarding the actual platform. Their contact page also leaves users guessing as they leave an email address and a busy phone number. Where is this platform actually located and where is their main office? Such platforms which don’t have an actual base of operation are scam in the making. No one should trust such a platform with funds.
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Anonymity is another sign we are dealing with a scam. Since they claim to be an elite team of professionals, who are they? Why have they failed to give us their actual names? It would be better if we knew who the founding members of this platform are. No one knows the names of people who actually run this platform. These are some of the reasons why investors should stay away from VowMarkets. Vowmarkets is anonymous and can shut down without giving users any notice.
With an anonymous platform, it is clear they don’t have any trading license to show. Their website also fails to have any valid license and registration details. What these scam artists do is create an impression they are licensed by authorities. We did contact different regulatory bodies to check whether this platform is actually licensed. What we found out is shocking beyond words. It turns out some leading regulatory bodies have given a warning for anyone trading with this platform.
Some of the regulatory bodies we reached out to include ASIC, CONSOB, CySEC, FCA, FSC, NFA, and SEC. These are regulatory bodies which have the authority to license any trading entity. Lack of registration means Vow Markets is offering trading services without being regulated. Anyone who signs up with this platform is bound to lose their deposits. The platform does not insure funds as dictated by trading rules. Any deposit made means the platform can use it to do whatever they want.
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We could not come up with any advantage of associating with this unlicensed platform. Due to their anonymous nature, it is clear we are dealing with a platform which is dishonest. With complaints coming in nearly every day, investors should watch out. Such platforms are a disgrace to the solid trading name. Exposing this platform will be beneficial to newbie traders. Such platforms target newbie traders who don’t have a clue of what trading is all about.
Vow Markets is furnishing users with two different account types to choose from. Accounts are listed as Gold and Silver and don’t have much information on them. No one knows the minimum required deposit to start trading with these accounts. Traders should know that the industry has set $250 as the overall acceptable minimum deposit. Some members are claiming to have been asked to deposit over $5,000 in order to start trading. With such an obscene amount, Vow Markets is simply a scam.
Although VowMarkets is claiming to use MT5 trading platform, we have one problem with the website. Even if you use an acceptable trading platform such as MT4 and MT5, security is still a problem. A broker, you must ensure your platform is fully secure from third party attacks. Without DDoS protection and SSL encryption, hackers can easily take advantage of this platform. Funds are not secure as hackers can take advantage of the security lapse to gain access to your funds.
Another problem we found with this platform is lack of a demo account. A demo account is important especially to newbie traders. Expert traders also use demo accounts when trying out a new platform. Without a demo account, investors are signing up to an unknown and unproven trading platform. Who knows the actual speed of execution that this platform offers? Does anyone know the advanced tools found on the trading platform? These are the questions a demo account helps to answer.
Without a customer support available when you need it, the platform is never going to be helpful. With this day and age, you would expect a platform to have live chat support. In case you need help, you have to write an email which might take months to get a response. The number listed on their contact page is also a blur as it is always busy. Seems like the scam artists don’t want to be contacted by anyone. The fear of being exposed and investigated is why they prefer to have cone way communication.
How can funds be safe with a platform which fails to offer a trading license? With anonymity being their middle name, it is clear we are dealing with a rotten scam platform. Without a trading license, never expect funds to be safe. Compensation should be thrown out of the window as the platform does not participate in a compensatory scheme. What users need to know is that we are dealing with a lousy scam platform. Ensure you stay away from this platform and use approved and recommended tools.
Evidence clearly shows that we are dealing with another online investment scam platform. From failing to have a proper license to numerous complaints, Vow Markets is a scam. Ensure you stay away from this platform by signing up with industry leading and trusted brokers. Make the right move and ignore any calls from their call agents. Vow Markets is another well-scripted scam meant to steal from unsuspecting investors. Thanks to this review, you now know what to expect.
We will be adding this platform to our scam blacklist to ensure no one signs up with this platform.
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Wishing all investors a happy and prosperous trading experience.
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