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VowFX Review: Vowfx.com Cruel Forex Scam

VowFX Review: Vowfx.com Cruel Forex Scam

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VowFX (Vowfx.com) is another bane CFDs and Forex scam targeting unsuspecting online investors. Vow FX is claiming to offer futures, indices, precious metals and stocks to anyone interested. After landing on their webpage, it seems the website is Chinese by default which is a problem. Members who signed up were charmed into believing this platform is based in Europe. Read this genuine and honest VOWFX Review and get the truth.

VowFX Review

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VowFX Review

After receiving numerous email complaints from members of this platform, we knew trouble was brewing. Complaints centered on the broker never being available and members facing withdrawal issues. We carefully started digging into this website and found out some shocking discoveries. It turns out VowFX is another online investment scam platform targeting investors from Asia and Europe. To find out the whole truth, we suggest you get to know what we found out.

Scam artists have been known to create over the moon claims and promises just to entice members. That’s what Vow FX is doing by creating a website which has a default Chinese setting. They are targeting members of the Chinese community living in Europe. These claims posted on their webpage are a lie and should not be trusted by anyone. Whoever signs up with this platform will regret ever depositing funds with them. As it turns out, no one has ever withdrawn funds with VowFX.

About VowFX

Not much is known about this website apart from what the scam artists want to expose. Thanks to our years of investing and trading, we know how to spot a scam from a mile away. Looking at their contact page, you will realize that this website has no valid location. Why have they failed to name their base of operation? Vow FX is appearing to be an offshore broker who is targeting unsuspecting investors.

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Contact page just has an email address with no other way of contacting them. These scam artists don’t even have a working phone number that users can reach them with. Anonymity is a scammer’s best friend as it allows them to steal without being traced. Who are the founding members of this platform? With any online anonymous investment platform, the good step is to stay away. VowFX is totally anonymous and highly risky.

Is VowFX licensed or registered?

VowFX is not licensed or regulated by any official regulatory body that we know of. We contacted various regulatory bodies to confirm their licensing status. Some of the institutions we contacted include ASIC, CONSOB, CySEC, FCA, NFA, and SEC. None of these bodies has ever licensed the broker to operate Forex services. What this means is that we are dealing with a broker who is out to cause havoc.

Another shocking aspect of this platform is that they don’t have any information to back up their license. A true broker will post details of their license for all to see. You should be able to see their license and regulation number at the footer of their homepage. VowFX is not following protocol which suggests they have something to hide. Without a proper licensed platform, these scam artists are simply stealing from users. Stay away from any online investment platform which fails to show their regulation status.

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Advantages of VowFX

We searched their entire website to see whether we could find any advantage of trading with Vow FX. Sadly, no advantage can come out of trading with an unlicensed entity. With most members complaining of lack of communication, it is clear this is a scam. Why on earth would anyone send money to an anonymous third party? Such scams are on the rise and it is our duty to expose these scam artists. Ensure you stay away from this platform and ignore all their calls to sign you up.

Disadvantages of VowFX

Accounts offered

VowFX Accounts Offered

VowFX is furnishing users with three account types; this is according to what’s posted on their website. What we have a problem with is no one knows the names of these accounts. We searched the entire website for clues of where to find details of these accounts. Scam artists who are in a hurry will make such mistakes making us believe this is a cloned website. Trusting VowFX is not going to happen.

Deposit and withdrawal

Another disturbing feature with this website is lack of information regarding deposit and withdrawal. The account details are in line with a personal account which makes the platform a sure scam. Make sure to know what a broker’s instructions are when it comes to depositing and withdrawing funds.

MT5 Trading platform

Although the broker claims to have MT5 trading platform, we highly doubt it. With a broker who fails to secure their platform, we believe this is another unstable platform. Looking at their entire trading website, there is lack of adequate security features. You would expect the platform to be DDoS secure and have SSL Encryption. Make sure you associate with platforms which are secure for use.

Unresponsive customer support

Another problem we encountered with this platform is lack of a quick response time. The problem with this platform is that they choose to use email as their only way of communication. Emails are one way and it gives these scam artists a way to choose which emails to respond to. It is best to stay away from this illicit platform.

Are funds safe with VowFX?

Segregation of accounts is also another concern as we are sure this platform does not follow the rules. Pooling of funds in one account is another problem VowFX is doing and leaves funds at risk. The best thing to do is to stay away as members are filling the pockets of unknown persons. Best stay away from this platform and make sure to ignore all their marketing gimmicks.

Is VowFX a scam?

VowFX Trading Platform

Evidence clearly shows we are dealing with a scam. Ensure you stay away from this and other platforms which share the same characteristics. Mark all their emails as spam and never click on any links sent by their email marketing team. Warn your family and friends from joining any of their affiliate programs.

Bottom line

We will be adding this platform to our scam blacklist to ensure our readers know what to expect with them.

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Wishing all investors a happy and prosperous trading experience.

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