Looking to read Vip Coin review, you are in the right place. Read this honest review to know about this vipcoin.ch forex broker and why you should beware.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About Vip Coin
Vip Coin FX is an offshore brokerage with a lot of promises for forex traders. The company openly presents its address in Vienna, Austria.
The broker offers different account packages such as
In addition, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Vip Coin withdrawal process may take a day, according to the platform. Here, it leaves us with no specific information on withdrawal fee.
Vip Coin Minimum Deposit:
Vip Coin deposit is indicated $250 according to the account type. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
No data is found on the website regarding the payment methods the broker accepts. This is another typical sign for fraud, as such firms usually hide something fishy.
Just so you are aware, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Vip Coin Platform:
Vip Coin platform offers a simple web-based trading platform with basic functionality. However, that cannot be compared to the advanced trading platforms of MT4/MT5. Many scammers have trading software to fool their victims that their money is being invested.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
The maximum leverage Vip Coin offers is 1:400. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
What We Discovered about Vipcoin.ch Regulation
First of, Vip Coin is being blacklisted by the Austrian financial authorities. You may check the FMA warning below —
The FMA warns investors against concluding transactions with: VIPCOIN– Finanzportal GmbH with its registered address apparently in Vienna and web domain ‘vipcoin.ch’
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Vip Coin Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Vip Coin FX, like Protosscapgroup appears like a trustworthy trading broker, however, that cannot be ascertained. By all appearance, this broker is likely a platform run by scammers as it has no regulation or contact information. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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