TradeVexo Review – Lack Of Licensing Means Lack Of Trust
Sun Media LLC is the official parent company of this broker. With registration in St. Vincent and Grenadines, they are already marked as a potential issue. Many trading companies decide to register offshore due to high anonymity and weak laws or regulations.
|Sun Media LLC
|Saint Vincent and the Grenadines
|From 2.5 pips
Regulation and Safety of Funds at TradeVexo
This broker is a perfect presentation of something nobody should look for. Primarily, the company is registered in the country known as the hub for scammers. More importantly, they can’t get a license there due to regulatory decisions.
However, they should opt for licenses elsewhere. Mainly in the countries where they operate. But that wasn’t the case with the TradeVexo scam broker. Instead of Tier 1 licenses like FCA, BaFin or ASIC, they got none. On the contrary, European regulators are warning against this investment scam. The first in the line was Dutch AFM.
Trading Software Overview
TradeVexo scam broker is a perfect example that traders shouldn’t be misled by trusted software. In this case, the company is using widely spread Sirix. It’s quite a reputable platform with a solid range of trading features. Most importantly it’s user-friendly and has some advanced trading options. For example, social trading.
On top of that, the Sirix platform is available as a designated app for any iOS and Android device. Which makes it even more favorable for traders. However, if you can’t withdraw the profits with the broker there is no use of such software.
Unfortunately, the situation is the same if the broker is using Meta Trader. Or even cTrader. That doesn’t make a broker reputable. Therefore, the only valid proof of trust is licensing.
TradeVexo Account Types
With TradeVexo broker there are 4 account types:
Thus, none of these present any financial benefits. The only thing that traders can benefit from here is training, e-books and webinars. In general, nothing much that you can’t get with a licensed broker. Except for a way lower commission. Since this is practically a rip-off of $15 on the Bronze account.
According to the company, spreads start from 2.5 pips and leverage up to 1:200. Which is possible for testing by registering a demo account.
Deposit and Withdrawal Options
Another key point of every scam broker is their withdrawal policy. But you would expect first to see how to deposit money. However, with this mysterious broker that remains unknown. Thus it’s not rare that scam brokers prefer anonymous transfers like crypto.
The only transparent thing about their withdrawals is the bonus policy. Which clearly shows you that you won’t see any of your money back. These bonus policies prevent traders to withdraw any profits until a certain trading volume is reached. In this case, for a $50 bonus trader must reach $10 million in volume. Even though they claim to have a wire transfer fee of $25, this becomes completely irrelevant.
Offshore Brokers’ Fraudulent Tricks
Tricks used by TradeVexo are also revealed through TradeVexo reviews. Broker is aggressive with their sales tactics and pressure traders into bigger deposits. Very often, they switch completely to crypto trading because of volatility and opportunities of the unknown.
However, when traders want to withdraw the profits the journey starts. They use different laws to prolong the process. Primarily AML laws that require you to provide additional documentation. Meanwhile, they are checking if they can extract more money from you. Once you provide everything they will come up with non-existent fees or taxes.
But everything is designed with only one goal. To extort your last money and then vanish. Whether you send the last money or not, you will hardly hear from the broker again.
Click Here to Find the Best Broker
We are on your side. Don’t hesitate to reach us if you need any assistance in choosing a broker. But also if you need assistance with recovering money. Because we have a specialized team for that as well.
Even if it was a crypto transfer, it’s not untraceable if you have CipherTrace. So, don’t miss the chance to get your funds back. Get in touch today and book your first free consultation.
An offshore broker without any credibility. The TradeVexo scam is designed only to steal your money. Besides trusted trading software, there is nothing more to offer. With non-transparent funding options, high commissions and a malicious bonus policy, they are not our first choice.
After all, this broker is completely unregulated and there are multiple warnings against them. If that is not enough to keep you away from trouble, nothing will be. Be wise and invest safely.
FAQs About TradeVexo Broker
Is TradeVexo a Good Broker?
No. They are not regulated and Dutch AFM is warning traders about their malicious activities.
What Is The Minimum Deposit for TradeVexo?
The minimum is only $50, but don’t let that trick you to send money to these swindlers.
Does TradeVexo Offer a Demo Account?
Yes. One of the positive things is the availability of demos through the Sirix platform.