Virgobanc Review – Too Many Warning Signs Not To Trust Them

Primarily, the company claims to be located in Switzerland. Without transparent ownership and contact information, that’s hard to determine. But considering their trading history it becomes irrelevant. But also there are many more surprises. Keep reading our unbiased Virgobanc review to find out more.

We encourage you to consequently read RoboticsForex and Bitech Max reviews for more clarity and safety measures in the trading world.

Is Virgobanc Reliable? Safety and Regulation

If Virgobanc really comes from Switzerland their primary license should be issued by FINMA. Many brokers choose to get additional licensing for higher security standards. For instance ones from FCA, BaFin, CNMV, or CFTC.

So, let’s get started. Once you get into the register of all trading companies in FINMA, you can’t see any information about Virgobanc. Not even that they are registered in Switzerland at all. First and major red flag. Consequently, we went through all databases of the abovementioned regulators. Thus, the results were completely the same as with FINMA.

Not only the Virgobanc scam broker doesn’t have any regulations, but they got a warning from Spanish CNMV. In this case, the same move is made by Finnish, Norwegian and Belgian regulators. With this in mind, you know that none of the funds are safe with this investment scam. Take a look.

Overview of the Broker’s Trading Platform

With such poor transparency, you can’t expect much from the platform either. Especially knowing that their platform is web-based one. Since this platform doesn’t support demo accounts you can’t test its features. However, from their presentation, you can already see it can’t be compared to third-party software. For instance Meta Trader.

As we can see from Virgobanc reviews, they only provide basic trading functions. From indicators and charting options to historical data and news. But if you were looking for some advanced options you should look elsewhere. Also spreads and commissions are not transparent on their platform. Thus, advertised leverage goes up to 1:50.

Not to mention that web-based platform is way slower than mobile apps. Primarily because it depends on the device and browser that traders are using. So, Android and iOS users will have big disadvantages in trading here.

Account Types Offered

With Virgobanc Broker there are 5 account types. All of the are obviously designed just to extort money from traders. Allegedly higher accounts bring more benefits to traders. Like trading signals, sessions with market analysts, and bonuses. Thus, bonuses are banned in most EU countries.

Anyway, here are the options available

• Basic            250 EUR
• Silver            5.000 EUR
• Gold             15.000 EUR
• Platinum       100.000 EUR            
• VIP               250.000 EUR

As shown above, they don’t offer a demo account. But also there is no micro-account available. In any case, you must risk your money to try their services. Generally speaking, with their shady terms and conditions there are many ways they can try to extort more money. On the contrary, providing you with profits is impossible.

Available Virgobanc Funding Methods

Another key point is the funding methods available. With Virgobanc scam broker you can choose between 3 options:

• Debit/Credit cards
• Bank/Wire transfers
• Crypto transfers

Important to realize is that the company doesn’t have a transparent withdrawal policy. There is no specified deposit processing time. Neither potential fees nor any clauses. With missing regulations and numerous negative reviews, we highly doubt any trader saw their money ever again.

How Does the Scam Intervene?

Firstly, they are trying to collect as much information as possible from you. These scammers often sell you your dreams and try to extort money that way. Everything works fine as long as you see your account balance growing. As long as it stays there it’s fine. However, once you want to withdraw anything there are the issues.

Brokers can use multiple excuses not to approve your withdrawal requests. Starting with bonus policy and documentation to AML laws and non-existent taxes.  If you already have money there, the best choice is to get it out ASAP. If you need assistance with that, our recovery team is available for consultation.

Get in touch if you want to find the best broker.

Our expert team is there to advise you on any topic in the trading world. Let us know first about your experience with this or any other broker. We can analyze with you what happened and how to prevent it in the future.

But also to recover money if you were already a victim of a scam. Don’t let swindlers get away with your hard-earned money. Chargeback is a solution and we can guide you through it. Contact us now.

Virgobanc Summary

Virgobanc investment scam won’t last forever. They already have multiple warnings and many negative reviews. Without regulation and with a poor platform you can’t expect much from the broker. There are no positive aspects that would attract traders to deposit money here. But most importantly, their withdrawals are quite a mystery. So, to avoid any headaches avoid this broker as well.

FAQs About Virgobanc Broker