Volofinance Review: Who Is Behind This Broker?

Volofinance broker is one of the most anonymous that we analyzed recently. This broker doesn’t reveal any essential information. Yet, traders should trust their investments to such a shady broker.

Since they are providing FX and CFD trading services they should have valid licenses. But we will look at what is happening behind the scenes in this Volofinance broker review to show you reasons why not to trust this broker.

From lying they are a regulated broker, to claiming they offer the industry standard trading platform MetaTrader4, there is a lot to cover so let’s start.

Additionally, we invite you to read our Moxium and Delux Deals scam brokers reviews to keep your fund safe.

Regulation and Security of Volofinance

Volofinance primarily doesn’t reveal where they operate. What we can find in T&Cs is that all legal acts should be under the jurisdiction of the UAE. Yet, they don’t have any licenses for trading in the UAE.

The fact is, they don’t have any. We did take a look at some Tier 1 regulators’ registers. In the FCA register, we couldn’t find any records of the Volofinance trading company. The same results were for BaFin and ASIC.

With this in mind, we can already see scam patterns. Clients don’t have any fund security measures. Starting with basic ones like guaranteed stop loss. Not to mention negative balance protection and compensation funds.

Another dealbreaker is that they present themselves as the partner of Vlado brokers which is a legitimate Australian company. In reality, they are not connected at all.

Completely anonymous broker. They don’t have any regulations or fund protection measures for traders. Moreover, they don’t have transparent trading conditions and even a trading platform.

Volofinance Trading Platform

Volofinance trading company advertises MetaTrader 4 as their trading software. In general, that would be a great choice for traders. MT4 has multiple advanced charting and indicators options.

Even advanced EAs are available. But not with this broker. Once you download the platform, you are redirected to Vlado brokers. Which doesn’t have to do anything with Volofinance.

And as we have mentioned, this is just one of the many things this illicit broker has lied about.

Trading Instrument Available at Volofinance

The Volofinance broker is a bit short on the instrument’s availability. They only offer 3 different classes out of majors 5. But with a scam broker like Volofinance, that is not even important. Anyway, those groups are:

• Forex – USD/SGD, AUD/HKD, CAD/JPY
• Commodities – Natural gas, gold, crude oil
• Cryptocurrencies – BTC, BNB, XRP

Some most fundamental trading assets like stocks and indices are missing. With this in mind, you should opt for a more attractive licensed broker. In fact, many of them provide access to way more instruments.

Deposit and Withdrawal Procedure

Volofinance did not mention anything about possible deposit methods on its website. We were also not allowed to try and make a deposit ourselves since we did not get access to the broker’s client area.

Depositing with such a scam broker is a horrible idea. If you manage to do so, you will, without a doubt, end up losing money. Stick to regulated brokers that offer safe payment methods like debit/credit cards, wire transfer and E-wallets.

Volofinance Account Types Offered

Another mysterious thing about this broker are account types. Therefore, traders can’t see what conditions they get or how much it will cost. Which is quite ashaming for a broker presenting itself as a trusted one.

Not even the minimum deposit requirement is available on their website. This is one of the worst presentations about the company so far. But the goal is clear. They want you to leave your personal information. Consequently, they will pitch you for a bigger deposit on the first call. Don’t fall for these scamming tactics.
Since their Meta Trader account is non-existent, we can’t see if they have a demo account. Most probably not, because most things are fictive here. The only real thing is their scamming scheme. In fact, that’s why we suggest you look for a Tier 1 licensed broker.

How Does Offshore Brokers’ Fraudulent Works?

The idea of additional income surely does sound nice. The internet gives the impression that making money through investing is more accessible than ever to non-experts. So, it is no surprise that many scam brokers lurk online for inexperienced traders through flashy advertisements and fake stories of satisfied clients.

Once you fall for it and give your information, they will call you non-stop to invest. However, these fake brokers don’t invest the money you give them even though they very confidently assure you that you are generating great profits and should invest more.

Judging by online reviews, the complaints stating withdrawal issues are the majority as many people have problems getting their money. Stay away from brokers that have such negative feedback on the internet. 

Volofinance Summary

In this Volofinace broker review, we tried to warn you about this online trading scam and the many tactics they use to steal people’s money. Once you enter their website and read about all the alleged licenses they have been issued, it’s only normal to think they are a legit thing. But we once again encourage you to actually check these claims and not blindly believe in them.

Doing proper research is a must if you are new to the world of trading also because many phony brokers pop up overnight. Don’t get played by the fairytales they are going to tell you and be careful with making any investments.

Be sure to read as many reviews as possible because there will always be many complaints about the broker if they are untrustworthy.

In case you had any negative experience with this or any other fraudulent broker, we would greatly appreciate it if you could share it with us as we can assist you by reporting your scammer.

FAQs About Volofinance Broker