Vextrader Review – Automated Trading Efficient At Draining Deposits
The vextrader.com domain belongs to an illicit offshore company. The website owners are having a hard time choosing whether they are an STP broker or an investment firm. The schemers also imply another sister website, vextrader.net, which is completely unaffiliated with the platform.
Doing some research, we’ve found multiple telltale signs of fraudulent activity. The firm is blacklisted by multiple regulators, and all their alleged legality has proven to be just empty claims. Stay with our Vextrader review to learn more about online forex frauds, and how to stay protected.
|Regulated by:||Unregulated Investment Firm|
|Is This Company Safe?||No unlicensed company can be considered safe!|
|Have Warnings from:||SC, KNF|
|Deposit Bonus:||Not available|
|Trading Assets:||Currencies, Commodities, Spot Metals, Indices CFDs, Share CFDs, Crypto CFDs|
|Free Demo Account:||No|
|How to Withdraw from This Company?||Unregulated companies are not likely to return your money. Seek the help of our legal professionals in order to start a chargeback.|
Completely Illicit Company
As with many other fraudulent firms like MaxProInvest, the scammers are playing the pretense game in an attempt to portray Vextrader legit. The people behind the vextrader.com website are trying to push the idea that the firm is allegedly licensed by FINTRAC and DED.
Any MSB the company had with FINTRAC has since been revoked, while DED never had jurisdiction over investment firms in the first place. The firm is allegedly based in Belize, but it doesn’t appear in the FSC register of licensees.
It’s obvious, thus, that Vextrader is not operating an honest business, and that they are likely to take their investors’ money with no chance of a reimbursement. The same goes with any unregulated firm.
History Of The Scam Domain
The domain behind the scheme was originally used to allegedly sell prepaid MasterCards to the German public. It materialized into the con we can see today in 2019, as you may see in the WhoIs register.
Here you can see where this scheme is most active:
For them, every method is on the table, from romance scam to unsolicited phone calls and emails, and even threats and extortion. Whichever of these approaches the agents use, the pattern is always the same: ask for a little money at first, and then increase the stakes as the platform shows fake profits.
Sometimes it becomes difficult to resist these persuasion experts. If you have invested any funds with vextrader.com, reach out to our legal experts for a chargeback.
Trading Costs And Fees Remain Unknown
For a regulated firm that the Vextrader owners claim to operate, it wouldn’t be acceptable to be so untransparent and secretive about fees and costs. Not only does the platform not publish any of the fees they so generously charge, but none of the other costs are known either.
Transparent fees and other taxes and commissions are one of the key regulatory standards that a properly licensed company has to meet. As a rule of thumb, you don’t want to invest with any company that doesn’t clearly discuss their trading costs.
Trading Features Are Off Limits
Unfortunately we were unable to test the trading conditions with this platform. Without a proper Vextrader login, it was impossible to check any of the website advertisements first hand. Faux companies like this one and FxOnUs for instance, are not really known for the veracity of their claims.
Managed Funds Program
Instead of typical Vextrader accounts, the website advertises three major investment plans, allegedly in use for years already:
- Matrix – Average monthly profit – 9.66%
- Prism – Average monthly profit – 9.05%
- Paladin – Average monthly profit – 9.47%
The site doesn’t reveal any of the obligatory deposits or other conditions pertaining to managing the investments. All you will find is the talk about the unmistakable automated trading software we’ll further review.
Automated Trading Solutions
Piggybacking on the current AI craze, Vextrader platform is said to implement incredible automated trading solutions. Their trading bots, they claim, are straight out of sci-fi with a nearly infallible algorithmic AI. Of course, it’s all made up, such programs are far removed from reality.
When it comes to the actual software that runs the whole gig- nobody knows what it is. There’s not a single trading program on the site, and app download links on Google Play and App Store are defunct.
CFD And Forex Assets
Several instrument groups advertised as available for price speculating on vextrader.com are:
- Currencies (EUR/USD, EUR/GBP, USD/AUD, USD/CAD)
- Commodities CFDs (Cotton, Coffee, Cocoa, Corn)
- Indices CFDs (S&P500, NYSE, HK50, FR40)
- Spot Metals (Silver, Gold)
- Share CFDs (Airbnb, 3M, Bank of China)
- Crypto CFDs (BTC, LUNA, DOT, DOGE, XRP)
No Payout Policy
The website is silent about any withdrawal policy, and it contains no Terms and Conditions document. In fact, the company doesn’t even mention any info regarding the Vextrader withdrawal whatsoever!
This allows the fraudsters to invent any number of hurdles and constraints in order to prevent a payout. For help with asset recovery, contact our chargeback experts.
Alleged Award-Winning Support
The Vextrader support offices are claimed to communicate with their clientele via:
- Online Form
It’s questionable how diligent is the client service run by a blacklisted online trading company. Additionally, some other communication methods such as callback and online chat are missing.
Popular brokerage powerhouses provide plenty of choices when it comes to getting in touch with the customer service. In comparison to that, the firm in question remains far inferior.
How To Get Your Financial Loss Reimbursed
The name of the game with this firm is pretense legitimacy. Nothing on the vextrader.com website stands up to any scrutiny, as the company provides no license or regulation for their alleged business. What’s worse, the company has been placed on the blacklist of multiple financial regulators.
Getting your deposited funds out of the clutches of scammers may prove difficult without legal action. Contact our team of professionals through the live chat, and book your free consultation today. With our aid, you too can chargeback your lost money!
What Is Vextrader?
This is a scam brokerage website that presents false regulatory information. If you’re having trouble withdrawing, please consult our legal experts.
Is Vextrader A Scam Or Legit?
The firm is a total scam, as they were blacklisted by two prominent regulators from different jurisdictions.
How Does Vextrader Work?
The platform demands investments that are supposed to return high profits based on automated trading software.