Do you know those people who speak a lot and say nothing? FVP Trade is an excellent example of that. The broker shows us an array of awards, regulations, and more, but nothing of that is true. We can only say to try to withdraw the money as fast as possible for those who are trustworthy enough to believe this scam.
Read our FVP review and learn how to get your funds back.
|Broker status:||Offshore Broker|
|Regulated by:||No regulation|
|Owned by:||FVP Trade Ltd|
|Headquarters Country:||British Virgin Islands|
|Cryptocurrencies:||Yes- LTC, BTC, ETH – total 4|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
FVP Trade Regulation and Security
FVP Trade is a brand of FVP Trade Ltd, allegedly based all around the globe. According to the broker’s website, the company has regulations in BVI, Canada, the US, and Australia. However, no matter which of these registers we checked, we found nothing. FVP Trade Ltd is not even a registered entity, so of course, it’s not a regulated one either. If you’re looking to start trading, find a Tier1 regulated broker, FCA, ASIC, or BaFin. And make sure to check the regulator’s register first.
Fund Withdrawal Issues
Suppose you started investing with an FVP Trade broker. First of all, it’s a challenging task since the broker does not disclose a minimum deposit. It means that you will have to wait for a call from employees to evaluate your financial situation. Once you deposit, you will be offered a $100 or $200 bonus. And it sounds terrific, free money, nice starting boost. To withdraw the money after this boost, you need to turn over a minimum 6 lots within 30 days. Just for your understanding, average traders are starting with 0.01 lots since that is a minimum.
The broker often gives the bonus without prior asking and trying to convince clients that it’s all a part of their terms and conditions.
The minimum withdrawal amount is $5. However, there are so many fees that if you try to withdraw any smaller amount, you will cover commission and get nothing to your bank.
Clients are getting to sign the so-called MMA agreement, among other papers. It means an account manager fully manages your account. It sounds like a good thing, especially if you know nothing about the market. Yet, once you insist on withdrawals, this same manager is investing your money lousy, so you will lose everything and stop bothering the company.
It sounds like a lovely cyber fraud, we can agree.
How Does Online Trading Scam Work?
Online trading scams usually start from trading ads that are, in the best case, false. After you deposit the money, and FVP Trade gives you a vast of options for that, including:
- credit card,
- bank wire,
You will be prompted to add more money. Some sort of adviser will tell you all about the “money makes money” story. And it’s a true story when you work with a legit operation. When you know that every first of the month, you can get a payout. Working with a company such as an FVP Trade broker can bring nothing good. Money will leave your account, but it will never come back. After you ask for withdrawals too many times, your account will be suspended, and you will not be able to do anything about it.
Scammed by FVP Trade?
If you were scammed by FVP Trade or any other illicit broker, tell us your story. We’ve heard many, and we’ve helped many. Brokers have sophisticated ways of defrauding clients, but there is always a chargeback.
But what is a chargeback?
It’s a way of refunding your card in case you were scammed online. Your bank can take action and retrieve the money if you manage to prove you’re the rightful owner. For such bureaucracy, our team of experts is at your disposal.
Contact us via online chat, tell us your story, and let’s get your money back.
What is FVP Trade?
FVP Trade is an online trading brokerage without a license for providing financial services.
Is FVP Trade a scam?
FVP Trade is an unregulated company that is scamming clients and not approving withdrawal requests.
Is FVP Trade regulated?
FVP Trade is not a regulated company and has no authority to provide any kind of financial services.