VanexFX Review – What Are Legitimate Facts About The Broker?
VanexFX broker operates under the flag of Vanex Global Co. Ltd. This company is allegedly registered in Thailand. However, the company presents itself as Vanuatu-regulated.
Even though they offer trusted trading software, don’t let that trick you. You will have proof now that you shouldn’t trust offshore brokers. Stay tuned in this VanexFX review for more details.
|Regulated By:||No Regulations|
|Is This Company Safe?||No|
|Have Warnings From:||N/A|
|Trading Assets:||Forex, Commodities, Indices, Bitcoin|
|Free Demo Account:||Available (allegedly)|
|How To Withdraw From This Company?||
Without a trading license, you can expect all the possible excuses for extending withdrawal processing time. In the end, the most suitable option is a chargeback or an alternative crypto-tracking method. Contact us for detailed guidance.
Legal Info: Is VanexFX Legit Or A Scam?
In the first place, the company claims to be regulated by Vanuatu Financial Securities Commission (VFSC). Yet, searching in their register showed us that Vanex Global Co was not present. Instead, the company is using someone else’s license. In fact, their license number is listed as Vanex Limited in the VFSC register. Yet, there’s no connection to the VanexFX scam broker.
If that’s not enough for you, check other Tier 1 registers like we did. They offer services to US citizens. Therefore, they must have CFTC or NFA license. Yet, they don’t. Neither do they have any other Tier1 license like FCA, BaFin or ASIC.
Who Are VanexFX’s Clients?
According to WHOIS, the company registered its domain in 2020. For such a fresh company, we were expecting way more. Thus, they offer all the scam services you can imagine. Yet, mainly scammed traders are coming from:
- United States
If you are coming from any of these countries, leave a comment below. Ultimately our fund’s recovery team can advise you on the refund process.
Trading Fees, Commissions, Spreads and Leverage With VanexFX
Even though the company claims to offer spreads from 0.1 pips and 0$ commission, it’s hard to believe it. Simply because they openly lied about their regulations. On top of that, the company offers highly risky leverage of 1:500, while in the US, the maximum allowed is 1:50.
Another key fact is that the company offers welcome bonus funds. Considering that the company is missing legal documents you can expect withdrawal issues. Especially if you accept the bonus offer.
Because mostly you have clauses preventing you from withdrawals. Important to realize is that the VanexFX scam broker offers bonuses of up to $3.000.
VanexFX Trading Features
One of the main advantages of this offshore scam broker is their trading software. In fact, they offer the most reliable option in the industry – Meta Trader 5. With this software, you can forget about manipulations with the data. However, if you will get a withdrawal it all depends on a broker.
Is VanexFX Legit?
In the first place, the company is not regulated. On top of that, there are no reviews about the company. This can only add more suspicions. On top of that, there are o legal documents and a withdrawal policy. Therefore, they are far from legit.
Available Trading Assets
Another key fact is that the company has quite a poor instruments offer. They offer only 3 main categories. But don’t let these things trick you, because some scam brokers can offer way more but still get everything from you. One of the examples you can find in our FinmaxFX review. Anyway, you can choose here between:
- Forex pairs – EUR/USD, USD/JPY
- Commodities – WTI Crude oil, Brent Crude oil
- Indices – DAX30, CAC40
Surprisingly, the company doesn’t have account type classification. Therefore, everyone gets the same trading conditions. Thus, the minimum deposit requirement is not revealed.
Mobile Trading App
Like any MT5 user, the company has the right to use iOS and Android apps. This is a great sign. However, with scam broker like VanexFX, you should avoid it.
As a matter of fact, the company claims to offer a demo account. However, to get access to it you must complete full registration. Generally, this is not recommended because you leave your details exposed to a scammer.
Generally speaking, regulated companies offer a variety of educational programs. Starting with blogs, webinars, seminars and even live trading sessions. However, the VanexFX scam broker only cares about your money. Therefore, you can forget about education here.
Vanex FX is one of those companies not offering a withdrawal policy transparently. Therefore, you can expect a variety of issues. Starting with AML laws, verifications, non-existent fees and taxes, but also many more.
To be honest, something like this is expected from offshore unregulated broker. For that reason, it’s important to understand the warnings from this VaneFX Review.
Another key warning sign is the VanexFX customer support. The company offers an Australian phone number but also e-mail. Thus, we believe that the phone number is VOIP service. Often used as a tactic to manipulate traders.
Also, the company claims to offer a variety of social media platforms. However, none of those don’t exist.
Key Information To Consider About VanexFX?
Primarily, the company is lying about regulations. On top of that, they are hypothetically registered offshore. Which means anonymous. Therefore, yo should avoid them at all costs. Especially once you realize that they don’t offer transparent legal documents and withdrawal policies.
In case you were defrauded by this broker, don’t hesitate to contact us. Most importantly, free of charge you can have the first consultation with our team. Getting your money back could be easier than you think. Get in touch today to find out more.
What is VanexFX?
VanexFX is an offshore broker operating since 2020 but without proper authorization.
Is VanexFX A Regulated Broker?
VanexFX broker is not regulated. Primarily, not domestically. But also they miss out on all the Tier 1 regulations. So, if you experience any withdrawal issues, contact us for assistance.
What Are The VanexFX’s Regulation And Safety Of Funds?
The company is not regulated by any trusted authority. Therefore, all of the fund's protection features they are promising are completely fake.