Vault Markets Review – African Fraud Empties The Vaults Of Traders
The anonymous team running this online trading domain are allegedly experienced and passionate Forex professionals. With over 40 years of combined experience, they vow to bring you the best and most profitable trading conditions in the industry. Just from the sound of it, you can guess how honest they are about their platform.
Although seemingly regulated, the actual jurisdiction seems to be questionable and many website details are conflicting with the broker’s practice. Let’s discuss the details in this Vault Markets review.
|Regulated by:||Unregulated Forex Broker|
|Is This Company Safe?||Shady legal background doesn’t make this website safe for investing!|
|Known Websites:||vault-markets.com – not active
Vaultmarkets.trade – active
|Have Warnings from:||N/A|
|Trading Platforms:||MT4, MT5, Copy Trader|
|Deposit Bonus:||Up to 200%|
|Trading Assets:||Forex, Spot Metals, Commodities, Bonds, Indices|
|Free Demo Account:||No|
|How to Withdraw from This Company?||Withdrawals are not proven to be possible – better contact our legal advisors for help!|
Unverifiable Connection With Regulated Firm
As a desperate attempt to appear legitimate, Vaultmarkets (Pty) Ltd claims to be a “product” of a FSCA regulated entity – 1st Fintech Capital (Pty) Ltd. The relation between these two cannot be confirmed. If they were properly authorized, the company owning the website would exist in the mentioned register.
Another effort to fake legitimacy was made by involving another firm, allegedly regulated in Namibia. Karibu FX Financial Consultant Services Pty Ltd is not registered with NAMFISA – the jurisdictional regulator in this country. Not the premium regulator you’d want to supervise the trading portal you’re investing with, anyway.
Lastly, Neo Brokers International Ltd, not registered with CySEC, is an alleged Cypriot firm that is responsible for payment facilitation. All in all, the whole scheme could not be any more suspicious and less trustworthy.
Courts of Namibia are said to be in charge of dispute solving, so it doesn’t look like the firm is headquartered in South Africa at all! Better stay away, like you would from other unlicensed service providers like Everest Markets.
Misleading Online Content
The vaultmarkets.trade domain has been around since 2021, as you can see in the WhoIs database. It is mostly oriented towards these nations:
- South Africa
- United States
This company operates numerous social network profiles, including ones on Facebook, Instagram, X, LinkedIn and TikTok. They also use Spotify and YouTube streaming services, as well as paid adverts in google search results.
The firm may be seen on WhatsApp, and with many influencers from the area. These African frauds revolve around what is known as a Nigerian prince scam, where the swindlers ask for funds up-front in order to allegedly release a large payout.
Customers Are Not Happy
Nearly all of the comments on the TrustPilot online review platform criticize the company. This has brought the rating down to 1.5 stars, with 97% disapproval rate!
The firm has claimed the profile, and are trying to do some damage control, but to no avail. The people have spoken, and they all complain about denied payouts, assets being lost and the firm breaking communication.
Don’t let the same happen to you! Contact our chargeback experts today, and start fighting back for your money!
Trading Terms Without Regulatory Limits
While EEA traders may be used to the standard leverage of 1:30 at most, trading on this portal unlocks higher ratios of up to 1:1000.
Trading seems to be quite cheap, as starting spreads are advertised to sit at 0 pips for fancier accounts or 1 pips for cheaper account variants. However, this information is taken directly from the site, not the company’s trading server which is inaccessible.
200% Bonuses Included
The involuntary bonuses are added to specific account types as soon as you purchase them. These cash rewards are equal to 50%-200% of the deposited sum. Withdrawing the bonuses is not allowed, and the credited accounts can only perform a payout if they’ve reached the undisclosed trading volume requirement.
Deceptive Trading Features
Although the trading features may seem to offer numerous opportunities, it’s all just a case of misleading advertising. The Vault Markets platform is plagued with problems, one of them being the trading application. The deception continues with account types, and trading instruments.
No Reliable Trading Platform
Allegedly, the company offers MT4 and MT5 software to their retailers, which is only partially true. You see, only the MT5 app is actually available, and it only comes as the MetaQuotes demo version.
This demo is provided by the software’s developer, and is intended as a tech demonstrator rather than a true trading environment. Our attempt at downloading the proprietary copy trading software was blocked by our antivirus, due to a malware concern.
Mobile Trading Support
Although the MT5 is fully compatible with all devices, the company instead uses a proprietary Vault Markets app instead.
Inflated Number Of Instruments
The website advertises some 200+ currency pairs, 5+ cryptocurrencies, and indices, but the information differs in the client dashboard. This info is not credible either, as instead of the table of instruments, all you get are some tickers imported from TradingView.
The client dashboard contains these assets instead:
- Forex (EUR/USD, USD/CHF, AUD/USD, EUR/JPY)
- Spot Metals (XAU/USD, XAU/EUR)
- Indices (S&P 500, Dow Jones, DAX)
- Commodities (Crude Oil, Natural Gas, Corn)
- Bonds (T-Bond, Euro BTP, Euro BOBL)
12 Packages In Total
Each of the Vault Markets accounts are advertised as unique and specifically designed to meet every trader’s needs and trading preferences. The packages feature different amounts of bonuses and can also vary in terms of leverage and trading costs.
The bundles are quite affordable, with the cheapest requiring only a $5 deposit, while the most expensive one demands a $100 investment.
Absence Of Legal Policies
Funding operations demand separate legal papers that thoroughly explain how customers can perform these actions. No such documents exist on this website. The web presentation ensures clients that various transaction methods are supported:
- Credit Cards
- Wire transfers
However, the exact terms, processing time and fees involved are completely omitted from the general information.
No Support For The Clients
Contacting customer support seems simple, as there are many different channels through which the clients should be able to do so. The phone landlines don’t work, however, and neither does the email service. The website live chat is instead a contact form, and the users must rely on a WhatsApp general chatroom to resolve their issues.
Got Burned By A Scam? We Can Help You!
The fraudulent group behind this faux goes the length to imply a connection with a regulated company. The legal information, however, revealed that there is no genuine connection.
Nearly everybody who speaks up about this firm has only the words of critique to share, just like with the SvoFX scam. Feel free to share your story with us. With the help of our legal experts, you too can recover your stolen money!
Is Vault Markets Legit?
No, this entity only fakes legitimacy by falsifying connections with a regulated brand.
Is Vault Markets a Regulated Broker?
No, they’re not. As a matter of fact, their claims about licenses are false and they appear in no registers kept by prominent financial regulators.
How Do I Withdraw From Vault Markets?
Withdrawal terms are unknown. Please contact us promptly if you find yourself unable to take your money back.