Vestapros Review – This Broker Should be Avoided at All Costs

You know how the saying goes – clothes don’t make a man and websites don’t make brokers. In the Vestapros Review, we will analyze a crooked scammer that managed to create an appealing website with fumbled content and broken links. Beyond all the errors lies a malevolent scheme. In order to avoid falling victim to this trickery, be sure to read this review.

Also, we recommend you not to invest in the fraudulent brokers Sato4x, Finero and Red Finance Capital. 

Vestapros – Regulated Forex Broker or Scam?

Our little deceitful vigilante got plenty of things wrong on its virtually anonymous website. Let’s address the elephant in the room, shall we? In the legal section, the fraudulent broker started listing financial market regulators without much cohesion and messed up badly. Take a look.

We already got the impression that this con artist is pretty ignorant regarding the matter. First of all, it’s the Financial Conduct Authority (FCA), not the Financial Services Authority. 

Secondly, if listing these authorities was supposed to imply that Vestapros operates under their jurisdiction, then the broker has gone bananas. To elaborate, the NFA, for example, only deals with entities based in the US, not outside its borders. Thus, it’s safe to say that Vestapros is unregulated. 

Vestapros is a fraudulent and unlicensed provider that is allegedly engaged in Forex, Crypto and CFD trading. This anonymous scam broker mainly targets traders from the UK, Australia, France and Belgium.

Why Is Trading With a Licensed Broker Preferable?

As mentioned, there’s no way Vestapros has a real license. Do you really think that such an anonymous broker has EUR 20,000 to cover clients in case of bankruptcy? Also, it’s highly unlikely that this fraudster is cooperating with a Tier 1 bank and storing clients’ funds there.

These are some of the preconditions brokers are required to meet by their respective regulators. Vestapros can only dream about it.

Fraud Warnings From Financial Regulators

There’s no mercy for outright scammers like Vestapros. It’s time to put this fraudster on full blast. Below, we’ve provided links to warnings issued against the broker by several financial markets authorities such as Financial Markets Authority (FMA), Financial Services and Markets Authority (FSMA) and Financial Supervisory Authority of Norway. Serves Vestapros right for trying to defraud traders.

Details About The Vestapros Trading Platform

Vestapros did a good job promoting a completely useless and ineffective platform. Come on, it’s a basic WebTrader, nothing special to see. Aside from some elementary features such as charts, there’s nothing there.

Furthermore, Vestapros denies you access to the platform unless you’ve registered a live account. Pretty shady if you ask us. On top of that, the provider is unlicensed, which eliminates the chances of secure and stable trading. Maybe even trading in general since the platform could also be manipulated to steal your money.

What Сan Be Traded?

Here’s what Vestapros claims to offer:

• Forex pairs;
• CFDs;
• Crypto.

Unsurprisingly, the phony broker was pretty vague in terms of the trading assets. Forex pairs, ok, we can guess what we’re getting, but CFDs? On what? Stocks, gold, coffee, crude oil, S&P 500? Crypto’s also undisclosed. We were left in the dark. We’re traders for cry’s sake, not Daredevil.

AnyDesk and TeamViewer – Access To Your Bank Account 

Picture this – Vestapros has gained access to your personal files on your PC. Data on your bank account is in the scammer’s hands. Enough, you get the point. 

That could turn into reality if you allow the broker to access your PC via AnyDesk and TeamViewer. These two apps allegedly serve as customer support but are really just means to defraud you.

Vestapros – Countries Of Service

From what we’ve gathered, Vestapros has a nick for traders from the following countries:

• Australia;
• France;
• Belgium;
• UK.

Fortunately, two of the four financial market regulators have issued warnings against the fraudster. Now, we hope it reaches traders in time. If you’ve been contacted by this scammer, be careful!

Also, avoid the trading frauds Tradereview, ImportCapital, and XTB Global at all costs! Moreover, before investing, always look into the past of internet trading firms!

Vestapros Account Types

This section on the website was messy but we managed to pick these types out:

• Bronze – $10,000;
• Silver – $25,000;
• Gold – $50,000;
• Premium – $100,000;
• Platinum – $250,000.

The scammer goes on about additional features, blah, blah. It’s all irrelevant given that the minimum deposit is a staggering $10,000. Vestapros is out of its scamming mind! No legitimate broker would demand that much.

About Leverage, Spreads, and Fees

Here’s the problem. The key aspects of trading were not revealed. We found in the legal section that the leverage caps at 1:300, well above the legal limit of 1:30 for retail clients. Spreads and fees will apparently remain unknown like the trading instruments. It seems that everything regarding Vestapros is vague.

High Minimum Deposit and Withdrawal Terms

As for the payment methods and terms, the minimum deposit, $10,000, is extremely overwhelming to even consider investing. The commission? 20%! Can you imagine? Withdrawal fees also won’t do you good.

From this, we conclude that the payment methods include credit/debit cards, wire transfers and e-payments. However, the last method was not specified.

Scammed by Vestapros Broker? – Let Us Hear Your Story

Being a victim of this scheme must feel terrible. Don’t despair, dear trader, there’s light at the end of the tunnel. By that, we mean two ways of getting a refund – a chargeback and a recall. Your chances may be slim but we recommend you try. In any case, we can help make things better by reporting the scammer.

But What Is A Chargeback?

• A chargeback is used to reverse credit/debit card transactions.
• It can be requested at the issuing bank within 540 days.
• A recall is the same thing but for wire transfers.
• If the transaction has been completed, the recall is bound to fail.