ViaChains Review – Please Do Not Trust This Shady Broker
ViaChains Review – Please Do Not Trust This Shady Broker

Let’s make it abundantly clear – this is not a UK broker. Actually, it’s an outrageous cyber scam. We plan to expose this fraudulent phony broker in the ViaChains Review. It’s time to start spitting facts.

What is more, we strongly advise you not to invest in Equinox Markets, Bitsterzio and Lamelle Financial fraudulent brokers.

Broker status: Unregulated Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites:
Blacklisted as a Scam by: BaFin
Owned by: N/A
Headquarters Country: Cambridge, UK (allegedly)
Foundation year: 2022
Supported Platforms: WebTrader
Minimum Deposit: N/A
Cryptocurrencies: Yes – BTC, XPR, BNB…
Types of Assets: Forex, Crypto, Commodities, Indices, Stocks
Maximum Leverage: 1:300
Free Demo Account: Unavailable
Accepts US clients: Yes

ViaChains Is Not a Regulated Scam Broker?

Not at all. It seems that ViaChains lied about its official Cambridge address. After checking it, we found a software company, home service and an education center at that location. There’s no company behind the broker that would be a useful clue.

Could the UK phone number imply that ViaChains is actually valid? Of course not. To provide services in the UK as a broker, you have to be registered with the local Financial Conduct Authority (FCA). As you may have guessed, ViaChains is not.

ViaChains Register

ViaChains is an anonymous investment scam pretending to be a UK-based broker. ViaChains allegedly offers Forex, CFD and crypto asset trading but the broker is unlicensed and not registered anywhere.

Arguments For Trading With a Licensed Broker

The difference between unregulated and regulated brokers is that the latter will provide you with numerous benefits and security measures to ensure safe trading & transactions.

In the UK, for instance, the FCA requires brokers to possess at least 730,000 GBP as operating capital, to equip clients with negative balance protection, a compensation scheme (up to 85,000 GBP), leverage restriction (1:30), segregation of funds and transaction reporting.

A Warning Issued Against ViaChains

ViaChains Warning

It seems ViaChains got caught red-handed in Germany. Namely, the German regulator BaFin issued a warning against this illicit broker. That just confirms our claims about this being a scam. We also found countless complaints in German, which probably prompted the regulator to react.

Analysis of Customer Reviews Related to ViaChains

On Trustpilot, ViaChains had 18 reviews to its name at the time of this writing. All of them were in German except one. And that one eliminated all doubt:

One big scam!

 – Trustpilot user, October 14, 2022.

Furthermore, we checked and found another unfortunate victim of this scam who shared his experience:

Viachains, is a professional financial scammer and broker scam, please stay away from this platform. and don’t trust them at all. they stole 250 + 2200 € from me

Finance Brokerage user, November 15, 2022.

Description Of The Trading Platform Offered by ViaChains

Unsurprisingly, ViaChains, being the shady scammer it is, offers just a simple web-based platform. Known as WebTrader, this platform is pretty lackluster and doesn’t include advanced tools & options such as algorithmic trading, branch optimization, live market reports, API integration, etc.

Those features are found in Meta Trader platforms. To make matters worse, this WebTrader isn’t safe since ViaChains is unlicensed.

What Financial Instruments Does The Platform Include?

If you’re wondering what can you trade, you’ll find the answer on the website. But, it’s questionable. Since there’s no demo account, we weren’t able to confirm which instruments are available. Nevertheless, here’s an overview found on the website:

  • Forex pairs – EUR/USD, GBP/AUD, CAD/JPY…
  • Indices – DAX30, NIKKEI225, IBEX35…
  • Commodities – gold, crude oil, coffee…
  • Stocks – McDonald’s, L’Oreal, Google…
  • Cryptocurrencies – BTC, USDT, BNB…

ViaChains’ Fraud Risk Zones – Service Countries

Even from this review, you can conclude that German traders are the designated targets of ViaChains. We would also assume that UK traders are on the table.

It wouldn’t surprise us if ViaChains sprung its trap in other European countries as well. Luckily, the German regulator reacted to this threat to due numerous complaints.

Additionally, we strongly advise you to avoid the fraudulent brokers CMTPRO, SevenSeasFX, and XTB Global.

ViaChains’ Access to a Free Demo Account

As mentioned, there’s no free demo account available. Actually, there aren’t any account types whatsoever. That leaves us with a single live account with vague specifications.

Without a demo account, we weren’t able to check the trading platform, instruments or trading conditions. However, ViaChains created a promo code, which we assume it sends to those it plans to defraud to mark them. Monkey business…

The Importance of Legal Documents

When it comes to legal documentation, ViaChains only included a Privacy Policy. Yet, the text does not provide key information about the broker, its background, owner, business, etc.

The lack of documents implies that ViaChains does not implement Anti-money Laundering (AML) or Know your Customer (KYC) policies. Don’t get us started on the missing license.

ViaChains’ Terms and Conditions

There’s no T&C section. We find this extremely shady and inadmissible. Basically, you’re dealing with an anonymous bogus website that can trick you at any moment and vanish.

Hence, we don’t know which payment methods the financial swindler uses. Fees & withdrawal processing time are also a mystery.

Leverage, Spreads & Commissions

What about the trading conditions, i. e. leverage, spreads & commissions? Well, we found that the leverage cap is 1:300. Bear in mind that the legal restriction in the UK and the EU is 1:30 for retail clients. ViaChains’ leverage is really high and dangerous, i. e. could result in great losses.

As for spreads and commissions, we know nothing about them because we weren’t treated with a demo account to try things out. All in all, there’s reason to assume ViaChains won’t allow clients to trade at all. The fraudster will simply take the deposits and disappear.

ViaChains Broker Scammed You? – Please Tell Us Your Story

If you’re a victim of this vile scam, we would really appreciate you sharing your story with us. It’s important to raise voices against cyber frauds such as ViaChains.

Before we go, we would like to leave you with a brief explanation of possible methods of getting a refund. Depending on the way you deposited funds, there are several ways you could go about getting your money back. Give us a call if you need any help!

What Is the Chargeback Procedure?

  • Credit/debit card transactions can be reversed via chargeback. You can request a chargeback at the issuing bank within 540 days.
  • Wire transfers can be undone via recall but only if the transaction is not complete.
  • Crypto payments first need to be traced to a wallet within a crypto exchange before requesting a refund.
  • For e-wallet payments, you’ll have to contact the issuing company and see what to do next.

Here you can book a free consultation and find out what to do for a start.

What Is ViaChains?

ViaChains is essentially an anonymous investment scam lurking online. It’s not a licensed broker.

Is ViaChains a Scam Broker?

Yes. The broker is anonymous, unlicensed and above all, under investigation by BaFin.

Is ViaChains Available in the United States or the UK?

Yes. It seems that traders from both the United States and the United Kingdom can create an account.

Does ViaChains Offer a Demo Account?

No. There’s no free demo account available on the website. There’s only a promo code in the registration menu.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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