Victoria Coins Review – Should You Invest With Victoria Coins?
Victoria Coins is another anonymous trading company pretending to operate legitimately. They don’t reveal any ownership information on their website, nor any addresses or headquarters.
There are no reasons to believe in the legitimacy of this broker whatsoever. To find exactly why, read this Victoria Coins review.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||FMA|
|Headquarters Country:||St. Vincent and Grenadines|
|Supported Platforms:||Web trader|
|Cryptocurrencies:||Yes – BTC, LTC, XRP|
|Types of Assets:||Forex, Commodities, Indices, Shares, Cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
Victoria Coins Broker – Legit or Scam?
Victoria Coins company is based in St. Vincent and Grenadines (SVG). Since this offshore country doesn’t provide licenses for FX and CFD services, we need to look for their regulation elsewhere. The main difference between offshore Tier 3 regulators and Tier 1 regulators is in requirements. For instance, FCA, BaFin and ASIC are the strictest ones. Consequently, the most trusted.
Unfortunately, their database is empty upon searching for Victoria Coins scam broker. The benefits of having regulation are mostly related to clients’ security. So, if the broker doesn’t have it, that means that they don’t care. You can forget about features like negative balance protection or guaranteed stop loss. Not to mention segregated bank accounts for deposits or compensation funds.
Victoria Coins has no regulation and warning is issued against the broker. Non-transparent ownership and location information. Uncompetitive trading conditions and many negative reviews.
Financial Watchdogs’ Cautions
What we came across through the research are multiple warnings against this broker. Victoria Coins scam is well-known among regulators.
But the primary one that exposed this trading scam is the Austrian FMA. If this is not a clear sign to avoid this broker nothing will.
What Traders Are Saying About Victoria Coins
Even though reviews are often fake, if you see more than 75% of negative ones, something is not good. In fact, that’s exactly what Victoria Coins reviews are all about.
Of 36 traders that shared their experience on Trustpilot, almost 80% is not satisfied. Many complained about withdrawal issues and manipulated trading information.
Victoria Coins Software – Platform Comparison
Another key point to look at is the trading platform. Many traders get discouraged to trade with a broker if they don’t have the necessary tools.
With Victoria Coins scam broker that’s exactly the case. They don’t provide any trusted third-party software like MetaTrader or cTrader. On the contrary, it’s only a web-based platform without any advanced trading features. Not to mention manipulation potential.
Instead of providing a reliable mobile app to trade anywhere anytime, you can only access the platform through the browser. With such a poor design of this platform, we doubt its reliability and responsiveness.
With this in mind, you have many reasons why not to invest here. Better look for a Tier 1 regulated broker with a stable platform.
Victoria Coins’s Trading Assets and Instruments
Victoria Coins uses a wide instrument range to an advantage. However, a non-transparent broker with a suspicious platform is not something that can back up attractive offers. Anyway, their assets are divided into 5 major classes:
- Forex USD/CAD, GBP/JPY, EUR/SEK
- Commodities gold, platinum,
- Indices FTSE 100, Dow Jones
- Shares Alibaba, Cisco,
- Cryptocurrencies BTC, ETH, LTC
With their leverage of 1:400 and non-existent negative balance protection you have a perfect recipe for a disaster. The easiest way to get into a non-existent debt that will put pressure on you to make a bigger deposit.
Victoria Coins Countries Of Service
These offshore scam companies tend to scam anyone on their way. Some rich countries are their main prey. That’s why they are mainly scamming traders from:
- United States
It’s just a matter of time before this broker will be exposed by some other regulators.
Victoria Coins List of Account Types
The broker claims to provide a new age solutions. Account types names could present that, unless you dig deeper into the offer. Suddenly, you realize they are nothing different than any other scam.
They offer 5 account types:
- Trial – $250
- Passive income – $10.000
- Portfolio Management – $50.000
- Retirement – $100.000
- Heritage – $200.000
Can a Trader Use a Demo Account?
The only way of testing their services is by opening a live account. This broker doesn’t offer a risk-free option like a demo account or at least micro accounts.
If you want to risk your money here you can be our guest. However, if you want to make safe investments opt for a Tier 1 licensed broker.
Terms of Service for Victoria Coins
The most disturbing fact here is a transparent but unfair withdrawal policy. They charge insanely high fees up to 30%.
But also, they restrict traders from getting withdrawals unless they reached a certain trading volume. Not to mention the malicious bonus policy, where you can’t withdraw anything unless you made a 25 times bigger trade volume.
Important to realize is that the broker only accepts cryptocurrency payments. Whether from a wallet or third-party crypto exchanges, which makes them highly anonymous.
Leverage, Spreads and Fees
Their maximum leverage of 1:400 is violating all rules and regulations. With spreads from 7 pips on some pairs, you can see that this is a rip-off.
On top of that, the broker has included all possible fees. From overnight swaps to withdrawal fees. Nothing to motivate you to stay here. However, if you already deposited any money there is a solution.
Scammed by a Victoria Coins Broker? – We Want To Hear Your Story
Let us know first about your experience with this scam broker. Raising a voice collectively can prevent traders from getting into these scammers’ fishing nets. Since they don’t have regulation, your only solution is a fund recovery program.
However, cryptocurrencies are hard to trace. Especially for non-experienced traders. On the other hand, our specialized fund recovery team is equipped with the necessary software to trace cryptos – CipherTrace. Latest technology designed to find your money.
What Is the Chargeback Procedure?
If you were using a debit/credit card you can start a chargeback process. Maximum allowed time to start it is up to 540 days. But this is a crypto transaction. So once you trace it down you can start the necessary procedures.
Let the professionals guide you through the process. Get in touch with us already today. Don’t let these swindlers get away with your money. Book your free consultation here.