VIG Investment Review – Lies Behind This Scam Broker
As soon as we entered the shady website, we got an in-your-face message saying the VIG won the Most Transparent Broker 2021 award. Oh, the irony. We haven’t even started doing the VIG Investment Review. Let’s get that lie out of the way.
There’s a lot to unpack in terms of the scam broker’s legal background so let’s not waste precious time. You’re about to learn the whole truth.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Vanguard International Group|
|Headquarters Country:||The British Virgin Islands & Hong Kong (allegedly)|
|Minimum Deposit:||100 USD|
|Types of Assets:||Forex, Indices, Commodities|
|Free Demo Account:||Unavailable|
|Accepts US clients:||Yes|
VIG Investment Has No Forex License And Is a Fraud?
Chapter one – imposter US operator. VIG Investment claims it does business within the Vanguard International Group, which is supposed to be registered with the US National Futures Association (NFA), number 0538237. How about not?
Chapter two – British Virgin Islands. Oh, so now VIG Investment fancies being an offshore provider? We found that in the “About” section. However, that’s not the case either, per the island’s local regulator.
Chapter three – Hong Kong address in the “Contact us” section. We’ll let the local Securities and Futures Commission (SFC) have the final say. As expected, there’s nothing on poor VIG. Furthermore, this broker couldn’t possibly be registered in Hong Kong since the SFC had banned CFD trading.
VIG Investment is a fraudulent and dishonest broker that lied about its legal status and address. The broker allegedly provides Forex and CFD trading while targeting people from the United States, Canada and Czechia.
Why It Is Better Not to Choose An Unlicensed Broker
Most transparent broker our foot! VIG Investment is not licensed at all. Therefore, every single penny you invest is bound to be embezzled.
If you don’t want this to happen, you have to ditch VIG altogether and find a reliable and regulated broker. Our choice would be a license issued by the likes of the UK’s FCA, German BaFin, Australian ASIC or Cypriot CySEC.
If you’re from the US, your provider has to be registered with the NFA and the CFTC. Keep in mind that these two authorities are probably the most demanding in the world.
VIG Investment Offers MetaTrader 5?
Quite a clever hoax. VIG keeps advertising Meta Trader 5 but fails to deliver. The only available file is a decomposed trial version of MT5, not the real deal.
MT5 is arguably the best trading software in the world. Its cutting-edge tools include automated trading customization, branch optimization and API integration, among other features. As such, it will undoubtedly lure traders.
MetaTrader 5 for IOS and Android
If the desktop version is weak, then imagine the atrocity that is the mobile counterpart. Regardless of whether it’s for iOS or Android, the platform is fake. By the way, even the legit MT5 is not that great on mobile phones. There are issues that traders outlined in online reviews.
MetaTrader 5 Web Trading
Disregard the MT5 in the title, this is nothing but a WebTrader. Yes, the boring washed-up platform only has the fundamental options. Also, it’s the one that scammers manipulate all the time. We wouldn’t recommend it.
VIG Investment Assets – Instruments Types
When it comes to trading assets, VIG provided a comprehensive list with details. We’re going to list a few example instruments for the sake of the review:
- Forex pairs – EUR/USD, NZD/JPY, CAD/CHF…
- Indices – AUS200, FRA40, NAS100…
- Commodities – natural gas, copper, gold, coffee…
We got to give it to VIG on this one. However, such a carefully compiled list can make traders forget the whole shady business of the scammer. Don’t forget you’re dealing with an unregulated broker.
Where Does VIG Investment Engage In Fraud? – Countries Of Service
We did our research. It’s time to unveil our findings. Namely, VIG mainly targets unsuspecting traders from the following countries:
- United States;
- Czech Republic.
We already proved that the US registration is fake so be careful not to fall into the scammer’s trap. After all, these fraudsters can be really persuasive at times.
What Are The Different VIG Investment Account Types?
There are no account types on the website. When we entered the menu, all we found were the steps to creating an individual account. Shady to say the least. VIG seems to be eager to get its hands on your personal documents.
Free Demo Account – Does The Broker Offer It?
No. We couldn’t find it anywhere. Therefore, we’ll just write that down as another in the long line of red flags. Nevertheless, we didn’t expect such a fraudulent entity to provide a demo account. On the other hand, every legit broker has a free demo account option.
About Leverage, Margin, Spreads, and Fees
Leverage caps at 1:400 for Forex, according to the website. Only an offshore provider would dare do this. Regulated entities have to respect the 1:30 (UK, EU, Australia) or 1:50 (US, Canada) legal limit for FX major pairs.
As for spreads, VIG boasts tight spreads, but we don’t know how low. But it doesn’t really matter at this point. Everything else is unfavorable. Fees are a mystery.
What Is The Minimum Deposit and Methods of Withdrawal?
The minimum deposit is 100 $. That’s actually how much VIG is after. Once you deposit, the scammer will take it and disappear, never to be seen again, at least not in the same form.
As for the payment methods, VIG Investment only accepts wire transfers and US Tether, i. e. cryptocurrency. The latter is the weapon of choice of most fraudulent brokers because they can keep being anonymous while running their foul scams. This deposit should be made via a website called CoinPayments.
Scammed by VIG Investment Broker? – Allow Us to Hear Your Story
We understand your frustration if you’ve fallen into this vile trap. Don’t despair. Trading is full of ups and downs. We can help you get your money back. The method of getting a refund depends on the way you deposited the funds. Consider a recall or crypto tracing.
A Recall? Crypto Tracing?
- Wire transfers can be reversed via recall.
- This action can be requested at the issuing bank but only if the transaction isn’t complete. Thus, you must act quickly.
- Crypto transactions are considered irreversible, but that’s not the case. They can be traced to a wallet within a crypto exchange.
- If you know which wallet it is, you can request a refund from the exchange. It won’t reveal the scammer’s identity but you could get your money back!
Here you can book a free consultation and find out what to do for a start.
What Is VIG Investment?
VIG Investment is a fraudulent broker that allegedly offers FX and CFD trading.
Is VIG Investment a Scam Broker?
VIG Investment is definitely a scam broker given all the lies and irregularities. There’s no regulation in place for VIG.
Is VIG Investment Available in the United States or the UK?
VIG Investment is available to traders from both the UK and the US. In fact, the scammer targets the latter group.
Does VIG Investment Offer a Demo Account?
VIG Investment does not offer a demo account anywhere on its website.