VintageMarkets Review – Fraud Aiming To Rob Investors
VintageMarkets review inspects the way the broker operates and what it offers, so keep reading to find out more.
VintageMarkets website appears to be out of function at the time being. Broker might have disappeared entirely with all clients’ funds. The site itself is owned and operated by Vintage Markets Limited, a firm based in Cyprus.
One of the claims by VintageMarkets was that the company was licensed by Cyprus Securities and Exchange Commission.
Apart from supposedly owning a license from CySEC, VintageMarkets offers a safe trading environment, crystal-clear transparency, personalized trading and team of professionals as customer support.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Vintage Markets Limited|
|Supported Platforms:||Web Based|
|Minimum Deposit:||250 USD|
|Cryptocurrencies:||Yes (BTC, ETH, LTC)|
|Types of Assets:||Currency Pairs, Commodities, Stocks, Indices, Precious Metals, Crypto|
|Free Demo Account:||Not Available|
|Accepts US clients:||N/A|
Lies About CySEC Regulation
CySEC is one of the leading financial authorities in the EU when it comes to regulating forex and CFD brokers.
Since VintageMarkets makes a statement about being regulated by CySEC, we had to confirm this by checking the regulators database of licensed entities. The search result provided no entries for VintageMarkets. This means the broker is making a false claim about being authorized by CySEC!
Some of the conditions brokers have to meet to be regulated by CySEC is the minimum amount of operating capital being 730 000 EUR, leverage restriction of 1:30, compensation fund of 20 000 EUR for every customer and guaranteed safety of investments by having segregated accounts.
The fact that VintageMarkets fails to be licensed by CySEC, we cannot confirm they respect any of the strict regulatory criteria required and for that reason cannot be trusted.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Regulated brokers provide a trading platform that is fully functional and allows buying/selling instruments on various markets. Licensed brokers do not use the trading software for the manipulative purpose and to deceive traders.
Healthy and safe trading environment is provided, unlike the non-regulated broker’s deceptive trading terminal. Acclaimed brokers help you build up your own trading strategy that can bring profitable results, as the trade is actually happening and you have the chance of accomplishing your trading goals.
Is Vintage Markets a Legit Broker or a Scam?
VintageMarkets operates under the pretense of being regulated by CySEC. This is not a truthful claim as VintageMarkets was never licensed by CySEC and it does not appear in the regulators register of licensed brokers. Do not trust this broker’s claims easily.
Does Vintage Markets Offer MetaTrader4?
VintageMarkets promises the MT4, but only offers a basic looking, web based trading terminal. Needless to say, it lacks the complex features and the reliability of the best platforms today.
There are some customizable charts and adjustable options offered. However, this is only a vague resemblance of what MT4 can offer.
VintageMarkets advertises MT5 too, but provides no access to it.
VintageMarkets Range of Trading Markets
VintageMarkets offers several tradable asset groups. Instruments are presented as following:
- Currency pairs (EUR/USD, USD/GBP, EUR/GBP)
- Commodities (Oil, Coffee, Cotton)
- Stocks (Apple, Tesla, Facebook)
- Indices (UK 100, AU200, JPY 225)
- Precious Metals (Silver, Gold, Platinum)
- Crypto (BTC, ETH, LTC)
Bonuses or Withdrawal Problems
Scammers tend to offer trading options and bonuses to attract the attention of new investors. Bonuses are designed to come with strings attached. Some of them are high withdrawal fees or trading requirements. All these conditions are hard to meet, almost impossible, which is exactly why phonies implement them.
Withdrawal conditions are undisclosed, another reason why not to trust VintageMarkets.
What Is Known About VintageMarkets’s Trading Conditions?
VintageMarkets would try to convince you they provide incredible trading conditions. Some of them are a fast trading platform, deep liquidity, access to hundreds of instruments, supportive staff and highest safety measures.
While these conditions are acceptable, do not trust them easily, as they are advertised by an unlicensed broker. Attractive trading conditions are how they capture the attention of a next potential victim.
Details About Leverage and Spreads
Leverage of 1:30, how much VintageMarkets has, is imposed by EU and AU regulators as well, as one of the risk-reduction measures. Without a regulation, it doesn’t really have to mean the broker actually respects this as maximum leverage.
EUR/USD spread starts from 0.1 pips and the trading commission is just $12 per lot per trade. If this is the factual state, the offer isn’t bad, but regulated brokers still offer better conditions.
VintageMarkets Minimum Deposit, Withdrawal Terms
The minimum amount required to be deposited before starting to trade is $250. Although the sum is not too high, so many other brokers will allow you to trade with a lot less. Famous global brokerage sites will often allow users to trade after depositing just $10.
VintageMarkets doesn’t reveal the necessary information about withdrawals. How the process is initiated, required documents or time estimated to process the request. Be aware of potential fees and commissions, as well as trading volume requirements that are characteristic for fraudulent schemes.
Methods of Making a Deposit
Methods mentioned as accepted for depositing are credit and debit cards (Visa, MasterCard), bank wire transfer and E-wallet like PayPall, Skrill, Sofort. However, the trading area makes it clear only crypto is accepted.
Crypto depositing is widely spread among scammers that want to stay anonymous. These frauds keep their virtual anonymity this way, yet make it hard for customers to chargeback. Recommendation is to avoid depositing in crypto, credit/debit cards allow safer depositing and possibility of chargebacks.
Scammed by VintageMarkets Broker? – Let Us Hear Your Story
Scams are happening on a daily basis in the online trading community. The number of phony brokers with extraordinary conditions for trading is at a constant increase.
That’s why it’s crucial to exchange information and experiences. If you have been scammed before, please don’t refrain from sharing your knowledge with us. Reporting an unscrupulous scheme will perhaps save the next investor from becoming their victim.
But What Is A Chargeback?
Chargeback refers to a process of requesting your invested funds to be returned. In case of fraud, reporting the event to your bank is the first step. If you have deposited via credit/debit cards, it is still possible to get your money back.
These depositing methods are preferred because you can still request a refund. The timeframe in which the chargeback is possible within 540 days after the moment you made the deposit.
We can provide additional help by helping you report the scammer and start the chargeback process.
What Is VintageMarkets?
VintageMarkets is an offshore trading scam with a non-functional website at the moment.
Is VintageMarkets a Scam Broker?
Yes, without being regulated and operating with the goal of defrauding clients, VintageMarkets is considered a scam.
Is VintageMarkets Available in the United States or UK?
Since the website is out of function, this cannot be confirmed or denied.
Does VintageMarkets Offer a Demo Account?
No, VintageMarkets does not offer a demo account, you have to fund a live account to trade.