Vlom Review: Can You Actually Trust This Platform?

Vlom is an offshore Forex trading platform headquartered in Saint Vincent and the Grenadines (SVG). The website offers a custom-made web and mobile platform, numerous financial instruments, as well as high leverage. 

In reality, this brokerage has scam written all over it, just like FxxTrader… Read our Vlom Review to learn why you should avoid it or how to recover the funds you deposited. 

Legal Info: Is the Vlom Broker Regulated?

Vlom LTD is headquartered in SVG, a notorious offshore scam haven. The problem with SVG is that the local Financial Services Authority does not regulate Forex trading. This means that all non-banking entities registered in SVG operate unsupervised, which makes the jurisdiction a popular destination for cyber thieves.

Trading with unlicensed providers is one of the worst decisions you can make because you cannot possibly benefit from security perks such as negative balance protection, segregated funds, or a compensation scheme contract. 

You should find a regulated broker operating under the supervision of a reputable financial authority such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), CySEC (Cyprus), etc.

Who Are Vlom’s Targets?

According to godaddy.com/whois, the vlom.com website domain was created in 2001 but updated in January 2023. But trader reviews started appearing in 2020 so we assume that’s the year when the scam was launched. The main targets reside in the following countries:

• United States;
• Canada;
• Brazil;
• Slovenia;
• India.

The data from similarweb.com shows that Vlom’s website traffic has been gradually growing; the number of visits rose from 761 in July to 4.6k in September, which is problematic. Canadian users accounted for as many as 45% of the visits in the last three months.  

Each of these jurisdictions is unique in a certain way in terms of regulations. To reiterate once more, Vlom has absolutely no license to offer trading services, which is why it cannot legally operate in these countries.  

The financial swindler is not compliant with the regulations in force in these states. For instance, Vlom offers a maximum leverage cap of 1:400 whereas the legal limit in North America is 1:50 for retail clients.

Trader Reviews – Sharing Experiences

Whichever trading forum we checked, all we found were complaints and negative reviews, from 2020 onwards. On forexpeacearmy.com, defrauded traders go into detail about how they lost their money on the platform. 

There are also some allegations that Vlom is part of a larger criminal network. Many more negative comments can be found on scamadviser.com and forex-ratings.com so be sure to read some of them in order to get a better picture of how the Vlom Scam works.  

Please avoid trading on unregulated platforms and instead stick to licensed and transparent brokerage companies that provide safe trading conditions.     

Which Trading Platforms Are Available?

Vlom offers a custom trading platform, simply called VlomTrader. There is also a mobile version available for Android and iOS devices. We are unfamiliar with the software or its features. Since there’s no demo account option on the Vlom login page, we cannot check out the platform for ourselves.

Judging by traders’ comments, the platform is manipulated to make them lose money under suspicious circumstances. It’s a cunning trick used by many phonies, such as FxActive Broker, for instance. 

You ought to stick to licensed brokers that support credible and proven third-party trading software such as MetaTrader 4, MetaTrader 5, or cTrader. That way, you will be able to utilize cutting-edge tools such as automated trading and advanced charting.

Available Live Account Types

Leverage, Spreads, Commissions, Demo Account

The maximum leverage that Vlom offers is 1:400. High leverage allows traders to control larger positions with a relatively small amount of capital but significantly increases the risk of potential losses.

The spread for the benchmark EUR/USD currency pair is 3 pips, per the website. This is double the industry’s standard for the aforementioned trading instruments, meaning it is not competitive at all. Commissions weren’t disclosed.

To make matters worse, there is no demo account option. If you are a novice, you shouldn’t be risking real money straight away. Every legitimate brokerage firm nowadays offers a risk-free demo account. 

Deposit and Withdrawal Process

Vlom listed three available payment methods that can be used to fund live accounts:

• Credit/debit cards;
• Wire transfers;
• Bitcoin.

The website mentioned that the minimum deposit requirement is 100 EUR and the minimum withdrawal requirement is 50 USD.

In that case, you should know that funds deposited via MasterCard or VISA credit/debit cards can be refunded via a chargeback, which can be requested at the issuing bank within 540 days. 

Wire transfers can be reversed via a recall but this action can only work for transactions that are not yet complete. As for Bitcoin payments, you’re going to need professional assistance to get your money back.

Key Facts To Consider About Vlom

To sum up, Vlom is an offshore Forex trading platform that defrauded many unsuspecting traders. This website mainly targets users from the US, Canada, India, Slovenia, and Brazil.

We do not recommend this platform because it is unregulated. In case you’ve already deposited funds into your account, you must seek our professional help to recover your money!

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the chargeback process and assist you every step of the way.

Book your consultation with us today and start the chargeback process.

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