Volofinance Review – Volo.finance – Anonymous Trading Broker
Volofinance broker is one of the most anonymous that we analyzed recently. This broker doesn’t reveal any essential information. Yet, traders should trust their investments to such a shady broker.
Since they are providing FX and CFD trading services they should have valid licenses. But we will look at what is happening behind the scenes in this Volofinance review to show you reasons why not to trust this broker.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Headquarters Country:||UAE (allegedly)|
|Cryptocurrencies:||Yes- BTC, DASH, ADA|
|Types of Assets:||Forex, Commodities, Cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Is Volofinance a Scam Brokerage Firm?
Volofinance primarily doesn’t reveal where they operate. What we can find in T&Cs is that all legal acts should be under the jurisdiction of the UAE. Yet, they don’t have any licenses for trading in the UAE. In fact, they don’t have any. We did take a look at some Tier 1 regulators’ registers. In FCA, we couldn’t find any records of the Volofinance trading company. The same results were for BaFin and ASIC.
With this in mind, we can already see scam patterns. Clients don’t have any fund security measures. Starting with basic ones like guaranteed stop loss. Not to mention negative balance protection and compensation funds. Another dealbreaker is that they present themselves as the partner of Vlado brokers which is a legitimate Australian company. In reality, they are not connected at all.
Therefore, this broker is for avoidance at all costs!
Completely anonymous broker. They don’t have any regulations or fund protection measures for traders. Moreover, they don’t have transparent trading conditions and even a trading platform.
Volofinance – Trader Feedback on Brokerage Firm
Even though they have a high average rating on Trustpilot, the overall opinion is not good. One-quarter of reviews are with the lowest rating. Out of 49 total, that is a big number. But there are most probably many more that are not publicly available. As we can see in some Volofinance reviews, traders complained primarily about withdrawals. Additionally, they claim that the broker is hiding their reviews.
Volofinance Offers MetaTrader 4?
Volofinance trading company advertises Meta Trader 4 as their trading software. In general, that would be a great choice for traders. MT4 has multiple advanced charting and indicators options. Even advanced EAs are available. But not with this broker. Once you download the platform, you are redirected to Vlado brokers. Which doesn’t have to do anything with Volofinance.
This is just another misleading fact about this scam broker.
Volofinance’s MT4 Desktop And Mobile App
MT4 is one of the most trusted platforms. It allows traders to trade on any device. Whether it’s Windows, Mac, Android or iOS. Moreover, it doesn’t lose any functionality on mobile devices. That’s why it’s suitable for beginners and pro traders.
Volofinance ‘s Trading Assets and Instruments
The Volofinance broker is a bit short on the instrument’s availability. They only offer 3 different classes out of majors 5. But with scam broker like Volofinance, that is not even important. Anyway, those groups are:
- Forex USD/SGD, AUD/HKD, CAD/JPY
- Commodities natural gas, gold, crude oil
- Cryptocurrencies BTC, BNB, XRP
Some most fundamental trading assets like stocks and indices are missing. With this in mind, you should opt for a more attractive licensed broker. In fact, many of them provide access to way more instruments.
Volofinance Countries Of Service
What we see from Volofinance reviews is a scamming pattern. They are mainly scamming traders from:
- United Kingdom
- United States
- United Arab Emirates
Most of these countries have very strict trading regulations. Yet, the Volofinance trading company doesn’t comply with any of those.
Which Types Of Accounts Does Volofinance Offer?
Another mysterious thing about this broker are account types. Therefore, traders can’t see what conditions they get or how much it will cost. Which is quite ashaming for a broker presenting itself as a trusted one.
Not even the minimum deposit requirement is available on their website. This is one of the worst presentations about the company so far. But the goal is clear. They want you to leave your personal information. Consequently, they will pitch you for a bigger deposit on the first call. Don’t fall for these scamming tactics.
Can a Trader Use a Demo Account?
Since their Meta Trader account is non-existent, we can’t see if they have a demo account. Most probably not, because most things are fictive here. The only real thing is their scamming scheme. In fact, that’s why we suggest you look for a Tier 1 licensed broker.
Terms of Service for Volofinance
All T&Cs with this broker are questionable. Especially after checking any Volofinance review. They all report the same issues regarding withdrawals.
Moreover, they don’t reveal any funding methods available. That will tell you they are not up to good. But most likely they are using hardly traceable crypto transactions.
Leverage, Spreads and Fees
Scam companies often reveal at least trading conditions. Whether they are real or not, they are available. This broker doesn’t bother with that. You can’t see any trading conditions before you register and deposit funds. Which we wouldn’t do for 100 years with a such scamming broker. Rather keep your money safe and find a legitimate broker.
What Should I Do If I Have Volofinance Problem?
Since the Volofinance broker doesn’t have regulations, you can’t file a complaint there. Luckily, there are different ways to recover your funds. Let us know first what was your experience with this broker. Don’t let these guys get away with your hard-earned money.
Have in mind that for different funding methods, you have different recovery strategies. And we have to act quickly. Get back to us and let’s start your fund recovery process today!
What Is Volofinance?
Volofinance company is trading company that provides Forex and CFD trading services worldwide.
Is Volofinance a Scam Broker?
Yes. Absolutely. This broker doesn’t have any licensing to provide trading services.
Is Volofinance Available in the United States or the UK?
From Volofinance reviews we can see that they scam traders from US and UK.
Does Volofinance Offer a Demo Account?
No. Volofinance scam broker doesn’t even provide access to live trading accounts.