VitalityTradings review – 5 things you should know about vitalitytradings.com

VitalityTradings review – 5 things you should know about vitalitytradings.com

Rating: 1

Beware! VitalityTradings is an offshore broker! Your investment may be at risk.

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Immediately upon entering the website of VitalityTradings we were welcomed by blurry images, slowed loading processes, and a website structure that left us confused and somewhat aghast. The website does not offer too much on its website. Everything seemed rushed, and nothing seems trustworthy. Read our review of VitalityTradings for more insight.

Creating an account did not take us more than 10 seconds, and thankfully we received a confirmation email to help us activate our account. When we clicked on the link it redirected us to the website, and after a couple of seconds, we were in a user area that was shockingly bad. The whole thing was half empty, and there was barely anything to do! However, by far the biggest blunder pulled by the company is the complete lack of a trading software. We will discuss this in a second, but it really is that bad. There are no trading conditions at all! No spreads, no leverages, no financial instruments. Nothing!

The website is only available in English.

VITALITYTRADINGS REGULATION AND SAFETY OF FUNDS

The Terms and Conditions drop on us the typical scammer broker clause, stating that the services of the firm are available only there where it is legal to do so. There are no further details as to the jurisdictions, or any ruling regulators or authorities. The ambiguity of it all is typically for brokers that do not have a license, and try to conceal this through rhetorical statements.

Further down the term, we learn that the company is not really appropriate to be used in jurisdictions outside of the United States. Let us explain to you the FX situation in the US. In the country, there are two FX license issuers, the CFTC and the NFA, two top regulators, arguably the best in the world. Their requirements are so stiff and austere, that only a handful of brokers can meet them, which is the reason why there are a dozen or so FX companies operating within the United States. We are 110% sure that VitalityTradings is not one of them. It can barely keep its sloppy website from glitching out, let alone abiding by draconian guidelines!

There is no further regulatory information that is worth mentioning here. The broker is completely and without a doubt UNREGULATED, a risk to all investors, and a scam!

We always say that investing in unregulated brokers is a sure way to lose money. The first and foremost thing to do when picking a broker to invest in is to look for a license. Preferably look for FCA or CySEC regulated brokers, or other European watchdogs, or US ones. All legit regulators have long lists of rules and prerequisites that all brokers must abide by. Not doing so, will lead to penalties or foreclosure! Furthermore, many regulators have in-store financial compensation schemes for all users under licensed brokerages. For example, CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.

VITALITYTRADINGS TRADING SOFTWARE

The closest thing to a trading software is a third-party chart in the registered user area, which does nothing but look good. All the assets and values that flicker on it are irrelevant to both users and the broker itself.

On top of that, the website holds no platform information. To put it straight, VitalityTradings does not have a trading software!

Instead, the website hints a the presence of investment packages, which are very popular among the scammers nowadays!

The just of it is that users deposit a certain amount, and in return they expect an illogical profit. The concept is very attractive, and that is why this scam is so popular.

VITALITYTRADINGS DEPOSIT/WITHDRAW METHODS AND FEES

The only payment method that we saw in the user area was through a Bitcoin wallet, which is by far the riskiest of all payment methods, especially in the FX broker industry. Payments made through cryptocurrencies are untraceable, and thus can be lost forever if the user is not careful. There is no minimum requirement for investing. Although the website claims the minimum deposit to be $500 for the first investment package.

Users can withdraw through a form, that asks of them the payment method, amount, and email. There is no guarantee that the withdrawal will actually go through, and we really doubt that it will!

Do not invest in this scam. You will regret it!

How does the scam work?

Online ads are the gateway to most investment scams. Ads that seem extravagant with quite impossible promises are most certainly the entry point into a scam. Gibing into one of these ads is the first step to being scammed.

The second step is to deposit. Once users click on the ad, they will be redirected to a scammer broker site or an intermediary website. What follows is a registration, where users will be asked to provide a phone number or a phone number.

Next, the scammer will directly contact those that have fallen for it. The first calls are made by the first level of fraudsters, the rookies. Their one and only goal is to compel users to deposit for the first time. Once a deposit is made, the user is hooked onto the scam.

The second wave of scammers, the core of the fraud, sometimes called “account managers”, will try to keep you invested in the shame for as long as possible. They might even pay some profits, just to keep you invested. The user will deposit an additional 2-3 times, which is actually the perfect scenario for these criminals. At some point, the user will realize he or she is in the middle of a scam

There are no more steps to the scam. The user has deposited as much as he or she did, and the fraudster have disappeared. The money is gone, and users cannot withdraw.

What to do if scammed?

If money was lost through a credit or debit card, the good news is that most credit card companies have an easy way of recovering money. Furthermore, MasterCard and VISA have a chargeback period of 540 days.

Wire transfer frauds, that is broker/investment scams, are harder to recuperate, but not impossible. The crucial thing to do is to change your bank account username and password! Aside from that, we advise users to contact their banks, because most banking institutions might have a plan on how to deal with money lost to investment scams!

Never invest in unregulated brokers through any sort of cryptocurrency wallet, no matter how good the returns sound! Crypto deposits are untraceable!

The last scam that users might stumble upon is in fact most of the time one that has nothing to do with the investment scam, although a potential relationship between the two is not excluded. We are talking about the so-called recovery agents or agencies. These will claim to be able to recover lost funds in return for a fee. After users pay this charge, they can kiss their money goodbye!

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