Beware! Ventezo is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Ventezo is yet another offshore broker. The savvy reader will already know this means that the company is not worth their time – but should you need more proof, find it in the review below!
Ventezo regulation and security of funds
Ventezo claims the following about its regulation
So, is the broker regulated on the island republic of St. Vincent and the Grenadines? Well, no – the jurisdiction does not regulate its Forex markets at all. It has even stated so in an official press-release. This has led to the small country being quickly overrun with scammers of all kinds.
Contrast that to more thorough jurisdictions like the UK, for example – they have strict rules on what brokers should do to make sure they are transparent. One of them, just to give some context, is the obligation for brokers to report on a daily basis on open and closed trades, as to prevent any form of market abuse from taking place.
Always make sure that the broker you are to trade with is dully licensed, and by a responsible regulator at that!
Ventezo trading software
Ventezo claims to provide access to the Metatrader 4 platform – and there is a link available to download it, as you can see below:
However, the link is not functional – meaning that we cannot actually make use of the platform. This is a real shame, since MT4 is rightly regarded as the industry standard when it comes to trading software with powerful features like automated trading and much more.
Not being able to access Ventezo’s trading platform means that we cannot know what its spreads are – but we know that it offers leverage amounts of up to 1:1000, which are simply too much for retail traders! In fact, most brokers that offer such amounts are unlicensed, and are only doing so in a bid to attract more clients.
Ventezo deposit and withdrawal methods and fees
Ventezo has several deposit methods available – the Skrill and Neteller e-wallets, PerfectMoney and crypto payments are all viable means of investing with the broker. However, we suggest you get familiar with the chargeback options on the method you have deposited with – the broker is incredibly shady and does not mention what fees it charges.
What’s more, it offers bonuses bound with additional Terms and Conditions, but the link to review these conditions led to the following page:
The links on it are completely broken, of course – but considering that nine out of ten offshore brokers that offer bonuses bind them with conditions that make withdrawals practically impossible, we suspect getting your money out of Ventezo’s hands to be incredibly difficult, if at all possible!
How does the scam work?
It seems more likely than not that Ventezo is running a scam. And what’s more, we know exactly how this scam unfolds – we have seen it hundreds of times at this point. Here is how it all goes down:
First off, someone stumbles upon the website that the scammers run. On it, they are prompted to create an account, leaving a phone number in the process. Should they do so, the scammers will start harassing them endlessly, demanding one thing and one thing alone – deposits. No amount of money will sate their greed and the demands will grow more and more ridiculous. This goes on until the victim is squeezed dry or realizes they are being conned and stops depositing. At this point, the scammers will simply cease all contacts and move on to further targets.
What to do when scammed?
If you have been scammed by Ventezo, or another company like it, there are some steps you need to take to make sure that you do not suffer further losses.
First off, you should recall what IDs, credit cards and so on the scammers had access to – and get new ones issued ASAP. You should also remove any and all desktop sharing software they had you install, as they often use programs like TeamViewer to snoop around your PC without your permission.
Once your privacy is firmly reestablished, you need to think about getting your money back – the best way to do so would be by contacting your bank and explaining your predicament to them. Have the teller walk you through your available chargeback options. But, should you be contacted by a recovery agency, demanding upfront payments for its services, know this is nothing but yet another scam. Do not give them a dime!
Finally, do not be ashamed of falling pray to the scam – the people who run such schemes are ruthless and skilled manipulators. This means that everyone is vulnerable. Consider leaving your story in the comments section below – by doing so, you might protect someone from also getting scammed!
