Beware! VisionFX365 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.

 

The VisionFX365 website assures us that it will be safe and profitable to invest in the financial markets through this broker. But these promises do not stand up to scrutiny. In this review, we will detail why you should never trust VisionFX365 with your money.

VisionFX365 Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
VisionFX365
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

If a financial services provider is legitimate, you will find on its website clear and detailed information about the company that owns and operates it, where it is based, and what licences it has. Genuine brokers also provide access to a comprehensive set of legal documentation. The availability of such information does not guarantee that it is not false or misleading. But the absence of these elements is very indicative that in all likelihood you are dealing with scammers.

VisionFX365 does not provide a contact address. According to the text of the Terms and Conditions, the company Vision FX Limited is based in Saint Vincent and the Grenadines (SVG) .

A check of the relevant registers shows that there is no company of that name registered in SVG. But even if the owner of this website is based there, this does not provide any guarantees for your funds. SVG is an offshore zone that does not regulate forex brokers.

The VisionFX365’s trading software is registered in the name of a different company, Maximus Global Marketing Ltd, which is allegedly based in Belize. This company is also behind another shady broker we have reviewed, Evolution Brokers.

The German financial regulator BaFin confirms our suspicions because it has blacklisted this website.

If you have decided to invest in financial instruments, and especially if you are a novice trader, you should use the services of a licensed broker based in a jurisdiction with strong regulations.

Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.

VisionFX365 Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
VisionFX365 MT5
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

As stated, VisionFX365 uses trading software registered in the name of a different company. It is the popular MetaTrader 5 (MT5) platform. Here is how it looks like:

It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

It is advisable to contact one of the many legitimate brokers that offer MT5 or the still very popular MT4. These platforms have established themselves as leaders because they offer a wide range of features, including a wide variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

On the website we also see links to download remote access software. Scammers often convince potential victims to install such software and provide access to their personal devices, supposedly to get technical help.

VisionFX365 Trading instruments

CurrencyStocksIndicesCryptoCommodities
VisionFX365
XMYesYesYesYesYes
FBSYesYesYesYesYes
FXTMYesYesYesYesYes

VisionFX365 advertises that it offers over 400 instruments across six asset classes, but provides no specific information. Legitimate forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc.

VisionFX365 Spreads and cost of trading

VisionFX365XMFBSFXTM
Spread EURUSD1.51.711.1
Spread GBPUSD1.51.31.21.4
Spread USDJPY1.51.31.21.4

In the trading platform, we see an industry standard spread of about 1.5 pips. But as noted, we have no reason to believe that this unregulated website offers any real trading.

VisionFX365 Maximum leverage

ForexStocksCryptoGoldIndices
VisionFX365200:1200:1200:1200:1200:1
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

After registering an account, we see that VisionFX365 offers a leverage of 1:200.

This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit leverage for retail traders. Higher levels of leverage are only offered to professional clients who trade entirely at their own risk.

If you are nevertheless willing to take the risk of high-leverage trading and want to take advantage of bonuses, promotions and prize games, the best option is to use the services of offshore brokers operating under an established brand.

VisionFX365 Deposit and withdrawal methods

VisionFX365 advertises multiple payment methods, but the deposit menu does not include various options and redirects to an account manager.

Experience has shown that fake brokers routinely advertise conventional payment methods, but actually steer their potential victims towards cryptocurrency transactions. This not only guarantees them anonymity, but also deprives the defrauded of the option to request a refund or chargeback.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.

If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

VisionFX365 Minimum deposit

VisionFX365XMFBSFXTM
Minimum deposit$250$5$10$5

VisionFX365 requires a minimum deposit of 250 USD. For such an amount you could open a trading account with a legitimate broker. Some of the leading brands in the industry offer beginner investors Micro accounts requiring a nominal initial investment.

VisionFX365 Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
VisionFX365Lots=Bonus/5Not specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

VisionFX365 has bonus conditions that are typically fraudulent. To withdraw funds from your account you must have traded a number of lots equal to the bonus amount divided by 3 or by 5. Different documents on the website state different values.

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