Beware! Access viptrade options24 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.

 

Access viptrade options24 wants us to believe that it represents a credible forex broker, but does not provide us with good reasons to do so. This website is actually nothing more than yet another online scam. In this review we will show you how to tell the fake brokers from the real ones.

Access viptrade options24 Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
Access viptrade options24
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

The most important information about a financial services provider is its regulatory status. Licensed brokers provide detailed information about which company runs them, where it is based, which jurisdictions it is authorised in and which regulatory bodies oversee its activities.

The company Access viptrade options24 LTD is listed as the owner of the website. A partial contact address in the United States is provided.

However, this company is not among the small number of brokers authorised to operate in this highly regulated jurisdiction.

Regulators in another major financial centre, the United Kingdom, have blacklisted Access viptrade options24.

Access viptrade options24 does not provide access to a Client Agreement or Terms and Conditions that meet the standards for such legal documentation.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the 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.

Access viptrade options24 Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
Access viptrade options24 platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

After registering an account, we only get access to a very rudimentary web trading platform. The platform in question looks more like an imitation than real trading software.

But even if Access viptrade options24 had a more convincing platform, that would not make this website credible. Fake brokers use rigged trading software to mislead their victims that their money is really being invested. But this trade is entirely sham.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Access viptrade options24 Trading instruments

CurrencyStocksIndicesCryptoCommodities
Access viptrade options24
XMYesYesYesNoYes
FBSYesYesYesYesYes
FXTMYesYesYesYesYes

Access viptrade options24 has neither the legal authorization nor the credible software to truly facilitate trading in financial instruments. With the availability of numerous licensed and proven forex brokers, there is no reason to risk your money with such a shady website.

Access viptrade options24 Spreads and cost of trading

Access viptrade options24XMFBSFXTM
Spread EURUSD0.611.1
Spread GBPUSD1.31.21.4
Spread USDJPY1.31.21.4

This alleged broker does not provide any information about the trading conditions it claims to offer. Genuine forex brokers provide detailed information about the trading conditions. Legitimate companies also offer different account types to suit clients with different experience, capital and investment intentions.

Access viptrade options24 Maximum leverage

ForexStocksCryptoGoldIndices
Access viptrade options24
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

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Access viptrade options24 Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Crypto24 hours24 hoursFee depends on crypto

We weren’t at all surprised that the only payment method accepted by Access viptrade options24 is Bitcoin.

Cryptocurrencies are the payment method of choice for most financial scammers. The reason for this is that on the one hand cryptocurrencies provide a degree of anonymity and on the other hand they do not allow the defrauded person to ask for a refund.

While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Access viptrade options24 Minimum deposit

Access viptrade options24XMFBSFXTM
Minimum depositN/A$5$10$5

The leading brands in the industry offer beginner traders starter accounts with a very low minimum deposit. You have no good reason to take chances with shady brokers like Access viptrade options24.

Access viptrade options24 Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
Access viptrade options24Not specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

Since Access viptrade options24  does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *