Table of Content
ViaChains Review: Read This Before You Trade With ViaChains
Table of Content
ViaChains is a Forex broker that you should avoid. It’s an unlicensed broker that is anonymous and unregulated. ViaChains provides no corporate information and is associated with no registered companies, let alone licensed ones.
|Headquarters||9863 – 9867 Mill Road, Cambridge, MG09 99HT|
|Broker Type||Forex & CFDs|
ViaChains is a suspected scam, and we’ll explain why we believe so in the following ViaChains review.
Regulation and Funds Security
ViaChains is completely anonymous and most likely illegal. Most non-registered brokerages are linked with a company, with that being said, ViaChains is unregulated, which is a major red flag. The company that ViaChains is linked to, fails to show any information about itself, which in turn shows the lack of transparency with their clients, that can also be considered a red flag itself. Usually anonymous and unregulated brokers are fraudulent, which is why it’s highly recommended to stay away from ViaChains.
If you are still interested in Forex trading, you should only consider regulated brokers. For example, both CySEC (Cyprus) licensed brokers and FCA (Britain) brokers are proven to be safe, since both force strict regulations which guarantee safety for your funds. Both have compulsory rules which include client account segregation, leverage restrictions and negative balance protections, but most importantly both authorities maintain deposit insurance funds.
Trading Software Reviews
ViaChains claims to have a Internet-based trading platform, but unfortunately, there isn’t much information about the platform. Once you do sign up, what you get is an unstable platform that lacks several tools. In order to access the platform and open an account, you will need to make a deposit,usually you would be allowed to test out the broker’s platform before making an actual deposit. Many clients have confirmed that ViaChains trading platform is very lackluster and lacking many tools that can help clients.
Experts insist on using platforms that help you improve your skills. Platforms like MetaTrader 4 and Meta Trader 5 which are licensed and are industry leaders who are known for their stability and many sophisticated trading tools.
What Account Types Does ViaChains Offer?
After digging deeper into this brokerage we have discovered that the company doesn’t offer demo account. Before even opening an account you are required to make a deposit otherwise you are unable to proceed further.
The company claims to provide all the necessary services in a single account. However, our research has found that this is not the case. There is no information about account features available. There must be a hidden reason why the platform keeps vital information from their users.
What Can Be Traded on ViaChains Market?
Not much is known about the trading conditions ViaChains offers. The broker states that you would be able to trade Forex, and CFDs on cryptocurrencies, commodities, shares, and indices, but that’s about it.
There is nothing mentioned about important details such as spreads, deposit amount, account type, etc. – These are the things that every legitimate broker will provide you. Otherwise, you have no way of knowing if trading with a certain broker will turn out to be profitable or not.
Deposit and Withdrawal Process
There are several depository options that are available on the platform. These include wire and bank transfers.
The minimum deposit with ViaChains is unknown. With that being said, ViaChains is an unregulated and unauthorized suspected scam, so proceed carefully.
Information about withdrawals and fees are undisclosed, which is a crucial red flag as ViaChains is hiding the most important details from their clients. Furthermore, the alleged brokerage doesn’t provide legal documentations, which is completely illegal and the Terms and Conditions you agree on are unknown to you.
Many clients have had complaints about withdrawal issues, stating that the trading platform has been blocking them from making a withdrawal.
How Can I Get a Refund If ViaChains Scammed Me?
First and foremost, contact the authorities, contact the police and local regulators who deal with fraud. Second, deactivate your cards and inform your banks about the situation.
If you used your credit/debit cards, you can try filing for a chargeback, but be cautious about it, because many fraudulent chargeback agencies are waiting to double-scam victims of fraud.
Don’t feel ashamed and embarrassed about reporting a scam. Scams can happen to anyone. There is a possibility of getting your money back. Think twice and research before making any risks while investing money. If you have had any negative experiences with other fraudulent brokers, we would be grateful if you could share them with us and we could assist you by reporting your scammer.
- ViaChains is unregulated and anonymous.
- No information on spreads, deposit amounts or account types.
- Many complaints from previous victims about withdrawal issues.
- No legal documentation provided
- Making an account requires you to make a deposit
- Lackluster trading platform that lacks several of the necessary tools for successful trading.
FAQs About ViaChains Broker
Is ViaChains A Good Broker?
No, many previous clients have had withdrawals issues, in which the brokerage blocked all withdrawals.
What Are The Funding Methods For ViaChains?
Funding methods are bank and wire transfers. In case of issues, you can request a chargeback or a recall.
Does ViaChains Offer a Demo Account?
ViaChains does not offer a demo account, even before opening an account, you are required to make a deposit which does not allow clients to try out the trading platform before making an actual deposit.