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VTindex Review – The Scam Behind VTindex.Com Broker
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|Leverage||Up to 1:300|
|Regulation||Unregulated Scam Broker|
|Headquarters||Saint Vincent and the Grenadines|
Right off the bat, we noticed that there was something awfully fishy about this dubious broker. You know what that means – VTindex Review incoming. It seems our fears were true, this provider is indeed engaged in terrible fraudulent activities. Do not be fooled by the lies found on its website or the visually appealing facade on it. We’re dealing with a scammer.
In this review, we shall address the troublesome legal background and status of VTindex as well as the poor trading conditions that disregard all standards. Therefore, let’s begin.
How Are You Protected at VTindex?
Let us tell you one thing straight away – the whole London address thing is bogus. This despicable lie can easily be exposed and we intend to do so. Below, you’ll see that VTindex is not registered with the UK’s Financial Conduct Authority (FCA), meaning the broker is a) unlicensed; b) probably an offshore provider; and c) extremely dangerous.
But wait! On the website, we found a statement claiming the fraudster is regulated by the authority from Saint Vincent and the Grenadines. We’re beginning to see the whole picture. SVG is a controversial Caribbean island known for its permissive tax system.
Also, the aforementioned regulator, i. e. the FSA, does not issue Forex licenses, rendering the claim of VTindex false. To sum everything up, this offshore broker is unregulated and therefore, a big threat to you and your funds.
Available Trading Software Overview
VTindex shamelessly promises clients one of the best platforms in the world of trading – Meta Trader 4. We got to admit, it’s one hell of a bait. Whoever is familiar with MT4 and what it brings to the table would certainly be intrigued by this. However, the sad truth behind this is that MT4 is not available. Yup, another hoax by VTindex. We’re starting to lose our patience.
Issues constantly keep popping up when attempting to access the MT4 download files. Therefore, it is impossible to confirm whether the financial swindler really offers the famous platform or not. Disappointing, to say the least, but we never expected much.
Nevertheless, if you’re searching for a legitimate broker, make sure you’ll get the aforementioned MT4 or even Meta Trader 5, its successor. These are the industry’s standards and they offer an array of advanced trading tools that will undoubtedly make your experience worth remembering.
Account Types Offered by VTindex
When it comes to account types, VTindex offers three different types:
- Starter – $500, leverage 1:100, spread 2.1 pips;
- Business – $500, leverage 1:200, spread 2.1 pips;
- Professional – $500, leverage 1:300, spread 2.1 pips.
Have you noticed it yet? Hmm, is it just us or are these account types pretty much the same? Except for the leverage, everything else is identical. We honestly don’t know what to think about this. Most of the time, scammers at least get this right.
Regardless, we are treated with leverage up to 1:300. Yet, on the home page, it says 1:5000. This is just proof that the broker is illicit. If it were really regulated in the UK, leverage would not have exceeded 1:30. As for the spreads, 2.1 pips is not competitive at all. It’s much wider than the industry’s standard of below 1 pip.
Market Instruments Traded at VTindex
According to the website of our little con artist, the following assets are available:
- Forex currency pairs – EUR/USD, GBP/JPY, USD/CHF…
- Metals – gold, silver, platinum & palladium;
- Indices – S&P 500, US 30, NIFTY 50…
- Commodities – coffee, wheat, corn, crude oil…
- Cryptocurrencies – BTC, ETH, DOG, ADA…
All in all, it’s a fair list. However, since the broker is unregulated and shady, we wouldn’t recommend trusting this list either. These instruments are worthless without a valid trading platform and conditions. Plus, your earnings will be left out in the open for VTindex to steal.
Deposit and Withdrawal Procedures
If VTindex’s website is to be trusted, clients can deposit funds via several methods, including credit/debit cards, wire transfers, e-wallets (Neteller & Skrill), and Bitcoins. However, the scam broker devoted no attention to any of the payment methods.
The minimum deposit, as mentioned, is $500. Sorry, but this is too much to risk with such a shady provider. Since it we were unable to open an account, verifying these payment methods was impossible. Therefore, we’ll just add this error to the list of reasons why VTindex should never be trusted.
How Do I Recover My Money If VTindex Scams Me?
If you’ve deposited money, it sucks. But don’t be ashamed of yourself, it could’ve happened to anybody. There are several ways of getting a refund, depending on which way you deposited funds.
First, you have a chargeback. This method is used to reverse credit/debit card transactions. It can be requested at the issuing bank within 540 days. Then, there’s the recall, a process of reversing wire transfers, also performed by the bank. However, it can only work if the transaction hasn’t been completed.
On the other hand, crypto payments can be traced to a wallet within a crypto exchange. It’s hard to do but possible. After that’s done, you can request a refund from the exchange. The scammer will remain anonymous but at least you have a chance of getting your money back.
If you have any negative experience with this or any other fraudulent broker, we would be grateful if you could share it with us.
- VTindex is a dangerous offshore provider based in St. Vincent and the Grenadines;
- The broker is unregulated and dishonest, falsely claiming to operate in the UK;
- MT4 is allegedly the platform in question but it was unavailable;
- The minimum deposit is $500;
- The broker’s account types make no sense.
FAQs About VTindex Broker
Is My Money Safe with VTindex?
Your money is not safe at all with VTindex because the broker is shady and unregulated.
Does VTindex offer Demo Account?
VTindex allegedly offers a demo account but it was impossible to open one.
What Are The Funding Methods For VTindex?
VTindex claims to accept credit/debit cards, wire transfers, Skrill, Neteller & Bitcoin.