Thinking to invest with VS FX broker or scammed by them? Please Read this VS FX Review to understand if it is a scam or genuine broker
VS FX is one more suspicious broker that claims to be regulated in Australia. According to ASIC, its regulatory status is abnormal and is revoked. It has been verified that this broker currently has no valid regulation. So, there is a chance of risk!
The broker is situated in the United Kingdom and is owned and operated by VS FX FINANCIAL LIMITED. The website of VS FX is https://www.verasouls.com/en/ which shows a very low trust score. Apart from the website, there is very little information available about this broker on the web, like its email, i.e., firstname.lastname@example.org.
When was the VS FX website domain set up?
|Date Registered||April 29, 2022|
|Domain Age||9 months, 20 days, 28 minutes, 44 seconds|
Having the potential to make someone go into a debt trap, scammers lure their victims in with irresistible offers and discounts. In this segment, we will be telling our readers about a few important points that you must look for in a broker before opening an account with them. Remember, nobody has a right over your money. VS FX is found to possess some or all of the following traits of a scam broker. Please read them below and verify with Verasouls.com.
VS FX Review: Red Flags
Investment scams such as Forex trading scams, Binary trading scams, Romance scams, Cryptocurrency scams and others are harder to spot. But still there are signs. Here are some red flags why VS FX is suspected as scam broker.
VS FX Review: Is VS FX Regulated?
VS FX is unregulated, which is a major red flag against the broker in this VS FX review. Mostly, unregulated brokers offer investment opportunities that look and sound very attractive, with the highest potential gains. Sometimes, they share fake information about the regulation, but true information is consistently available through the regulator’s sites, so analyze it cautiously.
It means a lot to give more profundity concerning where and how the broker is regulated, where they reside, and who owns the business. Many brokers have more than one authority to supervise them, but some brokers do not have any. You should avoid such brokers, as they are a threat to your money.
Check out more unregulated and untrustworthy scam brokers in our Scam Broker 2023 list.
VS FX Review: Deposit and Withdrawal Issues
Scam brokers convince customers that because of some technical problem they can’t access their accounts. They might utilize the accompanying strategies:
- Will charge high withdrawal expenses.
- Will forcefully encourage investors to make additional trades.
- Stop communication.
If Verasouls.com is doing any of these things and not allowing fund withdrawal, contact us today.
VS FX Complaints
The broker does not even have trading software which is a major warning sign. The broker gets many complaints and negative reviews from its clients, like how they are unable to withdraw their money after depositing. According to investors, it’s a fake platform and the customer service used various excuses to delay withdrawal.
According to one review in WikiFX – “Bond was unable to withdraw funds at the end of July, and it was delayed until mid-September. He said that he would change the broker and transfer the funds to Wasion. It still could not withdraw funds until November 22nd, and I have called the police to collect evidence.”
A decent enhancement to this kind of search is our scam brokers 2023 list, which indicates who scam brokers are and why you should avoid them. Acquire a more clear comprehension of the guidelines for forex brokers and any other brokers.
Is a Minimum Deposit permissible?
The minimum deposit is generally asked in very small amounts by legitimate brokers as taking huge amounts as the minimum deposit is not advised by the regulations. However, the tradition of taking huge minimum deposits is extremely common in scam brokers as their main aim is to steal as much money as they can from the trader before they get suspicious. The usual amount asked by legitimate brokers lies in the range of $5 to $10. If the broker asks for an amount more than the average, chance of a scam.
How to avoid getting scammed?
- Look at the broker’s experience and regulation status.
- Check whether the broker is included on the scam broker list of major regulators like FCA, FMA, ASIC, SEC, etc.
- Do all necessary investigations! Read scam broker reviews to get better information about brokers.
- Ensure the broker has contact details like email, telephone contact, address, etc.
- Try not to trust commitments of heavenly returns.
Is VS FX Legit or a scam? Final Thoughts
Sometimes scammers are increasingly using legitimate firms’ details to add an air of legitimacy to their scams. The fraudsters will ‘borrow’ some information from a legitimate firm for the purpose of fraud. They may quote authorization numbers/company registration numbers and links to seemingly legitimate websites and even provide the real address of an authorized/ legitimate firm.
Consumers are advised to check our scam broker 2023 page to verify company details and to call the firm back directly using its advertised phone number. Always access the register from our website, rather than through links in emails or on a company/ person’s website.
To sum up, all that has been said above in this VS FX review, we give you the power to decide whether the broker is a scam or not. We request the readers move forward with extreme caution.
Scam Victims Help specialists research the brokers and find if they are involved in scams. We researched a lot about brokers to assist customers in taking the right decision.
We suggest investors stay away from this broker and go for the genuine one. If you have been a victim of VS FX scam or any other broker, do not feel embarrassed.
Victims of forex scams, cryptocurrency scams, binary scams, pet scams, dating/romance scams, or any number of scams should raise their voices and get their funds recovered. This will not only help them but all the victims who are struggling to get their deposits back. Apart from this, it will also help other people to be alert to such scammers and scams.
File a complaint against Verasouls.com fraud right now and get instant help from our team in fund recovery!
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Also, check which brokers got the warning from the Italian regulator CONSOB.
Note: Scam Victims Help has extensively researched the VS FX Review and found several red flags that every trader should be aware of. Read our VS FX review today to learn everything you need to know about this broker before signing up.