Velocity Trades: reviews on trading opportunities. Trust the broker or not?
Review of Velocity Trades: Hidden Signs of Fraud
Fake financial companies often try to embellish their deceitful reputation by using names similar to popular and reliable organizations. This tactic helps them attract clients and deceive unscrupulous traders. Velocity Trades has taken the same path, piquing our interest in black brokerage schemes.
Information about Velocity Trades: What Have We Learned?
Upon initial analysis of Velocity Trades reviews, we were initially confused by the imitation of the popular broker Velocity Trade. The latter has positive reviews and the appropriate legal documents (regulated by FSP, AFSL, FCA). The demonstration of this New Zealand broker’s platform speaks for itself.
In contrast, Velocity Trades, registered in 2017, sought to conceal its tracks and appear honest. They persistently tried to make their scam invisible, but vigilant traders did not turn a blind eye.
Following the legend, Velocity Trades Limited from Saint Vincent and the Grenadines claims to be a broker. However, the reviews and reputation of this offshore raise serious doubts. Nevertheless, Velocity Trades Limited targets young and inexperienced traders in partner selection. Scammers hope to use their ignorance to their advantage by providing unreliable data about their license.
In the end, any doubts about the authenticity of Velocity Trades are confirmed by the absence of a license and a slew of negative reviews online. Even a check at the Central Bank of Russia confirmed that Velocity Trades is not a serious player.
Trading Conditions at Velocity Trades
The pseudo-broker offers suspiciously lucrative trading conditions for currencies, indices, and cryptocurrencies. It tries to attract traders with various account types, each revealing its deceitful trickery:
- A cent account with a minimum deposit of $10, zero commissions, and leverage of 1:400,
- A standard account, requiring $5000 and offering spreads from 1.5 points and a maximum order volume of 150 lots,
- A premium account, which requires $20,000 to start, with spreads from 1.2 points and a maximum order volume of 200 lots,
- A gold account, with a minimum deposit of $50,000 and spreads starting from 0.4 points.
The absence of a demo account implies risks to your investments. Velocity Trades may seem appealing at first glance, but it is ready to seize your funds using cunning and deceit.
Reviews of Velocity Trades
Reviews of Velocity Trades are not encouraging. Traders complain of deposit losses due to platform manipulations, violations in bonus programs, and difficulties with fund withdrawals.
Methods of Fraud
To promote their scam, fraudsters from Velocity Trades participate in affiliate programs and offer generous rewards for new clients. They promise trading assistance, high leverage, and various bonuses, but the deceit is exposed too late. Velocity Trades will ruthlessly deceive you and disappear, leaving you without your investments.
Conclusion
For the safety of your funds, avoid collaborating with Velocity Trades. They are not an honest company and pose a threat to your finances. It is not worth the risk or seeking justice from scammers whose sole aim is to deprive you of your money.