A Sinister Story About VipTrade Company
It has been previously mentioned about the Georgian intermediary viptrade.ge, which over the years managed to accumulate several negative reviews and even update its appearance a couple of times.
However, viptrade.kz is a branch of a large fraudulent network from Kazakhstan. Behind all this disgrace stands a certain Chachi Daseni, who gives interviews to sponsored online publications. Today we will try to figure out whether “VipTrade” actually provides real assistance to investors in increasing capital or if it’s just a trap.
Summary of VipTrade Shenanigans
It is evident that the scammers’ website was put together hastily. While there is a Russian version available, it is very minimal. All information about the company, legal data, history, educational materials, and much more are presented only in English.
The platforms viptrade.kz, viptrade.ge, and viptrade.eu have standard designs with poor optimization. This is intentionally done to attract a larger audience and confuse users. While viptrade.ge is still afloat thanks to its structured blocks, the characters of today’s review are restlessly floundering.
An evaluation by a specialized service reduced the “VipTrade” platform to 0 rubles. An unconvincing result for a 4-year project.
Information suggests that the VipTrade scam started its operations in 2016. However, the domain viptrade.kz was registered just 26 days ago. Hence, it’s understandable why there are no reviews yet for the Kazakh scammers.
The website claims that “VipTrade” is licensed by a total of 3 regulators.
Nevertheless, there are no documents confirming these licenses. The scammers provide victims with registration numbers that actually mean nothing.
The Trade Holding corporation, owning “VipTrade,” is under the control of the National Bank of Georgia (2-19/1292).
However, the local management only started receiving documents from forex brokers in April 2018. The country’s economic legislation is in its early stages of development, so it is extremely dangerous to trust such pieces of paper.
The VIPTRADE Holding (200640019797), registered in Kazakhstan, has no relation to brokerage or investment activities, as its main specialization is advertising.
The company’s manager is listed as Movsisyan Artur Abetovich, but there is hardly any information about him. Most likely, this is a fictional name, as in all interviews about “VipTrade,” Chachi Daseni is mentioned. He talks about the “civilized” trading conditions and that “VipTrade” is the first forex broker in Georgia with a European license. But why are the scammers actively attracting Russian citizens?
Moreover, without the consent of the Central Bank of Russia.
Additionally, the scammers allegedly registered in Saint Vincent and the Grenadines. There is no open registry in the offshore zone, and the SVGFSA does not regulate the activities of brokers.
Contacting “VipTrade” also poses problems. It is assumed that the scammers have offices in Tbilisi and Almaty.
However, no business center at the specified addresses has been found.
The only representation of VipTrade that was actually found is located on Leonidze Street. But as soon as the scammers start feeling the heat and begin receiving negative reviews, they quickly change their location.
In the “basement” of the website, the scammers placed links to social networks. If the scammers’ Instagram page is unavailable, then on Facebook, the fraudulent swindlers only post links to similar articles.
Review of VipTrade Account Types
VipTrade offers more than 27,000 instruments for investors. In addition to standard accounts (“Micro Accounts,” “Pro Accounts,” “VIP Accounts”), there is also an Islamic account.
The minimum starting threshold is $500. The leverage reaches 1:500, which defies common sense. Such high leverage can only be offered by 100% scams that do not execute trades on the market and only trade within their system.
Naive victims are lured into investing in PAMM accounts. From the scammers’ point of view, only the client’s money is needed, and a skilled trader will help make millions independently, taking a symbolic commission for it.
Reviews of VipTrade Scammers
The company has existed for less than a month, so there are currently very few reviews about viptrade.kz. But this is only a matter of time. Soon, clients will realize that they have sacrificed their funds and will begin flooding forums with their negative reviews. For now, “VipTrade” continues to operate.
In contrast, the Georgian “kitchen” VipTrade has been operating for about 2 years and shows no signs of stopping its activities. The scammers quickly eliminate any negative reviews.
VipTrade Fraud Scheme
Often, the scheme of such scams remains unchanged. The scammers operate according to the following plan: they attract clients through webinars and other educational materials, and then start manipulating them, forcing them to make a minimal deposit.
Short on cash? No problem! The fraudsters “kindly” offer the client a loan. Supposedly, this will allow the investments to be profitable within a week. Initially, the profit in the account will indeed grow rapidly (the platform is controlled by scammers). However, this lasts only until the first request for withdrawal of funds.
The account of the trusting victim will be promptly suspended, citing a breach of agreement, and demand fees to be paid to retrieve anything. Entering into such provocations should be avoided, as the scammers have long ago divided your investments among their own wallets.
Recommended articles for you:
- How to Earn Income Online?
- How to Accumulate Capital? Is Becoming a Billionaire Possible?
- 21 Films About Traders: Viewing List
Conclusion
VipTrade Company – a deception with grand plans. Only scammers earn here, while investors have to bear the consequences of their naivety and leave negative reviews on independent platforms. If you don’t want to lose all your savings, it’s better to stay far away from “VipTrade”!
