Overview of FXVC Review:
In a market where hundreds of traders earn huge profits every day, it is inevitable for the number of scam brokers to increase rapidly. These scam brokers hide behind the legitimate brokers and wait for their prey to come in. They will obtain the numbers of people from the dark web and start cold calling the potential victims with huge bonuses and offers. When a victim is drawn in, they will behave just like how a legitimate company would do and show the victim that they are earning a lot of profits. The victim only comes to realize the scam they are trapped in at a later stage where it becomes difficult for them to retrieve their money without help. In this article, we will be reviewing one such potential scam broker that goes by the name of FXVC. Read on to know more about FXVC.
FXVC was founded in the year 2011. The company claims to be one of the best in the market and repeats what all the scam brokers boast about themselves. It offers to trade in 200+ tradable instruments that include currencies, indices, commodities, etc. Being in the industry for a decade now, the company still poses some red flags which makes us question the legitimacy of this brokerage firm.
FXVC and Regulation:
Owned and operated by another company by the name of Finteractive Limited which was formerly known as Centralsport Trading ltd, FXVC is based out of Cyprus. Upon checking their website, we found out that FXVC is registered with the Cyprus Securities and Exchange Commission, commonly known as CySEC, of Cyprus. However, as the company only has a license from the CySEC, the company is only allowed to offer trade services in the European countries and South Africa only. This contradicts the earlier claim on their website in which they said they tended to customers around the world. This raises the first red flag against FXVC.
FXVC and Demo accounts:
Demo accounts are one of the most important aspects to look for in a brokerage firm before opening an account with them. A demo account not only helps the new traders in knowing how trading works, but it helps the customers in getting to know about the trade functions that the company offers. However, with FXVC the customer has to open an account to know all the details which raise yet another red flag against FXVC.
FXVC, Accounts, and Minimum Deposits:
Another problematic aspect of FXVC was the different account types and the minimum deposits affiliated with them. The brokerage company offers five different account types with different minimum deposits. The names of the accounts are Bronze, Silver, Gold, Platinum, and VIP. The minimum deposit for opening a bronze account is 250 euros whereas to open a VIP account it is 250000 euros. This raises yet another red flag against the FXVC.
Conclusion: Is it a scam or legit?
To conclude the above-stated points, we can safely say that FXVC is a potential scam. We urge our readers to stay away from this brokerage firm and proceed at your risk.
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