Is V7markets a legitimate broker?

No, V7markets cannot be considered legitimate since it lacks a license from a strict regulatory body. The fact that V7markets lies about its regulation raises concerns about its intentions. Unlike reputable US brokers, V7markets cannot prove that it is not running a scam since it is not required to report on open and closed trades. This makes it easier for the platform to manipulate prices and engage in other fraudulent activities without being held accountable.

V7 Markets: Regulated or Licensed? 

V7 Markets is not a trading platform that is authorized or regulated, which is essential to remember. This means that there are no valid documents to prove the platform’s authenticity. It is therefore highly advised to stay away from this platform. Without any regulatory oversight, V7 Markets can impose any trading conditions it desires. This is concerning, as no reputable regulator would permit investors to sign up without knowing the set leverage.

Features of the Account

The account lacks transparency, as members are not informed of available leverage and spread until they sign up. The maximum leverage for retail traders in the United States is set at 1:50 by regulators.

Deposit and Withdrawal

Users can fund their accounts using a bank transfer or wire transfer to send or withdraw money from their accounts. Within 24 hours of funding, the account amount will appear on the trading dashboard.

However, members have not been able to withdraw funds in recent weeks, with only partial amounts being allowed. 

Contact and Support

It’s critical to evaluate the effectiveness of support’s interactions with investors, including reaction times. Utilize a tool that enables direct communication, such as a live chat function or a phone number with an agent on duty. 

However, the website does not provide any of these alternatives and only allows one-way communication.

Ensuring the Safety of Your Funds with V7 Markets 

It’s important to invest with a platform that segregates accounts to keep your funds secure. Without this feature, your deposits can be at risk, and there’s no guarantee of insurance coverage for clients.

Recovering lost funds from V7 Markets 

If you have unfortunately lost money while trading with V7 Markets, it’s important to take action to recover your funds. Report Scam Community specializes in helping scam victims retrieve their lost funds, with a team of recovery specialists who have already helped hundreds of clients. To begin, simply fill out a short complaint form for a free consultation. Unlike dishonest recovery companies, the Report Scam Community is a trustworthy group that has successfully recovered millions of dollars from fraudulent brokers.

Read about a similar scam broker – 4Trade review

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