VS FX is an offshore broker and it is an unreliable one. Please read VS FX review before investing. The broker is not regulated by any of the known regulatory authorities in the jurisdiction. This broker offers operations in many asset classes and provides investment services in many countries throughout the globe without having a proper license from any of the known regulators like SEC, ASIC, FCA, BaFin, CNMV, CySEC, etc. On investigating online we found that there are many negative VS FX reviews and complaints on different broking forums. This is a red flag, for VS FX broker can be possible scam/fraud. Your investments/funds may not be secured if you are trading with this broker.
Website – http://www.fxvsvip.com/en/
Official Address – United Kingdom
Warned by regulating authority – Not Recommended By Review Website Like Scams Report
VS FX Review: Introduction
VS FX is an online trading forex platform owned by VS FX FINANCIAL LIMITED. It is located in the United Kingdom, and the website is found at https://www.verasouls.com/en/. They claim to be registered by the US Commodity Futures Trading Commission (NFA) and the Canadian Banking Supervisory Commission-MSB. They provide a contact email at [emailprotected], but the contact number is missing from their website.
They also claim that they provide first-class quality financial services forex trading platform to provide global customers with online trading services of financial derivatives, including foreign exchange, precious metals, CFDs, etc. VS FX claims to be a reliable and legit broker, but we found that they are potentially a scam broker or might be involved in scam activities. Read a complete VS FX Review to know more about this broker.
VS FX Review: Regulated License
When choosing a trading platform, it is significant to check the broker’s regulated license. It helps you to avoid fraudsters or scam brokers. VS FX claims to be regulated in Australia, but we find that they are a potential scam broker or involved in online scam activities.
VS FX Review: Trading Account
They offer four types of trading accounts which include standard, plus, pro, and ECN accounts. The minimum deposit of the standard account is $2000, plus account $5000, Pro account $30,000, and ECN account $100,000, and leverages start from 1:50 to 1:200.
How does the VS FX scam work?
Scam brokers contact people through online ads and social media platforms. They manipulate you by giving exciting offers and great deals that you make a good profit with them. When you click on these fake ads and provide your contact number, scam brokers contact you immediately and ask for an initial deposit. These tricks always work for new and innocent investors. Sometimes they make a clone website of a legit broker to attract more people. After that, they ask for a huge amount, and in return, they assure you to make a good profit.
But when you want to withdraw your money, you will realize that you are a victim of a scam broker, and scammers steal all your money. The scams Report community always advises you to never invest money in a trading platform without checking the regulated license of a broker otherwise; you will lose your hard-earned money. Some regulated brokers are also a part of online scams, so it’s better to check the cryptocurrency scam list before trading.
Customer Review and Ratings
If you are searching for an online trading platform, reviews and ratings help to avoid scam brokers. After reading all the negative and positive VS FX reviews, we found that this broker got negative reviews and feedback on all other sites. Scams Report advises you to stay away with this broker or any other unregulated broker. You can avoid scams by reading all the scam broker reviews. We provide a scam brokers list of 2022 on our Scams Report website.
VS FX Review: Conclusion
Scams Report never recommends you to trade with VS FX broker because they might be involved in online scam activities. It’s better to avoid unnecessary risk, and taking the right step after a scam is also necessary. If you are a victim of VS FX broker, you can file a chargeback for fund recovery. Fill out a complaint form on our website. Scams Report will provide a free consultation and guide you in the process of fund recovery.
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FAQs
Your card provider can ask the seller's bank to refund the money. This is known as the 'chargeback scheme'. If you paid by debit card, you can use chargeback however much you paid.
What do you do if you were scammed by the consumer FTC? ›
Report a Scam to the FTC
If you experienced a scam — or even spotted one, report it to the FTC at ReportFraud.ftc.gov. Check out what's going on in your state or metro area by visiting ftc.gov/exploredata.
How to recover money from a forex broker? ›
You can also seek legal counsel, file a complaint with the CFTC for Forex-related scams, and file a securities fraud complaint with the SEC. FINRA rules also strictly prohibit brokers from borrowing money from almost all customers unless permitted by the firm.
Where to complain against a forex broker? ›
Contact the Regulator (if unresolved): If you're unhappy with the broker's response, find the relevant regulatory body overseeing the forex company. This will depend on the company's location. File a complaint there, referencing your attempts to resolve it directly with the broker.
What can I do if I get scammed for money? ›
Federal Trade Commission: Contact the Federal Trade Commission (FTC) at 1-877-FTC-HELP (1-877-382-4357) or use the Online Complaint Assistant to report various types of fraud, including counterfeit checks, lottery or sweepstakes scams, and more.
What happens if I receive money from a scammer? ›
Ask the sender to cancel the transaction immediately — in many cases, the sender can simply contact the app's customer support to cancel the transaction. If the sender refuses to do so, contact the app's customer support yourself, explain the situation, and ask them to reverse the transaction.
Can the FTC get my money back? ›
The FTC enforces consumer protection laws to stop illegal business practices and get refunds to people who lost money.
Does filing a complaint with the FTC do anything? ›
The FTC's Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting reports from consumers and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights ...
Can the FTC put you in jail? ›
This means that criminal charges will never be served by the FTC personally, although hefty and expensive civil charges can be. However, an FTC investigation or charges can often lead to other agencies getting involved and filing criminal charges against you as well.
How to recover money from brokers? ›
Trade it for a month or so and then make a request to withdraw the funds to see how the broker reacts. If there are any problems, attempt to discuss them with your broker and see how the issue is resolved. If you have any problems, you know to avoid making large investments with the broker in question.
International wire transfers can't be reversed once the wire transfer transaction is completed. Know your recipient before sending money and be sure that the banking details are correct for the wire transfer. Sending wire transfers is a relatively opaque process once the wire transfer is sent.
What is the best way to recover my scammed Cryptocurrency in forex? ›
It's challenging to recover lost funds from a cryptocurrency exchange due to the decentralized and often anonymous nature of transactions. However, some individuals have been successful in recovering their funds through legal action, contacting the exchange's customer support, or involving regulatory authorities.
Can you sue a forex broker? ›
Can You Sue Your Broker? Yes, you can sue your broker if you have had losses in your financial account. There are two primary ways of suing your broker: filing a suit or filing an arbitration. Keep in mind that you cannot simply sue your broker and be successful in doing so if you have suffered financial losses.
How do I report a fake broker? ›
To file a complaint against a broker, brokerage firm, investment adviser, transfer agent, mutual fund, and other market participant, you may contact the SEC's Office of Investor Education and Advocacy.
Are there fake forex brokers? ›
Key Takeaways. Many scams in the forex market are no longer as pervasive due to tighter regulations, but some problems still exist. A traditional scam is for forex brokers to offer wide bid-ask spreads on certain currency pairs, making it more difficult to earn profits on trades.
Can you claim back scammed money? ›
Banks often refund scammed money, but it's not guaranteed. The likelihood of a refund depends on your bank's policies, the type of scam, the payment method used, and how quickly you report the fraud. To increase your chances of recovering your money, take these steps.
Can I get back my money after being scammed? ›
You can also report the scam to the FTC and your local law enforcement agency. Contact Your Bank or Payment Provider: Contact your bank or payment provider and report the fraud. They may be able to reverse the payment or freeze the account associated with the scammer.
Do banks refund money if hacked? ›
Can I Get My Money Back? Notify your bank to report any unauthorized transactions, start an investigation. Banks generally refund fraudulent transactions if reported promptly.
Will cash refund money if scammed? ›
No, Cash app generally does not refund money if scammed 1-833-204-1865], as payments are typically instant and irreversible. If you've been scammed on Cash App, don't lose hope. Contact Cash App support at 1-833-204-1865 immediately and follow the necessary steps to report the scam.
