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VEMarkets Review – is it scam or safe forex broker?
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VEMarkets is a financial services provider, offering a selection of more than 1,000 financial assets, such as currency pairs, stocks, commodities, indices and cryptocurrencies to traders from all around the globe. The company is owned and operated by Global Payment solutions, sitauated in Podgorica, Montenegro. No regulation by an official agency is explicitly stated on the website.
|Account type||Min Deposit||Max Leverage|
The traders have the option of choosing between five possible trading accounts with different minimum deposits, the lowest being $250. For comparison brokers like XM and FXTM require only $5 to start trading.
As is mentioned in the beginning of the review – no regulation is explicitly stated on the website. Furthermore, the location of the company’s headquaters has no official regulatory agency for brokers. Trading with a non-regulated broker opens up an amalgam of risks for the trader. There is no assurance for the segregation of accounts i.e. the traders money is mixed up with that of the company which leads to the possibility of fraud. More over, there is no mechanism by which, in the advent of a market crash or brokers bankruptcy, the traders loses could be compensated.
That is why we advise you to trade with licensed brokers, especially FCA-regulated, since they are obliged to comply with rules such as a minimum holding of EUR 730 000 and Financial Services Compensation Scheme (FSCS) which provides for clients a safety net of up to 50 000 GBP per person. Such regulation lowers the risk of fraud and allows more transparency.
Variety of trading instruments
The broker offers a wide range of market options for potential traders. Besides currency pairs, you can also trade CFD on company stocks such as HM, goods like coffee, silver and gold, as well as cryptocurrencies. Diversification of trade is always a plus and we definitely count it as an advantage to be had since it opens up new possibilities for potential traders and gives flexibility.
Variety of deposit/withdrawal methods
VEMARKETS offer quite a few payment methods: Comodo, Visa/Mastercard, Wire transfer, Paysafe, Neteller, Skrill, AstroPay, Yandex money and Webmoney.
VEMarkets a is a forex brokerage, situated in Montenegro – a country lacking any official regulatory agency for brokers and trading. The spreads are high as well, there is no information about the leverage and the trading platform is good for beginners, but not for advanced traders. We do not advise you to risk real money trading with this broker. There are better options to which we have linked in the review.
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
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FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Traders` reviews for VEMarkets
Please DonвЂ™t investing nothing,no even a penny with them . You would loose all.
The fun they have
It appears that all they want to do is have fun with other peopleвЂ™s money while taking a % of the total investment
I was taken from 8000в‚¬ (My investment) to 22000в‚¬ and told to put most of it on a losing stock. Once I was down from my в‚¬8000 inestmentbto 700.00 contact was minimum
They gave me a в‚¬1000 вЂњbonusвЂќ which I had to x8 before I can draw money. No contact at all part from what follows.
Complained to the company about lack of support or concern via email. All I got was a rude voice mail saying вЂњyou canвЂ™t equate a banana with a cucumberвЂќ WHAT THE F..K! Professional eh?
Anthony Dillon was my advisor then when he sent it t. up I was passed to an account rescue team that did even worse Save your money put it on the lotto
I cannot believe what just happened!
Please read my post from 15 January which includes a copy of an email I sent to ‘Joshua’ of this company. I eventually received a phone call from some guy in finance department who finally agreed to refund my money. By the time I received it I was still out of pocket because of expenses. He also told me they had a perfect right to use Holly Willoughby’s name without her permission, it was ‘just an advert and I was stupid to believe it. After all this Joshua had the nerve to call me today!! These scam merchants are beyond belief.
UnverschГ¤mte TГ¤uschung dieser Plattform
Da ich ja noch 880в‚¬ auf mein Konto und nicht mehr spielen darf,bitte ich sie mein Geld auf das bekannte Konto zu Гјberweisen.
Ich bitte um eine Antwort
mit freundlichen Gruss:Erhard Kuschke
Translated by Google:
Since I still have 880 в‚¬ on my account and no longer allowed to play, I ask you to transfer my money to the known account.
Please give me an answer
Best regards: Erhard Kuschke
just paid in $3000 to Vemarkets
I have just paid in $3000 to Vemarkets but am now worried that it might be a scam as this is my first time to trade.
The company is unprofessional and never answer your questions if you request a withdrawal they cancel it after 2 days and do not contact you. You can even close the account either so there is nothing you can really do with the account. They are literally using your details to trade without your involvement
Be Very Careful
VEMarkets were advertising an offer to join their company for ВЈ200 on evidence of a picture of Holly Willoughby gaining ВЈ169 within six minutes of depositing ВЈ200 with VEMarkets. So I opened an account with them. This was yesterday afternoon. After being continually harassed today, to a point of being reduced to tears, this is a copy of an email I have sent them (so far they have been strangely silent):
With reference to our recent telephone conversations, I wish to let you
Secondly, you were advertising ВЈ200 starting fee which then
Thirdly, my bank have suggested that I email you and ask for a full
Within slightly more than twelve hours of my opening an account
I tried to ring the number on VEMarkets’ Home Page and even that is not
Please will you provide me with information about your complaints
Do not touch VEMarkets
I naively deposited money into this company, which now I very much regret. All this company want is their hands on your money. I quickly changed my mind before any trading was done and asked for a refund of my deposits in line with their terms and conditions refund policy, which is not worth the paper it’s written on. I have continually e mail them regarding this with the reply of a senior analyst will contact you but never have. I have definitely been scammed by this lot and hope people will read this before making the same mistake as myself.
DO NOT TOUCH THIS COMPANY.
Habe schon berichtet, dass ich von Trade Vemarkets durch falsch Informationen meines Brokers,mehrere 1000в‚¬ verloren habe.am Anfang lief es ganz gut aber dann war und ist dieser verschwunden.
Translated by Google:
Already reported that I lost several 1000 в‚¬ from Trade Vemarkets due to incorrect information from my broker. In the beginning it went quite well but then it was and is gone.
Very sceptical about this company
After reading about Vemarkets I shall not be investing a minimum deposit of ВЈ250 especially as they are not regulated and after signing up got a phone call straight away. The caller who sounded like he was calling from a call centre in India asked me my age and what I did for a living and then asked if I would be willing to put down a further deposit, this is before I have even made the first deposit which I will now be DECLIN
The staff who were supposed to contact me and give support were unable to answer questions about learning to trade. Never rang when they said and kept trying to encourage me to invest more money. They implied my investment had increased when it was clearly just a paper exercise .
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