No, Vault Markets is not a legitimate broker. Vault Markets appears to be one such hazard to avoid. Despite their claims of empowering African forex markets and boasting experienced financial professionals, a closer look reveals a broker riddled with red flags and concerning practices.
What is Vault Markets?
Vault Markets portrays itself as a forex and CFD broker targeting primarily African traders. They claim to offer competitive spreads, leverage up to 1:1000, and access to various trading platforms, including MT4. However, their lack of transparency and questionable regulatory status warrant serious alarm bells.
Vault Markets Details
Regulated by: | Unregulated Forex Broker |
Is This Company Safe? | Shady legal background doesn’t make this website safe for investing! |
Known Websites: | vault-markets.com – not active Vaultmarkets.trade – active |
Have Warnings from: | N/A |
Registered in: | N/A |
Operating since: | 2021 |
Trading Platforms: | MT4, MT5, Copy Trader |
Maximum Leverage: | 1:1000 |
Minimum Deposit: | $5 |
Deposit Bonus: | Up to 200% |
Trading Assets: | Forex, Spot Metals, Commodities, Bonds, Indices |
Free Demo Account: | No |
How to Withdraw from This Company? | Withdrawals are not proven to be possible – better contact our legal advisors for help! |
Deposits and Withdrawals
While Vault Markets advertises a low minimum deposit of $5 and various funding options, including credit cards and e-wallets, user reviews paint a different picture. Several complaints cite difficulties with withdrawals, with funds being held hostage or even disappearing altogether. This raises serious concerns about the safety and security of client funds.
If you have lost money to companies like Parenta Financial Services Ltd, or BTB Inc; please report it to us on our Report a Scam form.
Account Types
Vault Markets offers three account types: Micro, Standard, and VIP. However, the details and benefits of each type are shrouded in ambiguity on their website, further contributing to a lack of trust and transparency. This vagueness makes it difficult for potential traders to make informed decisions.
Red Flags and Warning Signs
In a desperate attempt to look credible, Vaultmarkets (Pty) Ltd asserts that it is a “product” of 1st Fintech Capital (Pty) Ltd, an organization governed by the FSCA. It is impossible to verify the relationship between these two. The website’s owner would be listed in the aforementioned register if they had the necessary authorization.
By adding another company that was purportedly governed in Namibia, an additional attempt was made to falsify legitimacy. The jurisdictional authority in this nation, NAMFISA, is not registered with Karibu FX Financial Consultant Services Pty Ltd. In any case, you wouldn’t want the trading portal you use for your investments to be supervised by the elite regulator.
Customer Complaints and Negative Reviews
A quick search on review platforms reveals a plethora of negative experiences with Vault Markets. Common complaints include:
- Difficulties with Withdrawals: Many users report facing hurdles and delays when attempting to withdraw their funds, raising concerns about the liquidity and potential manipulation of client money.
- Unresponsive Customer Support: Complaints about unresponsive and unhelpful customer service paint a picture of a company not interested in resolving client issues.
- Suspicious Trading Activity: Some users allege experiencing manipulation of trading prices and unfair stop-loss executions, further eroding trust and confidence in the platform.
Vault Markets Alternative Brokers
To safeguard your hard-earned capital, consider opting for reputable and regulated forex brokers instead. Here are a few reputable alternatives:
- FXTM: Regulated by CySEC and FCA, offering competitive spreads, low minimum deposits, and a variety of trading instruments.
- IC Markets: ASIC-regulated, known for its low-cost trading and transparent pricing structure.
- Pepperstone: FCA-regulated, offering tight spreads, multiple platforms, and excellent educational resources.
Got Scammed by Vault Markets? We Help Victims!
If you’ve unfortunately fallen victim to Vault Markets’ deceptive practices, there are resources available to help you. Consider contacting financial regulatory bodies in your jurisdiction to report the fraudulent activity. Additionally, several online communities and platforms offer support and advice for victims of forex scams. Remember, staying informed and vigilant is crucial to navigating the potentially treacherous world of online trading.
By diligently researching any unfamiliar broker before investing your money, you can make informed decisions and minimize the risk of becoming a victim of a forex scam. Choose transparency, regulation, and a proven track record over empty promises and hidden dangers.
Remember, your financial safety is paramount. Trade wisely and choose ethical, reputable brokers to safeguard your hard-earned capital or You Can report to us today by the below form.
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