Is FVP Trade Legit or a Scam?
FVP Trade is a scam broker. They claim to be regulated by the FCA from the UK. If you search with the FCA, you will find any information about this broker. Also, the registration area is from British Virginia Island, which is the heaven for off-shore scam broker companies. Read further our review to know more about the scam company.
What is FVP Trade?
FVP Trade Ltd., based in the British Virgin Islands, is the owner of the broker FVP Trade. However, the company claims to be licensed no more than by the UK FCA.
The EUR/USD spread begins at 1.3 pip, which is about typical. The broker, however, doesn’t impose any additional fees or commissions, so your investment is its top priority rather than making a tiny profit.
FVP Trade Details
Regulated by | Unregulated Offshore Broker |
Is This Company Safe? | No, fake claim of being regulated by the FCA, UK |
Known Websites | http://fvptrade.com/ |
Have Warnings from | N/A |
Registered in | British Virginia Island |
Operating since | 2017 |
Trading Platforms | MT4 |
Maximum Leverage | N/A |
Minimum Deposit | N/A |
Deposit Bonus | Not available |
Trading Assets | FX, commodities, indices, shares, cryptocurrencies |
Free Demo Account | Available |
How to Withdraw from This Company? | It is rare to get a payout proof. If you face any issues with the payout, please contact BCA |
Deposits and Withdrawals
There is no specific information about their minimum deposit amount. That means unless they contact you, you can not open any account. After opening the account, you can deposit your account with several deposit methods.
Let’s say you began using an FVP Trade broker to make investments. You’ll be eligible for a $100 or $200 bonus after making a deposit. Additionally, that sounds fantastic—free money and a welcome kickstart. After this boost, you must flip over a minimum of 6 lots within 30 days to withdraw the funds. For the avoidance of doubt, average traders begin with 0.01 lots because that is the minimum.
There is a $5 minimum withdrawal amount. But because there are so many costs, you will have to pay commission and your bank will not receive any money if you attempt to withdraw a lower amount.
Account Types
There is no specific information about their account types. But, they offer a demo account facility for their clients.
Red Flags and Warning Signs
The first red flag was raised about their regulation and license. They are registered in the British Virginia Island. This area is mostly popular for the scam brokers’ placement. Another red flag is, that you cannot find any account type or minimum deposit information on the website. This is not a good sign. It means they can claim any amount of money while opening the account.
Then they claim to be regulated by the FCA, UK, and ASIC from Australia. But, nothing was found when we searched with these two regulators. They have a very wide range of red flags and warning signs.
Customer Complaints and Negative Reviews
You will see mostly negative reviews about this broker. Trustpilot and other scam-reporting sites have tons of negative reviews about this broker.
FVP Trade Alternative Brokers
You should not choose any scam broker such as FVP Trader. If you want to make a good investment and get a good profit, you can follow any of the legitimate brokers from the below list:
- eToro: Best for Crypto trading
- OctaFX: Best for forex trading
- Pepperstone: Best for Prop trading
Got Scammed by FVP Trade? We Help Victims!
If you have been scammed by FVP Trade, you should take immediate action. Broker Complaint Alert can help you in that case. Our team of professionals will provide you with a free consultation call and recovery service recommendations to help you recover the lost funds.
