Vegaxtrade is a forex broker that claims to offer a variety of trading products and services. However, there is a growing body of evidence that suggests that Vegaxtrade is a scam. In this article, we will take a closer look at Vegaxtrade and explain why you should avoid it.
Company Overview
When you want to enter their website, you will see this beautiful red notice. This website is suspected of being a phishing website who are stealing people’s private information. We tried to go proceed by neglecting this notice, but could not enter their website. So, we tried to collect the information from several online forums, reporting sites, etc.
Does Vegaxtrade Have Any License?
No, Vegax Trade does not have any licenses or regulations from any reputable financial authorities. This is a major red flag, as it means that the broker is not subject to any oversight or accountability. That is why they get the red notice because the first thing they do- is steal your information by using phishing methods.
Is Vegaxtrade Regulated By Any Authority?
No, the Vegax trade is not regulated by any authority. This is another major red flag, as it means that the broker is not subject to any oversight or accountability.
Vegaxtrade Pros and Cons
| Pros | Cons |
| No license | |
| Suspected phishing website | |
| Steal people’s information | |
| Scam website |
How Does Vegax trade Reach To Their Prey?
Vegax trade uses a variety of methods to reach their prey. They often target new traders who are looking for a way to make a quick buck. Vegaxtrade will often offer these traders unrealistic profit potential in order to lure them in. Vegaxtrade will also use social media and online advertising to target its victims.
Technical Details of Vegaxtrade
Minimum Deposit
According to some traders’ experiences, the minimum deposit requirement for Vegax trade is $250. This is relatively low, which may make it appealing to some traders. However, it is important to remember that this is a scam broker, so you should not deposit any money with them.
Trading Platform
Vegaxtrade offers a proprietary trading platform. This platform is not very user-friendly and it lacks many of the features that you would expect from a reputable forex broker.
Spread
The spreads offered by Vegaxtrade are relatively high. This means that you will have to pay more to trade with them.
Leverages
Vegaxtrade offers high leverage. This can be dangerous for traders who do not understand the risks involved.
Packages and Products They Offer
Vegax trade offers a variety of trading products and services, including forex, CFDs, and binary options. However, it is important to remember that these products are all just a way for Vegax trade to scam you out of your money.
Withdrawal and Deposit Method
Vegaxtrade makes it very difficult to withdraw your funds. They will often require you to jump through hoops and provide them with a lot of personal information. In some cases, they may even refuse to let you withdraw your funds altogether.
What Do Their Previous Traders Say?
There are a number of complaints from previous Vegax trade traders online. These complaints allege that Vegaxtrade is a scam and that they have been unable to withdraw their funds.
Summing Up- Why Should Not You Trust Vegaxtrade
There are many reasons why you should not trust Vegaxtrade. Here are just a few:
- Vegaxtrade is not regulated by any reputable financial authority.
- Vegax trade has a history of complaints from users.
- Vegaxtrade offers unrealistic profit potential.
- It is difficult to withdraw funds from Vegaxtrade.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have been scammed by Vegax trade, there are a few things you can do. First, you should file a complaint with the Financial Conduct Authority (FCA) in the UK or your respective financial regulation authority.
Second, you should contact your bank and ask them to reverse the charges for your deposit to Vegaxtrade. This is called a chargeback and it is a way to get your money back from a fraudulent merchant. However, it is important to note that not all banks will do a chargeback for forex scams.
Finally, you can contact us for a quick and easy solution. We will evaluate your case and through a free consultation, you will get recovery trusted service recommendations, guidance, and educational resources.
File A Complaint Against Scam Broker's
Final Thought
Vegaxtrade is a pure scam and we already show you the explanation. Based on the above article, you can make the decision to avoid the trader. Always avoid these kinds of unlicensed brokers.
