The short answer: VenturyFX is a scam broker. While VenturyFX claims regulation in Mauritius, doubts linger about its legitimacy and transparency. Numerous red flags, negative reviews, and a blacklisting by a top financial regulator raise serious concerns. Before investing, consider this comprehensive review and explore safer alternatives.
What is VenturyFX?
VenturyFX presents itself as a forex and CFD trading platform, promising access to a multitude of instruments and lucrative returns. But beneath the polished veneer lies a murkier reality.
VenturyFX Details
Regulated by: | Unregulated Offshore Broker |
Is This Company Safe? | The absence of licenses makes any site unsafe! |
Known Websites: | |
Have https://venturyfx.comWarnings from: | CONSOB, CNMV |
Registered in: | Mauritius |
Operating since: | 2021 |
Trading Platforms: | WebTrader |
Maximum Leverage: | N/A |
Minimum Deposit: | $250 |
Deposit Bonus: | Not available |
Trading Assets: | Forex, Cryptocurrencies, Equities, Metals, Commodities, Indices |
Free Demo Account: | Not available |
How to Withdraw from This Company? | Payouts do not happen – better contact our legal services for help! |
Deposits and Withdrawals
While VenturyFX boasts various deposit options, the picture regarding withdrawals is murky. Reports from disgruntled users highlight lengthy processing times, unexplained delays, and even outright refusal to process withdrawal requests. This raises serious concerns about the accessibility of your funds.
If you have lost money to companies like AlphaSoft AI, or Rentalzi; please report it to us on our Report a Scam form.
Account Types
VenturyFX only offers one kind of trading account, and the broker does not offer a demo for testing and speculating without risk. The only base currency option for the given account is USD, and a US$250 minimum deposit is required.
It’s crucial to note for comparison’s purpose that numerous licensed businesses provide a variety of account kinds for distinct order execution technologies and risk reduction techniques. These frequently have a funding cost of $10 or less, offer a demo, and have a large selection of base currencies.
Red Flags and Warning Signs
Smart Trade Limited, the parent company of venturyfx.com, is a duly registered and licensed business. The issue is that they only hold a license from the Mauritius FSC, which is regarded as a lax regulatory authority.
A respectable Forex dealer must hold at least one premium license to properly safeguard customers and ensure the security of their funds. Tier-1 regulators, like FCA, BaFIN, FINMA, NFA, or ASIC, for example, would issue these.
Having said that, the business does provide its services in the EU, even if it lacks the required licenses. CONSOB and CNMV added the company to their warning list as a result.
Customer Complaints and Negative Reviews
VenturyFX’s customer service seems more adept at deflection than resolution. Online complaints abound, echoing issues like withdrawal delays, unresponsive support, and difficulty accessing funds. Trustpilot paints a grim picture with consistently poor ratings and accusations of outright scamming.
VenturyFX Alternative Brokers
Instead of venturing into the perilous waters of VenturyFX, consider reputable brokers regulated by strict authorities like the FCA (UK), CySEC (Cyprus), or ASIC (Australia). These brokers offer robust platforms, transparent pricing, and reliable customer support, putting your investment in safe hands.
Got Scammed by VenturyFX? We Help Victims!
If you’ve fallen victim to VenturyFX’s deceptive practices, know that you’re not alone. Several resources offer assistance to scammed investors. Consider pursuing legal action through financial ombudsmen or regulatory bodies depending on your jurisdiction. Don’t hesitate to share your experience online to warn others and raise awareness about this potentially fraudulent broker.
If you need a quick solution and professional guidance, you can contact us for a quick solution. You will get a free consultation call and recovery service recommendations to get help in recovering the lost funds or You Can report to us today by the below form.
