Looking to read VisaFx reviews, you are in the right place. Read this honest review to know about this VisaFx.co forex broker and why you should beware.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About VisaFx
VisaFx is an offshore brokerage operated by Visa Financial Xperts Limited with a lot of promises for forex traders. The company is incorporated in St. Vincent and the Grenadine.
The broker offers different account types such as —
In addition, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Withdrawal process:
VisaFx withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
VisaFx Minimum Deposit:
VisaFx deposit is just $10, which is fantastic if the broker was no a scam and a risk. In the case of Sharon, it’s not worth investing in this one.
In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
The available payment methods are credit cards, bank transfer, PayPal, Skrill and Neteller.
Just so you are aware, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
VisaFx Platform:
VisaFx has actual trading software – the MetaTrader 5 (MT5) platform. But, it does not provide authentication for logging into a trading server unless the account is verified by providing a copy of an ID.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
VisaFx leverage can get up to 1:500. Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
What We Discovered about VisaFx.co Regulation
First of, VisaFx claims to be registered by the Financial Services Authority of St. Vincent and the Grenadines (SVG). But verification shows that this company is not among those registered in this offshore zone. Even if the owner of VisaFx is indeed based there, this does not provide any guarantees about the safety of your funds.
VisaFx indicate that the company is in fact based in the Commonwealth of Dominica. This is another offshore area without any regulations in place for forex brokers.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
VisaFx Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Bottom Line:
VisaFx, like Protosscapgroup appears like a good looking forex broker, however, we encourage you to be careful and to turn to brokers with proven reputation instead. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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