Home » VMC-Global Review – Vmc-global.com Scam or not?

VMC-Global Review – Vmc-global.com Scam or not?

VMC-Global Review - Vmc-global.com Scam or not?

VMC-Global employs a strategy that is far too lighthearted for the most advanced FX traders to take seriously. Perhaps that is the target that VMC-Global has set for itself to draw and make it invest in a more beginner audience. Whatever it might be, there are realities that have to be discussed, and it is the aim of this analysis to expose them. The VMC-Global aesthetic of cartoons makes it tougher to confront the reality of the matter. Let us move ahead, with that said.

We had to go through very specific steps to enrol, which demanded only the most basic of qualifications from us. We were in within a couple of seconds. A web-based trading app, which seemed familiar, was the primary page of the user portal region. We were able to connect it with some illegal brokers that we had reported about previously.

Anyway, we received a trade rate of EUR/USD of 0.1 pip on this network. This is a spectacular spread, but for purposes that are addressed in the analysis, we have close to no faith in it. At 1:500, a typical offshore brokerage value, the leverage was limited. Forex currency sets, commodities, indexes, cryptocurrencies, and ETFs are the exchange tools.

English and Russian are the primary languages of the website.

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VMC-Global Review - Vmc-global.com Scam or not?

VMC-GLOBAL Rules and Regulations

Although the broker’s website claims that the company is regulated by CySEC in Cyprus, our research says otherwise. Of course, as we scoured the Cypriot regulator’s official database for any trace of VMC-Global, all the necessary research was undertaken. No trace of the broker was found, as we anticipated.

Moreover a warning against VMC-Global has actually been issued by CySEC, labelling it a non-approved domain.

We will point out that the website also claims that the company is regulated in Mauritius by the Financial Services Commission, not that it changes anything, because this is another false claim.

To be precise, VMC-Global is clearly a UNREGULATED broker and a danger to all investments in it!

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When you invest in an uncontrolled dealer, you may as well be tossing your capital out the window. We advise all readers, before doing so, to apply for a licence. It’s imperative! Typically, the people who have an FCA and/or CySEC licence are the ones for you so what they do is better for these two regulators!

These two watchdogs, along with other regulators, have a lengthy list of essential criteria in their administrative arsenal that must be fulfilled by all brokers and must continue to comply with until they are approved. There is more is that compensation funds have been included by the FCA and CySEC, as well as others. Both users of brokers under these agencies would then be reimbursed if the brokers become insolvent, up to a stage.

VMC-GLOBAL Deposit and Withdrawal Methods  

The portal area reveals a section on payment, where we learn that the minimum deposit is technically non-existent because a bitcoin wallet is the only way to deposit. It is expected that the user will copy and deposit the BTC address into it, expecting her money to appear in her account. This is not bound to occur. A) VMC-Global is unlicensed, and b) BTC deposits are mostly untraceable, making it impossible for a refund to be obtained.

The withdrawal section reveals that withdrawals through a Bitcoin wallet are also achieved. For every withdrawal done, there is a 320 Satoshi per byte commission, amounting to $1.8 per transaction per bitcoin. Bitcoin fees, however are very complex, and so you should not rely on this as a precise dollarization of the withdrawal fee.

Other payment techniques, including wire transfers and cards, are mentioned in the legal documents, but the payment gateway area speaks for itself. Inaccuracies are a very real aspect of most brokers, so readers do not have to worry about the opposite set of payment details. Personally, we do not have any confidence left in these legal documents.

VMC-Global is a very good example of a broker that is not regulated. The familiar paths to the shanty town are followed. Do not make investments in VMC-Global.

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