Warning! FinancialVizion.com is an offshore company! Your deposit may be at risk.
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FinancialVizion.com is a shameless broker, a full ripoff and an utter scam. But how can one tell? Or, how can novice users be protected from this broker, and other like it? Read the review to understand. However, the broker’s site can be seen as one of the biggest signs that the company is not legit.
We have to start with an official FCA warning issued against the broker. The FCA is one of the leading regulators in the FX industry, and because of this, any warning against anything should be taken very seriously.
The warning basically claims that the broker is a clone firm of a legit entity. Here’ show we worked it out.
The broker uses the legal details of a legit broker whose parent firm name – Vision Financial Ltd – is used by FinancialVizion.com.
We later learned, out of our own research, that another company has also been ripped off by the broker- Edr Financial Ltd. This one is regulated by CySEC. We went on the website of the regulator to read about the issue, and found that FinancialVizion.com has no affiliation to Edr Financial Ltd.
We think that these two details are enough to draw a concise verdict about the broker. The firm is not regulated and it thus a risk to all users and their money. Not to mention that FinancialVizion.com is also a clone and quite possibly a completely anonymous entity, making it even more dangerous that we originally though.
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
The web trader gave us a 0.2 pip spread for the EUR/USD. These types of low spreads always have a commission to them, that it, when dealing with a legit broker. Scammer brokerages manipulate the trading software in order to provide superb spreads to attract users, spread that are actually manipulated.
The website cannot come into accord as to the leverage it offers. One section of the site claims a 1:500 leverage – the FAQ section-, while the account section claims that the leverage is 1:200. Nothing is set in stone here. Everything is precarious.
The trading area grants access to the following tradeable assets: forex currency pairs, commodities, indices, and shares.
We were about to attach a snip of the web trader, when we were kicked out of the account, and soon enough the website was no longer available.
What we remember of it was that it was a simple web trader, one that can be attribute easily to any other unlicensed broker. By saying this, we automatically mean a software that looks like it can hold but in reality offers close to no alternatives to the default buy and sell options.
FINANCIALVIZION.COM MINIMUM DEPOSIT
The minimum deposit is $250.
The user area had an inactive deposit area. Considering that the broker was already on its way to being shut while reviewing this, we were not surprised. Currently, there is no way to invest here.
The terms and conditions talk about credit cards, wire transfer, and crypto wallet as payment methods. Yet, we may never know what the company actually offered as payment options.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
FINANCIALVIZION.COM WITHDRAW TIME AND FEES
There was nothing we could find on withdrawals. The depositing area was blocked, and so was the withdrawal one. It seems to us that the shutting down of the website that we spoke of earlier in the review was inevitable, and the first showing are the unavailable payment area.
Moreover, the website is useless, not so much because it no longer exists, but because when it did it was operated by a scam, and thus all the information there was a lie!
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
FinancialVizion.com is a mess and a complete 100% scam. Any interaction with it is a risk, no matter how insignificant it is. Stay away from this broker.!