VCG Markets

The strongest side of VCG Markets is its website design. But of how many scammer brokers have we said the same thing? Hundreds, perhaps more. The truth is that VCG Markets does not present any fair trading grounds, nor any legal grounds for that matter. Don't let its looks deceive you; it's why the broker has been designed in such an alluring way. It attracts your gaze, and before you realize it you have given away $500 to individuals that will uses it for their own pleasure. Read the review to find out what VCG Markets is made of.

VCG Markets is incorporated in Saint Vincent and the Grenadines. Whether this is true or not does not really matter. We will tell you what does. Saint Vincent and the Grenadines does not have an FX regulator, and it has publically said to on many occasions! Therefore, any broker claiming ground there is not locally regulated by anything. This means that VCG Markets is not licensed in the Caribbean islands nation, no matter if it is incorporated as a company or not.

There are no other details to work here. VCG Markets stick with the Saint Vincent and the Grenadines story till the end. We have no choice but to conclude that VCG Markets is unlicensed, and a risk to all!

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).

There was no way to a registration. We tried opening a demo account but the page just refreshed, which placed us in the exact same location as before we even started- idle. Therefore, we have to take all trading and payment information from the website of a proven unlicensed broker.

We gather that clients can trade with forex currency pairs, indices, and commodities. The EUR/USD spread of 1.4 pips is quite flexible, while the leverage of 1:500 is typical for most unlicensed brokers. These trading conditions may seem favorable, but in reality, they may not even be accurate. So please consider this possibility.

VCG MARKETS LOGIN

In an ironic twist of faith, we have the MT5 available to users, but only to those that have registered.

Therefore, we have a fully-functioning MT5 but no access to it on the account that we had not registered.

But the MT5 is here in all its glory, yet we still cannot recommend trading with VCG Markets for the broker is still not regulated.

VCG MARKETS MINIMUM DEPOSIT

We have to remind our readers that all investments with unlicensed brokers are risky to the extent that they can be lost and never recuperated.

As seen on the website, the minimum deposit is $100 however another section claims it to be $30. Therefore, in reality we cannot know for sure what the minimum deposit is eeing that the broker has confused us.

The payment methods are a bunch of crypto wallets, debit cards, credit cards, wire transfer, Neteller, and Skrill.

It takes between 1 to 3 days depending on the method to process a deposit request.

We have seen a claim stating that VCG Markets applies no deposit fees.

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.

VCG MARKETS WITHDRAW TIME AND FEES

There is no reason to believe that withdrawals will be available with this unlicensed broker!

According to the website, the same methods used for investing are also used for withdrawals.

It can take up to up to 14 days for card withdrawals to process and some 5 business dasy for wire transfers.

The minimum amount allowed to withdraw is $25.

Please note that there is a $100 fee for every wire transfer, but also a  1% off of Neteller and Skrill withdrawals.

ACCOUNT VERIFICATION

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!

BOTTOM LINE

VCG Markets is a typical FX scam, adorned with all the elements of one. All investments will be lost, and any personal and ID information that you have provided will be misused.