de | cn | ru

VIPinvestFX Review - is it scam or safe?

VIPinvestFX Review - is vipinvestfx.com scam or good binary options broker?

RATING: 1 / 0 REVIEWS VIPinvestFX
VIPinvestFX is not regulated. We cannot guarantee your money is safe.

Trading accounts and conditions

 

Trading account  Min. deposit Min. bet size Payout
Basic  $250 N/A N/A
Silver  $1 000 N/A Up to 88%
Gold  $5 000 N/A N/A
Platinum $10 000 N/A N/A
Diamond $20 000 N/A N/A
VIP  $50 000 N/A N/A

 

 

Binary options broker VIPinvestFX offers as many as six account types. As you can probably guess by the gaps in the table above, it is not that clear about its trading conditions. Yet, our main concern with VIPinvestFX is that it is not regulated and targets European investors.

 

Despite the bad signs that we see on this broker’s website, there are still a few supposed benefits that this broker is promising traders. We will start off with those.

 

 

VIPinvestFX Advantages

 

Platform not bad, seemingly attractive payouts

The web-based platform used by VIPinvestFX seems user-friendly and offers good charting, powered by TradingView. Here is a preview:

 

 

Click to zoom in.

 

As you can see from the above image, payouts on the most liquid currency pair, EUR/USD, are up to 88%, which seems like an attractive offer.

 

Many asset classes covered

VIPinvestFX  covers many asset classes, offering binary options on some major currencies, indices ( Dow Jones Industrial Average, NASDAQ 100 Futures, CAC 40, FTSE and S&P 500), international stocks (Apple, Citigroup Inc., Coca Cola Company, BMW and Sony), commodities such as Gold, Crude Oil and Silver.

 

VIPinvestFX Disadvantages

 

Not licensed, illegally targeting EU investors

VIPinvestFX is a trading name of Allgreen Capital Ltd., address: 8 Copthall, an entity allegedly situated and registered in the Commonwealth of Dominica, which also operates forex brokerage Concept4x.

 

Companies operating out of Dominica are bound by certain international banking regulations, however, financial services providers such as forex and binary options brokers are not regulated at this time. This is a sign of trouble because with no regulatory oversight we can’t be certain about the company behind the operation and whether it will fulfill its obligation towards clients.

 

Another thing that bother us with regards to VIPinvestFX is that it seems to illegally target European investors, given the contact phone numbers on its website and the fact that its website is available in English, French, and German, among other languages.

 

 

Trading conditions not fully disclosed

We always view the lack of information as huge negative, but having in mind the regulatory status of the brokerage, it is no surprising. VIPinvestFX has not disclosed essential parts of its offer, such as the payout percentages, minimum bet sizes, etc. A test-drive of the broker’s trading platform is also unavailable, so we can safely conclude that VIPinvestFX is not transparent with its trading conditions. This is actually very typical of scam brokers, so you’d better avoid VIPinvestFX.

 

Additional charges and other unfavorable conditions

We always read the Terms and Conditions and other documents presented by forex brokers, as sometimes there are some nasty clauses written in small print. In the case of VIPinvestFX, its clients, upon signing the user agreement, agree that the broker is not committed to any time frame regarding withdrawal processing time, as well as to any additional charges.

 

 

Click on the image to view larger.

 

Furthermore, VIPinvestFX applies pretty hefty withdrawal fees. Credit card withdrawals are charged a flat fee 3.5% from the withdrawal amount (or a minimum of $30), and wire transfer fees incur a fee of  $30. Furthermore, dormant clients ( inactive for more than a month) will be charged 100 USD, EUR, GBP per month as management fee.

 

 

Conclusion

 

VIPinvestFX is a binary options broker allegedly operating out of Dominica. Yet, it seems to target European investors, which is actually illegal. All companies providing financial services in Europe, have to be licensed by a legit financial regulator. As regards binary options, they have been banned on a EU level.

 

Taking into account that the website of the broker does not disclose essential trading conditions, and that testing service is not available either, it is very probable that VIPinvestFX runs some sort of investment scam.

               

In order to avoid being scammed, you’d better only deal with entities holding licenses from reputable financial regulators like UK’s FCA, or Cyprus’ CySEC (in Europe). These regulatory agencies require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

 

 

>> Trade with a CySEC regulated broker <<

 

 

To sum up the strong and weak sides of VIPinvestFX:

 

Pros Cons
Seemingly attractive payouts Not licensed
Platform with nice charting, many assets available Illegally targeting EU investors
  Unclear trading conditions
  Additional charges and other unfavorable conditions

 

Latest news about VIPinvestFX
No news about VIPinvestFX . Check back later.
Broker Country Regulation Min deposit Max payout Review
Australia ASIC $50 88% Review Website
Cyprus CySec $200 89% Review
Cyprus CySEC $250 83% Review

Traders` reviews for VIPinvestFX

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru