Is Vix 500 a scam broker?
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Vix 500 is a brand owned by Blue Seal Limited and is registered at the Republic of Vanuatu in May 2016. Being an off-shore broker it has a variety of tax benefits like no capital gain tax, no income tax, and no inheritance tax. Even the registration process is low cost and fast processing for setting up a firm. Hence most of the forex and binary options brokers are registered in Vanuatu because of no strict policies (very lax ones). There is hardly any compliance checking and hardly any focus on consumer protection. Vix500 are forex and CFD brokers.
Vix500 supports MetaTrader4 platform. It is one of the most popular trading platforms used by brokers around the world. It is available for desktop, web, and mobile. It has a user-friendly interface and is equipped with advanced charting tools, a wide range of expert advisors, a large number of technical analysis indicators. Trading styles like hedging, scalping, and automated trading are welcomed by Vix500. No software download is needed. It is 100 percent web-based. It presents an overview of all currently active and completed contracts and displays all trading activities of other traders in real time. This helps in emulating the actions of successful traders. This platform is suitable for both new and experienced traders.
Payment methods are debit and credit cards (MasterCard, Maestro, and Visa), bank wire transfer, and Western Union. E-wallets are not available. Minimum withdrawal amount is $200.
Regarding orders execution, Vix500 is a b-book broker i.e. market maker. It offers commodities, currencies stocks and indices. It has nearly 180 assets from all over the world. A short description and supplementary data are provided with every asset available.
Vix500 is a scam broker because it is registered from Vanuatu but not regulated. Most of the scam brokers are either not regulated or if they are regulated then they obtain regulations from such countries where regulations are not too strict.
One of the comments on .scamanalyze.com wrote that in initial stages everything was going on well. Even initial withdrawals went well. But now he is worried because there is quite a lot of amount present in his account. As more and more news of online scam companies hitting the headlines daily, his worry is increasing.
Another author shares his experience that until you open account the company staff is very nice. They ask for more and more amount and when you want to end the contract they will not give the money back. He is “begging” for the money that is stuck up in his account since last two months but still not released. He further writes that the company is blacklisted in France since September.
One of the authors on .fxtradingrevolution.com wrote that he was able to recover his funds with help of a professional and is now relieved.
Vix500 is a scam broker brokerage house and if you are a fraud victim you can contact MyChargeBack to recover your money. MyChargeBack has a team of professionals from the legal, financial and regulatory background. They assist a victim of scams, be it online, cryptocurrency, binary options, forex, diamond or any other, right from beginning to end.