VAKSC Markets – Are They Secure?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
VAKSC Markets - DO NOT TRADE WITH THIS PROVIDER
2.6/10
$100
Minimum Depositupdated 2020
VAKSC Markets claims to be an international forex broker based in the UK. On their website, they have shown the address of St. Vincent and Grenadines. While in reality, the UK’s regulatory authority FCA (Financial Conduct Authority) has maintained an online register of all brokers who are licensed under them. So, if you search the FCA’s online register, you will find no VAKSC Markets broker registered with them.
In addition to this, the address given by VAKSC Markets is St. Vincent and Grenadines which is an offshore zone where no financial authority regulates the forex brokers.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://vaksc.com
Founded: 2020
Regulations: Unregulated
Languages: English
Deposit Methods: Online bank transfer, Astro pay card, Neteller, Perfect Money, Web Money, Bank cards (Master or Visa), Internal Transfer, and Skrill
Minimum Deposit: $100
Free Demo Account: N/A
Number of Assets: N/A
Types of Assets: Currency pairs, Precious metals, Commodities, and Indices
Trading Accounts and Conditions:
VAKSC Markets is offering three types of accounts:
- Pro Account: Minimum deposit for this account is $100, spreads are from 1.50 pips, and the leverage is 1:1 – 1:500. They charge no commission on this type of account, but they do charge an IB commission of $10.
- ECN Account: Minimum deposit is $5000, spreads are from 0.03 pips, and leverage is 1:1 – 1:300. They charge a commission of $3 on this type of account.
- VIP Account: Minimum deposit is $10,000, spreads are from 1.0 pips, and leverage is 1:1 – 1:400. They charge no commission on this type of account, but they do charge an IB commission of $3.
VAKSC Markets – Advantages
VAKSC Market offers no advantages to its clients for investing money with them.
VAKSC Markets – Disadvantages
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An Unregulated Enterprise
VAKSC Markets claims to be an international forex broker based in the UK. On their website, they have shown the address of St. Vincent and Grenadines. While in reality, the UK’s regulatory authority FCA (Financial Conduct Authority) has maintained an online register of all brokers who are licensed under them. So, if you search the FCA’s online register, you will find no VAKSC Markets broker registered with them.
In addition to this, the address given by VAKSC Markets is St. Vincent and Grenadines which is an offshore zone where no financial authority regulates the forex brokers.
So, we can conclude that the VAKSC Markets is neither regulated nor registered with the UK’s FCA authority. It is a non-legit forex broker because it doesn’t own a legit license to give online trading services. It is an unregulated scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Fake Version of Trading Software
The VAKSC Markets is providing its clients with Metatrader5 software as a trading platform. There is no doubt that this trading platform is one of the best platforms in forex markets because it comes with different types of options including charts that allow the clients to easily analyze the fluctuations of the price. This trading software comes with a demo account. So, if you want to test their MT5 in a demo environment, you will not be able to test it because in the VAKSC Market’s case the link to the demo account is not given. It means that the broker is using an unbranded fake version of Metatrader5. Furthermore, no matter how good the software a broker uses, it’s of no use if the broker itself is not a regulated legitimate forex broker.
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High Trading Leverage
The VAKSC Market is giving three types of accounts to its clients: A Pro account, an ECN account, and a VIP account. Although the spreads of these accounts are normal with 1.5 pips, 0.03 pips, and 1.0 pips respectively, the leverage they are offering is too high just to attract more clients to trade with them. Leverage is considered to be an account boost for clients trading online because it allows them to offer big positions with low minimum deposits. So, if the leverage can multiply the profit, it can multiply the loss too.
On the other hand, according to FCA regulatory authorities, it’s too risky to trade with such high leverages because in 75% of cases, clients incur loss in their trading transactions. This is why mostly licensed and regulated brokers don’t give leverages higher than 1:30 as it is safe for clients so that they don’t enter into risky transactions.
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Lies About Deposit Methods
The VAKSC Markets is offering three types of accounts to its clients where the first type is a Pro account with the lowest minimum deposit of $100, the second one is an ECN account with the minimum deposit of $5000, and lastly is the VIP account with the minimum deposit of $10,000. For minimum deposit amounts in these accounts, the VAKSC Market is providing different deposit methods to its clients such as Online bank transfer, Astro pay card, Neteller, Perfect Money, Web Money, Bank cards (Master or Visa), Internal Transfer, and Skrill. However, in reality, when you register an account with them and try to deposit money then you will come to know that the only working method to deposit the money is via bank transfer which takes three to five business days.
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Lies About Spreads
VAKSC Markets is advertising and offering the lowest spreads of 0.9 pips on majors, but this fact is not verified because despite giving such low spreads, they will not allow you to withdraw any amount of money.
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No Proper Functioning Website
At the bottom of the website, they have provided the clients the links to important information like history, core values, governance, etc., but actually when you click on these links they don’t respond. These links are broken.
- Misleading InformationVAKSC Markets falsely claims to be operated and owned by VAKSC Markets Pty Ltd. Here, if you see, the abbreviation “Pty Ltd” is a short form of “Proprietary Limited”. This is actually Australia’s legal business structure. So, they are giving incorrect information as they claim to be regulated by FCA while they are following the Australian business structure.
Conclusion
VAKSC Markets is an unlicensed scammer which is pretending to be a trustworthy and authentic broker to trap the clients to invest money with them. It has falsely claimed its regulation under the UK’s financial conduct authority. In reality, the VAKSC market is only an unauthorized and unregulated anonymous scammer that is based in an offshore zone. Therefore, if you trade with them your funds are not safe.
VAKSC Markets
Pros
- None
Cons
- An unregulated enterprise
- The fake version of trading software
- High trading leverage
- Lies about deposit methods
- Lies about lowest spreads
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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