Virtus Capital – Can You Trust Them?

Website URL: https://virtuscapital.world

Founded: 2021

Regulations: No Regulation

Languages: English, French

Deposit Methods: Cryptocurrencies

Minimum Deposit: $250

Free Demo Account: No

Number of Assets: 200+

Types of Assets: Stocks, Forex, Cryptocurrencies, Commodities

Trading Accounts and Conditions

Virtus Capital offers their clients the following trading plans (not accounts):

• Newbie: The minimum funding amount is $250. The maximum leverage is 1:50.
• Standard: The minimum funding amount is $2,500. The maximum leverage is 1:100.
• Golden: The minimum funding amount is $7,000. The maximum leverage is 1:150.
• VIP: The minimum funding amount is $30,000. The maximum leverage is 1:200.

There is no mention of other key trading conditions such as spreads, order execution methods, commissions and so on.

Virtus Capital – Advantages

There are no advantages to trading with Virtus Capital.

Virtus Capital – Disadvantages

Given below are all the serious problems that reveal Virtus Capital’s scam:

• Unregulated and Anonymous Entity

The first indication a broker’s legitimacy is the information they provide about their corporate identity and their regulation status. So, if a broker does not give all these details, you can be certain that cannot be trusted.

With Virtus Capital, we have absolutely no corporate information – no company name, no address (physical or otherwise), and no contact details. The only way to get in touch with this broker is via a Contact Us button on their website. This complete anonymity tells us that we are dealing with a scammer.

Because of the anonymous nature of this broker – and the fact that they have not mentioned anything on their website about being regulated, we can say for sure that they are not licensed to operate in any jurisdiction.

There only a single reference to anything that could be considered anything remotely legal, which is when the broker mentions that if there is any dispute between them and the client, then such disputes would be settled in a Polish court of law. However, to be under Polish law would mean that a broker would need to be regulated by the PFSA (Polish Financial Supervision Authority).

We, of course, checked the PFSA’s online records to see if Virtus Capital was registered with them. We were not surprised to see that this broker (or any company by that name) was not listed with this authority.

All of this information tells us that Virtus Capital is an anonymous and unregulated broker – a dangerous scammer.

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• No Trading Software

Virtus Capital claims to offer their clients the use of the world-famous MetaTrader 5 trading software. There is even a download link on their website, which almost convinced us that this broker actually did offer what it was promising.

However, when we clicked on that download link and downloaded the MT5 software, we realized that it was actually the default demo software taken from the MetaQuotes’ (the company that developed this software) website. This means that the version of the MT5 software offered by Virtus Capital is actually a non-functional one since you cannot carry out real-time trades on it; it is only for demo purposes and not a properly licensed version of the platform.

Since there is no other trading software offered by this broker, we can say for certain that Virtus Capital does not have a trading software at all!

• Issues with Trading Conditions

Now, even though this broker does not have any trading software, we still need to discuss their trading conditions (or lack thereof).

The minimum deposit that this broker asks for isn’t too high, but isn’t exactly advantageous either. There are a large number of really high-quality online brokers who will let you open a trading account with them for less than $10.

As for the leverage, we can say that not only is it too high, it is also (in all probability) illegal too. From our investigation, we found a reference to Polish law, which implies that this broker could be targeting traders in Europe. If this is the case, then a maximum leverage of 1:200 is illegal, since the maximum allowing in the EU jurisdiction is 1:30.

And finally, the fact that there are no spreads, commissions and other trading conditions mentioned also tell us that we are dealing with a sloppy scammer, one that is just skimming through details by appearing to be legitimate.

• Issues with Funding Methods

Legitimate brokers offer their clients a wider range of payment options. These options include traditional payment methods such as debit cards and credit cards, bank transfers and wire transfers. They also include more modern payment methods such as online payments through PayPal, Neteller, Skrill and so on. And now, many brokers also offer cryptocurrencies as a payment option.

With scam brokers, you get limited payment options. These payment options are usually those that cannot be traced or offer cashbacks. In fact, the most popular transaction method offered by scam brokers is cryptocurrencies. This is because such transactions are completely anonymous and permanent; once you have transferred your money using cryptos, there is no way that you will be able to get it back or even find out where it has gone.

This is the reason why we recommend that transactions with new brokers should be via credit or debit cards. These transactions are traceable and you can also apply for a chargeback in case you get scammed. So, if a broker does not offer safer payment options, you can be sure that they are running some sort of a scam and it is best to stay away from those entities.

And with Virtus Capital, we see a perfect example of this scam, where the broker offers only one payment option – Bitcoin. And that too, the payment has to be made via an obscure and very suspicious crypto wallet. 

Conclusion

Virtus Capital is a dangerous scammer and best avoided.

Virtus Capital

2.3

User Experience

2.5/10

Payment Options

2.0/10

Security

2.0/10

Support

2.3/10

Reputation

2.6/10

Pros

• None

Cons

• Unregulated and Anonymous Entity
• No Trading Software
• Issues with Trading Conditions
• Issues with Funding Methods