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The WikiFX Score of this broker is reduced because of too many complaints!

VEONCO

United Kingdom|5-10 years|
Regulated in United States|Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

http://veonco.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
VeoncoGroup-Live MT5
Server Location United States

Contact

support@veonco.com
http://veonco.com
HugeDomains 2635 Walnut St. Denver, CO 80205
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

MY SCM
2020-01-01

Broker Information

More

Company Name

Veonco Group Ltd

Company Abbreviation

VEONCO

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 4
Previous Detection : 2024-03-19
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 26 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Pyramid scheme complaint
Expose

    VEONCO · Company Summary

    Basic Information & Regulation

    Veonco is an online Forex and CFD broker and is not currently subject to any effective regulation.

    Safety Analysis of Veonco

    The prerequisite of measuring the safety of a broker is to see if it is formally regulated.

    Veonco is currently an unregulated broker, which means that clients' funds and trading activities on the Veonco platform are completely unprotected compared to those regulated by the FCA in the UK, CySEC in Cyprus, and ASIC in Australia.

    Market Instruments

    Veonco provides investors with access to popular financial instruments, mainly Forex currency pairs, indices, stocks, and CFDs on commodities.

    Accounts & Leverage of Veonco

    Veonco offers investors four different trading accounts: Classic (minimum deposit of $100), Standard (minimum deposit of $3,000), Premium (minimum deposit of $10,000), and Custom (minimum deposit of $100,000). The maximum leverage for Classic accounts is 1:200.

    Spreads & Commissions

    Spreads on Classic accounts start at 3 pips, which is much higher than the industry standard, while spreads and commissions on other accounts are not known at this time.

    Trading Platform Available of Veonco

    Veonco offers traders the most popular trading platform available, MT5, which is not as popular as MT4 but has more technical indicators and timeframes, as well as a range of powerful charting tools and Expert Advisors for automated trading.

    Deposit and Withdrawal

    Veonco supports traders to deposit and withdraw funds to and from their investment accounts via VISA, MasterCard, DISCOVER, PayPal.

    Pros & Cons of Veonco

    The main advantages of Veonco are:

    1. Wide variety of trading assets

    2. Four types of trading accounts to choose from

    The main disadvantages of Veonco are:

    1. No regulation

    2. High spreads & other trading conditions not provided

    3. Fewer ways to deposit and withdraw funds

    4. Leverage information not provided for Standard, Premium, and Tailored accounts


    News

    Is veonco.com scam or good forex broker?

    NewsIs veonco.com scam or good forex broker?

    2021-12-16 23:12

    Veonco is a forex and CFD broker who doesn’t disclose much details about the entity behind the operation. This, of course is a major issue, as well as the fact that this brokerage doesn’t hold a lgit forex license. So, if you are tempted by the seemingly attractive offer of Veonco, be sure to read the following lines first.

    WikiFX
    2021-12-16 23:12
    News
    Is veonco.com scam or good forex broker?

    User Reviews

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    User comment

    2

    Comments

    Write a review

    チャンミン
    more than one year
    After I was defrauded of money by the scammer VEONCO, someone found me and said that he was also a victim and invited me to join the rights protection WhatsApp group chat. Unexpectedly, I was cheated out of money again in this so-called victim alliance group... I have lost my trust in human beings now.
    2023-03-16 17:32
    Reply
    0
    0
    FX1313551230
    more than one year
    VEONCO, the vile liar, has absconded with money after defrauding me and many other victims and is now selling his domain name. I really hope these scammers are brought to justice soon.
    2023-03-07 18:32
    Reply
    0
    0
    27
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