Global Forex Broker Regulatory Inquiry APP


1.37 /10


United States

Scam Brokers

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk


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Business Index 5.90
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No valid regulatory information, please be aware of the risk!

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+1 247-898-7654

Broker Information


Company Name


Company Abbreviation


Platform registered country and region

United States

Company website

Pyramid scheme complaint


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This platform is a Ponzi Scheme. Please stay away! 3
Previous Detection : 2023-06-08
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Verification

Pyramid scheme complaint
V7Markets · Company summary

General Information

Registered in Canada, V7Markets is an online forex broker offering a series of trading instruments, such as Forex, Individual Stocks, Commodities, Precious Metals, Energies and Equity Indices.

Investors have the flexibility to choose from five trading accounts through the V7 Markets platform, and the minimum deposit to trade with V7 Markets starting at $200.

V7 Markets is not authorized or regulated by any regulatory authorities, so trading with this forex broker need to take extra vigilance or just stay away from it.

Market Instruments

V7Markets says it provides easy access to a massive financial markets. Different types of trading assets including Forex, Individual Stocks, Commodities, Precious Metals, Energies and Equity Indices are all available through this brokerage platform.

Account Types

V7Markets provides a total of five types of trading accounts to suit its clients varying trading needs, Standard, Silver, Premium, VIP and Exclusive accounts.

To open a Standard account, traders need to fund at least $200, which sounds acceptable. However, initial deposits become quite high for the other four trading accounts, with the Silver account from$1,000, the Premium account from $5,000, the VIP account from $10,000, and the Exclusive account from $20,000.



When it comes to leverage, V7Markets allows its traders to use leverage of up to 1:100 for forex trading. This is not the safe option for inexperienced traders, and it is much higher than the levels regarded appropriate by many regulators.

Bear in mind that high leverage offered is not always the good thing, as it can magnify gains as well as losses.


Spreads are not mentioned on the V7Makets website. This broker claims that it provides a zero-commission trading environment, which means there is no markup on stocks and ETFs.


Trading Platform

V7Markets provides its clients access to both MT4 and MT5 trading platform and some features and functionalities of these two trading platforms include the following:

  • User friendly and high-customized

  • Multiple technical indicators, and robust charting tools

  • Free EA hosting capabilities

  • Web and mobile trading support

Payment Methods

The minimum deposit to trade with this forex broker is $200. V7Markets allows its clients to make deposits and withdrawals through a range of trading instruments, including VISA, MasterCard, Fasapay, Online Banking, Local Transfer, Bank Wire Transfer.

The time for deposited funds or withdrawn funds to appear in your account depends on various payment.

Customer Support

Traders can reach out to V7Markets about any questions or concerns they may have about their accounts or their trading through the following methods:

Telephone: (+01) 247-898-7654


The more effective communication channel, online chat, is not available.


Restricted Regions

V7 Markets does not accept clients from specific countries, such as Canada, USA and EU.

Risk Warning

There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.

The information presented in this article is intended solely for reference purposes.


Alert!!! User scammed by this Broker

NewsAlert!!! User scammed by this Broker

2023-03-28 18:03

On 27 March,2023 A user from Bengal,India registered a complain against V7 Markets on Wikifx and asked for help.User told in his Complaint, he has a trading account on V7 Markets. Through which he traders and earns money in FX market.

2023-03-28 18:03
Alert!!! User scammed by this Broker

User Reviews

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more than one year
To be frank, I still didn’t tried it. I’m writing review just for the customer service that was really nice even if a little bit slow and suspicious.
2023-02-28 13:50
more than one year
So far so good. Great company, I truly recommend it to anyone that wants to start with a small amount of capital. Professional approach and very helpful.
2022-12-12 14:14
more than one year
They said that a welcome bonus of $500 is provided. Sounds familiar? A typical trap just to induce you to deposit more and more. You will end up with losing all your money.
2022-12-07 16:09
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