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

VP Markets

United Kingdom|2-5 years|
Regulated in United States|Suspicious Regulatory License|MT4/5 White Label|Chinese market only|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

http://www.vpmarkets.com/?zh_cn=zw

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
VPMarketsGlobal-Demo MT4
Server Location Hong Kong

Contact

support@vpmarkets.com
http://www.vpmarkets.com/?zh_cn=zw
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

Broker Information

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Company Name

VP Markets

Company Abbreviation

VP Markets

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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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 10 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
Unable to withdraw

Unable to withdraw

I withdrew on July 14, and the account showed it was successful on the night of July 19. But the capital was not transferred after a week. The balance on the platform reduced.

2021-07-21 12:11
Unable to withdraw

This Fraudster Scammed me.

I am quite new to Forex trading on VPMarkets and very enthusiastic about it. I was playing with a demo account provided by a broker in Hong Kong. Somebody who had a real account with the same broker introduced me to it and was showing me how to use it. Thanks to their trading instructions, in few days I made $142K. That sounded awesome and of course too good to be true. So, I opened other demo accounts with different brokers without telling them, to compare results and see how real was the pricing behavior that gave me the $142K profit. These spikes in the bottom image happened at the same time I was instructed to whether buy or sell and it seems that was what gave me these crazy profits. So I believe they were manipulating their server and the pricing. Therefore, I am 99.99999% sure the broker in Hong Kong is a scam. How prevalent is this situation in the industry? These spikes in the bottom image happened at the same time I was instructed to whether buy or sell and it seems that was what gave me these crazy profits. So I believe they were manipulating their server and the pricing. Therefore, I am 99.99999% sure the broker in Hong Kong is a scam. How prevalent is this situation in the industry?

2021-09-10 21:47
Scam

unable to withdraw

i requested for $250 from my deposited fund and I've been debited but I've not seen my money I've contacted the customer care service but they are not responding ive been scammed VP market is a scam

2021-05-01 22:46
Scam

After changing the password of the account without permission, the transaction was also carried out without permission and forced bankruptcy

Introducing by a person named Naomi (account name: Chihori) on Line, I deposited 0.12 BTC to vp-marketfx.com and my account reflected $5810. In XRP futures trading, Naomi has a financial analyst teacher who says that if you follow his trading instructions, you will definitely make a profit, and the first MT4 trading made a profit of $960. I was urged to make an additional investment of 1 million yen to Naomi, but if I said that I didn't have such a large amount of money, it was reduced to 300,000 yen, and Naomi made a deposit of $4,400 even though I hadn't asked for it. After depositing 300,000 yen, I received a reply when I sent a trading order four times a week, but I traded in my own way and earned up to $16610. When I asked how to withdraw, there was a dedicated withdrawal link, and I was urged that the balance would not be withdrawn unless I paid 300,000 yen by the deadline. After continuing the transaction, the password was changed without permission and the transaction became unavaliable. When I asked Naomi, I wanted him to invest 300,000 yen, so I asked my teacher to change my password, and if I wanted a password, I was urged to deposit 300,000 yen. Before I knew it, there was a password re-registration form, so when I logged in for the first time in 10 days, the password was changed, and the transaction was made without permission that night, and I was in bankruptcy.

2021-12-31 15:42

    VP Markets · Company Summary

    Aspect Information
    Company Name VP Markets Global Ltd
    Registered Country/Area United Kingdom
    Founded Year 2019
    Regulation Unauthorized by the NFA
    Minimum Deposit $100
    Maximum Leverage Up to 1:500
    Spreads As low as 0.0 pips
    Trading Platforms MetaTrader 4 (MT4)
    Tradable Assets Forex, CFDs, Cryptocurrencies
    Account Types Standard, Pro, VIP accounts
    Customer Support Email support@vpmarkets.com
    Deposit & Withdrawal Credit cards, bank transfers, e-wallets, and cryptocurrencies
    Educational Resources A basic trading guide and a video tutorial

    Overview of VP Markets

    VP Markets Global Ltd, founded in the United Kingdom in 2019, is a prominent player in the world of online trading. This global trading platform offers a diverse array of financial instruments, spanning forex, CFDs, and cryptocurrencies.

    Operated and owned by VP Markets Global Ltd, a company incorporated in the United Kingdom, VP Markets provides traders with access to a range of trading opportunities. However, it's important to highlight that VP Markets Ltd currently operates without authorization, relying on a Common Financial Service License (License No. 0523791) in the United States.

    Overview of VP Markets

    Is VP Markets legit or a scam?

    VP Markets Ltd is currently unauthorized and operates under a Common Financial Service License in the United States with License No. 0523791. The regulatory oversight is administered by the National Futures Association (NFA). However, it is important to note that the institution does not possess the authorization to share this license type.

    Is VP Markets legit or a scam?

    Pros and Cons

    Pros Cons
    Wide variety of financial instruments Some allegations of fraud and scams
    Competitive spreads and commissions Limited educational resources
    User-friendly trading platform Regulation unauthorized
    Slow response times for customer support

    Pros:

    1. Wide Variety of Financial Instruments: VP Markets offers a diverse range of financial instruments, allowing traders to diversify their portfolios and explore various market opportunities.

    2. Competitive Spreads and Commissions: The platform provides competitive spreads and commissions, contributing to cost-effective trading.

    3. User-Friendly Trading Platform: An intuitive interface simplifies the trading process, making it easier to execute trades and manage investments effectively.

    Cons:

    1. Some Allegations of Fraud and Scams: There have been allegations of fraud and scams associated with VP Markets. These allegations can raise concerns about the platform's credibility and reputation in the industry, prompting traders to exercise caution and conduct thorough due diligence.

    2. Limited Educational Resources: For traders seeking to enhance their knowledge and skills, the lack of educational materials and support can be a drawback, potentially hindering their ability to make informed trading decisions.

    3. Regulation Unauthorized: VP Markets operates without proper regulatory authorization, which can be a significant concern for traders.

    4. Slow Response Times for Customer Support: The platform may experience slow response times for customer support inquiries.

    Market Instruments

    VP Markets provides an extensive range of financial instruments to cater to diverse trading strategies and preferences. These offerings encompass:

    Forex Trading: Access the world's major currency pairs, including the US dollar, euro, Japanese yen, and more. Benefit from the dynamic foreign exchange market to trade with precision and flexibility.

    CFDs (Contracts for Difference): Engage in CFD trading, which enables traders to speculate on the price movements of various assets, including stocks, indices, commodities, and cryptocurrencies. This versatile trading option allows you to diversify your portfolio and capture opportunities across multiple markets.

    Cryptocurrencies: Dive into the world of digital assets with cryptocurrencies like Bitcoin, Ethereum, and a selection of other popular digital currencies. Stay ahead of the evolving cryptocurrency market and explore potential returns in this innovative asset class.

    VP Markets empowers traders with a comprehensive suite of financial instruments, ensuring they have the tools and opportunities to pursue their investment goals across various markets.

    Market Instruments

    Account Types

    VP Markets provides three distinct account types to suit various trading preferences:

    Standard Account: This account type is ideal for traders looking for a low entry point, with a minimum deposit of $100. It offers leverage of up to 1:500, spreads as low as 0.1 pips, and no commission fees. Traders can also utilize a demo account and MetaTrader 4 for trading.

    Pro Account: For more experienced traders, the Pro account offers tighter spreads at 0.0 pips and the same leverage of up to 1:500. The minimum deposit requirement is $10,000, but traders benefit from commission-free trading. Like the Standard account, it includes a demo account and access to MetaTrader 4.

    VIP Account: Tailored for high-net-worth individuals and advanced traders, the VIP account boasts the same leverage and spreads as the Pro account but requires a minimum deposit of $50,000. Traders enjoy commission-free trading, access to a demo account, and the powerful MetaTrader 4 platform.

    Feature Standard Pro VIP
    Leverage Up to 1:500 Up to 1:500 Up to 1:500
    Spread 0.1 pips 0.0 pips 0.0 pips
    Commission $0.00 per 1,000 traded units $0.00 per 1,000 traded units $0.00 per 1,000 traded units
    Minimum Deposit $100 $10,000 $50,000
    Demo Account Yes Yes Yes
    Trading Tools MetaTrader 4 MetaTrader 4 MetaTrader 4
    Account Types

    How to Open an Account?

    Opening an account with VP Markets is a straightforward process that can be broken down into seven clear steps:

    1. Visit VP Markets Website:

      Go to the official VP Markets website (www.vpmarkets.com) in your web browser.

    2. Registration:

      Click on the “Sign Up” or “Register” button to begin the account creation process.

    3. Choose Account Type:

      Select the type of trading account you wish to open (e.g., Standard, Pro, VIP).

    4. Provide Personal Information:

      Fill out the registration form with your personal details, including your full name, email address, phone number, and residential address. Ensure all information is accurate.

    5. Verify Identity:

      VP Markets may require you to verify your identity by providing valid identification documents, such as a passport or driver's license, as well as proof of address (e.g., utility bill).

    6. Fund Your Account:

      Deposit funds into your trading account using one of the available payment methods. VP Markets typically accepts deposits via bank transfers, credit/debit cards, and various e-wallets.

    7. Start Trading:

      Once your account is funded and verified, you can log in to the trading platform (e.g., MetaTrader 4) provided by VP Markets.

    Open an Account

    Leverage

    VP Markets offers leverage up to 1:500 on forex and CFDs. Leverage allows traders to control a larger position with a smaller deposit. However, it is important to use leverage responsibly, as it can amplify losses as well as profits.

    Feature Standard Pro VIP
    Leverage Up to 1:500 Up to 1:500 Up to 1:500

    Spreads & Commissions

    VP Markets' spreads are floating, which means they vary depending on market conditions. Here are the typical spreads for each account type and currency pair:

    Account Type Currency Pair Typical Spreads
    Standard EUR/USD 0.1 pips
    Pro EUR/USD 0.0 pips
    VIP EUR/USD 0.0 pips

    VP Markets' commissions are fixed, which means they do not vary depending on market conditions. Here are the commissions for each account type and currency pair:

    Account Type Currency Pair Commissions
    Standard EUR/USD $0.00 per 1,000 traded units
    Pro EUR/USD $0.00 per 1,000 traded units
    VIP EUR/USD $0.00 per 1,000 traded units

    Additional notes:

    • In some cases, VP Markets may offer promotions that reduce spreads or waive commissions.

    • When calculating spreads and commissions, it is important to note that they are calculated based on the trading volume, not the trade amount. For example, if you trade 100,000 EUR/USD units and the spreads are 0.1 pips, you will need to pay 10 USD in spreads.

    Spreads & Commissions

    Trading Platform

    VP Markets Global Ltd provides access to the widely recognized MetaTrader 4 (MT4) trading platform, known for its popularity and reputation in the global trading community. MT4 offers several features that enhance the trading experience.

    Firstly, MT4 features a user-friendly interface suitable for traders of all levels. Its intuitive layout simplifies navigation, trade execution, and access to a variety of analytical tools. The platform's extensive charting capabilities include numerous technical indicators, chart types, and timeframes, aiding traders in making well-informed decisions.

    Another notable aspect of MT4 is its support for automated trading via Expert Advisors (EAs). Traders can create, test, and deploy automated trading strategies, streamlining trading processes and improving efficiency.

    Trading Platform

    Deposit & Withdrawal

    VP Markets offers a variety of payment methods, including:

    • Credit and debit cards (Visa, Mastercard, Maestro)

    • Bank transfer

    • E-wallets (Neteller, Skrill, PayPal)

    • Cryptocurrencies (Bitcoin, Ethereum, Litecoin)

    VP Markets offers flexible minimum deposit options to cater to varying trader preferences. For the Standard account, the minimum deposit requirement is just $100, making it accessible to traders looking to start with a modest investment. The Pro account, with a minimum deposit of $10,000, is ideal for those seeking enhanced trading capabilities. For seasoned traders and high-net-worth individuals, the VIP account offers exclusive benefits with a minimum deposit of $50,000.

    Feature Standard Pro VIP
    Minimum Deposit $100 $10,000 $50,000

    There are no fees for depositing and withdrawing funds into your VP Markets account. However, there may be fees charged by your bank or payment provider. Please note that the processing times for withdrawals may vary depending on the payment method you choose. For example, withdrawals to credit and debit cards typically take 3-5 business days to process, while withdrawals to e-wallets typically take 1-2 business days to process.

    Deposit & Withdrawal

    Customer Support

    VP Markets faces a deficiency in market support, with official contact limited to email correspondence at support@vpmarkets.com. Unfortunately, response times have been reported as slow, which can be a significant drawback for traders seeking timely assistance and support.

    Customer Support

    Educational Resources

    VP Markets provides a modest selection of educational materials, consisting of a fundamental trading guide and a video tutorial. These resources aim to assist traders in developing a foundational understanding of trading principles and strategies. However, for those seeking more comprehensive educational support, it's worth considering additional external learning sources to enhance their trading knowledge and skills.

    Conclusion

    In conclusion, VP Markets offers a diverse range of financial instruments and a user-friendly trading platform, making it appealing to traders. However, significant concerns arise due to its lack of proper authorization and allegations of fraudulent activities. Traders should exercise caution when considering this platform, especially given the limited educational resources and slow email support response times.

    FAQs

    Q: What financial instruments can I trade on VP Markets?

    A: VP Markets offers a variety of financial instruments, including forex, CFDs, and cryptocurrencies.

    Q: Is VP Markets a regulated platform?

    A: VP Markets operates without proper authorization or regulation, which is a point of concern for traders.

    Q: Are there any allegations of fraud associated with VP Markets?

    A: Yes, there have been allegations of fraud and scams related to VP Markets.

    Q: What is the minimum deposit requirement for VP Markets?

    A: The minimum deposit varies based on the account type, ranging from $100 to $50,000.

    Q: Does VP Markets provide educational resources for traders?

    A: VP Markets offers limited educational resources, potentially leaving traders seeking more in-depth learning opportunities.

    Q: How can I contact customer support on VP Markets?

    A: You can contact VP Markets customer support via email at support@vpmarkets.com, although response times may be slow.

    User Reviews

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    FX1508115487
    more than one year
    VP Markets 是一个全球骗子。向当地警方和州检察长办公室报告。当地警方会将证据送交联邦调查局。如果有足够多的人举报该骗局,他们将展开调查。我也被骗了,但没有许多其他同样被骗的受害者的帮助,我无法前进。你并不孤单,你可以反击。
    2023-03-12 08:22
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    0
    FX1124654999
    more than one year
    I didn't want to use this word but the longer I wait the more I believe they are just a scam! I don’t know what to do with this stupid *** company...
    2022-12-11 10:42
    Reply
    0
    0
    FX1111417435
    more than one year
    I made a withdrawal two weeks ago, and the account showed it was successful. But my money was not transferred after a week. I asked their customer support team many times, but they just gave no response.
    2022-12-06 15:29
    Reply
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