|

Information

    Homepage   >     Original    >     Main body

    WikiFX Visited Fraudulent Forex Broker VTGFX

    Abstract:WikiFX recently visited VTGFX, a Forex broker with a poor WikiFX rating of 1.68, in order to investigate its “license office”.
    英.jpg

      WikiFX recently visited VTGFX, a Forex broker with a poor WikiFX rating of 1.68, in order to investigate its “license office”.

      VTGFX claimed on its website that it holds an STP license from CYSEC(Cyprus), with a license number of 107/09.

    1.png

      VTGFXs information from WikiFX App

      Upon investigation, WikiFX found the following information about license number 107/09 on CYSEC(Cyprus Securities and Exchange Commission)s website:

    2.png

      Regulatory information of license 107/09 from CYSEC

      According to CYSECs website, the holder of license 107/09 is “TTCM Traders Trust Capital Markets Ltd”, not VTGFX. Following the reveal of this suspect information, we paid a visit to the address from the regulatory information to see whether it is truly the office location of VTGFX as the broker has claimed.

      The WikiFX team arrived at VTGFXs alleged office location at 56, Theodorou Potamianou, APHRODITE COMPLEX, 4th Floor, Kato Polemidia, CY-4155 Limassol.

      Street view of Theodorou Potamianou

      Having found the striking logo of “APHRODITE COMPLEX” on the building at 56, Theodorou Potamiano street, we entered the complex in hopes of finding VTGFX.

      Floor directory of the building

      After checking the floor directory, we did not find VTGFX but rather found TTCM, the holder of license 107/09 according to CYSEC regulatory information.

      We got to the fourth floor to check if the broker VTGFX was located in the building. However, we failed to find any other Forex brokers on this floor besides TTCM. Conversation with TTCM staff also supported our conclusion: VTGFX is not located at the address as its website claimed.

      In addition, TTCMs customer service also confirmed that VTGFX is not related to TTCM.

    5.png

      Conversation with TTCM customer service

      After investigation, we can confirm that VTGFX is operating under a cloned license, as the broker‘s office can’t be found at the alleged address from VTGFXs website. Information from TTCM, the real holder of the license, also supports this conclusion.

    6-VTGFX-英.jpg

      VTGFXs interface from WikiFX App

    7-MT4-英.jpg

      VTGFXs MT4/5 verification from WikiFX App

      WikiFX App suggests that VTGFX, rated at 1.68 on WikiFX, cloned the license of TTFM and uses white-label software with server set in Japan. Investors need to beware of the risk and stay away from the broker.

      Conclusion

      After their visit, WikiFX confirms that VTGFX is a cloned-license broker without valid regulation or a verifiable office address. We advise investors to stay away from it.

      Download WikiFX App to check out more on our visit reports, covering Forex brokers worldwide including in UK, Australia, Cyprus and Hong Kong. We currently have hundreds of brokers visited and filed for our users.

    8-FXCM-英.jpg

      Brokers interface from WikiFX

      Go to brokers page, click “Field Survey” at the bottom to view the information of those brokers visited.

      WikiFX will visit more brokers around the world, in hope of helping Forex investors identify the legal and reliable platforms to ensure the safety of your assets.

    Latest News

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Convertible Amount
    -- United States Dollar
    Warning

    The data of WikiFX all comes from official data of various forex regulatory institution such as FCA,ASIC,etc. These data are all purpose of being fair、objective and realistic,which doesn't ask for any public relations fees, advertising fees, ranking fees, data removing fees and other gray fees.WikiFX will do its best to maintain the consistency and synchronicity of its data with that of authoritative data sources with regulatory authorities, but will not undertake to keep it consistent and synchronized in real time.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Notice: Information provided by WikiFX is only for reference and does not indicate any investment advice. Investors should choose brokers by themselves. The risk involved with brokers is not relevant with WikiFX. Investors shall bear the relevant consequences and responsibilities on his own.

    ×

    Select Country/District