ViseFX is a CFD broker offering a multi-asset trading platform. The firm boasts impressive claims: $24 billion in daily turnover, 10 million registered users, and an office in the UK. The legal entity behind it is Pibex Ltd, registered in the Marshall Islands. The company even introduces us to its team, with the CEO being businesswoman Emily Elfie. However, there are surprisingly few reviews online for a platform with 10 million traders, and there’s no licensing information available. So, is it safe to trade here? Let’s delve deeper.
How to Trade
To start trading with ViseFX, you need a minimum deposit of $249, as this is the required amount to open the first type of account. The broker offers three different account types:
- Beginner from $249. The tariff includes the financial advisor, your dashboard, components included, auto trader, and daily signals.
- Premium from $499. Additionally offered educational sessions.
- Ultimate from $1,499.ViseFX opens all its services to the owners of this tariff: unlimited devices, unlimited withdrawals, and algo trading.
ViseFX hides crucial details: commissions, spread sizes, and the type of spreads. And the maximum leverage of 1:1000 suggests a lack of regulation.
Clients can trade stocks, metals, commodities, forex, and other asset classes. All instruments are presented as CFDs. There are educational videos available, and 24/7 technical support.
ViseFX Vital Info
The company doesn’t mention when it was founded. Notably, the founding date is a crucial detail in any broker’s history. Given that the domain was registered only in May 2023, ViseFX can’t possibly have a long operational history. The number of reviews online is also scanty. Moreover, the legal entity, Pibex Ltd, was also registered in May 2023.
The broker doesn’t mention any licenses, suggesting that the firm might not be regulated. However, ViseFX lists an office address in the UK, implying they should have a license from the FCA. However, if one tries to find this organization in the UK’s financial commission registry, it comes up empty. The conclusion is simple – the company operates without a license.
I also wanna open a brokerage account here, but the lack of a license concerns me. Maybe the broker is in the process of obtaining regulation? If so, that's cool, meaning trading can start soon. I've decided not to take the risk for now, as it's better to be safe than foolishly risk. Let them get a license, then I'll register an account here and start trading. But without a license, I'll stay away. Of course, it's possible that the company is reliable even now, but it's still a significant risk.
People, traders, investors!! BEWARE!!! VISEFX steals money. It's a dirty offshore brokerage trap for your funds. The firm operates illegally because, in reality, they are anonymous scammers. I made the mistake of investing my money here, which I now can't retrieve.
Well... no good broker... I wasted my money, but luckily I only invested 250 dollars, so it wasn't too painful to lose them... from a trading conditions perspective, I'll say that the conditions here are much worse than most other brokers... huge commissions, spreads, a poor terminal, a limited set of assets – all this won't let you trade comfortably and profitably... so I recommend finding another firm... and forget about this one...
Is it possible to trade with companies like ViseFX? I posed this question to a friend who decided to start trading forex but chose the wrong broker. Unfortunately, he opted for a fraudulent firm that lacks a license, falsely claims to have an office in the UK, and brazenly lies about security and some supposed guarantees.
The individual invested over $1.5k in ViseFX, thinking he'd be working with a safe intermediary. However, this broker turned out not to be as they described themselves on their website. The trading conditions were unfavorable, the trading platform was laggy, and the managers took a long time to respond. And when my friend wanted to retrieve his money, they stopped communicating altogether.
It's been two weeks now, and the money is still missing. Is this normal? Definitely not. The firm deceives him, is not responding, and doesn't want to refund the money. Is there any way to influence this situation to achieve a positive outcome?
I'm so sad :( Because these jerks and swindlers ripped me off!!! ViseFX stole my money!!! I can't withdraw my $750 deposit!!! Nothing is happening! I submitted a request, but I can't get my money out!!! The scammers aren't processing my request :(
Vise fx is an outright scam. Don't even think about investing money here because you'll lose it 100%. There's nothing worse than investing money in an offshore dump that first presents itself as a white and fluffy broker, but when it comes to withdrawing funds, it turns out that the trader was trading on a fake platform with "drawn" charts all this time.
Again, vise fx doesn't have a license. It's a scam, an illegal broker. Steer clear.
I can give an average rating. I've been actively trading here for several days. Everything seems fine, but something is missing. The managers are strange and sometimes inadequate. It's hard to call the trading conditions high-quality and beneficial. The legitimacy status is unclear. But overall, trading is possible.
However, I haven't checked the withdrawal of funds yet. Whether the withdrawal works or not, I don't know; it needs to be verified. I haven't managed to make a profit yet, but at least I'm breaking even. That's already a good result.
So, I don't know whether to recommend ViseFX or not. I can't praise it, but I also can't speak super negatively about it.
How many downsides can you count? Here's how many I found with ViseFX. First, a short operating period, as the company was officially registered only in 2023. Second, registration in an offshore jurisdiction. Third, a fake address in the UK. Such an organization isn't even listed in Companies House. Fourth, they're operating illegally because there's no activity license, and there should be one. Fifth, it's a hidden firm. Why hidden? Because many conditions are unknown, and legal documents are missing. Sixth, it's a 100% b-book broker, meaning the scammers will work against you. They will force you to lose, so you can forget about profit.
If you've chosen ViseFX, then it's a bad choice. I know several people who lost anywhere from $500 to $7,000 here. The scheme is always the same. The scammers are initially sweet and friendly, but that's until you deposit funds. Once you've made a deposit, that's the end of your money. The scammers go underground, and they start ignoring you. You try to do something, maybe trade, but it's all pointless. Because withdrawing funds from ViseFX will be impossible. Everyone who has encountered this fraudulent platform has lost money because they can't get it back. If you don't want the same outcome, look for a safer and more reputable company. There's nothing to do here because it's a scam.
It's unlikely that this is a legitimate broker. Why? Well, because visefx hasn't even obtained any license. Meanwhile, these fraudsters claim to have 10 million traders. That's complete nonsense. How can a firm with such a vast number of traders operate without a license? It's impossible. Let these scammers tell their tales to someone else.
Moreover, having an office in the UK suggests that the organization should be regulated by the FCA, but they aren't. You can check the FCA registry; this broker isn't listed there. Also, Google when their website, visefx.com, was registered. You'll be surprised, but it happened this year. How could they accumulate 10 million traders in just a few months? They couldn't. It's fake.
Where did the positive reviews about ViseFX come from? I don't understand because this is a project of scammers and swindlers. It's not even a broker; it's a fraudulent site with a fake platform where people are deceived for money. Deposits work, but it's impossible to withdraw funds.