VeronicaFX is an unlicensed broker that is operating illegally. The company is also anonymous and does not reveal any information on its founders. Invest with the best forex trading brokers in the market who have proved credibility over the years and have shown to be reliable.
There are far too many companies providing forex brokerage services. VeronicaFX is a company founded in the year 2015. This is a company that promises to be the best forex broker in the market. They also provide a safe trading environment and guidance for their clients.
It operates in Australia. They claim to be a company regulated by the FSA in the United Kingdom. They even give the registration number 12852586. VeronicaFx promises its clients a smooth and safe trading environment. However, this is not the case. Before you invest with a forex company, it is advisable to do enough research to avoid scammers.
Thankfully, there are many legitimate forex brokers in the market. They offer a safe trading environment with full transparency. These companies have been in the market for a long time, and have a solid track record.
So who is VeronicaFx? Let’s find out.
As earlier indicated, VeroicaFx is a company that deals with forex brokerage. Additionally, they allow the trading of other assets. These include equity, indices, energies, and precious metals. This creates room for all sorts of investors on the platform. Additionally, it allows traders to spread their risk across several assets.
However, this may not be exciting news. Having all these trading options with no safe trading environment is useless. The conditions that VeronicaFX provides are not ideal for making any returns.
Veronicafx.com does not seem to have professionals behind it. The website has several links that do not work. You press on a Facebook icon, and you realize it is just for aesthetics. Further, there is a phone button that does not do anything. This shows the unprofessionalism of the team.
Additionally, they provide a live chat. However, as suspected, the live chat does not work. Clicking on it only opens up a contact form to fill. Another red flag and pure unprofessionalism. The company is only using this as a tool to market itself.
VeronicaFx does have an email address for client support. You can reach them via the email [email protected] However, this is not a guarantee that they will respond to customer emails. Customer support is an essential service that every company should provide reliably. Therefore, we can conclude these are not professionals committed to customer satisfaction.
VeronicaFx offers four main account types. Let’s take a look at them briefly. The first one is the Standard account. This is for traders new to the forex market and those trading smaller volumes. This account allows investors to trade smaller trade sizes. It offers spreads from 1.6 pip. The minimum trade size is 0.01 lots with a commission of 0 dollars. The minimum deposit is $100 with flexible leverage. The average execution speed is 0.3 seconds, which is very fast and flexible. The stop and limit levels for the standard account are close to the market price.
The second account is the Professional account. As the name suggests, this is the account for the experienced traders. It includes spreads from 0.4 pips with a minimum trade size of 0.02 lots. The commission is $5 per $100,000. The leverage is flexible.
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The third account type is the Premier account. It has spread from 1.2 pips. The minimum trade size is 0.01 lots with a commission of 0 dollars. The leverage is flexible on this account type.
The Elite account is for the even more experienced traders. It offers spreads from 0.4 pips with a minimum trade size of 0.01 lot. The commission is $5.5 per $100,000. The minimum deposit is 5000 dollars.
These accounts support 65 plus currency pairs. Additionally, you can use the Islamic account. The items traded here are currencies, CFDs, precious metals, and cryptocurrencies. All these are very attractive options. But that’s what scammers do. They paint this amazing picture for you only to surprise you with a super scam. It is important to note that VeronicaFX provides higher leverages than the ASIC allows for brokers. Investors are warned. The leverage is very unrealistic, and illegal
VeronicaFx Founders and Physical Location
VeronicaFx does not give the names or contact details of its founders. We also do not know the members of the board. Not knowing the founders of a company is very risky. Nobody will want to invest with mysterious people on the internet. Only someone looking to lose their money would invest with VeronicaFx. The company gives its base of operations as Australia. However, they claim to have regulation from FSA in the United Kingdom. Therefore, this company does not have regulations in its base jurisdiction.
Regulation and Fund Safety.
Are your funds safe with VeronicaFx.? It is very important that you invest in a well-regulated company. Regulatory bodies ensure that companies run their operations legally. VeronicaFx claims to be a registered and regulated entity by the FSA in the United Kingdom.
This is absolutely incorrect. The FSA is no longer in operation in the UK. The government abolished this body back in 2013. That is before the company’s inception in 2015. Therefore, the company is lying to investors. They even provide a fake registration number.
We also have ASIC, which regulates Forex brokers in Australia. However, VeronicaFX does not have regulation from this body. Even worse, there was a warning issued against the company by the IESC. The IESC stated that the company was using a fake regulatory license number.
Therefore, this company cannot assure you of your funds’ safety. Regulatory bodies ensure that companies have the right banking set up to protect clients’ funds.
That’s not all. Veronicafx.com does not provide any evidence of systems’ protection. This means that hackers can easily access your money. Additionally, hackers can access the database and steal your personally identifiable data. You cannot trust such a company with your money.
VeronicaFx Domain Insight.
The official domain for this company is veronicafx.com. The company’s website did not state when the company was found. However, Whois records reveal the registration date for the domain as 2015.
Let’s take a look at the popularity of this company, according to Alexa. Their ranking in terms of traffic is extremely low. They rank 6,318,782. For a company that claims to be the best, we can conclude that they are just lying about their popularity.
Only invest in companies that have more traffic in the market. That means that the company has many people that trust it.
VeronicaFx is not a trustworthy company. First of all, they are not regulated by any regulatory body. They are not registered by any regulatory body. Secondly, we do not know the founders of the company. A company with nothing to hide will always reveal the name of its founders.
The customer support system is very unreliable. Most of the links take us nowhere. This is a basic service that every company should provide. Do not invest with VeronicaFX.
In the meantime, there are many legitimate forex brokers in the market. Such companies have been in the market for a long time, and have proven to be reliable. Additionally, they are fully transparent and very competitive.