Do You Want to Know If Varot Financial Is a Legitimate or Scam Broker?
Varot Financial is supposedly based in Hong Kong, but it has received a warning from the Hong Kong Securities and Futures Commission (SFC) that it is falsely claiming to have licenses and is not providing legal and reliable services to customers. Ending up on a regulator’s blacklist is enough of a reason to stay away from a broker like Varot Financial. In addition, it requires a high minimum, $1000 to open an account when the usual minimum for a brokerage account is close to $100.
There Are Some Problems with Varot Financial
Being blacklisted by a regulator is a big deal, and is the result of many customer complaints and investigations. Setting the minimum so high, without proving that it has earned the reputation as a premium broker, is also problematic, because it is a tactic used by people who want to keep customer deposits.
Red Flags that Varot Financial Could Be a Scam Broker
- No license
- Blacklisted by the SFC
- High minimum
- Negative reviews
If You Need Fund Recovery from Varot Financial, Talk to Us
We create these reviews to warn consumers about brokers that may be fraudulent. If you have an account with Varot Financial close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.
