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Swiss Financial Market Supervisory Authority has issued a warning against Virgobanc in August 2023
If you are looking for a reliable and trustworthy online broker, you might have come across Virgobanc. Virgobanc is a relatively new broker that claims to offer a variety of trading instruments, such as forex, stocks, commodities, indices, and cryptocurrencies. But is Virgobanc a scam or a legit broker? In this review, we will examine the features, pros, and cons of Virgobanc and help you decide if it is worth your time and money.
What is Virgobanc?
Virgobanc is an online broker that was founded in 2020 and is based in St. Vincent and the Grenadines. According to its website, Virgobanc is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines and operates under the company name of Virgo Banc Ltd. Virgobanc claims to provide a secure and transparent trading environment for its clients, with access to over 200 trading assets, competitive spreads, fast execution, and various account types.
What are the features of Virgobanc?
- A user-friendly web-based trading platform that is compatible with any device and browser.
- A range of account types to suit different trading styles and preferences, from basic to VIP.
- A minimum deposit of $250 to open an account and start trading.
- A leverage of up to 1:400 for forex trading and up to 1:100 for other assets.
- A variety of payment methods, including credit cards, debit cards, wire transfer, Skrill, Neteller, and Bitcoin.
- A dedicated customer support team that is available 24/5 via phone, email, or live chat.
- A comprehensive education center that offers webinars, ebooks, videos, articles, and tutorials on various trading topics.
- A free demo account that allows you to practice your trading skills without risking real money.
What are the pros and cons of Virgobanc?
- A wide range of trading instruments to choose from.
- A user-friendly and intuitive trading platform that is easy to use and navigate.
- A low minimum deposit requirement that makes it accessible to beginners and small traders.
- A high leverage ratio that can amplify your profits (but also your losses).
- A variety of payment methods that are convenient and secure.
- A responsive and helpful customer support team that can assist you with any issues or queries.
- A rich education center that can help you improve your trading knowledge and skills.
- A lack of regulation by a reputable authority that can ensure the safety and fairness of your funds and transactions.
- A lack of transparency about the company’s background, ownership, and legal status.
- A lack of client reviews or feedback that can attest to the quality and reliability of the broker’s services.
- A high withdrawal fee of $50 that can reduce your profits.
- A limited choice of trading platforms that does not include the popular MetaTrader 4 or MetaTrader 5.
Is Virgobanc a scam or a legit broker?
Based on our research and analysis, we cannot conclusively say that Virgobanc is a scam or a legit broker. On one hand, Virgobanc has some attractive features and benefits that can appeal to many traders. On the other hand, Virgobanc has some red flags and drawbacks that can raise some doubts and concerns about its credibility and trustworthiness. Therefore, we advise you to exercise caution and due diligence before investing your money with Virgobanc. You should also compare Virgobanc with other reputable and regulated brokers in the market and see which one suits your needs and expectations better.
What to Do If You’ve Lost Money with Virgobanc?
If you have been scammed by Virgobanc or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.