Fvptrade.com Review
Beware Investors fvptrade.com – This entity is likely to be offering financial services to consumers. It does not hold any financial services license or credit license and is not authorized by a licensee. Providers of financial services must be licensed by local securities and commissions.
Who is FVP Trade:
FVP Trade is a website that claims to be a global leader in online trading, offering access to forex, stocks, commodities, indices, and cryptocurrencies. It also claims to have offices in Australia, the UK, Cyprus, and Hong Kong. However, there is no evidence that FVP Trade is licensed or regulated by any of these jurisdictions. In fact, ASIC has issued a warning against FVP Trade, stating that it may be involved in a scam and advising investors not to deal with it.
Regulation:
FVP Trade is not regulated by ASIC or any other reputable financial authority. This means that it does not comply with the rules and standards that protect investors from fraud, manipulation, and abuse. It also means that it does not have any legal obligation to provide fair and transparent services, to segregate client funds, or to compensate clients in case of insolvency or misconduct. If you trade with FVP Trade, you are putting your money at risk and you have no recourse if something goes wrong.
Location:
FVP Trade claims to have offices in various countries, but these are likely to be fake or misleading. For example, its Australian address is a virtual office that does not belong to FVP Trade. Its UK address is a residential building that has no connection to FVP Trade. Its Cyprus address is a shared office space that hosts multiple companies. Its Hong Kong address is a serviced office that does not verify its tenants. These are common tactics used by scam brokers to create a false sense of legitimacy and credibility.
Services:
FVP Trade offers a range of trading products and services, such as forex, stocks, commodities, indices, and cryptocurrencies. However, these are likely to be unreliable or fraudulent. For example, FVP Trade may manipulate the prices and spreads of the assets it offers, making it impossible for traders to profit or withdraw their funds. FVP Trade may also use high-pressure sales tactics, such as cold calls, emails, or pop-ups, to lure unsuspecting investors into depositing more money or signing up for bonuses or promotions that have hidden terms and conditions.
Reviews:
FVP Trade has received many negative reviews and complaints from its clients and independent reviewers. Many of these reviews accuse FVP Trade of being a scam, of refusing to process withdrawals, of closing accounts without explanation, of providing poor customer service, of charging hidden fees, of falsifying documents, and of harassing clients with phone calls and messages. Some of these reviews also warn potential investors to stay away from FVP Trade and to report it to the authorities.
Customer Service:
FVP Trade claims to provide 24/7 customer support via phone, email, live chat, and social media. However, this is likely to be ineffective or unresponsive. Many clients have reported that FVP Trade’s customer service is rude, unprofessional, or nonexistent. They have also reported that FVP Trade’s representatives are aggressive, dishonest, or unhelpful. Some clients have even claimed that FVP Trade’s customer service has blocked them or ignored them after they requested a withdrawal or filed a complaint.
Why Check Company Credentials:
It is important to check the credentials of any company you are considering trading with before you invest your money. This can help you avoid falling victim to scams and frauds that can cause you significant financial losses and emotional distress. You can check the credentials of a company by verifying its license and regulation status with the relevant authorities in its jurisdiction. You can also check its reputation and feedback from other clients and reviewers on various online platforms and forums.
Securing Your Investments: Shielding Against Unscrupulous Brokers
One way to secure your investments and shield yourself against unscrupulous brokers is to trade only with licensed and regulated brokers that have a good reputation and track record in the industry. These brokers are subject to strict rules and standards that ensure fair and transparent services, client protection, and dispute resolution. They also have secure payment methods, segregated client funds, and compensation schemes in case of insolvency or misconduct. You can find a list of licensed and regulated brokers on ASIC’s website or other reputable websites.
Conclusion:
FVP Trade is an online trading platform that has been flagged by ASIC as a potential scam. It is not licensed or regulated by any reputable financial authority and it has received many negative reviews and complaints from its clients. It also uses deceptive and misleading tactics to attract and retain investors, such as fake or unverified addresses, manipulated prices and spreads, high-pressure sales tactics, hidden fees and terms, and poor customer service. If you are looking for a reliable and trustworthy broker, you should avoid FVP Trade and trade only with licensed and regulated brokers that have a good reputation and track record in the industry.
