Venus4T Review – Using Fake Reviews To Boost Reputation

Venus4T’s website has several broken links, which were supposed to give us insight into key information such as the regulatory license and fees. Moreover, the trader reviews we found seem suspicious, i.e. dishonest.

And on top of all that, we found a regulatory warning issued against this platform. All these red flags call for an investigation. Please read our Venus4T Review to learn why this broker is a terrible choice for trading and how to detect and avoid unscrupulous trading schemes such as this one or Lewcoin.

Legal Info: Are There Any Venus4T warnings?

Venus4T claims to be headquartered in Switzerland but there is no data about this trading brand anywhere on the internet besides the broker’s website. As mentioned, the link to the alleged regulatory license was broken.

Nevertheless, we did some more research and found a warning issued against this platform by the Canadian Autorité des Marchés Financiers (AMF). It was published on October 19, 2023, stressing that Venus4T “is not authorized to solicit investors in Québec.”

Unregulated brokers are extremely risky and dangerous since they aren’t liable to compensate clients regardless of the scenario. Thus, do not ignore the financial watchdog’s warning. 

Instead of trusting unlicensed providers, you should stick to regulated brokers operating under the supervision of a reputable financial authority such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), CySEC (Cyprus), etc.

Who Are Venus4T’s Targets?

According to godaddy.com/whois, the venus4t.com website domain was created on August 7, 2023. Since then, the financial swindler has been targeting mainly unsuspecting traders who reside in the following countries:

• Netherlands;
• Canada;
• Lithuania.

All these countries are heavily regulated in terms of the financial market. Two are European, meaning they implement and enforce common laws and regulations of the European Securities and Markets Authority (ESMA).

One law stipulates that the maximum leverage for retail clients cannot exceed 1:30. Venus4T offers up to 1:50, which is legal in Canada but to reiterate, the AMF flagged this platform as an unauthorized entity.

Trader Reviews – Sharing Experiences

We were a bit surprised to see many positive reviews of this platform on trustedrevie.ws. At the time of this writing, the broker had 30 reviews and an average score of 4.4/5 on that forum. Whether these reviews are honest is questionable. 

The earliest reviews started appearing in early August, about the time when the website was created, which is odd. How is it possible that traders managed to achieve satisfactory results so quickly? Keep in mind that these reviews may have been incentivized.  

Some complaints can be found on scamadviser.com, explaining in detail how the shady scheme works. “I was totally despondent when this company swindled me of my hard-earned money. Appearances can be misleading sometimes,” one unfortunate victim stated. In short, if you deposit money into this platform, you won’t be able to withdraw it. 

Please avoid trading on unregulated platforms such as Venus4T or LEIWOW FX and instead stick to transparent brokerage firms with safe trading conditions.     

Which Trading Platform Is Available?

Venus4T offers an oversimplified web trading platform that supports popular trading assets such as indices, stocks, commodities, and cryptocurrencies. Forex trading is not available. 

We were unable to check out the platform because there was no demo account option. In general, rudimental browser-based platforms can easily be rigged to create an illusion of trading profits.

For that reason, if you want a true trading experience, you should stick to licensed providers that support recognized third-party trading software such as MetaTrader 4, MetaTrader 5, or cTrader. 

Available Live Account Types

Leverage, Spreads, Commissions, Demo Account

The maximum leverage that Venus4T offers ranges from 1:10 to 1:50. If the firm were indeed a legal Swiss provider, it wouldn’t be able to offer leverage north of 1:30. High leverage can amplify potential profits, but it also significantly increases the risk of potential losses, hence the regulatory limits.

As for the spreads, the broker’s website claims that users can trade with ultra-tight spreads, starting from 0.0 pips. Again, we weren’t able to confirm this without access to the platform. Commissions were not disclosed.

The absence of a risk-free demo account is a major red flag. If you are a beginner, you should not be risking real money straight away. Every legitimate brokerage firm nowadays offers a demo account so be sure to choose the right provider. 

Deposit and Withdrawal Process

Venus4T states that there are three available payment methods that can be used to fund live trading accounts:

• Credit/debit cards;
• Wire transfers;
• E-wallets.

The minimum deposit requirement is 250 USD but the deposit & withdrawal fees, as well as the payment processing time, were not disclosed. Regardless, it’s unlikely that you’ll be able to withdraw funds from this platform so please consider a chargeback. 

In case you deposited funds via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days and reverse the transaction. Wire transfers can be reversed via a recall but this action can only work for transactions yet to be completed.

Key Facts To Consider About Venus4T

To sum up, Venus4T is a phony online trading platform with no valid license. The cyber trickster mainly targets traders from the Netherlands, Lithuania, and Canada.

We do not recommend this platform because it is unregulated and blacklisted by the Canadian AMF regulator. In case you are a victim of the Venus4T scam, you must seek our professional help to recover your money!

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the chargeback process and assist you every step of the way.

Book your consultation with us today and start the chargeback process.

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