According to the company’s presentation, this firm is registered in the UK with the number 06598526. The problem starts when you realize that the mentioned company was incorporated in 2008 and is registered for software development.
In addition, we discovered that this broker regularly changes its domains, trying to mislead traders. Before it was exposed, the brand was using virtualwealthexchange.net domain. Currently, it’s virtualwealthexchange.co. All in all, this Virtual Wealth Exchange review reveals all their dirty tricks.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings From: | OSC, CSA, IOSCO, CONSOB |
| Registered In: | UK (allegedly) |
| Operating Since: | 2023 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | N/A |
| Minimum Deposit: | $250 |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptos, forex, indices, shares, commodities, NFTs |
| Free Demo Account: | Not available |
| How To Withdraw From This Company? | After multiple warnings against this company, it’s clear traders can’t expect to get their profits out. Therefore, we suggest you contact our refund team and start the recovery process already today. |
Legal Info: Is Virtual Wealth Exchange Legit Or A Scam?
When it comes to regulation, this brokerage claims to be operated by offshore company Lead Capital Global Ltd, which is authorized by FSC Mauritius. Indeed, such a firm exists. The problem is that both company’s domains were registered in 2023/2024, while this firm in Mauritius was registered in 2020. Things simply don’t add up. Not to mention, the company doesn’t reveal any legal documents that would prove their connection.
Anyway, the proof you can’t trust this broker can be found in numerous warnings, starting with ones issued by Italian CONSOB, Canadian CSA, and OSC, but also Spanish IOSCO. Now, if the company offers you some protection, you know it’s all a lie.
Who Are Virtual Wealth Exchange’s Victims?
Speaking of scam brokers, we also recommend you check our Dav Invest and Tradereview reviews. One thing all swindlers have in common is similar targeting countries. Mostly, those are highly regulated countries with a high percentage of wealthy people. That’s why this broker mainly targets:
- United Kingdom
- Canada
- Australia
- Finland
In case you are one of the victims, keep in mind you can contact us for refund advice. Don’t let the swindlers get away with your money.
Traders Reviews
If you still don’t realize they are scamming you, check the Virtual Wealth Exchange reviews on the Reviews.io platform. Some frustrated victims say they searched the map and didn’t find the address of this brokerage, which shows how bad the company’s lies are.
All in all, many traders reported withdrawal issues and that’s why all those warnings started piling up. Luckily, our team offers chargeback consultations free of charge. Book yours right away.
Leverage, Commissions, Spreads, Fees and Taxes
Another problem with Virtual Wealth Exchange broker is a lack of transparency in trading conditions. We all know trading costs can make a big difference. Therefore, having spreads, fees, and commissions transparently presented is the key to choosing a broker. Sadly, this one doesn’t reveal any. Neither do they mention what leverage they offer, which makes everything even more suspicious.
Bonuses
To be fair, there’s no proof the company offers any bonuses. However, without transparent T&Cs, you can’t even check if there’s a possibility for it. But if the Virtual Wealth Exchange trading firm offers you some bonuses, make sure not to accept them.
Virtual Wealth Exchange Trading Features
The only thing that might attract traders is the NFT’s availability. Unfortunately, that’s the only advanced option with this firm. If you want to use advanced strategies, AIs, Expert Advisors, or anything else, look elsewhere.
Trading Platforms Available
Another problem here is that Virtual Wealth Exchange Forex company offers only a web-based platform. Fairly, it wouldn’t be a problem if it was MetaTrader WebTrader.
Instead, it’s a proprietary one with TradingView charting support. The key problem with such a platform is that manipulation happens behind the scenes. That’s why third-party apps are a necessity in the trading world.
Available Trading Assets
The company’s instruments offer looks quite solid. However, without adequate licenses, you can’t trust any of it. Especially not the Virtual Wealth Exchange crypto and NFT offers.
Anyway, all options available are:
- Forex – USD/EUR, AUD/HKD
- Indices – DAX30, FTSE100
- Commodities – natural gas, crude oil
- Shares – Amazon, Boeing
- Cryptos – ETH, BNB
- NFTs
Account Types
Generally, the minimum requirement for activating a Bronze account appears to be €10,000. However, the company’s FAQ reveals they will also accept $250 for onboarding.
The problem is that all accounts offer the same features, yet all have higher deposit requirements. Anyway, you’ll be required to deposit for different accounts the following amounts:
- Bronze – €10,000
- Platinum – €100,000
- Diamond – €250,000
- Premium – €500,000
- VIP – €1,000,000
Mobile Trading App
With a web-based platform, we can forget about mobile trading. Very rarely with scam brokers, you can get an optimized platform truly worth investing in. That’s why we always recommend choosing top-tier brokers with far better options.
Demo Account
To keep the trading conditions hidden, the company decided not to offer a demo account. They do not allow you to register with them without a promo code.
So, if you want to test them out, you’ll have to risk a lot. But if you already know that Virtual Wealth Exchange withdrawal is not possible, there’s no reason to do so.
Education
As can be seen from the account-type presentation, the company truly cares about education. They offer webinars, VODs, e-books, and much more. But the problem is that without a license, all that is worthless.
Virtual Wealth Exchange Withdrawal
Another issue with this brokerage is the non-transparent withdrawal procedure. Since they highly promote cryptos, don’t be surprised if that’s the only payment option available. Another problem is that the company doesn’t reveal any withdrawal fees or processing time.
So, they can require you to pay some non-existent ones. Whether you do so or not, your Virtual Wealth Exchange login credentials won’t work anymore.
Customer Support
If you haven’t realized so far why you should not open the Virtual Wealth Exchange account, just check their support options. Literally, there are none. Basically, you can only write a ticked and hope they will respond. Surely, not something that you can see with any top-tier regulated firm.
Key Information To Consider About Virtual Wealth Exchange
If you know where to look for information, you should be safe from these swindlers. As can be seen, the company has been operating with fake legal and regulatory details, and that’s why warnings have been issued. Not to mention hidden conditions, fake platforms, and all other manipulative details.
If, somehow, they got you tricked, reach out as soon as possible for refund advice. But don’t worry, the first meeting with our experts is completely free. We understand the frustration. Keep in mind that a recovery option might be available. But you won’t know unless you share your experience. Therefore, send us a message right away.
FAQ Section
What is a Virtual Wealth Exchange?
Virtual Wealth Exchange is a company allegedly based in the UK with licenses of FSC Mauritius.
Is Virtual Wealth Exchange Legit?
No. The addresses in the UK are fake, the license they present us with belongs to another entity and there are multiple warnings against this scam broker.
Can I Withdraw Profits From My Virtual Wealth Exchange Account?
Regularly, no. The only thing you can do is apply for a refund immediately. For advice about all the necessary steps, feel free to contact our refund team.
Source:
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