Even at first glance at the company’s website, you can see too many irregularities. But most importantly, you see a lack of transparency. Luckily, this brokerage claims to be registered in the United Kingdom. Which makes everything a whole lot easier.
Just in a few clicks, you can get information on whether the company is a scam or not. But this honest VirtualPayout.com review will reveal much more.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | Virtualpayout.com |
| Have Warnings from: | N/A |
| Registered in: | UK (allegedly) |
| Operating since: | 2018 |
| Trading Platforms: | Web trader |
| Maximum Leverage: | 1:400 |
| Minimum Deposit: | $10.000 |
| Deposit Bonus: | Available |
| Trading Assets: | Cryptocurrencies, Forex, Commodities, Indices, Shares |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Considering too many warning signs, withdrawals might be harder than you think. If you experience any problem mentioned in this VirtualPayout.com Review, contact our refund specialists. |
Legal info: Is VirtualPayout.com legit or a scam?
All UK-registered brokerages must have an FCA license or TPR (Temporary Permission Regime). By searching for a VirtualPayout broker in the FCA register, we discovered nothing. Therefore, all their promises about segregated bank accounts for deposits become questionable.
We were hoping some other Tier 1 license, like BaFin, ASIC, or CFTC, would deny that. Sadly, the bitter truth is that this firm is an absolute scam.
Who are VirtualPayout.com clients?
This firm has been active since 2018, which is quite a long time for a broker firm. Surprisingly, they don’t have any warnings so far. But there will be considering numerous negative reviews. In any case, most of the victims come from:
- Australia
- Luxembourg
- United Kingdom
But what’s your experience with this firm? Leave a comment below or contact our chargeback specialists directly, and don’t waste a bit of time.
Traders’ Reviews
If you are not sure if this broker is a scam, Virtual Payout reviews will tell you. Sadly, there are only 9 comments on Trustpilot. Yet, none of these is positive.
As expected, all the problems start once you want to withdraw the funds. Make sure to check these, and if you were in the same situation, get in touch with our refund experts for advice.
Leverage, Commissions, Spreads, Fees and Taxes
One of the leading signs the company is not legit is its leverage. Keep in mind that all UK firms must offer a maximum of 1:30 to retail traders. However, once you complete the VirtualPayout.com login procedure, you will see insanely high leverage of up to 1:600.
Important to realize is that the company doesn’t share any details about fees or commissions. This is one of the key problems mentioned in VirtualPayout.com reviews.
Bonuses
With unregulated brokers, you will often see various bonus promotions. Yet, VirtaulPayout.com company claims to offer up to 100% loans. But those are bonuses whose policies are hidden in T&Cs. Therefore, if you don’t read it carefully, you might end up scammed. Like it won’t happen anyway.
Of course, for a withdrawal, you have to reach a certain trading volume. In this case, 25 times the bonus amount plus the deposit.
VirtualPayout.com Trading Features
One of the most disturbing features is that the brokerage offers fully managed accounts. That’s practically a recipe for a disaster. On top of that, they are lying about the fastest withdrawals in the industry and segregating bank accounts for deposits.
Trading Platforms Available
According to Virtual Payout, they are offering a user-friendly and simple-to-use platform. Since it’s a web-based one, you can expect exactly that. But this platform definitely won’t have any advanced features.
Additionally, this platform is easily manipulated through the back end. Keep that in mind when you see unreasonably high profits.
Available Trading Assets
Trading instruments with scam brokers are your last worry. Primarily because everything is fictive with this firm. In any case, you have the option to trade with:
- Currency pairs (Forex) – USD/HKD, AUD/NZD, EUR/HUF
- Commodities – gold, silver, palladium
- Shares – Amazon, Alibaba, AMD
- Indices – DAX 30, CAC 40, DowJones
- Cryptocurrencies – BTC, DOT, LTC
Account Types
As for the account types, you can see quite high minimum deposit requirements. In fact, only for a standard account do you have to put aside $10k.
As for the benefits with higher deposits, you practically have none. The broker only promotes some educational, support, and VIP features. But very often, these are just manipulation tricks over traders. Anyway, the options are:
- Standard – $10.000
- Silver – $50.000
- Gold – $100.000
- VIP – $250.000
- PRO – $1M
Mobile Trading App
If you are looking for a stable iOS or Android app with this broker, start looking elsewhere. With their web-based platform, you can only expect trouble while trading on a mobile. Luckily, our Oro Markets review can give you more details about the necessity of trusted mobile apps and third-party software.
Demo Account
Another key fact is that VirtualPayout.com company doesn’t offer a demo account. Neither do they offer a micro account. These things would be quite recommended for a broker that has that high minimum deposit requirement.
Education
In general, education doesn’t exist in this broker’s vocabulary. All they care about is money. To attract their traders to deposit more, they will offer you VIP webinars, in-depth research, and customized education. But that’s all irrelevant if the broker is not licensed.
VirtualPayout.com Withdrawal
We already agreed that a bonus policy can prevent you from withdrawing your funds. But there are other things as well. In the first place, the minimum withdrawal amount is $1.000 for wire transfers, while for card transfers, it’s $100.
Through the withdrawal policy, we discovered that their minimum deposit is actually $250. So, they won’t decline you as a client as long as you want to deposit some money. Allegedly, there are no withdrawal fees. Yet, they can introduce additional fees at any time.
Customer Support
According to the company, they are based in the UK. But that’s most likely a lie. With this in mind, their UK and Australian phone lines might be as well. Besides, you can contact them via e-mail and web contact form. But after some reviews, you shouldn’t raise much hope about it.
Key Information To Consider About VirtualPayout.com
As mentioned, the company is not licensed by any trusted authority. On top of that, they present themselves as the UK-broker, which adds to suspicion. Additionally, they are using very risky trading software with quite unclear conditions and fees.
If you experience any irregularities with this firm, don’t hesitate to contact us. Especially if they don’t allow you your withdrawal for some insane reasons.
FAQ Section
What is VirtualPayout.com?
VirtualPayout.com is a virtually anonymous company offering FX and CFD trading services since 2018 without any regulations.
Is Virtual Payout Legit?
Not at all. The company lacks necessary licensing and their trading conditions and features are quite risky.
What Can I Do If I Was Scammed While Trading Online?
Since the company is not regulated, complaints won’t get you your money back. Instead, you can apply for a refund with our specialist’s assistance. Book a free first meeting today!
