One of the first problems you will notice with this brokerage is a lack of legal transparency, especially about registration details. Yes, they present us with a UK address, but can they back it up with documents? Certainly not.
That’s one of the main causes not to trust this trading firm. But if you keep reading this Vortexyl review, you will find many more tips on what warning signs to watch out for.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | Vortexyl.com |
| Have Warnings from: | CONSOB, FSMA |
| Registered in: | UK (allegedly) |
| Operating since: | 2023 |
| Trading Platforms: | Proprietary web-based platform |
| Maximum Leverage: | N/A |
| Minimum Deposit: | €10.000 |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies, forex, indices, commodities, stocks |
| Free Demo Account: | Not available |
| How to Withdraw from This Company? | Withdrawing funds from an unregulated broker allegedly registered in the UK is usually impossible. However, you have a refund always as an option. To find out how to recover your money, get in touch with our refund experts right away. |
Legal info: Is Vortexyl Legit or A Scam?
To be fair, we are glad the company presents itself as UK-based. This way, they make everyone’s research way easier. You just have to check for their license in the FCA database, and voila. The conclusion is there. But of course, the company will try to go around regulations.
Firstly, they might present themselves as a company working according to regulations. That’s definitely not worth a dime without adequate licenses. Secondly, they might tell you they are in the process of getting it. But most importantly, if they don’t have any, you shouldn’t trust them a bit. If they get it anytime soon, you are free to sign up.
In any case, with warnings from Italian CONSOB and Belgian FSMA, it’s clear this firm is an absolute scam. Honestly, it’s logical since the company doesn’t have any top-tier licenses like FCA, BaFin, ASIC, or similar.
Who are Vortexyl’s Victims?
Since 2023, when this trading brand was founded, they have been targeting everyone. Without any jurisdictional restrictions, anyone could be their target.
However, Vortexyl reviews and traffic analysis show us they were mainly scamming traders from:
- United States
- Brazil
- France
- United Kingdom
- Mexico
If you are still not a victim of this firm, we suggest you check important advice from our Lenz Capital and Chronovalor reviews. However, if you are a victim of this scam broker, contact us right away for refund assistance.
Traders Reviews
There’s a huge discrepancy between reviews about Vortexyl broker on Trustpilot and Sitejabber. While on Trustpilot you have more than 50% of negative comments, on Sitejabber there are only 2%. Fairly, something doesn’t add up there. Possibly, it’s a coincidence, but we highly doubt it.
Anyway, without adequate licenses and multiple warnings, we will trust those 50% of negative comments. With mainly withdrawal issues reported, we believe it’s time for you to start with the refund process. For a free consultation, get in touch with our team.
Leverage, Commissions, Spreads, Fees and Taxes
When a broker hides trading conditions, that’s a clear sign you can expect only problems. With hidden commissions, spreads, and fees, their expenses might cost you more than you deposited.
Not to mention mysterious leverage that can easily get you into debt. All in all, that’s why traders opt for regulated brokers, because of transparency.
Bonuses
With quite poor T&Cs, you can’t find even basic policies and terms. Not to mention potentially scamming bonus tricks. But if you get bonus offers, we kindly advise you to avoid them.
Vortexyl Trading Features
The only feature worth mentioning with Vortexyl trading firm is social trading. However, when you get access to their platform, you won’t find it that convenient. Anyway, most of the options available with proven scam brokers are completely fictive.
Trading Platforms Available
One of the key issues you will realize in your Vortexyl account is related to platform manipulation. With only a web-based proprietary platform available, it’s hardly believable the market data is legit.
With possible slippages, unexpected market crashes, and also fake profits, traders can easily get lured to deposit more money. Simply, if you choose a licensed firm with MetaTrader or cTrader, you can avoid it all.
Available Trading Assets
Once you complete the Vortexyl login procedure, you will realize they don’t offer anything extraordinary. Fairly, all assets available with them could be traded with top-tier licensed firms. For example:
- Forex pairs – USD/AUD, EUR/SEK
- Commodities – gold, natural gas
- Shares – IBM, Netflix
- Indices – ASX200, CAC40
- Cryptos – TRX, XRM
Account Types
Generally, to see is Vortexyl legit, you just have to check their account types. Firstly, it appears they require at least €10,000 to get started. But in reality, it’s most likely something around €250, similar to other scam firms. Secondly, the company doesn’t offer practically any significant benefits for higher deposit, which is quite concerning.
All in all, the options are:
- Bronze – €10,000
- Silver – €25,000
- Gold – €50,000
- Platinum – €100,000
- Diamond – €250,000
- Premium – €500,000
- VIP – €1,000,000
Mobile Trading App
Usually, when a company offers a manipulative platform, you will rarely see trusted apps in the offer. That’s exactly the case with this trading firm. So, if you are a mobile trader, we suggest you to stick to licensed firms using trusted trading platforms.
Demo Account
Another huge disadvantage of this trading firm is a lack of demo account options. However, if that was in the offer, anyone could expose all of their flaws. You’d see things such as high leverage, high commissions, spreads, and huge price gaps.
Education
Allegedly, this firm has quite a rich educational program. Starting with webinars, e-books, VODs, personalized assistants, etc. Yet, it’s a huge problem it all comes from a scam broker.
Vortexyl Withdrawal
With quite a poor Vortexyl withdrawal procedure explanation, the company can easily make excuses not to approve it. In any case, they promote internal transfers, card transfers, bank wire transfers, and crypto.
However, will any of these work? We highly doubt. Especilaly without transparent fees and processing time. But even if those details are revealed, can you trust them without an adequate license?
Customer Support
As can be seen, the company provides traders with two phone lines with UK extensions. But with hidden legal details, it’s less likely probable they are truly based there.
Anyway, without transparent working hours and other options besides mail and web form, you can hardly expect true assistance from them.
Key Information To Consider About Vortexyl
Vortexyl scam broker has numerous flaws. But the key thing you have to watch out for is high leverage, which they hide, their fake platform, and lack of regulations. Also, don’t forget multiple warnings that won’t be always there to protect you.
All in all, too many reasons not to trust this firm. Yet, we all know how it is when you need money. So, if you trust this firm with your hard-earned money, get in touch with us for refund assistance. After all, the first meeting is completely free. Book yours already today.
FAQ Section
What is Vortexyl?
Vortexyl is an allegedly UK-based trading company offering a wide range of trading services and yet without any credibility.
Is Vortexyl Legit?
Not at all. Besides numerous complaints, there are warnings from regulators like CONSOB and FSMA. Therefore, we suggest you contact us for refund advice immediately.
Where is Vortexyl Located?
Apparently, in the United Kingdom. However, not a single database can prove their registration there.
Source:
https%3A%2F%2Fscambrokersreviews.com%2Fcrypto-scams%2Fvortexyl-review%2F
