Veracity -Some important Details about This Broker

What is Veracity？

Veracity Financial Services is a relatively new financial services company in India that specializes in trading in currency derivatives and equity markets. It positions itself as a technologically advanced and growth-focused company.

However, Veracity Financial Services does not have valid regulation in place. Additionally, there have been reports of slippage associated with Veracity.

If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.

Pros & Cons

Pros:

- Veracity offers a range of trading instruments covering equity, commodity and currency, providing traders with multiple options to diversify their investment portfolio.

- The company maintains a social media presence such as Facebook, YouTube and Twitter, which can be beneficial for staying updated on market trends and company news.

Cons:

- Veracity is not regulated, which raises concerns regarding the company's adherence to industry standards and the safety of customer funds.

- The funding options available on their platform are limited, which restrict the convenience and flexibility of depositing and withdrawing funds.

- The lack of industry experience (2-5 years) suggests that Veracity can not have a well-established track record or the necessary expertise to navigate the complexities of the financial markets.

- The limited transaction information such as platforms and minimum deposits provided on their website can make it challenging for traders to evaluate their trading activities and track their performance accurately.

- Reports of slippage indicate potential issues with trade execution and the platform's reliability, which can lead to unfavorable trading outcomes and financial losses.

Is Veracity Safe or Scam？

Given that Veracity Financial Services currently operates without valid regulation and there have been reports of slippage, it is important to exercise caution when considering its safety and legitimacy. The lack of regulation raises concerns about the company's compliance with industry standards and the protection of customer funds. Reports of slippage could indicate potential issues with trade execution and the platform's reliability.

These factors suggest that there may be risks associated with trading on Veracity's platform. It is advisable to carefully evaluate these risks and consider alternative regulated platforms that offer more robust regulatory oversight for the safety of your investments.

Market Instruments

Veracity offers a wide range of trading instruments across various financial markets.

-Equity:

Veracity provides trading opportunities in the equity market through two segments - cash segment and derivatives segment. The cash segment allows traders to buy and sell shares of publicly traded companies listed on stock exchanges. The derivative segment allows traders to trade in futures and options contracts of the underlying stocks.

- Commodity:

Veracity offers trading opportunities in different commodity categories such as agriculture products like grains, oilseeds, and pulses; bullion & metals like gold, silver, copper, and nickel; energy products like crude oil and natural gas; and non-agro products like a base metal, industrial metal, and chemicals. Veracity provides traders with access to the most popular commodity exchanges such as MCX in India, allowing traders to buy and sell commodity futures and options contracts.

- Currency: Veracity offers traders a chance to trade in currency derivatives, allowing them to trade in USD/INR, EUR/INR, GBP/INR and JPY/INR. Currency derivatives allow traders to hedge against currency risk and take advantage of fluctuations in exchange rates. Veracity also offers SME/Corporate currency trading, wherein small businesses and corporations can trade in foreign currency and manage their currency risk.

Deposits & Withdrawals

Veracity offers convenient methods for depositing and withdrawing funds from your trading account. The two primary methods available are through cheque and online transfer.

Cheque:

Veracity allows you to deposit funds into your trading account by writing a cheque. You can issue a cheque from your bank account and send it to Veracity's designated address.

Online Transfer:

Veracity also supports online transfer as a convenient way to deposit and withdraw funds. Depending on your bank's capabilities, you can transfer funds electronically from your bank account directly to your trading account with Veracity.

User Exposure on WikiFX

We advise traders to thoroughly examine the available information and assess the risks involved before engaging in trading activities on an unregulated platform. Our website provides a report highlighting instances of significant slippage that traders should take into consideration. Prior to making any trades, it is recommended to consult our platform for relevant information. If you have encountered fraudulent brokers or have personally fallen victim to such practices, kindly inform us through the Exposure section. We greatly appreciate your cooperation, and our team of experts will make every effort to address and resolve the issue for you.

Customer Service

Customers can visit their office or get in touch with customer service line using the information provided below:

Telephone:079 68171800

Fax: 079 68171801

Email: support@veracityfs.co.in

Address: 301 Ashirwad Paras, Corporate Road, Prahaladnagar, Ahmedabad- 380015, Gujarat - India

Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, and YouTube.

Conclusion

In conclusion, Veracity Financial Services offers trading in currency derivatives and equity markets in India. Its major products and services include a wide range of trading instruments and customer service.

However, it is important to note that Veracity currently has no valid regulation in place, which can raise concerns about the safety and reliability of its services. In addition, there have been reports of slippage associated with Veracity which could impact profitability. Therefore, individuals should carefully evaluate the risks before engaging in trading activities with Veracity Financial Services, and consider regulated alternatives for trading in the Indian financial markets.

Frequently Asked Questions (FAQs)

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.