Score

1.46 /10
Danger

Vertex Forex

Hong Kong

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Add brokers

Comparison

Expose

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index6.62

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

More

Company Name

Vertex Forex

Company Abbreviation

Vertex Forex

Platform registered country and region

Hong Kong

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away!
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Vertex Forex · Company summary
Aspect Details
Registered Country/Area Hong Kong
Founded Year 2021
Company Name Vertex Forex
Regulation Unregulated Scam broker
Minimum Deposit Varied (Bronze: $1,000 - Platinum: $20,000)
Trading Platforms Web-Based (MT4/MT5 availability doubted)
Tradable Assets Forex, Commodities, Indices, Shares, Cryptos
Account Types Bronze, Silver, Gold, Platinum
Demo Account Not available
Islamic Account Not available
Customer Support Email (support@vtxforexs.com)
Payment Methods Wire transfers, card transfers, various e-payment options
Educational Tools Absent

Overview

Vertex Forex, operating from Hong Kong, has raised significant concerns in the trading community. Established in 2021, it operates as an unregulated and dubious broker, potentially posing risks to traders. The company, Vertex Forex, demands unusually high minimum deposits, ranging from $1,000 to an exorbitant $20,000 for its account tiers (Bronze to Platinum). Its web-based trading platform, touted as including MT4/MT5, falls short of expectations, raising doubts about the broker's credibility. Additionally, Vertex Forex offers no demo or Islamic accounts, limiting client options. The absence of educational resources on its now-down website further hampers traders' ability to make informed decisions. With doubts surrounding its regulatory status, potential investors should exercise extreme caution when considering Vertex Forex, as it may lack the necessary safeguards and transparency required in the financial industry.

basic-info

Regulation

Vertex Forex is an unregulated broker, which means it operates without oversight or regulation by any financial authority. This lack of regulation raises concerns about the safety and transparency of the brokerage's operations, as there is no guarantee that it adheres to industry standards or has the necessary safeguards in place to protect investors' funds. Traders should exercise extreme caution when dealing with unregulated brokers, as they may be more susceptible to fraudulent activities or unethical practices, and there may be limited recourse available in the event of disputes or financial losses. It is generally advisable to choose a regulated broker with a strong reputation to ensure a higher level of trust and security in the financial markets.

regulation

Pros and Cons

Pros Cons
  • Offers a variety of market instruments, including Forex, commodities, indices, shares, and cryptocurrencies.
  • Operates as an unregulated broker, raising concerns about safety and transparency.
  • Multiple account types with varying benefits.
  • Demands unusually high minimum deposits, potentially deterring many potential clients.
  • Availability of wire transfers, card transfers, and various e-payment options for deposits.
  • Lacks transparency regarding fees, spreads, and commissions, potentially risking client funds.
  • Offers trading on a web-based platform, although there are doubts about platform accuracy.
  • Absence of essential educational resources limits trader growth and informed decision-making.
  • Provides deposit and withdrawal options, but some traders report difficulties with withdrawals.
  • Customer support, evidenced by an email address, raises concerns about responsiveness and reliability.
  • No demo or Islamic accounts available, limiting client options.

Vertex Forex, operating without regulation from Hong Kong since 2021, presents a mixed picture for potential traders. While it offers a range of market instruments and account types, its unregulated status, exceptionally high minimum deposits, and lack of transparency regarding fees and spreads raise significant concerns. Traders may also encounter issues with withdrawals, and the absence of educational resources limits their ability to make informed decisions. Customer support, indicated by an email address, further raises doubts about responsiveness. Overall, potential investors should exercise extreme caution when considering Vertex Forex, given its potential risks and lack of necessary safeguards.

Market Instruments

products
  1. Forex (Foreign Exchange): Forex refers to the trading of currency pairs in the foreign exchange market. Traders speculate on the relative value of one currency against another. The most commonly traded currency pairs include EUR/USD (Euro/US Dollar), USD/JPY (US Dollar/Japanese Yen), and GBP/USD (British Pound/US Dollar).

  2. Commodities: Commodities are raw materials or primary agricultural products that can be bought and sold. There are two main categories of commodities: hard commodities (e.g., oil, gold, and metals) and soft commodities (e.g., agricultural products like wheat, corn, and coffee). Commodities are often traded on futures markets.

  3. Indices: Indices are a representation of the performance of a group of stocks or assets within a particular market or sector. They provide a way to gauge the overall health of an economy or industry by tracking the combined performance of multiple underlying assets. Examples include the S&P 500, Dow Jones Industrial Average, and NASDAQ Composite in the United States.

  4. Shares (Stocks): Shares, also known as stocks or equities, represent ownership in a publicly traded company. When you buy shares of a company, you become a shareholder and have a claim on a portion of the company's assets and earnings. Shares are typically traded on stock exchanges, and their prices can be influenced by various factors, including company performance and economic conditions.

  5. Cryptos (Cryptocurrencies): Cryptos are digital or virtual currencies that use cryptography for security. Bitcoin (BTC) and Ethereum (ETH) are well-known examples, but there are thousands of cryptocurrencies with various features and use cases. Cryptos are traded on cryptocurrency exchanges and have gained popularity for their potential for high volatility and investment opportunities.

Account Types

Vertex Forex offers four account types with unusually high minimum deposit requirements. These tiers include Bronze ($1,000 - $4,999), Silver ($5,000 - $10,000), Gold ($10,000 - $15,000), and Platinum ($15,000 - $20,000) accounts. While each tier promises varying benefits, the high entry thresholds may deter many potential clients, as they significantly exceed industry norms. Investors should exercise caution and research thoroughly before considering these accounts due to their exceptional minimum deposit requirements. Here's a summarized table:

Account Type Minimum Deposit Range
Bronze $1,000 - $4,999
Silver $5,000 - $10,000
Gold $10,000 - $15,000
Platinum $15,000 - $20,000

Leverage

leverage

The Vertex Forex does not provide specific information regarding the maximum trading leverage they offer in the provided review. Leverage is a critical aspect of trading and can significantly impact risk and potential returns. Typically, brokers offer different leverage levels depending on the type of asset being traded and the account type selected by the trader. Since the review does not specify the maximum trading leverage offered by Vertex Forex, it's essential for potential investors to reach out directly to the broker or consult their official website to obtain precise and up-to-date information regarding leverage options before considering any trading activities. Additionally, it's crucial to exercise caution when trading with high leverage, as it can magnify both profits and losses, increasing the risk associated with trading.

Spreads and Commissions

The website does not furnish any information regarding the fees and spreads offered by Vertex Forex. This lack of transparency raises concerns about the broker's intentions, as potential traders may be enticed to make an initial deposit without a clear understanding of the associated costs. It's crucial for individuals considering Vertex Forex to have access to comprehensive details about spreads and commissions, which often vary depending on the chosen trading account. Without this vital information, traders may be exposed to the risk of their funds disappearing without a trace. To make informed decisions, prospective clients should seek specific fee and spread information directly from Vertex Forex's official sources or customer support to ensure a more transparent and secure trading experience.

Deposit & Withdrawal

Deposit Options:

  • Vertex Forex provides several depositing methods, including:

    • Wire transfers

    • Card transfers

    • Various e-payment options

However, it's important to note that e-payment options may not be available for citizens of Australia (AU) and European Union (EU) countries.

Withdrawal Options:

  • Typically, Vertex Forex allows clients to use the same method they used for their initial deposit for withdrawals.

  • Traders should be aware that some have reported difficulties with the withdrawal process. These issues may be attributed to non-existent fees or other tactics employed by the broker to delay or prevent withdrawals.

To ensure a smooth and informed experience with Vertex Forex, potential clients should carefully review the broker's deposit and withdrawal policies, seeking clarity on terms and conditions. Conducting thorough research and understanding these procedures is advisable to avoid potential issues and delays when accessing your funds.

Trading Platforms

Vertex Forex offers various trading platforms, but there are concerns about their accuracy:

  1. Web-Based Platform: The broker primarily provides a web-based platform, which reportedly lacks advanced tools and features, deviating from their claims.

  2. Mobile Trading: Despite claims, dedicated mobile trading apps are missing, limiting traders to a web-based platform.

  3. MetaTrader 4&5: While they advertise MetaTrader 4 and 5, doubts exist regarding their actual availability.

  4. Automated Trading: DupliTrade is mentioned but faces skepticism due to overall credibility concerns.

  5. Mac Trading: For Mac users, only a web trader is available, missing the popular MT4 and MT5 platforms.

In summary, Vertex Forex's offered trading platforms don't align with their claims, raising doubts about their credibility and transparency. Traders should research carefully before engaging with Vertex Forex.

trading-platform

Customer Support

Vertex Forex's customer support, as evidenced by the provided email address (support@vtxforexs.com), appears to reflect the overall disappointing and concerning nature of their services. The lack of transparency, unavailability of critical information on their website, and unresolved issues reported by traders in the review all contribute to a negative impression of their customer support. It raises questions about their responsiveness and effectiveness in addressing client concerns and issues. Potential investors should exercise extreme caution when considering Vertex Forex, as their customer support may not provide the assistance and reliability that traders typically expect from a reputable broker.

Educational Resources

Vertex Forex's absence of educational resources is a significant drawback for traders looking to enhance their knowledge and skills. In an industry where informed decision-making is paramount, the lack of educational materials such as tutorials, webinars, or educational articles leaves clients at a disadvantage. It not only limits the potential for traders to grow and make informed decisions but also raises concerns about the broker's commitment to supporting their clients' success and financial literacy. As such, individuals seeking a broker that prioritizes trader education may want to explore other options with more robust educational offerings.

Summary

Vertex Forex, an unregulated broker based in Hong Kong since 2021, poses significant risks to traders with its exceptionally high minimum deposits, lack of transparency regarding fees and spreads, and doubts about the accuracy of its claimed trading platforms. While it offers a variety of market instruments and account types, the absence of essential educational resources limits trader growth and informed decision-making. Issues with withdrawals and concerns about customer support further contribute to a less-than-ideal trading experience. Potential investors should exercise extreme caution when considering Vertex Forex due to its unregulated status and potential for financial risks.

FAQs

Q1: Is Vertex Forex a regulated broker?

A1: No, Vertex Forex operates as an unregulated broker, which raises concerns about its transparency and adherence to industry standards.

Q2: What are the minimum deposit requirements for Vertex Forex accounts?

A2: Vertex Forex offers four account tiers with minimum deposit requirements ranging from $1,000 (Bronze) to $20,000 (Platinum), which are considerably higher than industry norms.

Q3: Does Vertex Forex provide a demo account for traders?

A3: No, Vertex Forex does not offer a demo account, limiting traders' ability to practice and familiarize themselves with the platform before committing real funds.

Q4: Are there educational resources available on Vertex Forex's website?

A4: No, Vertex Forex lacks educational materials such as tutorials, webinars, or articles, which can hinder traders' knowledge and skill development.

Q5: What trading platforms does Vertex Forex offer?

A5: Vertex Forex primarily provides a web-based platform, and doubts exist regarding the availability of MetaTrader 4 and 5. Mobile trading apps are also reportedly missing.

News

NewsGCEX Enhances Liquidity with Hybrid Solutions Partnership

Hybrid Solutions offers a multi-asset trading platform VertexFX. It has a significant presence in the Middle East and Asia.

WikiFX
2022-03-24 11:59
GCEX Enhances Liquidity with Hybrid Solutions Partnership

User Reviews

More

User comment

1

Comments

Write a review

FX1284835418
more than one year
I guess I am the last one who knew Vertex Forex has shut down its website and ran away. I felt something wrong one month ago when they began to give me no response. Unfortunately, I did not think too much. $500 is not a big amount. Alright, I will take care next time.
I guess I am the last one who knew Vertex Forex has shut down its website and ran away. I felt something wrong one month ago when they began to give me no response. Unfortunately, I did not think too much. $500 is not a big amount. Alright, I will take care next time.
Translate to English
2023-02-24 14:27
Reply
0
0