What is VLC Trade？
VLC Trade is a trading platform that has been in operation for between 2 to 5 years. The company is registered in Saint Vincent and the Grenadines, a region often associated with lenient financial regulation. At present, VLC Trade is noted as a non-regulated entity, which indicates that it is not officially monitored by any financial regulatory body. This might be a point of caution for potential traders and investors. VLC Trade offers users with 3 different account types and a demo account as well. As for customer support, VLC Trade can be reached via phone at (+34) 911332462 or by email at info@nagabrokers.com from 09:00 AM to 06:00 PM.
Pros & Cons
Cons:
Non-regulated: VLC Trade is currently non-regulated. Trading with a non-regulated broker carries a greater risk as there is no regulatory oversight to ensure the broker adheres to fair trading practices.
Lack of Information on the Official Website: This is a significant drawback as it makes due diligence checks difficult for potential clients. Traders depend on transparency and thorough information to make informed financial decisions.
Not-so-good User Reviews: Negative user reviews may lead potential customers to question the reliability, service quality, and overall user experience provided by VLC Trade.
Is VLC Trade safe or scam？
VLC Trade is currently not regulated by any known financial regulatory authority, introducing a greater degree of risk for traders utilizing their platform. Trading with non-regulated brokers can carry potential problems, including a lack of assurance in fair trading practices and no clear route for redressal should disputes arise.
Regarding reputation, VLC Trade seems to have a negative standing as per user reviews. The two exposure cases of VLC Trade revolve around significant issues with a specific trading platform, both involving a considerable amount of investment. One was led to invest a considerable sum in what turned out to be a fraudulent scheme. After making a substantial profit, they were unable to withdraw their earnings unless they paid a 17% tax. And the other one experienced an outright scam. Their account funds totaling over 4 million USDT were frozen by the platform. The platform then allegedly went through superficial modifications and demanded that the individual pay an additional 10,000 Australian dollars to unfreeze and transfer funds.
Market Instruments
VLC Trade provides a wide range of market instruments for its users to trade in. This includes Spot Metals, offering the ability to trade on the price movements of metals such as gold and silver. Users can also trade in various global Indices offering exposure to different economic sectors. Spot Commodities are available for those interested in trading goods like oil, gas, and others. Cryptocurrencies, a popular and dynamic trading instrument, are also covered by VLC Trade. The platform additionally provides opportunities to trade in US, EU, and Asian Stocks, providing a broader spectrum of choices across geographical locations. Hence, VLC Trade offers an extensive selection of instruments to cater to varying trader needs and interests.
Account Types
NAGA provides distinct educational packages under the names Gold, VIP, and ECN Education. Plus, VLC Trade, as part of its dedicated customer service, offers the benefit of free demo accounts. These allow users to navigate and understand the platform's various tools and features, and practice trading strategies without any financial risk.
Commissions
All these account types charge no commission fees. This essentially implies that trading activities undertaken with these accounts will not attract any commission costs, a major plus point for traders. Such a fee structure can typically result in substantial savings, especially for high-volume traders.
Deposit & Withdrawals
VLC Trade provides a variety of deposit and withdrawal methods for its users. These include traditional Bank Transfers via Electronic Funds Transfer (EFT) and the SWIFT network. For those preferring digital options, Crypto Transfers are also accepted. Lastly, transactions can be done using Credit Cards, offering a more immediate and convenient method of moving money. This range of methods ensures flexibility and ease of transactions for all users of VLC Trade.
Restricted Countries
VLC Trade, unfortunately, has some geographical restrictions in place and is unable to offer its services within certain countries. The platform does not cater to residents of the USA, Canada, Germany, and Turkey. Therefore, individuals residing in those countries are unable to access and make use of the services provided by VLC Trade.
Customer Support
VLC Trade provides customer service via multiple channels to ensure their clients receive support when required. Customers can reach out to VLC Trade via online messaging, phone at +359 899 520735, Twitter, Facebook, and Instagram, or via email at info@vlctrading.com for any queries or problems.
VLC Trade maintains office hours from 9:00 AM to 6:00 PM, but it's not specified which time zone this refers to - it might be assumed as the local time zone of their offices in Saint Lucia or Bulgaria.
Conclusion
VLC Trade is a trading platform with registration in Saint Vincent and the Grenadines, operational for between 2-5 years. Yet, VLC Trade is a non-regulated broker, which does present a certain degree of risk for clients. VLC trade offers three account types that aim to accommodate traders of different levels and learning needs: Gold Education, VIP Education, and ECN Education.
In all, potential clients are advised to do their due diligence before trusting VLC Trade with their investment.
Frequently Asked Questions (FAQs)
Q: Is VLC Trade a regulated broker？
A: No, VLC Trade is currently non-regulated.
Q: How can I contact VLC Trade's customer service？
A: They can be reached via phone at +359 899 520735 or through email at info@vlctrading.com.
Q: What are the operating hours of VLC Trade？
A: Their working hours are from 9:00 AM to 6:00 PM, the specific time zone for these hours isn't mentioned.
Q: Does VLC Trade have any physical offices？
A: Yes, VLC Trade has offices in Saint Lucia and in Bulgaria.
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.
2023-03-13 11:57
