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Veracity -

Score

1.53 /10
Danger

Veracity

India

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://www.veracityfs.co.in

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Comparison

Quantity 2

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index7.15

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

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Company Name

Veracity Financial Services Pvt Ltd

Company Abbreviation

Veracity

Platform registered country and region

India

Company website

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Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-12-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Exposure

2 pieces of exposure in total
Pyramid scheme complaint
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Veracity · Company summary
Veracity Review Summary
Registered Country/RegionIndia
RegulationUnregulated
Market InstrumentsEquity, Commodity, Currency
Demo AccountN/A
LeverageN/A
SpreadN/A
Trading PlatformN/A
Min DepositN/A
Customer SupportTelephone: 079 68171800
Fax: 079 68171801
Email: support@veracityfs.co.in
Address: 301 Ashirwad Paras, Corporate Road, Prahaladnagar, Ahmedabad- 380015, Gujarat - India
Twitter, Facebook, and YouTube

Veracity Information

Veracity Financial Services is a relatively new Indian financial services company specializing in currency derivatives and equity markets. It positions itself as technologically advanced and growth-focused, but it lacks proper regulation. Reports of slippage have also been associated with the platform.

Veracity Information

Pros & Cons

ProsCons
A variety of financial instruments like equity, commodities, and currency derivativesLack of regulation
Multiple customer supportFunding options only support cheque and online transfer

Is Veracity Legit?

Veracity Financial Services does not appear to have any of the financial authorities backing it up. There is no data regarding its registration with major regulatory bodies like FCA or ASIC. Such absence of regulations should concern a trader most when thinking about investments and their security measures.

Furthermore, slippages are also reported, which further puts the question of reliability and effectiveness of the platform into the spotlight.

Is Veracity Legit?

What Can I Trade on Veracity?

Veracity offers a variety of products across different markets, like equity, commodity, currency.

Tradable InstrumentsSupported
Equity✔
Indices❌
Shares❌
Metals❌
Commodities✔
ETFs❌
currency✔
Bonds❌
CFDs❌
Futures❌

Deposits & Withdrawals

Deposit Options

Deposit OptionsMin. DepositFeesProcessing Time
Cheque\\\
Online Transfer\\\

Withdrawal Options

Withdrawal OptionsMin. WithdrawalFeesProcessing Time
Cheque\\\
Online Transfer\\\

User Reviews

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User comment

1

Comments

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defh
more than one year
My experience with Veracity has been disconcerting. I have noticed a severe discrepancy with what I'd consider normal market conditions. The slippage was extreme and nearly resulted in the depletion of my account. Furthermore, the MT5 application experienced sudden freezing which led to catastrophic damage to my account. These incidents feel far from coincidental and thus, I can't help but suspect some form of manipulation behind-the-scenes. I earnestly hope that someone could investigate this matter thoroughly.
My experience with Veracity has been disconcerting. I have noticed a severe discrepancy with what I'd consider normal market conditions. The slippage was extreme and nearly resulted in the depletion of my account. Furthermore, the MT5 application experienced sudden freezing which led to catastrophic damage to my account. These incidents feel far from coincidental and thus, I can't help but suspect some form of manipulation behind-the-scenes. I earnestly hope that someone could investigate this matter thoroughly.
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2023-12-19 19:56
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