Vibeinv-Some Details about This Broker

GENERAL INFORMATION

First of all, it should be noted that Vibeinv24 is a new domain of a questionable website we have already reviewed – vibeinv.com. Although Vibeinv24 appears to have been activated only recently, it has already attracted the attention of the Italian financial regulator Commissione Nazionale per le Societa e la Borsa (CONSOB), which blacklisted it in November 2021:

According to the website Vibeinv is a brand name of Vibeinv Invest Limited, a company registered under the Law of Marshall Islands:

However, in the text of the Terms and Conditions we find the wording that the company operates and is regulated under the laws and regulations of Vanuatu:

Registration in any offshore region would not make Vibeinv24 any less suspect because neither has any laws governing brokerage companies. But these discrepancies in the legal paperwork prove beyond a shadow of a doubt that this is not simply an offshore broker, but a fraudulent game.

Additionally, Vibeinv24 asserts to be a division of Belight Capital Group, an investment company in Cyprus that is accredited and overseen by the Cyprus Securities and Exchange Commissions (CySec).

The CySec registry search reveals that this business's license has been revoked and that its website is no longer operational. There is no proof that this firm is connected to Vibeinv24 in any manner, even if it were still operating.

Registration in any offshore region would not make Vibeinv24 any less suspect because neither has any laws governing brokerage companies. But these discrepancies in the legal paperwork prove beyond a shadow of a doubt that this is not simply an offshore broker, but a fraudulent game.

Additionally, Vibeinv24 asserts to be a division of Belight Capital Group, an investment company in Cyprus that is accredited and overseen by the Cyprus Securities and Exchange Commissions (CySec).

The CySec registry search reveals that this business's license has been revoked and that its website is no longer operational. There is no proof that this firm is connected to Vibeinv24 in any manner, even if it were still operating.

All brokers licensed in Cyprus are members of the Investor Compensation Fund, which may cover a maximum of EUR 20,000 per person in the event of broker insolvency. Cypriot forex brokers are required to report their clients transactions on a regular basis. This requirement is designed to improve investor protection and promote market integrity and transparency.

TRADING SOFTWARE

You may always employ the services of one of the several trustworthy brokers who provide MT4 or the more recent and sophisticated MT5. These platforms have made a name for themselves in the market by providing a broad range of features, such as numerous choices for customization, support for multiple accounts, the ability to create and utilize unique scripts for automated trading, and the ability to backtest trading techniques.

MINIMUM DEPOSIT

The minimum deposit is 5000 EUR. Most licensed brokers offer more favorable terms for beginner traders, including micro accounts with a minimum deposit of as little as 100 USD/EUR.

SPREAD

A spread of 2.5–3 pip is also connected to the initial “Green” account. Spreads over 2 pip are seen as being overly high and unfavorable to the trader. Only Vibeinv24 accounts with a deposit of above 50,000 EUR provide a spread that is comparable to the standard for the industry. Zero spreads are shown on the web trading platform, but given all the incorrect and misleading information on the website, this is simply one more contradiction that raises questions about the reliability of Vibeinv24.

LEVERAGES

A leverage of 1:200 is specified for account types. Such levels cannot be seen at regulated brokers. High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. In the EU, UK and Australia, the maximum leverage allowed is 1:30 and in the US it is 1:50.

VIBEINV24 DEPOSIT/WITHDRAW METHODS AND FEES

On its website Vibeinv24 claims to accept deposits with credit cards and popular e-wallets like UnionPay and WebMoney.

However, after logging into the customer account we see only one option in the deposit menu. Although it has a credit card logo, it links to a cryptocurrency wallet.