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Beware of Unregulated Broker Activities VoloFinance

WikiFX | 2022-10-20 11:26

Abstract：VoloFinance an unregulated FX broker expanded its operations in Asia, the Middle East

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The UAE-based company says that India, Europe, Syria, Jordan, and other nearby countries are among its target markets.

Their statement says that the company wants to do more business in Asia, Europe, and the Middle East.

The company says that India, Europe, Syria, Jordan, and other nearby countries are among its target markets. It intends to establish a global footprint in the next few years.

VoloFinance is based at the Dubai International Financial Centre (DIFC), where it manages up to $100 million (Dh367 million) in funds for more than 4,000 clients around the world.

Louis, VoloFinance's chief marketing officer, said, “We are laser-focused on giving our clients the best-in-class service using cutting-edge technology and the right partners so they can grow their portfolios and income.”

Louis was giving a speech at the launch of the next generation of software for new and experienced investors to help them learn more about metals, currencies, and cryptocurrencies.

According to the UAE's Telecommunications and Digital Government Regulatory Authority's “Digital Lifestyle” 2022 study, about 11.4 percent of UAE citizens have invested in cryptocurrencies, putting the nation 10th worldwide in terms of cryptocurrency investments.

VoloFinance Overview

VoloFinance is a forex and cryptocurrency trading firm that operates online. The company's website does not specify where they conduct business. Even if it doesn't specify where they received their license or who controls them, this is an example of a broker you should never trust.

However, it states on its official website that the company has been partnered with Vlado Brokers, which makes VoloFinance regulated.

Always keep in mind that a regulated broker must be registered with one of the regulating authorities.

VoloFinance Regulation

VoloFinance has never been regulated nor registered with any of the regulatory bodies with its name. According to a statement on their official website, they are regulated by Vlado Brokers. This is something to be aware of as this is a common practice of a scam broker.

VoloFinance on the WikiFX

According to WikiFX, VoloFinance is classified as “Unregulated.” And, based on what I found when I looked for reviews, it seems like this broker hides its name so that traders can't leave feedback.

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Conclusion

VoloFinance may does illegal activities same as other unregulated brokers. As early as possible, avoid signing up to unregulated brokers. Before investing, learn about the broker's regulatory standing. If you are new to Forex trading and want to try your luck, WikiFX always recommends contacting WikiFX Support so you can get the best assistance in finding reliable brokers.

Contact information is provided below:

More information on VoloFinance may be found at https://www.wikifx.com/en/dealer/3986401025.html.

Keep an eye out for more Broker news.

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Related broker

Not Regulated

volofinance

Company name：volo.finance

Score

1.46

2-5 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Score

1.46

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