FiatVisions Review: Fiatvisions.com Shady Offshore Scheme
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FiatVisions Review
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Customer Support
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Proof of Payment
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Fund Safety
Summary
There is a phone number if one wants to call the broker. Unfortunately, this is never enough. A broker should be easy to reach even through a phone number or email. They have a LiveChat option, but when we tried it, they said the agents were unavailable and we could leave our contact details instead. This is unsuitable for new traders and it is questionable how they could have gotten an award for being the best trading platform for newcomers.
FiatVisions is an offshore broker. Although they claim to offer high-quality services, our investigation has revealed some inconsistencies that need to be addressed. While trading, you must ensure that you are dealing with an honest and trustworthy crypto broker. This is the only way to ensure your money is safe.
In the dynamic realm of forex trading, the allure of quick profits has attracted not only legitimate investors but also scammers adept at exploiting regulatory loopholes in offshore jurisdictions. These unscrupulous entities have tarnished the reputation of the forex market and jeopardized the investments of unsuspecting traders.
About Fiatvisions.com
Some of the market instruments offered by this broker include currency pairs, commodities, stocks, and indices. They also claim to have won several awards, such as Best Trading Platform for Newcomers in Mauritius. However, they have not backed these claims with solid evidence because they haven’t explained which agencies give them these awards.
We, however, noted that the broker is deliberately vague about critical information. For example, they have said that they are transparent and there is no price manipulation. This is false. Also, they claim to have ‘convenient’ leverage. This use of weasel words raises serious questions about the broker’s legitimacy and commitment.
Founders and Team
Despite our best efforts, we could not link this broker to any known founder or businessperson. The broker is intentionally hiding the identities of the leaders because they know they have a tarnished reputation. Clients have a right to know who the company founders are or the current leaders.
In many ways, leaders determine the trajectory of the company and the practices they embrace. For example, if the leaders are principled, they will not allow unfair business practices in their company. On the other hand, leaders who are fond of breaking the law and swindling customers may perpetuate the same unethical business practices.
Contact Details
There is a phone number if one wants to call the broker. Unfortunately, this is never enough. A broker should be easy to reach even through a phone number or email. They have a LiveChat option, but when we tried it, they said the agents were unavailable and we could leave our contact details instead. This is unsuitable for new traders and it is questionable how they could have gotten an award for being the best trading platform for newcomers.
It is clear that the awards were fake and the broker is just presenting this false image to mislead people. If indeed they were that customer-centric, they would not have such unreliable contact details.
FiatVisions Regulation Status
Regulation plays a pivotal role in protecting investors’ interests in the forex market. By regulating brokers, investors are assured of the legitimacy and reliability of the broker. Regulatory bodies, such as the Securities and Exchange Commission (SEC) in the United States or the Financial Conduct Authority (FCA) in the United Kingdom, enforce rules that govern brokers’ conduct.
Regulation is paramount also in maintaining the integrity of the forex market. It helps prevent fraudulent activities, such as price manipulation and insider trading. Unfortunately for traders, Fiatvisions is not a regulated forex broker. Although they claim to be a legal entity and even have a registration number, this broker is dubious. They are also in the offshore jurisdiction, so it’s easy to operate without oversight.
FiatVisions Trading Conditions
The broker has three types of accounts. The lowest minimum deposit is $5,000 for the Beginners account. This amount is too high for a broker who claims to be suitable for beginner traders. There are many regulated brokers which allow traders to open accounts even with $10. The broker has not revealed the details about the spread, leverage, and commission charges.
Final Verdict
There are too many red flags associated with this offshore broker. From our investigation, we can conclude that FiatVisions is shady and committed only to deceiving forex traders.
Forex trading is a profitable business to those who trade with the honest and transparent crypto brokers. Failure to do so jeopardizes your account and puts your capital at greater risk. Always ensure your broker is trustworthy.
