ViratFX Review: Is Viratfx.com Trustworthy or Not?

× Alert!
  • - Can't withdraw your funds from this fraudulent company or broker?
  • - Have they asked you to pay excessive withdrawal fees or to deposit more funds?
  • - Or is there an excessive delay in processing your withdrawal?
  • - Are they trying to push you into depositing more money with them even without withdrawing the one you've already put in?

It's a CONFIRMED scam broker/company, recover your stolen funds by filling out the form below and you will get a FREE Got-Payback consultation today:

Fill in the form in the page below to recover your lost funds from this scam company
You will be redirected to got-payback.com after clicking the image

ViratFX Review
  • Regulation
  • Fund Safety
0.5

Summary

Unregulated brokers can misappropriate funds, manipulate prices, and refuse to honor withdrawal requests. These brokers also lack transparency and accountability. This makes it hard to resolve disputes or seek recourse. On the other hand, regulated brokers are required to adhere to strict regulatory standards regarding transparency and accountability. This requirement instills confidence in traders.

ViratFX promises to elevate your trading experience, offer a superior trading platform, and give exclusive benefits. However, don’t be fooled by all these promises because this broker is not genuine. Although forex trading is risky, you can still make some profit. To do this, however, you need to make sure you only trade with trustworthy and transparent crypto brokers.

ViratFX Review, Viratfx.com Broker

One of the most significant impacts of scammers in the forex market is the erosion of trust. Scams and fraudulent activities have made traders more wary and skeptical. This makes it challenging for legitimate brokers to establish credibility. It has also led to stricter regulations by regulatory bodies.

About Viratfx.com

This broker allows you to trade currencies, cryptocurrencies, stocks, and indices. They purport to gauge their achievement by triumphs of their traders. In other words, their goal is to ensure traders succeed. A broker’s job is to facilitate margin trading. Unless they can manipulate the price, it’s impossible to influence a trader’s success. The promises are too unrealistic, and this was a red flag.

When we checked whois.com, the company opened their domain on 21st December 2023, and it will expire after one year. This was a red flag because it shows the broker will not remain in the market for a long time. Scam brokers want to exit the market quickly before their schemes are uncovered.

Founders and Team

The information about the company founders and current executives is missing. This was a red flag because it shows the firm is not transparent. As a trader, you will feel more confident knowing the team behind the organization. Keeping this information hidden says a lot about the broker and their commitment to customer service.

Anonymity allows scammers to operate under multiple identities and brands. This makes it difficult for victims to trace their activities or file complaints. By presenting a professional-looking website and marketing materials, they can deceive potential investors into believing that they are dealing with a legit broker. Furthermore, hiding their identities allows them to avoid negative publicity.

ViratFX Contact Details

Traders can reach the broker through LiveChat or email. However, these are not enough. Although email is a ubiquitous form of communication, relying solely on it may not be sufficient. While email allows for asynchronous communication, it may not be suitable for urgent matters.

Regulation

We could not find any information regarding the company’s registration. They have not released any information to show whether they have an operating license, and this was another red flag. Unregulated brokers operate without scrutiny, leaving traders vulnerable to a range of risks. One of them is the lack of investor protection. Unregulated brokers like ViratFX don’t have segregated client accounts or compensation schemes to protect clients’ funds.

Unregulated brokers can misappropriate funds, manipulate prices, and refuse to honor withdrawal requests. These brokers also lack transparency and accountability. This makes it hard to resolve disputes or seek recourse. On the other hand, regulated brokers are required to adhere to strict regulatory standards regarding transparency and accountability. This requirement instills confidence in traders.

With a regulated broker, you will enjoy adequate customer support and protection of client data. Without regulatory oversight, there is no guarantee that the brokers will take the necessary measures to protect their clients’ interests.

Trading Conditions

The broker promises zero commission charges and low spreads. However, this vagueness was a red flag. The firm is not clear about the spread, and there is no guarantee that they will charge zero commission once you open a live account. Such a scam broker will do anything to get clients then change the terms once you sign up.

Final Verdict

Our research has shown that ViratFX is an unregulated forex broker. Therefore, you should not trust them with your money. If a company is not accountable to anyone, don’t believe anything they say.

For a better trading experience, work only with reputable and transparent crypto brokers. This is the only way you will ensure your money is safe.

Leave a Reply

Your email address will not be published. Required fields are marked *