Abstract：FVP Trade claims to be a UK-based online forex broker that provides transparent pricing, fast execution, and advanced charting tools for its traders. However, Recently, WikiFX has received a lot of complaints related to this broker. If you're wondering what's going on, please continue to read.
About WikiFX
WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.
About WikiFX Exposure function
On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.
But how to use it？
Step 1: Install WikiFX app.
Step 2: Log in to the WikiFX APP and click the “Exposure” section on the homepage. Then you will enter the exposure page.
Step 3: Click the “Expose” button to choose the exposure type and the broker you want to report.
About FVP Trade
According to its website, FVP Trade claimed itself to be a UK-based online forex broker that provides transparent pricing, fast execution, and advanced charting tools for its traders. However, WikiFX has given this broker a very low rating of 1.8/10. A broker with such a low rating is not trustworthy.
Regulation
FVP Trade officially advertises that it is regulated by the FCA. But upon inquiry, its status is only registered, and it has not obtained a forex license certified by the FCA, not to mention the possibility of segregated bank depository funds, and its orders are not hedged against international markets. On its website, it also claimed to be regulated by BVI with license number:1958626. According to WikiFX, this broker has been verified to be illegal and all of its licenses have expired, and it has been listed in WikiFX's Scam Brokers list; Therefore, we consider FVP Trade as an unregulated broker. An unregulated broker is more likely to take your money away fraudulently.
Ponzi Scheme
As we know so far, FVP trade is getting involved in a Ponzi Scheme. It is a financial investment scam where the money gathered from the new investors is paid to the existing investors. The scammers also can pay their new investors with deposits from early investors. Therefore, many investors didn't know the truth at the time, and they felt reassured and decided to invest more. This is pyramid scheme fraud, which is extremely concealment, and deceptive. Many investors will eventually lose money after depositing the money since they can no longer find these fraudsters.
Freezing of Funds
Recently, FVP Trade announce a statement about the freezing of funds. In this statement, FVP Trade explained the reason why all its current assets which include bank deposits have been frozen. ( “It is under the investigation of international anti-money laundering organizations”) .FVP Trade also claimed that it was taking action to deal with the problem. However, whatever the excuse is, many investors can not withdraw the money is an inevitable problem.
Complaints from victims
As of July 19, 2022, WikiFX has received 21 complaints against this broker within 3 months. The biggest problem they face is withdrawal refusal as FVP Trade claimed the accounts are frozen. Below are some of them that we want to show you.
This trader claimed that he can open FVP Trade APP but cannot withdraw.
This trade from China suspects that this broker abscond. He cannot withdraw his money from his account.
This trader complained the freezing of funds is an excuse for this broker to not return investors money.
According to the above, this trader Reminds other victims that this broker now refuses the investors' withdrawal request on thbecausefunds have been frozen. If later FVP Trade asks the victim to pay more money, everyone should be aware of the potential risks.
Conclusion:
It is no doubt that FVP Trade is a scam getting involved in Ponzi Scheme. As many victims can not withdraw their money from this broker, we advise people to avoid this broker as possible as they can. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself. If you have any problems with this broker, please do not hesitate to contact WikiFX. The global customer service of WikiFX is +234-706 777 7762 on WhatsApp. Or you can call +65-31290538. We are willing and ready to help you out. Stay tuned for more information.
FAQs
According to the WikiFX investigation, FVP Trade has received several complaints from traders all across the world, resulting in a bank inquiry against the firm. After a few minutes after claiming their money has been frozen, the program goes down, and traders are unable to access their accounts.
Is it safe to invest in FVP trade? ›
As for FVP Trade, the answer is yes. The company is registered and regulated by the International Financial Services Commission (IFSC) in Belize. This regulatory body has strict guidelines and requirements for financial companies to ensure the safety and security of investors.
What is FVP trade? ›
FVP Trade is a forex broker based in the United Kingdom. As a brokerage firm, it offers a variety of trading instruments to its clients, including forex currency pairs, commodities, indices, cryptocurrencies, and metals.
Is Tradefx live real or fake? ›
Tradefx Global is not a trusted broker because it is not regulated by a financial authority with strict standards. We would not open an account for ourselves with them. If you want to stay safe, only sign up with brokers that are overseen by a top-tier and stringent regulator.
What is the FPV in trading? ›
FPV – Fair Price Value Area, is referring to the period of equilibrium or “balance” in the supply/demand equation before a fast/big move out due to a sudden excess of supply or excess of demand.
Who is the owner of FVP? ›
Jonathan Greene - CEO @ FVP Trade - Crunchbase Person Profile.
What are the safest stock market investments? ›
Safe assets are those that allow investors to preserve capital without a high risk of potential losses. Such assets include Treasurys, CDs, money market funds, and annuities.
What does FVP do? ›
Running at speeds comparable to the real hardware, Fixed Virtual Platforms (FVPs) are complete simulations of an Arm system, including processor, memory and peripherals. These are set out in a "programmer's view", which gives you a comprehensive model on which to build and test your software.
How to spot a FVG? ›
Fair value gaps can become a magnet for the price before continuing in the same direction. On a chart, a fair value gap appears in a triple-candle pattern when there is a large candle whose previous candle's high and subsequent candle's low do not fully overlap the large candle.
What is a private equity trader? ›
Equity traders analyze data, look at charts, and ensure that the trade meets the requirements of their employer and government regulations. An equities trader can work for an investment bank, a private equity firm, or other financial institution. Some traders work independently.
The Reserve Bank of India (RBI) regulates the forex market in India. According to Indian law, forex trading is legal only if it is done through a registered Indian broker. Individuals are not allowed to trade in the forex market on their own without the assistance of a registered broker.
Is online forex trading gambling? ›
Forex trading is the ultimate form of gambling. We get to review past price action before putting on a trade. Can you imagine getting to see the dealer's hand before making a decision at the casino? That's exactly what we can do in Forex.
Is FX trading real or fake? ›
In conclusion, forex trading can be a legitimate and profitable form of investment, but it is important to be aware of the potential for scams. By being vigilant and taking the necessary precautions, you can protect yourself from falling victim to a forex scam. Stay informed and stay safe in the world of forex trading.
What is the FPV rule? ›
You must have a visual observer colocated with you that can see the UAV if flying FPV. You must stay below 400 feet Above Ground Level ( AGL ) or the maximum height allowed by LAANC for the area. Follow all FAA airspace restrictions including TFRs and NOTAMs. Never fly near other aircraft.
What is the meaning of FVP in drone? ›
FPV stands for "first-person view", and it means you can see what the drone sees in real time, thanks to an integrated video camera. This means you can fly the drone in bird's-eye view, giving you an immersive and incredibly exciting flying experience.
How safe are preferred bank stocks? ›
Preferred securities are highly correlated with the health of the financial system, and a shock to the financial system would adversely impact these securities. Preferreds tend to be BBB- or BB-rated, i.e., they carry higher levels of credit and default risks than senior debt issued by the same issuer.
Is it worth investing in the SPY ETF? ›
Bottom line. The SPY ETF is a cost-effective investment option for investors looking to gain exposure to about 500 large US companies. However, it is also subject to the same risks as any other investment in the stock market, including market volatility, and economic and geopolitical risks.
Should I invest in Anglo American? ›
Anglo American has a consensus rating of Moderate Buy, which is based on 6 buy ratings, 7 hold ratings and 0 sell ratings. The average share price target for Anglo American is 2,889.83p. This is based on 13 Wall Streets Analysts 12-month price targets, issued in the past 3 months.
Is it safe to invest in Exchange Traded Funds? ›
Most ETFs are actually fairly safe because the majority are index funds. An indexed ETF is simply a fund that invests in the exact same securities as a given index, such as the S&P 500, and attempts to match the index's returns each year.
