The offshore situated VIP Crypto provides CFDs cryptocurrencies. It means the broker deposit real money and the broker convert it them according to cryptocurrency values, and then traders can trade. Also, it provides many cryptocurrencies to trade. Also, this broker has several concerns. In this VIP Crypto review, will unmask this brokerage provider and tell readers truth about this broker. Please follow it and read the full VIP Crypto review here.
About VIP Crypto:
The total numbers of cryptocurrencies this broker offers to trade is rather impressive, and they are Bitcoin, Ethereum, Litecoin, Ripples and more. Also, crypto coins can be traded against USD, EUR, and GBP. The payments accepted by VIP coins include Bank Deposits, Cards, Neteller, Skrill and Bitcoins. FX Wilkinson Europe LTD situated in London owns VIP Crypto brand. If the broker is operating from the UK, it is mandatory to have regulation of the Financial Conduct Authority. While cross-checking the broker’s registration, we found that the VIP Crypto is not listed. Trading with unregulated broker always posses the risk of loss and most of the times its a scam. The broker misleads its traders with false information about providing all sorts of tradeable assets from Forex to Bitcoins. While login in the provided demo account we find only cryptos were trading. Also, the most advised and used trading platform the MetaTrader is not offered. Instead, some new, unproven platform is provided. The broker also features higher spreads. A $100 fixed spread was available on USDEUR FX pair. It is quite high and increases the cost of trading. Average spread available in the trading market is about $ 30 – 40. Such a cost of trading is worthless from the many trader’s points of view. The minimum deposit required on four of the trading accounts is also huge. It increases from $250, $1000, $10000, and $50000 respectively.
Is VIP Crypto scam or legit?
The broker has many cryptocurrencies to trade but fails to offer other assets such as forex and commodities. It has a primary trading platform, but it cannot compete with MetaTrader. The trading conditions are poor and not beneficial to the traders. Most importantly, the broker is unregulated. Furthermore, the initial investment is enormous. In our views, the broker under question is a potential cryptocurrency scam broker. Investments of the traders are not in safe hand with VIP Crypto. Traders should not invest in such brokers.