Velocity Trades (Velocitytrades.com) is a forex brokerage that has been in operation since 2017. The site lists the name of the company that owns it as Velocity Trades Ltd.
Join us below as we take an in-depth look at the features velocitytrades.com allegedly offers. The review covers aspects of its licensing, its account types, its leverages, its withdrawal, and deposit methods. Read through our review to see what we and other experts have to say about this broker.
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Velocity Trades Trading platform
Velocitytrades.com claims that their aim is to be the solution to those engaging in the financial markets.
They offer traders the opportunity to trade Forex and CFDs on Commodities, Indices and Shares. They do this by supporting a custom-built trading platform.
The sites also give these additional features as reasons to choose them
- Trade CFD’s on indices and commodities
- Spreads from 0.0
- Up to 400:1 leverage
- 1 USD minimum deposit
- Education & Analysis
- Partnership Programmes
A quick look at the domain registry shows that its website has been registered since 12th March 2017.
Velocity Trades Account Types
This broker has four account types with the lowest minimum deposit being $10.
The CENT account comes with a spread of 1.8 PIPS, a leverage of 1:400 all for the minimum deposit of $10
The CLASSIC account comes with a spread of 1.5 PIPS, a leverage of 1:400 all for the minimum deposit of $20
The STANDARD account comes with a spread of 0.2 PIPS, a leverage of 1:400 all for the minimum deposit of $100
The ECN account comes with a spread of 0.4 PIPS, a leverage of 1:400 all for the minimum deposit of $500
Velocity Trades Deposit and withdrawal methods
In this section we will be discussing the methods of depositing and withdrawal that is used by this broker.
Velocity Trades support MasterCard, Skrill and Neteller, however Visa, Web money are not available.
This broker claims not to have any withdrawal fees.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal.
Is Velocity Trades Licensed?
This site claims to be owned and operated by Velocity Trades Ltd with registration number: 25605
Saint Vincent and the Grenadines is a well-known offshore zone, and a preferred location for shady brokers. Although this broker doesn’t claim to be regulated by the government of SVG, the government of the SVG has stated in the past it does not regulate any form of forex trading.
Velocitytrades.com failed to mention what body it was registered under. So in order to ascertain if this broker was licensed, we had to check several regulatory bodies. We checked the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others. At the end of our search we didn’t find any licensing information concerning Velocitrades.com
So, no, this broker is not a licensed broker.
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Conclusion
Velocitytrades.com doesn’t give an in-depth explanation of their strategy.
We couldn’t find paying customer reviews to gauge the rate of satisfaction in the product
No verifiable trade results
Although the website looks professional and more improved than it has ever been, the points above still leave doubts in our minds and as such, we won’t be able to recommend this software to anyone.