Thinking of getting into business with Verge Markets? Here is what you must know about this broker. Carefully read this review to find out if vergemarkets.com is the trading platform you will want to trade with.
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About Verge Markets Broker
Verge Markets is an offshore brokerage company with a lot of promises for traders. The address of the broker indicates United Kingdom.
There are different account types the broker offers. See below.
To clarify, regardless of the trading instruments Verge Markets claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
vergemarkets.com: Reasons to Avoid This Broker
Firstly, vergemarkets.com is a platform with no financial authority overseeing its financial services. We believe this broker is not worth your money as it does not even have a regulation claim for us to check. There is no broker bearing such name on UK Financial Conduct Authority data-base.
Secondly, we noticed vergemarkets.com has a free account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under withdrawal policy, Verge Markets leaves us with no specific information on withdrawal fee nor processing days on withdrawal. Truly, this broker is a scam and its fraudulent schemes are clear.
Minimum Deposit
Verge Markets minimum deposit is pegged at $100 according to the account type.
As for the payment methods, the broker discusses nothing for traders. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
Verge Markets Platform
Verge Markets claims to offer MT5 (Industry standard trading platform), however, that doesn’t make the broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, it can get up to 1:3000. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Verge Markets Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
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Conclusion: Is vergemarkets.com a Reliable Broker?
No, vergemarkets.com does not seem like a reliable broker for traders even though it promises offers that look good to be true. The broker leaves us with a lot of red flags that is difficult to ignore. No legal documents on its webpage.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to find out scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.