One of the most important things before investing money in trading is to find a reliable and trustworthy broker to work with. Unfortunately, there are lots of scamming brokers on the internet, just waiting to take advantage of inexperienced traders. FVP Trade is one of them, and in this article, we will provide you with their company overview, team, and services and products.
Company Overview
| Broker Status | Offshore Scam Broker |
| Regulated by | Unlicensed Forex Provider / No Regulation |
| Scammers Websites | FVPTrade.com / FVPT-UK.com |
| Operating Status | Active Forex Trading Scam |
| Blacklisted as a Scam by | N/A |
| Broker Owner | FVP Trade Ltd |
Team
There comes the first red flag. You can notice that both abovementioned websites are for the same company and when you click on the “About Us” tab, they will redirect you to the management page of FVP holding.
Services and Products
FVP Trade offers several trading instruments such as forex, stocks, indices, and commodities, as well as various international markets. They offer their customers several trading account types, including Silver, Gold, and Platinum accounts. The minimum deposit is $5, which is lower compared to other brokers.
Trading Platform
They offer their customers a web-based trading platform, which is common. The platform is user-friendly and easy to navigate. However, it is not as advanced or sophisticated as other platforms offered by other brokers.
License and Regulation
License Status
FVP Trade Limited, based in the British Virgin Islands, owns the broker FVP Trade. The firm, however, claims to be licensed only by the UK FCA. As a result, we wanted to investigate these concerns and ensure that your money is truly secure.
Unfortunately, the broker is scamming consumers and spreading false information in order to entice additional people into a scam. We tried to see if the FVP Trading Forex broker existed because BVI has its own license provider from the Tier 3 zone.
This firm does not even have an offshore license, putting your assets in danger.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Regulation Status
FVP Trade claims to be regulated, but there is no information about the regulatory authority that regulates them. Therefore, this claim can’t be verified as there is no regulatory body regulating them.
Why Should Not You Trust An Unlicensed Broker?
One of the major issues with online broker scams is the lack of regulation. An unlicensed broker is not bound by any regulatory rules, which means that they can do anything they want without being held accountable. Furthermore, the majority of unlicensed brokers are fraudulent and use false advertising, trading scams, and various other fraudulent techniques to take advantage of their clients.
Legal Warnings Against FVP Trade
Several financial regulatory authorities have issued legal warnings against FVP Trade due to their unlicensed status. For instance, the Financial Conduct Authority (FCA) has issued a warning against them regarding their operating status. This should be taken as a significant warning sign.
Client Feedback About FVP Trade:
About Their Trading:
Many customers have reported that FVP Trade has poor trading conditions, and the trading platform is not advanced enough. Some customers state that they have lost a considerable amount of money trading with them because of the erratic behavior of the trading platform.
About Their Customer Service:
Several customers have also reported that FVP Trade has poor customer service. They have experienced long waiting times when trying to contact them, and the customer service agents are not helpful when resolving issues.
How Can Reviewsadvice Help You If You Get Scammed?
If you get scammed by this broker, you can submit your case to us. We will evaluate your case and will give you a free consultation and service recommendations to help you in recovering the lost fund.
Final Thought
In summary, FVP Trade is an unlicensed and unregulated brokerage firm that has received legal warnings from regulatory authorities due to its fraudulent activities. Their trading conditions and customer service are subpar, and their trading platform is not advanced enough. Therefore, we strongly advise against using their services. If you have already invested your money with them and have been scammed, Reviewsadvice can help you recover your funds.
