VenturyFX Review: Is it Trustworthy or Scam?

Is VenturyFX Legit or Scam?

The strong warning signs point towards VenturyFX being a scam broker. Here’s a breakdown of the red flags:

• No Valid Forex License: Operating from Mauritius, lacks any regulatory oversight from reputable authorities. This absence of regulation translates to a lack of protection for your funds.
• CNMV Warning: The Spanish regulatory body, Comisión Nacional del Mercado de Valores (CNMV), has explicitly labeled VenturyFX as an unauthorized entity, raising serious fraud concerns.
• Unreliable Trading Platform: Their generic web-based platform lacks the functionality and features offered by industry-standard platforms like MetaTrader 4 and 5.
• Unclear Trading Conditions: There remains unclear about crucial details like maximum leverage, withdrawal fees, and minimum withdrawal amounts.
• High Spreads: The spreads offered by VenturyFX are considerably higher than the market average, leading to higher trading costs.

Considering these factors, it’s best to avoid VenturyFX altogether and opt for a reputable broker with a proven track record.

Company Overview

Services or Products

VenturyFX offers trading in various financial instruments, including:

• Forex Currencies
• Stocks
• Indices
• Commodities
• Cryptocurrencies

If you have lost money to companies like Inftrade, or Firstrade please report it to us on our Report a Scam form.

Trading Platform & Leverages

Trading Platform: VenturyFX provides a basic web-based platform lacking the advanced features and tools found in industry-standard platforms like MetaTrader 4 and 5.

Leverage: VenturyFX fails to disclose any information regarding the maximum leverage offered on various instruments.

Spreads and Cost of Trading

The spreads offered by VenturyFX are significantly higher than the market average, resulting in increased trading costs. For example, their EURUSD spread is 2.7 pips, considerably higher than the 1.5 pips offered by many reputable brokers.

License and Regulations

VenturyFX is not licensed by any recognized forex regulatory authority. This lack of regulation means there’s no guarantee of fair trading practices, client fund security, or dispute resolution mechanisms.

Legal Warning Against VenturyFX

The Spanish regulatory body, CNMV, has issued a clear warning against VenturyFX, labeling them as an unauthorized entity. This warning serves as a strong indicator of their fraudulent activities.

Deposit and Withdrawal Methods

VenturyFX restricts deposit options to credit and debit cards. Reputable brokers offer a wider range of payment methods for greater convenience.

Furthermore, VenturyFX remains unclear about withdrawal fees and minimum withdrawal amounts, raising concerns about potential difficulties when trying to access your funds.

VenturyFX Pros and Cons

Why Dealing With An Unlicensed Broker Is Risky

Trading with an unlicensed broker like VenturyFX exposes you to significant risks, including:

• Loss of Funds: Unregulated brokers may not segregate client funds, putting your money at risk in case of the company’s insolvency.
• Market Manipulation: The absence of regulatory oversight allows for potential manipulation of spreads and prices.
• Unfair Trading Practices: Unlicensed brokers may employ unfair practices like order execution delays or stop-loss hunting.
• Limited Dispute Resolution: In the event of a dispute, resolving the issue becomes difficult due to the lack of a regulatory framework.

Client Feedback

Reviews from various sources suggest negative experiences with VenturyFX, including difficulties withdrawing funds and unresponsive customer support.

How Can “Reviewsadvice” Help You If You Get Scammed?

While Reviewsadvice can’t directly recover lost funds, they connect you with resources to fight back. If scammed by a broker, Reviewsadvice can help with:

• Filing Complaints: Guidance on filing against brokers who violate terms or withhold money.
• Recovery Specialists: Connecting you with services to potentially get your funds back.
• Withdrawal Issues: Assistance in filing complaints if you’re facing withdrawal problems.
• Disappearing Brokers: Help find experts to track down the broker and guide your next steps or you Can report to us today by the below form.