V5 Forex Global Legit or Scam?

The forex industry has been defamed by scam brokers, causing people to be afraid of investing money in this vast market. According to recent reports, there are numerous cases of people being scammed by scammers in the Forex market every day. The exact number of victims is difficult to determine, but it is a growing concern in the industry. It is important for individuals to do their due diligence and thoroughly research any Forex investment opportunities before investing their hard-earned money. One of the Victim Complaint against this broker on Wikifx. In this article, We reviewed about V5 Forex Global.

Users Complaint

A user of V5 Forex Global complaint against V5 Forex Global, recently. He accused the broker that it manipulating the trades, and he came to bankruptcy. He asked Wikifx to help in this matter. Victim also shared some screenshots with us. We are providing to you . Have a look and be alert.

About V5 Forex Global

V5 Forex Global is a forex broker with US registration that gives customers access to a huge financial market. Trading positions can have a max leverage of 1:1000 on the V5 Forex Global platform. Customers of V5 Forex Global have access to a variety of market products, including Crude Oil, BTC, Stock, Indexes, and Forex.

Account Types

V5 Forex Global provides clients with two types of trading accounts, a real account and a demo account with virtual money of $100,000 in it.

Spreads & Commissions

V5 Forex Global says it provides spreads as low as 0.0 pips, which is not always true. Investors are strongly recommended to open a demo account first to test its trading environment and then to decide whether to switch to a real one or not.

Leverage

If on your V5 forex global trading account with the amount of $10,000, under the condition of the lever is 1000 times, and if you only want to use 10% of the account amount is $1000 for a margin call, you still can make a $100,000 ($1000x 100), because of the deal, the equivalent of v5 forex global provides you with similar s to the same credit card, and this is leverage role.

Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting out in the trading world, it's best to stick with the lower size (no more than a 1:10).

Trading Platform

V5 Forex Global offers is Tradingweb for PC and Tradingweb for mobile.

Payment Methods

The minimum deposit is $50, and the minimum withdrawal is $10.V5 Forex Global allows its clients to make a deposit and withdrawal through Credit Cards and wire transfers, and this broker says it does not charge any fees for deposits or withdrawals.

Customer Support

Contact this broker using the following methods if you have any questions or problems with your trading:

Online Chat

Telephone: +44 7494 183618

Registered Company Address: 1312 17th St, Denver, CO 80202, United States.

Review

According to the V5 Forex Global website. It claims that its website is operated by V5 FOREX GLOBAL Limited, registered at 1312 17th St, Denver, CO, United States V5 Global Limited is authorized and regulated by the US Financial Services Commission (FSC) (license number: 31000231951552) and US National Futures Association (NFA), (NFA ID: 0554281). But when we checked on both the regulatory authorities. We discovered V5 Forex Global is not actually registered by any of them. NFA said directly it is not a member of NFA and FSC did not find this firm. Here are the screenshots you may see. Also when we searched about this broker on WikiFX, we noticed it does not have a License.

As our suspicion arouse against this broker. We searched for Public reviews on the Internet. We got shocked when we saw there are many people on the internet who shared positive reviews about this broker though its not an authorized broker. Here are the screenshots.

Conclusion

Traders need to do their due diligence and thoroughly research any potential investments before committing to their funds. Additionally, it is crucial to only work with reputable brokers and to be wary of any promises of guaranteed profits or unrealistic returns. Stay vigilant and protect yourself from falling victim to these scams.

What is Wikifx & How it can help you？

WikiFX is a global forex broker regulatory enquiry platform that has investigated and reviewed more than 40,000 brokers, collaborating with more than 30 national regulators. To learn more about the security and reliability of your chosen brokers, visit www.wikifx.com or download our free app from Google Play or app store.