FiatVisions is an offshore brokerage registered in 2019 in Mauritius. Since we’re pretty cautious when dealing with offshore firms, we wanted to check how the company runs its business.
Our unbiased FiatVisions review will give you answers about the license, trading terms, and everything else you need to know before you invest your hard-earned money. Let’s begin.
However, let’s talk about different tiers. All Forex and CFD regulators are divided into tiers based on their requirements and strict rule application. In the first tier, we have firm authorities, such as FCA, BaFin, and CONSOB. Offshore ones belong to a tier 3 due to their lack of supervision, allowing companies to slip some activities under the radar, and general lack of demands.
For example, FCA-regulated companies must meet specific criteria, such as maintaining minimum capital at 730,000 GBP, participating in the compensation fund with up to 85,000 GBP per client, and limiting leverage at 1:30 per ESMA.
FSC, on the other hand, has no such criteria. The required capital is 1,000,000 MUR, which is roughly $21,500. Additionally, companies are not obligated to participate in the compensation fund, and there are no leverage restrictions.
All this makes trading with offshore brokers less safe. Please notify our team if you have any details about FiatVisions broker and their operations.
FiatVisions is an offshore trading brokerage registered in Mauritius. However, the broker has earned several bans, most notably in the UK and Canada.
Finally, the AMF of Quebec issued its own alert regarding FiatVisions, stating that the firm is unlicensed to offer financial services.
With all this, you can be sure the firm is not as legitimate, despite its offshore licensing.
According to our research, FiatVisions is mainly active in the following countries:
Since the firm only holds an offshore license, it cannot provide services in countries that require local regulations, such as the UK, Germany, or Australia.
When a broker uses fake comments to entice investors, you know nothing good can come out of it. Hence, a reason to suspect FiatVisions’ reputation.
We tried reviewing FiatVisions’ trading platform but weren’t able to access it. The company offers a proprietary WebTrader with a dedicated mobile app.
According to the web presentation, the software contains raw pricing, quick execution, in-depth analytical tools, and multiple execution models. However, we could not register an account as it was pending approval from the broker employees. Therefore, we are unable to confirm anything said here.
It’s always good to have third-party software on offer, MT4, MT5, or cTrader. According to numerous retail traders, these are more reliable, less susceptible to different manipulations, and overall provide a great user experience.
You can choose between four asset classes, those being:
Crypto trading is not on offer, which is another drawback.
Besides the leverage, this broker doesn’t reveal other trading terms. We know that the spread is floating on each account, and that’s about it. Nothing about fees, commissions, or other related costs.
Depending on your trading skills, you can choose from two groups of FiatVisions account types:
You can get a personal account manager, daily signals, and a trading academy in the first group. With higher sums, the second group brings in the event room, webinars, and video courses.
The minimum deposit is exceptionally high, standing at $5,000. Usually, regulated firms have Micro accounts, starting with as low as $10.
Since we were unable to register an account, we were also unable to find the FiatVisions Demo account. Additionally, we didn’t see it mentioned on the broker’s site.
All this leads us to believe you have no choice but to deposit $5,000 to review the software. It’s too big an amount for a loosely regulated trading intermediary with fake reviews on Trustpilot.
In FiatVisions Withdrawal Policy, the company states that you must use the same payment method for the deposit. They explicitly mention only wire transfers, as the minimum sum to withdraw via bank is $50.
However, the main page shows credit/debit cards and Bitcoin as viable payment options. Therefore, it’s possible that you must use one of these for a payout.
Additionally, the T&C suggests that it takes 1-7 business days to process the request, plus an additional unspecified time for you to receive your funds. This does not align with what you’d expect from a legit, licensed firm.
In case of any issues with your FiatVisions account, let us know. Global Fraud Protection can help you file a dispute for a chargeback if you use your card as a means of payment.
If you use Bitcoin, we can connect you to our CipherTrace analysts, who will assist you in tracking your digital coins. Don’t waste time; it’s your most important asset. Book a free consultation now, and let’s begin!
FiatVisions is a broker regulated offshore. In case of any adverse outcomes, let us know, and we may be able to assist you with fund recovery.
FiatVisions claims to have a mobile app along with their proprietary WebTrader, but we couldn’t access it.
The brand was banned in several countries due to offering unregulated trading services; hence, we wouldn’t bet on safety.
FiatVisions is a broker regulated offshore. In case of any adverse outcomes, let us know, and we may be able to assist you with fund recovery.
FiatVisions claims to have a mobile app along with their proprietary WebTrader, but we couldn’t access it.
The brand was banned in several countries due to offering unregulated trading services; hence, we wouldn’t bet on safety.
The post FiatVisions Review 2023 – Can You Trust An Offshore Broker? appeared first on Global Fraud Protection.
