UKVC is only convincing about one thing: they have no license or the regulation. The website is bland, and unimpressive. Much of the trading information is hidden from prospective traders. The firm claims to be from the UK, but only accepts deposits in MYR, VND and THB.
See the remainder of our UKVC Review to find out more about recognising potential scams, and stay protected on the internet.
The firm has existed for a little over a year now, but it is quite suspicious to see just one person representing it and being the director and the secretary of the entire firm. Sounds like a one-man-company scheme, doesn’t it?
It is evident that this conduct is an illegal brokerage agency without regulation and an apparent tendency to defraud unsuspecting customers. Security measures do not apply and funds storing isn’t done through segregated bank accounts.
“Huge scam! Stay clear if you don’t want to lose money, to think i was trying to make money and all of a sudden getting my money back from this company is next to impossible[…]”
What characterizes every boiler room agent is their persistence and patience of a saint. All for the sake of convincing you in the lucrativeness of their supposedly impeccable service.
UKVC scammers will make you believe their deal is the answer to your financial crisis, and soon enough you will find yourself investing. Troubles start as soon as you attempt to withdraw your profit or your initial investment.
Locked funds, additional fees and taxes to pay, as well as trading volume requirements all obstruct withdrawals and lower your chances to get a hold of your capital again.
If you’re facing such issues already, please contact our chargeback experts for prompt legal support in fund recovery.
The unified global approach that UKVC practices seems to be working for them. Unfortunately for the investors of all expertise levels that have fallen for the scam, their funds might be irreversibly lost. Do not wait long before you contact us for legal support in the process of restoring your stolen deposit. Especially if you’re one of the victims coming from these countries:
It is quite possible that UKVC doesn’t have their own trading server as an illicit entity, and has only labeled this MT5 Demo version as their own.
Downloading the demo MT5 to your mobile device is possible as well. However, UKVC directly links the version from the MetaQuotes store. You can go to the developers online store and download MT5 anyday, without the help of an unregulated broker’s links.
The financial instruments can be categorized in a few basic groups:
Only a single trading account type is available for the UKVC platform. The company does not clearly say what this account encompasses, unfortunately.
Regulated companies always offer a few different account types. These cater to different trading niches. For instance, accounts can be zero-swap for Islamic traders, or may use different market execution technologies.
The trading application we’ve downloaded from UKVC allowed us to create a demo account. When you access the client dashboard you won’t be allowed access to a demo. You can only use a live trading account even though the switch button does exist.
The scammers would prefer not to offer a demo, but since it’s an innate function of their MT5 application, they had no choice in the matter.
Maximum leverage available on the UKVC platform is 1:400. This is far above the allowed maximum in many jurisdictions. For instance, regulators in the EU only allow leverage up to 1:30, while the max leverage in Canada is 1:50.
With UKVC starting spreads are as loose as 8 Pips, while the industry average spreads are tighter than 1 Pips. We have also found some trading instruments on the UKVC trading app with spreads as loose as 214 Pips, which is ludicrous!
The UKVC scam offers some dubious financial channels for deposits and withdrawals. When it comes to deposit, only a Bank Wire transfer can be done in USD. Other methods are listed as “local bank transfers” and can only be done in MYR, VND and THB.
Withdrawals can be done in either USD or USDT. This is in contrast with current AML regulation around the world.
Many traders complain that UKVC never allowed them to withdraw at all. If you have deposited funds with UKVC, book a free consultation with our legal experts and see how you too can start a chargeback process.
The UKVC is a fraudulent unlicensed brokerage with a very bad reputation. Their website is basic, and the platform they offer is only a demo version. Financial channels for deposits and withdrawals are suspicious, and they break the current AML standards.
The risk of investing with an illicit broker is significant, because the company can simply steal your money. If you have any funds deposited with UKVC, contact our legal experts for help with fund recovery. You may contact us at any time via the live chat.
No, UKVC is an illicit broker that doesn’t have any authorization for the business they are offering.
The mobile trading app available at UKVC is a demo version of the MT5, a multi-platform trading software.
No, we do not recommend trading with any unlicensed company. For help with recovering your assets from UKVC, contact our legal experts via the live chat on our website and book a free consultation.
The amount of withdrawal fee with UKVC is not disclosed. This allows scammers to invent large fees and squeeze more money out of their victims.
The post UKVC Review – One-Man-Company Scam Swindles People Around The World appeared first on Global Fraud Protection.
