Vanine Limited (vanineltd.com) is a fraudulent website that plagiarizes and imitates the well-known brokerage firm XM. Its domain was registered on July 2, 2024. The site mainly offers trading services for forex, precious metals, commodities, energy, stocks, indices, and other financial derivatives. It does not provide services to jurisdictions where doing so might violate local laws or regulations.
Company Registration Information and Regulatory Status
According to information disclosed on Vanine Limited's official website, the platform has obtained licenses from several regulatory authorities, including the Investment Industry Regulatory Organization of Canada (IIROC), the Financial Crimes Enforcement Network (FinCEN) in the United States, the National Futures Association (NFA) in the United States, the Australian Securities and Investments Commission (ASIC) (Trading Point of Financial Instruments Pty Limited), the Cyprus Securities and Exchange Commission (CySEC) (Trading Point of Financial Instruments Ltd), the Financial Services Commission of Belize (FSC) (Vanine, License Number 000261309), and the DFSA (Trading Point MENA Limited).
Upon investigation, it was found that the Investment Industry Regulatory Organization of Canada (CIRO), the Financial Crimes Enforcement Network (FinCEN), and the National Futures Association (NFA) do not have records of a registered company named Vanine Limited. Additionally, the Financial Services Commission of Belize (FSC) has no company with the license number 000261309. The company's information, regulatory details, and website design are all stolen and imitated from the well-known brokerage firm XM.
Trading Instruments
Vanine Limited offers trading services for a variety of financial derivatives, including:
- Forex: The exchange of currencies between different countries, the world's largest financial market, mainly used for currency exchange and speculation.
- Precious Metals: Such as gold and silver, used as investment hedges against inflation. Their prices are usually influenced by economic uncertainty and inflation.
- Commodities: Ranging from raw materials to agricultural products such as oil, natural gas, copper, soybeans, and wheat, with their prices affected by supply and demand and the global economic situation.
- Energy: Including oil, natural gas, and coal, sensitive to global economic and political events, with significant price volatility.
- Stocks: Represent partial ownership of a company, allowing investors to earn a portion of the company's profits (dividends) and value appreciation (capital gain) by buying stocks.
- Indices: Indicators reflecting the overall performance of the market, such as the S&P 500, Dow Jones Industrial Average, and NASDAQ Composite Index. Changes in indices reflect overall market trends.
Account Opening Process
The steps to open an account with Vanine Limited are as follows:
- Visit vanineltd.com and click the "OPEN AN ACCOUNT" button on the homepage to proceed to the registration page.
- Enter your email and set a password, then submit the application form.
- After successfully registering, you need to complete the KYC verification to make deposits and start trading.
Trading Accounts
Vanine Limited offers four types of trading accounts: Micro Account, Standard Account, Vanine Ultra Low Account, and Shares Account.
Micro Account:
- Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- Contract Size: 1 lot = 1,000
- Leverage: Up to 1:100
- Negative Balance Protection: Provided
- Major Currency Pair Spreads: As low as 1 pip
- Commission: None
- Maximum Open/Pending Orders: 300
- Minimum Trade Volume: 0.1 lots (ST5)
- Maximum Lots per Ticket: 100 lots
- Hedging Allowed: Yes
- Overnight Interest (Swap): Yes
- Islamic Account: Available
- Minimum Deposit: $5
Standard Account:
- Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- Contract Size: 1 lot = 100,000
- Leverage: Up to 1:100
- Negative Balance Protection: Provided
- Major Currency Pair Spreads: As low as 1 pip
- Commission: None
- Maximum Open/Pending Orders: 300
- Minimum Trade Volume: 0.01 lots
- Maximum Lots per Ticket: 100 lots
- Hedging Allowed: Yes
- Overnight Interest (Swap): Yes
- Islamic Account: Available
- Minimum Deposit: $5
Vanine Ultra Low Account:
- Base Currency Options: EUR, USD, GBP, AUD, ZAR, SGD
- Contract Size: Standard Ultra Low Spread: 1 lot = 100,000; Micro Ultra Low Spread: 1 lot = 1,000
- Leverage: Up to 1:100
- Negative Balance Protection: Provided
- Major Currency Pair Spreads: As low as 0.6 pips
- Commission: None
- Maximum Open/Pending Orders: 300
- Minimum Trade Volume: Standard: 0.01 lots; Micro: 0.1 lots
- Maximum Lots per Ticket: Standard: 50 lots; Micro: 100 lots
- Hedging Allowed: Yes
- Overnight Interest (Swap): None
- Islamic Account: Available
- Minimum Deposit: $5
Shares Account:
- Base Currency Options: USD
- Contract Size: 1 share
- Leverage: None
- Negative Balance Protection: Provided
- Spreads: According to the exchange's rules
- Commission: Yes
- Maximum Open/Pending Orders: 50
- Minimum Trade Volume: 1 share
- Maximum Lots per Ticket: As per each share's conditions
- Hedging Allowed: No
- Overnight Interest (Swap): None
- Islamic Account: Available
- Minimum Deposit: $10,000
Trading Platform
Vanine Limited claims to provide a trading platform called ST5, available for both desktop and mobile, featuring over 50 technical indicators and intraday analysis tools. However, when users click the mobile download link on the official website, they end up downloading Vlockedxa from the App Store and EVJORERJG from Google Play, raising questions about the legality and safety of these software applications.
Deposits and Withdrawals
Vanine Limited does not specify the deposit and withdrawal methods, related fees, or minimum amounts on its official website.
Conclusion
Traderknows reminds investors that Vanine Limited (vanineltd.com) is a fraudulent website impersonating the well-known broker XM. The contact information provided is limited, with only an email address available. Investors are advised to choose brokers with transparent information and strict regulation to avoid unnecessary financial losses.
