VPFX is a brokerage firm that offers trading services in forex, energy, precious metals, stocks, and indices for investors. The official VPFX website is https://www.vpfx.net/, and the website supports only English as the primary language. According to the Whois query for the website's domain registration, the domain was registered on January 9, 2020, and, as of now, it has been registered for over three years.
Company Background:
VPFX's website indicates that the company is registered and established in Malaysia. However, searches on the Malaysia Business List and Directory websites did not yield any registration information for the company. Additionally, the website domain registration information indicates that the VPFX website domain was registered on January 9, 2020, over three years ago.
Account Registration:
VPFX provides registration links for both real and demo accounts. The registration process for a real account involves clicking on "Open Trading Account" on the homepage, choosing or filling in account type, name, email, phone, country, password, and other required information. The registration process for a demo account involves clicking on "Try Demo Account," choosing or filling in platform, currency, risk preference, account type, name, email, phone, country, and other required information. It's noteworthy that the demo account registration page supports Simplified Chinese, English, Indonesian, Thai, and other languages, while the real account registration page supports only English.
Trading Products:
VPFX provides trading services in forex, energy, precious metals, stocks, and indices. However, the website only offers information on the minimum trading volume and scale for specific trading products within these categories, without providing key information such as margin ratios, commissions, and spreads for specific products.
Trading Products:
VPFX provides trading services in forex, energy, precious metals, stocks, and indices. However, the website only offers information on the minimum trading volume and scale for specific trading products within these categories, without providing key information such as margin ratios, commissions, and spreads for specific products.
Margin Ratios:
VPFX does not provide information on the margin ratios for specific trading products in forex, commodities, stocks, and indices.
Trading Hours:
VPFX does not offer information on the trading hours for specific trading products in forex, commodities, stocks, and indices.
Deposits and Withdrawals:
VPFX supports various deposit and withdrawal channels, including bank transfers, VISA, MasterCard, Neteller, Skrill, and Fasapay. The website provides information on supported currencies, processing times, and associated fees.
Trading Software:
VPFX provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as trading platforms, supporting desktop versions (Windows/MacOS), web versions, and mobile versions (iOS/Android). However, the Android versions of MT4 and MT5 may face download and installation issues in certain countries or regions.
Additional Services:
VPFX offers services such as an economic calendar, MAM (Multi-Account Manager), and PAMM (Percentage Allocation Management Module). The economic calendar helps investors stay informed about past and upcoming economic data and risk events. MAM and PAMM services allow professional traders to execute manual or automated trading strategies on all their clients' accounts.
Risk Warning:
Due to ongoing and substantive Money Laundering and Financing of Terrorism (ML/FT) risks, VPFX does not provide services to countries or jurisdictions including Afghanistan, Côte d'Ivoire, Cuba, Iran, Libya, Myanmar, North Korea, Sudan, Puerto Rico, the United States, Syria, and Yemen. The list of countries or jurisdictions where VPFX prohibits services is provided.
Regulatory Information:
VPFX's website indicates that the company is authorized or regulated by the Labuan Financial Services Authority (LFSA) of Malaysia, the Financial Services Authority (SVGFSA) of Saint Vincent and the Grenadines, the Dubai Financial Services Authority (DFSA), and the Australian Securities and Investments Commission (ASIC). However, searches reveal that while the LFSA authorization or regulation information is accurate, the DFSA and ASIC websites do not show any relevant regulatory or authorization information. Additionally, the SVGFSA does not regulate, monitor, supervise, or license Business Companies (BC) engaged in forex trading or brokerage business.
Conclusion:
VPFX is suspected of fraudulent activity. Although the LFSA authorization or regulation information is accurate, searches on the Malaysia Business List and Directory websites did not yield any registration information for the company. Furthermore, the DFSA and ASIC websites do not show any relevant regulatory or authorization information. The SVGFSA does not regulate Business Companies engaged in forex trading or brokerage business. Based on these findings, VPFX is suspected of fraudulent activity, and investors are advised to exercise caution when considering the services offered by this company. TraderKnows reminds you to be vigilant about your financial security and avoid falling into fraudulent traps.
