VTGFX Review (2023)

Is VTGFX a scam or legit broker?

Yet, the company is located in an offshore zone Seychelles and maximum are registered with a local register, which does not maintain any following of international standards that are necessary for safe trading on Forex. The VTGFX, however, misleads clients not only by mentioning its regulated nature of a business, as well provides register document samples, which have no any relation to the VTGFX company itself.

Victory Trade Group limited is using a trading name VTGFX to provide a trading environment to the various level of expertise traders on vast forex trading assets. The broker mentions its honest philosophy and fair long-term business relationship through the pure STP model and no conflicts of interest.

This is, of course, a serious issue and a strong signal that the company pretending to be a legal and safe entity, but in fact, it is not. Moreover, the broker appeared in a CySEC (Cyprus) list of non-authorized domains, since the Cyprus authority found that broker target international clients from the jurisdiction it got no permission to do. (Check the list of CySEC non-authorized domain here)

Considering all above said, investing money with unregulated and offshore companies increases the risk to lose funds timely since there is no protection provided to the client. And this is the case of VTGFX offerings that appeared in our list to avoid also while following the same advice from the reputable authority. In addition, the broker’s website seems to be suspended.

Conclusion

We advise all investors and traders to avoid VTGFX and other brokers from Seychelles. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BlackBull Markets. 

VTGFX website is no longer active