Vix500 Review (2023)
Is Vix500 a scam or a legit broker?
Vix500 is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes. This results in a very high risk trading opportunity, despite its alluring proposal.
About Vix500
| 🗺️ Registered in | Vanuatu |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is Vix500 safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
Vix500 is an online trading broker that offers several account types to invest, depending on the size of a trader, and availability to trade through market-leading platform MetaTrader4 Forex, Indices, Stocks, Commodities and other assets. The broker claims its security and trustful trading through the quotes received from the leading liquidity providers and guarantee of transactions.
However, Vix500 is a part of the Blonde Bear OU group of companies and various trading brands that, however, were detected and warned times by reputable agencies that oversee Forex business and investment services firms, as well as maintained extremely negative reputation. The operational office of the group located in Estonia, Tallinn while the broker is not registered or overseen by any authority. Being located in the country part of the EU, the financial investment firm is mandatory to obtain a license in order to deliver its protected and legitimate trading service. Besides, the Vix500 brand is registered in Vanuatu, an offshore zone, which means the company tries to show its legal ruts in another jurisdiction, that yet do not set customer protection requirements.
Conclusion
As a result, the company showed their scam and fraud behavior towards clients and Forex trading itself, which is quite common among non-regulated brokers. For that reason, the traders should take it seriously while choosing a broker and not to involve into any action with the Blonde Bear OU group of companies and their offerings. The blacklisting, fraud reputation and generally non-regulated trading environment are the issue, which should be carefully checked before any decision is made. For that reason, we always recommend investment only with the Regulated companies that comply with the necessary protecting rules set by the world authorities alike FCA (UK), CySEC (Cyprus) and others.
Vix500 website is no longer active.