Vlom Review (2020): Scam Broker Alert!!!
Vlom.com is simply a false broker that uses relatively good offers to lure unsuspecting clients. However, this offshore broker is not what it claims to be. We urge you to read this review before making any form of investment with Vlom brokers.
Experienced trader or not, people go into forex trading with the intention of making real profit. To do this, you have to entrust your forex trading to the right forex brokers. Our job here is to review various websites that all claim to be forex brokers, then help you tell which is real and which is not. The following review will tell you all you need to know about Vlom Brokers.
About Vlom Brokers
Vlom.com is a brokerage company located in St. Vincent and the Grenadines. They run quite an impressive website at first glance, where they trade currency pairs, indices and various popular stocks.
They offer a leverage of 1:400 while claiming to have up to 300k clients. Vlom brokers also offer their clients the opportunity to trade on the go with their multi-device trading platform. These great numbers are part of what lured us to take a deeper look, till we discovered certain red flags.
Why You Should Be Wary of vlom.com
At first glance, Vlom brokers looks a complete harmless website. Yet, after a deep look at vlom.com, we feel you might want to consider the following before trading with them.
Vlom Brokers Withdrawal and Deposit Information
Vlom has multiple account types, with their minimum deposit being $100. There is nothing unusual about this, since most legit brokers use $100 as their minimum deposit amount as well. What is unusual however, is that the second cheapest account type takes a spike from $100 to $20,000. This is a very unusual increase and is enough to attract suspicion.
The payment methods for Vlom include bitcoin and various credit/debit cards. It is a red flag to see brokers who use bitcoin as a deposit method because bitcoin transactions are untraceable and cannot be retracted in the case of a scam.
Other shady policies in the withdrawal and deposit terms of vlom.com include the unnecessary delay of withdrawal processing for up to 5 days and the minimum withdrawal of $50. This would mean that if you have even $49 in your account, you will be unable to withdraw. This is comletely wrong!!
Vlom Brokers Trading Platform
The trading platform offered by vlom.com is the MetaTrader 5. This is one positive thing about the website as we always advise our readers to trade with brokers who use the MetaTrader 4 or MetaTrader 5. The MT5 is currently the best trading platform on the market, and if what they say is true, this is a big plus for them.
Vlom.com also integrates an expert advisor software in their website. Expert advisors are softwares aimed at aiding a trader in forex trading to increase their expected profit.
Vlom Brokers Licensing and Regulation
Vlom brokers, according to their website, are located in St. Vincent and the Grenadines, a well-known offshore zone. The SVGFSA has since come out to disclaim regulation of any forex brokers within their jurisdiction. Hence, this has made the country a hot spot for illegitimate brokers.
The sole fact that Vlom brokers claim to be located in SVG tags them as UNLICENSED, and illegal. You would be at serious risk trading with this broker.
Vlom Brokers Review Conclusion: Is vlom.com Legit?
No. Vlom.com is not licensed to operate as a broker. They are located in an offshore region and couldn’t be regulated brokers there if they wanted to. We do not recommend them to you, and we advise you deal with a transparent broker who’s licensed by a reputable agency.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!
