The biggest red flag for us and for the clients of the VEONCO should be the fact that the broker does not disclose the company behind the brand’s name. It also does not provide any regulatory information as well as its location or contact number. The regulated brokers always keep this information transparent as they have nothing to hide. VEONCO is probably hiding its unregulated status.

We have also found that supposedly VEONCO is registered with the Companies House. However, this type of registration doesn’t mean the authorization of the Financial Conduct Authority. Companies House is the United Kingdom’s registrar of companies, it is not the regulator that approves licenses for the brokers in the UK. Of course, there is no mention of VEONCO in the actual register of the UK’s FCA. 

We would recommend to stay away from this company and reconsider using a well-regulated broker.