Is Vergemarkets genuine broker or scam?

By MANOJ KUMAR KHETAN, from India, November 20, 2021 at 11:07 AM

Verge markets limited approached us to start trading in FOREX, now at the time of withdrawal they are asking money, Are they genuine broker or scam, since they are regularly asking for money


Verge Markets claims to be authorized, regulated and registered by the key competent authorities and regulators. Supposedly, it should be a UK regulator the Financial Conduct Authority, since the broker is located in London, UK. After a quick research we couldn’t find any proofs of such regulation. It seems like Verge Markets is not authorised by any authority in general and therefor not allowed to offer its financial services.

We would recommend to stay away from brokers like Verge Markets and choose from the ones you are sure are regulated and trusted. As to the withdrawal issues and the fact that the broker is constantly asking for more money from you, these are the major red flags when it comes to dealing with brokers. You can try to withdraw smaller amount of your investments and also, do report about this issue to your local authority.

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