Reason to avoid: Offshore License
Listed Date: November 5, 2018
Top 3 Regulated Forex Brokers
Beware VTGFX is an Offshore Broker. It is NOT SAFE to trade.
- Company name:
Victory Trade Group limited. VTGFX. Ttcm Traders Trust Capital Markets LTD.
- Registration Address/ License:
Seychelles. Offshore License, No Regulation.
Victory Trade Group limited and its affiliated company Ttcm Traders Trust Capital Markets LTD using a trading name VTGFX to provide a trading environment to the various level of expertise traders on vast fo trading assets. The broker mentions its honest philosophy and fair long-term business relationship through the pure STP model and no conflicts of interest.
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.
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 any 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 any case, it is always recommended to choose Regulated brokers as a trading service provider, while there are vast of attractive offering among CySEC Regulated Brokers or from other authorities.