VLC Trade LLC is a forex broker that claims to have registered its official website on June 24, 2023. It primarily offers financial trading services to investors in forex, stocks, precious metals, energy, futures, and more. The company's headquarters is unknown. The broker's website supports multiple languages, including English, traditional and simplified Chinese, Japanese, German, French, Arabic, Korean, Thai, Russian, and others.
Company Background and Regulatory Status:
According to information displayed on its website, VLC Trade LLC was purportedly established in 2002 with its headquarters in London. The broker claims to have direct branch offices in the United States, Canada, and Sydney, Australia. They also claim to be regulated by the UK's Financial Conduct Authority (FCA) with ID 504072, the Australian Securities and Investment Commission (ASIC) with ID 406684, and the Japan Financial Services Agency (FSA) with ID 2010401081157.
Upon verification, the regulatory information provided on the broker's website appears to be stolen from AVA Trade. The numbers 504072 (FCA), 406684 (ASIC), and 2010401081157 (FSA) all correspond to registered entities of AVA Trade in the respective countries, with no connection to VLC Trade LLC. Additionally, there is no information available for VLC Trade LLC's corporate entity registration and regulatory status.
Account Opening:
To open an account with VLC Trade LLC, users first need to register on their official website. During the registration process, users are required to provide their name, personal email, and set a login password. After submission, the broker will send a confirmation email to the user, and they must wait for the platform's approval before gaining access to their personal interface to open a real account.
Account Types:
VLC Trade LLC's official website does not provide information on account types. On their FAQ page, the broker claims to offer spreads as low as 1 point and trading leverage from 1:100 to 1:500, but detailed information on minimum deposits, trading commissions, margin levels, stop-loss levels, minimum trade sizes, etc., is not clearly disclosed.
Trading Platform:
VLC Trade LLC offers users the MT5 trading platform, both web-based and mobile. Upon verification, there is no record of a broker named VLC Trade LLC on the MT5 platform, only the broker's website domain. This is a common tactic used in scams.
Deposits and Withdrawals:
The broker's website does not specify the exact methods for deposits and withdrawals.
Customer Support:
Users can contact VLC Trade LLC for customer support through email at support@vlcforexjp.com.
Summary:
Traderknows warns investors that VLC Trade LLC's corporate entity registration information is unclear, and the so-called regulatory information appears to be copied from other brokers. The broker itself does not appear to be subject to legitimate financial regulation, and the absence of VLC Trade LLC on the MT5 trading platform raises suspicions. Through the broker's website domain, it appears that the broker cannot open real accounts. Traderknows advises traders to stay away from this platform when selecting a trading provider to avoid unnecessary financial losses. The broker's website is noted to be a template product with similarities to OBV Trade MT5. Currently, this broker is marked as a "suspected fraud" on Traderknows.
