VLC Trading is a forex broker registered on its official website on February 15, 2022. It primarily offers financial trading services to investors in stocks, commodities, precious metals, indices, and more. The company is headquartered in Saint Lucia and has a branch in Bulgaria. The broker's website mainly provides services in English and does not serve residents of the United States, Canada, Germany, or Turkey.
Company Background and Regulatory Status:
According to publicly available information on their website, VLC Trading is operated by VLC Traqdings Limited and registered as VLC Trade LLC with registration number 2023-00326. The broker's address in Saint Lucia is Ground Floor, The Sotheby Building, Rodney Bay, Saint Lucia, and in Bulgaria, it is located at Bulair 7 Entr B, Floor 2 apt19, Bulgaria.
Upon verification, there are no business entities with the names VLC Traqdings Limited or VLC Trade LLC in the Bulgarian Commercial Register or the Register of Non-Profit Legal Entities. The Saint Lucia online company registry also does not show records for these two entities. However, a company with a similar name, VLC TRADE LTD, can be found in the Saint Lucia International Business Companies and International Trusts Registry (ifc), but detailed information on this entity cannot be accessed due to Saint Lucia's policies.
Therefore, the existence of the broker's corporate entity is unknown, and their foreign exchange trading and brokerage business do not appear to be subject to legitimate financial regulation. Additionally, their website consists of a single interface with no redirection.
Account Opening:
Opening an account with VLC Trading cannot be done directly through their website. Users need to contact VLC Trading through the email address provided on their broker's website and upload copies of their identification and proof of residence before opening an account.
Account Types:
VLC Trading offers users a demo account and three different types of real trading accounts: Gold Education Account, VIP Education Account, and ECN Education Account. However, critical trading information such as spreads, trading leverage, trading commissions, margin levels, stop-loss levels, minimum trade sizes, etc., is not disclosed on their website.
Trading Platform:
VLC Trading does not mention the trading platform they use on their website, and clicking on "Platform" at the bottom of their website does not lead to any relevant information.
Deposits and Withdrawals:
VLC Trading's website states that they support deposits via bank transfers (EFT), SWIFT, blockchain, and bank cards, but specific withdrawal methods are not disclosed.
Customer Support:
VLC Trading only provides customer support through the email address info@vlctrading.com and an online contact form on their broker's website.
Summary:
Traderknows warns investors that VLC Trading appears to be a forex trading scam website. The broker lacks corporate entity registration and regulatory information, and crucial trading details such as spreads, trading leverage, trading commissions, margin levels, stop-loss levels, and minimum trade sizes are not clearly disclosed on their website. Furthermore, the broker's contact options are limited, and the account opening process differs from that of regular brokers. As such, Traderknows recommends traders to steer clear of VLC Trading when choosing a trading platform to avoid unnecessary financial losses. Currently, this broker is marked as "suspected fraud" on Traderknows.
