VIP Global Markets has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Elitecoinonline. We’ve received over 3 complaints against VIP Global Markets.
VIP Global Markets is an unregulated financial services firm that has generated concerns with regulatory organizations such as the OSC for operating without proper licensing. It has received complaints regarding bad customer service, delayed payments, and aggressive sales methods. Consumers should be cautious and avoid investing with this company.
If you’ve lost money or have had a bad experience with VIP Global Markets, you can work with an investigative agency. They can provide you with the help you need:
Key Takeaways
Is VIP Global Markets Regulated? Do They Have a License?
VIP Global Markets is a financial services firm that has raised severe concerns with many regulatory agencies due to suspicious practices and a lack of formal registration. The company and has drawn the attention of regulators for failing to meet the legal requirements for engaging in securities trading in numerous jurisdictions.
One of the main concerns about VIP Global Markets is its lack of registration with regulatory organizations in the regions where it claims to operate. Both the Canadian Securities Administrators (CSA) and the Ontario Securities Commission (OSC) have issued clear warnings regarding the company. The OSC, in particular, has stated that VIP Global Markets is not registered to conduct securities trading in Ontario.
The lack of regulation or the presence of poor regulation is a huge red flag. It means VIP Global Markets might be a scam or most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of VIP Global Markets, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at VIP Global Markets
The implications for investors considering working with VIP Global Markets are significant. Without proper registration and regulatory control, the company operates in a murky area, leaving investors vulnerable. Engaging with such an unregulated organization carries considerable financial risks, including the chance of fraud or misconduct. If something goes wrong, investors may be left with no legal recourse or safeguards because the company is not held to the same rules and laws as real financial institutions.
Given these cautions, investors should approach VIP Global Markets with extreme caution. Before investing, check the registration status of any financial company, speak with licensed financial advisors, and report any suspicious activity to regulatory authorities. Prioritizing safety and interacting only with regulated businesses is critical for safeguarding one’s investment.
However, it’s worth noting that many forex scams disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
Victims can get help from a specialized investigation agency that can look into the scam for them. Contact our recommended agency here.
VIP Global Markets Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Shady brokers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
VIP Global Markets Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Even if VIP Global Markets might not be a scam, brokers like them rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust the online VIP Global Markets reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of VIP Global Markets, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like VIP Global Markets enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “VIP Global Markets reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising VIP Global Markets.
You should always look out for consumer complaints. In the case of VIP Global Markets, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about VIP Global Markets? You can share your complaint in the comment section or submit an anonymous tip.
Is VIP Global Markets Legit Or a Scam?
VIP Global Markets is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind VIP Global Markets can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust VIP Global Markets?
All the evidence suggests that VIP Global Markets might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
If you’ve experience in dealing with this company or a similar one, we recommend working with a trusted investigative agency. That way, you can get professional help and resources.
Frequently Asked Questions
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VIP Global Markets scammed me. What do I do now?
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How Forex Scams Work
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
