Ventury FX claims to be a global forex and CFD trading platform, but there are a few problems based on the research done on its operations, licensing, and customer feedback. This Ventury FX review highlights the important aspects you should consider before trading with the broker.
Ventury FX Overview
- Company Name: Ventury FX
- Website: https://venturyfx.com/
- Address: Premier Business Center, 10th Floor, Sterling Tower, 14 Poudrière Street, Port Louis, Mauritius
- Regulation Status: Claims to be regulated by Mauritius Financial Services Commission
- Operating Since: 2021-11-11
- Warned By: Comisión Nacional del Mercado de Valores (Spain)
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Transparency and Credibility of the Company
Absence of Fundamental Business Data
The website’s homepage for Ventury FX does not provide any basic business information. There is no listing of the official company name, a contact number, or the address of an office – information that is typical for the financial service sector and, especially for a regulated firm, should be displayed on the homepage of a website. The severity of the lack of information raises issues regarding transparency and whether traders can verify the authenticity of the platform.
Operated by Smart Trade Ltd – An Offshore Entity
The Terms and Conditions vaguely refer to the account services of Smart Trade Ltd., claiming that Smart Trade Ltd is a company based in Mauritius. Even though entrusted with some financial firms, Mauritius is also an offshore zone and lacks proper regulatory supervision in regard to forex brokers. This means that traders using this platform take on high risk, as the offshore territory may lack adequate legal protection.
Regulatory Status and Warnings
CNMV Investor Warning
The Spanish financial authority (CNMV) has warned Ventury FX. The CNMV has stated that Ventury FX is not authorized to provide investment services in Spain. This is very important given that the broker has not followed European regulatory processes.
Regulatory Ambiguity in Mauritius
While Smart Trade Limited is listed with the Mauritius Financial Services Commission (FSC), there is no conclusive evidence that ties the company to the website https://venturyfx.com. With no assurance on domain associations, there are possibilities that impersonation or misrepresentation could have taken place.
Trading Conditions and Payment Flexibility
Limited Payment Options
Ventury FX only accepts payment via credit and debit cards. This could impact the flexibility and convenience that is expected from a payment option from most traders on a broker site. Most reputable brokers typically offer multiple payment methods, including wire transfer and digital wallets, in an attempt to accommodate a wider audience and introduce additional transaction methods for their transparency.
Lack of Information on Leverage
Another disadvantage is that there is not a single detail listed on trading leverage. Traders should check the leverage ratios, especially for risk and reward understanding.
Discrepancy in Establishment Claims
Inconsistency in Founding Date
Ventury FX claims to have been operational since 2018, but a domain registration check shows their website was created on November 11, 2021. The difference raises questions about the platform’s experience and performance history.
User Feedback and Reputation
Poor Ratings and Negative Reviews
Ventury FX is rated lowly at 1.5 on Trustpilot, and has many reviews saying to stay away from the platform. Complaints include:
- Unresponsive customer service
- Limited account access after deposit
- Claims of misleading behaviour
- Users needing recovery services from 3rd part service
It is noteworthy that these bad experiences are consistent with poor customer experience issues and issues with customer service.
Conclusion
Based on the current situation of information presented here, Ventury FX does not show a level of transparency, regulatory compliance, or service level that one would expect from a reliable broker. The lack of verifiably established company details, regulatory warning information, and customer displeasure are points of concern in considering them as a broker.
Have Concerns About Ventury FX?
If you have experienced issues with Ventury FX or have doubts about any potentially deceptive practices, it’s time to act.
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