ValexTrade (valextrade.pro) is another vicious trading broker pouncing on unsuspecting traders. Those who have signed up with the store are ruing the decision. The store blocks withdrawals and even attempts to sell your private information. Yes, sending your bank details to the platform is not ideal. Members have lodged complaints against the platform, hoping action gets taken against Valex Trade. Here’s what we found out in our detailed VALEXTRADE REVIEW.
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In the about us section, ValexTrade claims to have started small and grown into a worldwide phenomenon. If that’s the case, we haven’t heard about it nor dozens of trades. The platform only wants investors to sign up.
We have seen sales tactics and platforms wanting to seem ideal and reputable. After all, we all want to invest and trade in a reliable platform. Valex Trade is not one of them. The platform is only looking to fool investors.
And that’s why we have decided to investigate it and expose the red flags. Unfortunately, the platform is full of them, and traps are used to fool investors. Thankfully, our expose will help the next trader to stay away from valextrade.pro.
The platform has ten offices worldwide and a litany of liquidity providers. We also see claims of having over 380 plus staff members. How is the platform different according to them? Valex Trade claims to strive to understand your desires and help you meet them.
A nice advertising strategy that would make just about anyone sign up. Before you do, a few features that straightaway expose the store. The website layout tries to hide vital trading information from members.
These are the traps a few members can note with the naked eye. But, of course, you have to be an experienced trader to see these traps. For newbies, everything seems nice and rosy before signing up with the platform.
Experts recommend doing due diligence before signing up with any platform. Make sure to check the nitty gritty of the platform. That way, you know fully what to expect from a trading platform.
As with any platform, you must weigh the pros and cons of valextrade.pro. But, it will help give you a standing on what to expect. And that’s why we are here. To expose the store for the cons found as they outweigh the pros.
There are no advantages with Valex Trade, as the platform loosely suggests. The platform is full of traps meant to veer you off from investing. No one has come out and heaped praise on the platform.
And there’s a reason why the platform has been operating in the dark. Claims of being a global brand are just a false narrative to lure beginners to sign up. Those who did are ruing the decision and want some form of compensation.
Here’s what to look for in a trading platform and the traps set by this broker;
There are two types of trading terminals available on the platform. These include MetaTrader and a web-based trading platform. Regarding a comfortable tool, MT4 and MT5 are the best tools for the job.
It has an intriguing user face that’s easy to use and understand. The terminals also come with one-click executions and quotes in real-time. Sadly for the investor, the platform will later block your withdrawal.
The available web trader is an example of why you should stay away from the platform. It’s unstable and lacks any advantageous trading tools. These include live analysis and technical indicator tools.
Traders can choose between three plans, Classic, Classic-Plus, and Elite trading accounts. Each of these accounts offers something different to users. However, there are some glaring differences to spot.
Classic
It’s the basic account, and the platform claims it is best for beginners. Leverage is 1:300, and members must deposit $250 to get started. You also get a limited number of trading assets with no account manager.
Classic-Plus
There’s an initial required deposit of $4,000 with the classic plus tier. After that, leverage is 1:200, with members accessing all instruments. You also get trading signals as the platform also promises negative balance protection.
Elite
The account is the most exclusive of them all. Members must deposit $15,000 to get started. Leverage starts from 1:100 with a maximum lot size of 15. You also get a dedicated account manager and premium analysis.
One of the main issues we have with the platform is the high leverage. The platform puts your trading position at risk with the first two accounts. Even regulators are against any platform offering leverage above 1:100.
The platform also limits the number of trading instruments for beginner traders. We see a platform secretly pushing investors to go for top-tier accounts. That way, the platform stands to gain more with a large deposit amount.
These are not dedicated, account managers but mere call agents. The platform hires call agents from firms and enlists their help to lure investors. As a result, call agents claim to have a lucrative open position limited to a few members.
The agent insists you are one of the lucky few chosen to get the spot. If you make the mistake of adding more funds, that’s the last you will see of them. The platform moves quickly to replace the manager with a new one.
Attempts to reach the previous manager will hit a wall. You start getting excuses as to why you can’t get access to your pool. The manager is on leave. That’s far from the truth, and the platform wants you to give up the chase.
Parity Group LLC is the parent company listed on the disclaimer on the homepage. It’s registered in St. Vincent and the Grenadines. The platform is an offshore entity that’s a high risk to investors.
No business registry document proves any alignment with the company. Some platforms will use license documents of an already registered entity. There’s nowhere the company lists ValexTrade as part of their company.
Your funds are far from safe with a platform failing to segregate accounts. The platform also fails to offer insurance cover for deposits made. Members get exposed to a lack of negative balance protection as a result.
Don’t expect the platform to offer any form of support. There’s no live chat where members can get help instantly. The platform also limits conversations to written form. For example, you can’t call just by sending an email and waiting for a response.
Please stay away from valextrade.pro as it’s an exit scam. No member has made any withdrawals for the past few weeks. That’s why you must stay away from it as best as possible.
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