VastWealth Review: A Lethal Ponzi Scheme

VastWealth presents itself as a genuine investment company. However, there is more than what meets the eye of the broker. You don't need any financial literacy to see these red flags. The first thing we noticed is the entity is operating anonymously. They claim to be under Vallencio LLC. This ghost venture cannot be found on the face of the earth. 

It is important to know the qualification of people handling your money. Reputable financial entities in the market present their team to the public. It instills confidence as customers know their funds are in safe hands. Financial analysts, accountants, and account managers can be held accountable for misconduct. 

The main problem with anonymous companies is they exit the market unceremoniously, and VastWealth is no exception. It is also impossible to trace the criminals as they are tactical fraudsters. These ventures only accept funds via discreet methods. This means you cannot issue a chargeback. 

Instead of wasting your hard-earned money and time, we recommend you invest with regulated forex brokers. These are companies that have undergone thorough vetting from regulatory bodies. The firms are also subjected to strict rules. You will enjoy reasonable returns and peace of mind. 

VastWealth.live Review

VastWealth lacks terms and conditions. This is a clear indication the scheme is not following any guidelines. They can easily inflict hidden charges on traders without facing severe consequences. These scammers are breaking the law and will be put behind bars if caught. 

Their domain name is new. Hence, there is no proof of trading history. Anyone can open a website and use an A-game marketing strategy to rip off naive traders. Be careful of what you sign up for and avoid sharing personal data with anonymous people. Scammers will request a phone number, email address, and home address. 

Once they exit the market, they come back using a new identity. They promise to help you earn and recover what you have lost. They subject you to mental torture until you give in, and once they exit the market, they cut all communication. VastWealth has similar traits to notorious con artists. 

Trading Conditions and Trading Platform

We do not know the trading conditions of VastWealth. The venture promises huge returns, yet there is no active trading platform. Even bogus entities will make an effort to present a web-based interface. Licensed companies use software like MT4 and MT5. Users can also trade automatically and earn passive income. 

However, we suggest you acquire basic trading knowledge before opening a forex or crypto account. Investment is not a walk in the park. You need to understand common terms like spread, leverage, and how to open and close order. 

Legitimate brokers offer customers a leverage of 1:30 to 1:50. It is a safe limit, and you should only go for a higher cap when you have adequate experience. The ideal spread is from 1.5 pips going downwards. There are generous ventures with one pip and below. 

Regulation Status of VastWealth 

Spain's financial watchdog, the Comisión Nacional del Mercado de Valores (CNMV), has warned against VastWealth. The broker has been targeting Spain citizens without complying with the agency's requirements. It is a blind move to venture with a blocked broker. 

The authority wouldn't come to your rescue. This is a rogue platform eyeing novice traders' cash. It is a clone entity using details of an authentic company. Regulated brokers have to report their daily trading activities to the financial watchdogs. This helps the agencies to keep track of their transactions. It also eliminates the possibility of a scheme manipulating the market price. Audited results are far better than what scammers post on their websites to entice innocent traders. 

There is also the capital requirement for licensed companies. The amount varies from one country to the other. However, it is expensive to acquire a license. This is why scammers opt to conduct their business in offshore regions. The capital is enough proof that a broker can conduct trading activities without misappropriate use of customers' funds. 

Also, in the event of insolvency, traders of regulated brokers stand a chance of receiving compensation. Sadly, you will not get a penny from VastWealth when they shut down their operation. You could also lose more money than you invested since no negative account balance protection exists. 

VastWealth Contact Details and Customer Support 

A good company invests in top-notch customer support services. The staff is friendly and responds to clients' queries on time. They will get back to you if they are unavailable during the weekends. Genuine brokers offer phone and email support. They are dedicated to serving and bettering your trading experience. 

Sadly, VastWealth uses a fake address. You cannot visit their offices. They are also using a VoIP phone number. The cold call potential traders are promising, enticing ROI. Scammers are engaging until you request a withdrawal. The entity comes up with numerous excuses and even blocks traders' cell numbers. 

The authority cannot help since the broker is anonymous. Nobody knows who these individuals are and their country of origin. Transact only with regulated companies to get the value of your money. Legitimate firms also offer trading education to investors. 

VastWealth Customers Feedback

VastWealth has several negative reviews from traders. Those using the website for a month cannot access their account. They are receiving emails stating their accounts are suspended. There is no further information about why the broker is taking such cruel measures. Traders are also not told how they violated the entity's terms.

Many are now realizing this is a fraudulent entity. The withdrawal requests are being ignored. The minimum amount that the scheme accept is EUR 250. Considering there is no trading taking place, this is a ripoff. 

VastWealth convenience traders that their investment would not lose more than 20%, and the profits would surpass them in case of losses. One customer claimed the company kept asking him to deposit more cash, and once he told them he didn't have it, the broker offered to assist him in borrowing. He became suspicious and requested withdrawal via email. 

The account totals £1,700, and the broker asked him to wait for 5 business days. They ghosted him, and he had a nil balance upon checking the account again. VastWealth keeps calling random people to venture. There is no contact that you can reach for help. 

Nonetheless, there are those fake reviews on the website. The broker is likely paying people to leave these remarks. It is also a big red flag that the negative reviews are. Stay away from this company and invest with reputable firms.

Final Verdict

VastWealth does not provide withdrawal requirements. It is not clear the minimal amount traders can cash out. Moreover, we have yet to encounter anyone who has cashed from their system. The platform is using false information and promises to acquire more customers. The financial market is volatile. You cannot make money by pressing some buttons or hoping to benefit from only depositing cash. 

Ensure your venture with reputable forex trading companies. There are genuine schemes in the market with licenses. Their trading conditions are ideal. You can also count on their award-winning customer support to resolve your challenge.