VIPBN Broker Review: Evidence of Fraud?

VIPBN: Main Problems

A major red flag surrounding VIPBN Broker is its unconfirmed regulatory status. The absence of clear regulatory oversight poses risks to the safety of investors’ funds.

A lack of transparency is another critical concern. It’s an essential element in finance, and any shortcomings in this regard taint VIPBN Broker’s credibility.

As a means of communication, the broker offers very meager options. All we found on his site is a pathetic phone number for contact via WhatsApp.

Our knowledge about VIPBN’s payment methodologies remains obscure due to the absence of a clear withdrawal policy. If we were to make an assumption, we’d propose that VIPBN likely accepts payments in cryptocurrency.

The particulars regarding deposit and withdrawal charges, as well as the necessary minimum deposit to commence trading with this unregulated broker, are also unclear. Such a conspicuous absence of transparency raises serious concerns.

Another problem that even beginners will notice is a poorly designed site.

Look how ridiculous the banner is inserted. There is no legal information on the whole site. Also, you will not find information about leverage, account types, minimum deposit and other information for traders.

Before performing any action, the broker offers to register. We do not recommend giving out personal data to unverified companies, as they may literally engage in theft of your personal data.

VIPBN’s Legal Status

It’s not hard to assume that there is no regulator, and the site is anonymous at all.

As per certain VIPBN evaluations, it is suggested that this brokerage firm originates from the United States.

Assuming VIPBN is truly a US-based cryptocurrency broker, it would be mandatory for it to register with the US Securities and Exchange Commission (SEC) as cryptocurrencies are categorized as securities rather than commodities in the US.

However, we found no record of an entity named VIPBN in the SEC’s registry, which is an expected outcome.

Mining – A Way to Lure Gullible Newcomers

VIPBN provides a cryptocurrency mining service, with US Tether (USDT) being the sole asset available for mining. VIPBN’s website presents four distinct options:

• A 3-day cycle for USDT with a minimum purchase amount of 3, delivering an overall interest rate of approximately 3%;
• A 15-day cycle for USDT Pledge mining with a minimum purchase amount of 1,000, yielding an overall interest rate of approximately 3%;
• A 15-day cycle for USDT Pledge mining with a minimum purchase amount of 2,000, returning an overall interest rate of around 4%;
• A 15-day cycle for USDT Pledge mining with a minimum purchase amount of 5,000, providing an overall interest rate of about 5%.

However, we hold reservations about the credibility of VIPBN’s offerings. We suggest seeking a licensed provider if you’re interested in cryptocurrency mining. Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

What Should I Do If I Am Scammed by VIPBN?

If you find yourself ensnared by the VIPBN scam, don’t lose hope. We can strive to recover your funds. Schedule a free consultation with our specialists, and they will guide you through the process of retrieving your money.
You can schedule a complimentary consultation and learn your first steps towards recovery.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – Grotfinance, MyProfitLive.