While venturyfx.com promises traders a seamless path to becoming Forex professionals with the right tools, the website itself is plagued by a lack of transparency and noticeable design flaws.
Despite holding only an offshore license, this company has attracted unfavorable attention from multiple regulatory authorities. If we choose to overlook these glaring concerns, it becomes evident that there are minimal, if any, trading benefits associated with this broker, as you’ll soon discover in our in-depth VenturyFX review.
Inadequate Offshore Licensing
The parent company behind venturyfx.com, Smart Trade Limited, is indeed a legally registered and licensed entity. However, the concern arises from the fact that their license is solely issued by the Mauritius FSC, which is not known for being a stringent regulatory authority.
To ensure proper customer protection and the safety of funds, a reputable Forex broker typically holds at least one premium license from Tier-1 regulators like FCA, BaFIN, FINMA, NFA, or ASIC, to name a few.
Despite this, the company offers its services within the EU, but without the necessary permits. As a consequence, CONSOB and CNMV have placed the firm on their warning lists. This is a measure typically taken against unlicensed entities, such as Alphasoft.Ai. Unfortunately, this placement on regulatory warning lists raises significant doubts about the quality of service provided by the broker under review.
Instead of being concerned about the safety of your deposits due to the absence of segregated accounts, compensation funds, and transparency, it’s advisable to opt for a well-regulated platform to ensure a more secure trading experience.
Limited Consumer Reach
It’s a fact that virtual asset service providers don’t typically occupy the mainstream space, unlike businesses you’d see advertised on television. What has propelled certain companies into the echelons of Forex and CFD success is their exceptional service quality and the power of word-of-mouth recommendations.
For companies like the one under review, gaining exposure can be quite challenging, especially within a financial sector marked by fierce competition and high profitability.
What’s particularly concerning is the almost non-existent online presence of this firm. This leads us to suspect that they may primarily solicit their services via phone, a method commonly employed by unscrupulous entities like Ktxenr.
Operating Locations
The company’s owner, Smart Trade Limited, was officially incorporated in May 2020. However, the online platform was not implemented until more than a year later.
The venturyfx.com website, as per the WhoIs register, was initially launched in November 2021.
The majority of the company’s clientele appears to be based in the following countries:
- Mexico
- Brazil
- Uruguay
- United States
- Costa Rica
Basic and Unreliable Software
Upon testing the VenturyFX platform, we swiftly noticed substantial latency, which can result in significant slippage losses. Moreover, the platform’s design, although simplistic, lacks an intuitive interface for users.
Notably, the platform lacks one-click trading functionality, and the timeframe selector frequently disrupts the chart, leading to the display of nonsensical data. This platform falls short of the industry standards set by well-established programs like MT4, MT5, or cTrader, which traders typically expect from a reputable brokerage.
While web-based trading platforms are often viewed as secondary solutions, they remain a crucial backup option. Many industry leaders offer web traders, albeit highly customized and tailored to meet the specific needs of their clientele.
Selection of Trading Assets
The array of available trading instruments includes popular assets, and the inclusion of cryptocurrency pairs allows for greater portfolio diversification, albeit with increased risk due to the cryptocurrency market’s inherent volatility.
Nevertheless, the selection of individual trading instruments is rather limited, comprising only about 200 assets. Here’s an overview:
- Forex Pairs (e.g., EUR/USD, USD/CHF, GBP/CAD, EUR/TRY)
- Cryptocurrency Pairs (e.g., BTC/USD, ETH/USD, XRP/USD, LINK/USD)
- Equities (e.g., Volvo, Rosneft, Netflix, Nikon)
- Precious Metals (e.g., Gold, Platinum, Palladium, Silver)
- Commodities (e.g., Crude, Natural Gas, Lead, Copper, Aluminium)
- Indices (e.g., S&P 500, Nasdaq, Nikkei, Hang Seng)
Please note that these trading options, while available, may not be as extensive or diverse as those offered by more established and reputable brokers in the industry.
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