Legal Status of VirtualPayout.com: Legitimate or Fraudulent?
In the UK, legitimate brokerages are required to hold an FCA license or be part of the Temporary Permission Regime (TPR). A search in the FCA register revealed no record of VirtualPayout, casting doubt on their claims of using segregated bank accounts for client deposits.
Efforts to find a license from other top-tier regulators like BaFin, ASIC, or CFTC also turned up empty, confirming suspicions that VirtualPayout.com is indeed a fraudulent operation.
VirtualPayout.com’s Client Base
Active since 2018, VirtualPayout.com has surprisingly avoided any official warnings, despite its lengthy operation as a broker. However, numerous negative reviews suggest that warnings are imminent. The primary victims of this firm appear to be from:
- Australia
- Luxembourg
- United Kingdom
We encourage sharing your experiences with this firm, either in the comments below or by contacting our chargeback experts without delay.
Feedback from Traders
Doubts about the legitimacy of VirtualPayout.com can be clarified by examining trader reviews. On Trustpilot, there are only 9 comments, and none are favorable.
Issues primarily arise when attempting to withdraw funds. If you’ve experienced similar issues, consider consulting with our refund specialists for advice.
Concerns About Leverage, Commissions, and Fees
A major red flag about VirtualPayout.com’s legitimacy is its leverage offerings. UK-regulated firms are limited to a maximum leverage of 1:30 for retail traders, yet VirtualPayout.com offers an excessively high leverage of up to 1:600.
Furthermore, the company is notably secretive about its fee structure and commission charges, a concern frequently highlighted in reviews of VirtualPayout.com.
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