VO Markets Review: Can You Trust This Brokerage Firm?

The broker we’re covering is operated by an offshore trading firm based in Saint Vincent and the Grenadines (SVG). The website has been active for about six months now and has already built a large following.

But is VO Markets legit? Several regulatory issues stem from the fact that this is an offshore platform, as was the case with InvestPoint. Hence, we decided to investigate this platform in our VO Markets Review and give our verdict on whether you should trade on it or not.

Broker status:	Unlicensed Offshore Broker
Regulated by:	Unregulated
Operating Status:	Active Forex Trading Scam
Known Websites:	vomarkets.com
Blacklisted as a Scam by:	FCA
Owner:	N/A
Headquarters Country:	SVG
Website Active Since:	2023-06-06
Online Trading Platforms:	WebTrader
Mobile Trading:	Available
Minimum Deposit:	500 USDT
Deposit Bonus:	N/A
CFD Trading Option:	Yes, you can trade CFDs
Crypto Asset Trading:	Yes – BTC, ETH, USDT…
Available Trading Instruments:	Forex, Indices, Commodities, Stocks, Cryptocurrencies, ETFs
Maximum Leverage:	1:400
Islamic Account:	Unavailable
Free Demo Account:	Unavailable
Accepts US clients:	Yes
Global Fraud Protection Experts’ Verdict:	Avoid Working with this Company

Is VOMarkets Regulated?

Let’s first tackle the VO Markets regulation issue. As mentioned, the brokerage firm claims to be based in the offshore domain of Saint Vincent and the Grenadines.

SVG is a notorious scam haven with countless anonymous crooks setting up shady businesses there. The wrongdoers find this island attractive due to its lax regulations and favorable tax system. So VO Markets is unregulated, implying the broker is not liable to financially compensate clients in case things go wrong.

Furthermore, the firm is not authorized to accept clients from heavily regulated jurisdictions such as the United Kingdom. This is confirmed by the warning that the UK’s Financial Conduct Authority (FCA) issued on November 20, 2023. For that reason, we strongly advise you to avoid offshore platforms.

If you want a reliable provider, we suggest you find a licensed provider that operates under the supervision of reputable financial market authorities such as the FCA (UK), CySEC (Cyprus), FINMA (Switzerland), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), etc.

Why Financial Market Regulations Matter

In order for brokerage firms to obtain a regulatory license under esteemed financial jurisdictions such as the United Kingdom, they must have a minimum operating capital of 730,000 GBP.

Furthermore, their clients must receive negative balance protection, a segregated bank account in a top-tier bank (e.g. Barclays), a safe leverage cap (1:30) for retail clients, and a reliable compensation scheme contract with the FSCS worth up to 85,000 GBP.

Trader Reviews – Sharing Experiences

At the time of this writing, VO Markets had 92 reviews and a score of 4.2/5 on trustpilot.com, which is quite impressive. The platform received relatively positive feedback but whether these reviews are honest remains to be seen.

There are complaints as well. Some traders expressed their frustrations with the platform, claiming that they were scammed. These reviews must not be ignored so be careful.

Who Are VO Markets’s Targets?

According to godaddy.com/whois, the Vomarkets.com website domain was created on June 6, 2023. Since then, the offshore provider has been mainly offering services to traders from the following countries:

• United Kingdom;
• United States;
• Canada;
• Australia;
• Bulgaria.

Each of these countries has a top-tier financial watchdog. Their respective market authorities enforce heavy regulations to prevent unauthorized entities from running their schemes. To reiterate, the UK’s FCA flagged VO Markets as a potential scam.

As we already mentioned, you are not entitled to compensation should you lose money to this unreliable platform. Do not fall for the trick AdarCapital used.

Which Trading Platform Is Available?

VO Markets offers its traders a simple web-based platform to trade popular assets such as Forex currency pairs, commodities, stocks, NFTs, and cryptocurrencies. In addition, there is a mobile app for Android and iOS devices, as well as a Tablet trader.

We saw the platform for ourselves but couldn’t actually trade on it because there was no risk-free demo account option. Nevertheless, it looks pretty unpolished and lackluster.

If you want a true trading experience, we suggest you find a licensed provider that supports renowned third-party software such as MetaTrader 4, MetaTrader 5, or cTrader. MT platforms support useful tools such as automated trading, live market reports, advanced charting, a user-friendly interface, multiple timeframes, lightning-fast order execution, etc.

Available Live Account Types

Account Type	Starter	Advanced	Premier	Elite	Master
Minimum Deposit	500 USDT	5,000 USDT	25,000 USDT	100,000 USDT	150,000 USDT
Maximum Leverage	1:100	1:200	1:400	1:400	1:400
Spreads	N/A	N/A	N/A	N/A	N/A
Commissions	N/A	N/A	N/A	N/A	N/A

Trading Conditions – Leverage, Spreads, Commissions

VO Markets’s maximum leverage is capped at 1:400, which is significantly higher than what is allowed in the UK (1:30) or North America (1:50). High leverage is a double-edged sword; it can magnify potential profits but also potential losses.

As for the trading costs, i.e. spreads and commissions, the broker did not disclose anything on the website. The trading platform displayed a spread of around 0.2 pips for EUR/USD, which is competitive but unreliable due to the broker’s problematic legal status.

Deposit and Withdrawal Process

It appears that the only way to deposit funds into a VO Markets account is via US Tether (USDT). The minimum deposit is 500 USDT, which is nearly equivalent to 500 American dollars.

The reason why scammers typically prefer crypto transactions is that it allows them to remain anonymous, and tracing that money can be a nightmare.

Reversing crypto payments requires professional assistance. Luckily for you, we have a team of experts who specialize in tracing crypto payments in order to get our clients their money back.

What Should I Do If I Have Issues With VO Markets?

To sum up, VO Markets is an offshore trading platform, mainly accepting traders residing in the UK, US, Canada, Australia, and Bulgaria. We don’t recommend this firm because it is unregulated, plus not compliant with regulatory requirements.

This platform can easily steal your funds, according to the FCA’s warning. In our review, we have stressed the importance of regulations and why it is better to trade under jurisdictions supervised by recognized financial market watchdogs.

If you have fallen victim to the VO Markets scam, please book a free consultation with Fusion Forensics Limited. We have a team of experts who can assist you in the fund recovery process and get your money back as soon as possible.

Book your free consultation today and get your money back.