Traders must be aware that Folks Vision does not offer the trading tools they claim to have, and they will need to deal with an unregulated broker.
Reasons to Avoid this Broker
Peoplesvisions.com has no financial authority that oversees its financial services. Because SVGFSA, a local financial authority does not license forex brokers or monitor them, the regulation claim is untrue.
We also noticed that folksvisions.com does not offer a demo account to traders. Folks Vision is not available for free to traders so we don’t have any way of knowing if it’s viable in the forex market.
This broker doesn’t offer a money back guarantee, which means that trading on this platform is a risky business. Your money will not be refunded.
These cons are for forex traders who want to avoid losing their money to a scam broker.
Withdrawal and Deposit
Withdrawal processs
Folks Vision does not provide any information regarding withdrawals for forex traders. However, we believe that there will be charges.
Minimum Deposit
Folks Vision minimum deposit according to account type is $1
We can pay by Bank Wire Transfer, Credit/ Debit Card, or Bank Wire Transfer. This broker is risky so you shouldn’t make any payments. Be careful!
Folks Vision
Folks Vision offers MT5 platform (Industry standard trading platform). This broker’s presence of MT5 does not make it legitimate. Any scam broker could do the same thing to lure forex traders.
Leverage can reach up to 1:400. We advise against doing this with unregulated forex brokers like this one as you could lose your money.
Folks Vision Regulation and Licensing
You can easily believe that this broker is not licensed. This broker is not subject to any financial regulation, which means that your money is not at risk. Unlicensed or unregulated activities are a red flag that must be avoided.
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Conclusion: Isfolksvisions.com reliable broker?
Peoplevisions.com is not a trusted broker for traders, despite promising offers that sound too good to be true.
The broker is unregulated, meaning it is not licensed to operate in any country.
We have not recommended this broker to trade because we feel it is our duty to investigate scam forex brokers.
