VeronicaFX Trading Platform
We couldn’t find any method this broker used to execute trades.
Maximum leverage is 1:400
High leverages can be a double-edged sword. Traders can make huge profits if they trade in the right places, but it also means that traders can lose huge amounts if the opposite happens. Broker leverages are limited by regulatory bodies. Unregulated brokers do not have this cap on leverage. If you come across a broker who has leverage greater than 1:30, we recommend that you exercise caution.
Types of VeronicaFX Account
This section of the review will explore different account types that a broker may have. We examine the account and its deposit and leverage. This gives you a better idea of how a broker might operate.
We checked and found that the broker offers four types of accounts.
Deposit and Withdrawal Options for VeronicaFX
Because the ultimate goal of trading is to make a profit, withdrawals and deposits are the most important transactions. This section will examine these options to ensure everything is in order.
Wire Transfers, Credit/Debit Cards, Wire Transfers Skrill, Neteller and PerfectMoney.
Keep in mind that bonus promotions may also have withdrawal restrictions. To be eligible for withdrawal, some brokers are fraudulent and require traders to trade at a certain volume. This is done to prevent traders from withdrawing.
Is VeronicaFX Licensed?
Another important aspect is licensing. We can trust that a broker licensed will not do anything fraudulent. This part of the review begins with checking the name attached to the broker. We then run this name through different regulatory bodies to determine if it regulates brokerages.
We had to verify the broker’s license status by checking several regulatory agencies. We checked the ASIC in Australia, the FCA in the UK and CySEC in Cyprus. We didn’t find any license information for this broker at the end of our search.
Find out if a regulatory body has licensed a broker. Traders should verify regulatory bodies like the FCA in the UK and ASIC in Australia. CySEC is Cyprus. BaFin in Germany. CONSOB in Italy.
You can read our review of GrandeFX trading, Cache Coin and AximTrade to get a better idea of the work of brokers (both licensed or unlicensed).
Trade with TOP-RATED BROKERS instead
Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Worldwide Acceptance of Traders
Minimum Trade Deposit $100
Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Worldwide Acceptance of Traders
Minimum Trade Deposit $100
Licensed in Australia(ASIC) and Cyprus(Cysec)
Worldwide Acceptance of Traders
Minimum Trade Deposit $100WordPress Pricing Table Plugin
Conclusion
We found many claims made by this broker were either unverifiable or false. We are unable to confirm their location. There is also a lack transparency when depositing funds as well as a confusing and unexplained withdrawal process. We do not recommend that you invest with this broker. Any attempts to do so will result in the loss of your funds.
