WikiFX Visited Fraudulent Forex Broker VTGFX

WikiFX recently visited VTGFX, a Forex broker with a poor WikiFX rating of 1.68, in order to investigate its “license office”.

VTGFX claimed on its website that it holds an STP license from CYSEC(Cyprus), with a license number of 107/09.

VTGFXs information from WikiFX App

Upon investigation, WikiFX found the following information about license number 107/09 on CYSEC(Cyprus Securities and Exchange Commission)s website:

Regulatory information of license 107/09 from CYSEC

According to CYSECs website, the holder of license 107/09 is “TTCM Traders Trust Capital Markets Ltd”, not VTGFX. Following the reveal of this suspect information, we paid a visit to the address from the regulatory information to see whether it is truly the office location of VTGFX as the broker has claimed.

The WikiFX team arrived at VTGFXs alleged office location at 56, Theodorou Potamianou, APHRODITE COMPLEX, 4th Floor, Kato Polemidia, CY-4155 Limassol.

Street view of Theodorou Potamianou

Having found the striking logo of “APHRODITE COMPLEX” on the building at 56, Theodorou Potamiano street, we entered the complex in hopes of finding VTGFX.

Floor directory of the building

After checking the floor directory, we did not find VTGFX but rather found TTCM, the holder of license 107/09 according to CYSEC regulatory information.

We got to the fourth floor to check if the broker VTGFX was located in the building. However, we failed to find any other Forex brokers on this floor besides TTCM. Conversation with TTCM staff also supported our conclusion: VTGFX is not located at the address as its website claimed.

In addition, TTCMs customer service also confirmed that VTGFX is not related to TTCM.

Conversation with TTCM customer service

After investigation, we can confirm that VTGFX is operating under a cloned license, as the broker‘s office can’t be found at the alleged address from VTGFXs website. Information from TTCM, the real holder of the license, also supports this conclusion.

VTGFXs interface from WikiFX App

VTGFXs MT4/5 verification from WikiFX App

WikiFX App suggests that VTGFX, rated at 1.68 on WikiFX, cloned the license of TTFM and uses white-label software with server set in Japan. Investors need to beware of the risk and stay away from the broker.

Conclusion

After their visit, WikiFX confirms that VTGFX is a cloned-license broker without valid regulation or a verifiable office address. We advise investors to stay away from it.

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Brokers interface from WikiFX

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