VIP Crypto Review
The cryptocurrencies brokerage provider VIP Crypto has four different trading accounts. The trading spreads are high and maximum leverages provided are not specified on the official website. The broker accepts fiat currencies and converts them to cryptocurrencies for CFDs trading. The cryptocurrencies broker is operational from the United Kingdom. So far, everything looks good about this VIP Crypto. However, the broker is not correctly regulated. In this VIP Crypto review, we will talk about everything necessary to know about this broker.
About VIP Crypto:
We believe in formulating unbiased and sensible review, and for that, we will discuss all the possible advantages and disadvantages of VIP Crypto.
The broker allows trading of 9 major crypto coins against United State Dollars, Euro, and Great Britain Pounds. Also, 30 plus other exotic cryptocurrencies can be traded against Bitcoins. It provides a diversified product portfolio that minimizes trading risk. Another possible benefit is a wide variety of money deposition methods. They include bank transfer, cards, Neteller, Skrill, and Bitcoin.
VIP Crypto is managed by FX Wilkinson Europe LTD situated in London, United Kingdom. The local financial watchdog Financial Conduct Authority must regulate the brokers operating from the UK. Unfortunately, the financial conduct authority does not overseas the operation of VIP Crypto, and it is an unregulated broker.
The presentation of trading assets and the condition is very confusing and weak and does not make any sense. The spreads on BTCUSD crypto-fx pair are fixed at 100 USD or 1.45% of BTC. This spread is higher than the market average and increases trading costs.
The broker provides some basic trading platform instead of MetaTrader. It will no be acceptable by most of the brokers. Also, no free demo account is provided, and we could not test the provided trading platform. The broker offers trading only on the cryptocurrencies and other trading assets like foreign exchange pairs, commodities, stocks, are not available to trade. It is yet another negative aspect of VIP Crypto.
Is VIP Crypto scam or legit?
The broker is not regulated, and trading conditions are not feasible to most of the traders. The broker provides a useless trading platform. The initial deposit is more than expected. In our view, the broker VIP Crypto is a potential scam cryptocurrency broker. Avoid it to safeguard savings.