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FiatVisions Review | The Winner of Several Awards in Trader Services or a Scam?

by Kevin Berry
Rating: 
  1.2/5   Reviews: 6
FiatVisions - logo

Meet FiatVisions, an international CFD broker that has won several awards in trader services. The company is based in Comoros and is regulated by the MISA financial commission. There are many positive reviews about the firm online, which raises suspicions. Our task is to dissect this organization thoroughly to determine if it’s a scam or truly a safe, beneficial, and top-tier platform for Forex/CFD trading.

Highlights

🏛️ Country Comoros
⚠️ Regulation MISA
🖥️ Website https://fiatvisions.com/
🎲 Demo Account No
⏳ Start Time 2021
💲 Minimum Deposit $5,000
⚖️ Minimum and Maximum Leverage 1:1-1:200
⚙️ Trading Platform WebTrader
📨 E-mail info@fiatvisions.com
📞 Phone +18009721281

First Impression of Fiatvisions.com

The official website is the first thing a potential client encounters with any broker. Thus, every firm aims to create an informative, useful, and aesthetically pleasing resource to entice users to continue exploring the terms and information about the company. However, this cannot be said about FiatVisions’ website. Yes, their site differs from other brokers, but it’s poorly designed and lacks adequate information. It’s translated into several languages except for English, but the translation is machine-generated, not human. Moreover, the translation is incomplete. When switching the site to Russian, some text blocks remain in English.

FiatVisions - site

At the top, there’s a standard panel with sections about the platform, account types, terms, contacts, and other trading-related topics. The homepage is filled with their boasted advantages and awards. Much of the text is stuffed with meaningless phrases and overused clichés. FiatVisions seemingly tried to create something unique and captivating, but the result was terrible. There are errors, for instance, social media icons are displayed, but clicking on them redirects you back to the homepage.

Partnership and Bonuses

The broker offers deposit bonuses. At least, such an opportunity is mentioned in the user agreement. The affiliate program is not mentioned on the official FiatVisions website; however, when creating an account, you can enter a promo code, which hints at the presence of an affiliate program.

Account Opening on Fiatvisions.com

The account creation process is not limited to just providing a full name and contact information. FiatVisions also requires you to state your residence address, date of birth, and account currency (USD/EUR). Additionally, you must agree to their terms and affirm you’re not a U.S. citizen.

Registration

We couldn’t create an account because after entering the information, an error pops up saying “Oops. There seems to be an error”. The online chat manager apparently didn’t understand the issue and couldn’t assist. The representative merely advised us to contact them via email. The lack of customer-centricity is evident right from the start. By the way, attempts to input different data were also unsuccessful. For unknown reasons, it’s impossible to create an account with FiatVisions.

Error

Verification

The broker requires identity verification for every client, meaning it’s a mandatory procedure. The purpose of KYC, the required documents, and other details are described in a separate document dedicated to the AML&KYC policy. FiatVisions demands standard documents to confirm identity and residence, and also to verify the ownership of a bank card if it’s used for depositing funds.

Pros
  • None.
Cons
  • Requires you to take a picture of your bank card.

Trading Software

FiatVisions claims its trading platform as the best, especially for beginners. Well, the company has the right to label its terminal as such, however, one shouldn’t entirely trust what’s written on the site. Brokers often inflate ratings and only highlight the positives, and they’re prone to exaggeration or falsehoods. Trusting the company’s self-description of its platform isn’t advisable. However, we have no other choice, since we couldn’t create an account, so we must rely on the site’s description.

The trading terminal is available as WebTrader, Desktop, and Mobile Trader. However, there are no links to download the app from official stores like the AppStore or Play Market. The platform supports trading without requotes, allows the use of both market and pending orders, technical analysis, and indicators. A demo account is not mentioned at all on the website.

Features FiatVisions GensMarkets Any Coin Capital
Demo Account
Mobile App ✔️
Own Development

How Can I Trade With FiatVisions?

The firm allows clients to trade currency pairs, commodities, metals, indices, stocks, and cryptocurrencies. There are no spot or futures assets, only CFDs. Using leverage up to 1:200 is available to increase volumes, and they offer floating spreads. The minimum deposit and additional services in FiatVisions depend on the tariff plan, which we will consider further.

All Info About Accounts

The broker offers five types of accounts with substantial minimum deposit amounts. The very first tariff, tailored for beginners, requires a starting deposit of $5,000, which seems like an excessive amount. Meanwhile, many popular and well-known platforms allow trading to start at just $10. It’s unclear why FiatVisions has such steep requirements. The only service that beginners, i.e., owners of the first tariff, receive is working with a personal manager. It seems rather meager for such a significant sum.

Account types

The second type of account with FiatVisions kicks off with a deposit of $25,000 and differs from the previous one only in providing daily technical analysis signals. The third tier demands a hefty $100,000 but grants access to an academy. Even more amusing, the broker labels the first three accounts as “just starting”, while the last two are categorized as the “next level”. It would be intriguing to see beginners willing to invest up to $100,000 in an unfamiliar broker. Analyzing the fourth and fifth tiers seems pointless as the deposit requirements are ludicrously unrealistic: starting from $250,000 and escalating to a staggering 1 million dollars.

It’s doubtful there are many willing to invest such sums. The company isn’t renowned or popular enough to set such terms. Moreover, they keep the specifics of commissions and spreads under wraps. While an Islamic account type is available, options to try the service with minimal amounts or virtual funds are conspicuously absent.

Pros
  • None.
Cons
  • The minimum deposit is too high.
  • There is no demo account.
  • Important terms and conditions are not disclosed.

Market Analysis and Education With Fiatvisions.com

Most of the additional services and features are available only with substantial investments, rendering their examination and study pointless. However, there are also free widgets and tools available to everyone. For instance, FiatVisions offers financial news videos on the homepage of its website, world stock exchange operating hours, and a service with futures expiration dates.

Deposit, Withdrawal, and Fees

A dedicated section focusing on deposits and withdrawals is missing. It’s known that FiatVisions definitely accepts Visa/Mastercard and bank transfers, as they request a photo of it during verification, and bank transfers are mentioned in the user agreement. The processing time for withdrawal requests ranges from 1 to 7 business days, but the fees associated remain undisclosed.

Features FiatVisions Palmer Finance Company  Squire’s Finance Limited
Debit/Credit Cards ✔️️ ✔️️ ✔️
Electronic Payments ❌️ ❌️ ❌️
Crypto Transfers ❌️ ❌️ ✔️
Deposit Fee ❌️ ❌️ ❌️
Withdrawal Fee ❌️ ✔️️ ❌️

How Can I Contact It?

FiatVisions provides an email and a phone number for communication with its managers. There’s also a live chat where a representative responds promptly, but the quality of their assistance is questionable. While there are social media icons present, actual accounts are nonexistent. Interestingly, the provided phone number starts with “+1”, the area code for the USA. Furthermore, a check revealed that the number is not available.

Phone number

Pros
  • None.
Cons
  • There are no social media accounts.
  • Managers in online chat answer in a formulaic way, transfer to email.

Is FiatVisions Dangerous?

At this stage of the review, the company raises suspicions. Many details are missing, account registration is impossible, and the conditions seem unrealistic. What other red flags does FiatVisions exhibit? Let’s now delve into the company’s actual operational duration and its licenses.

How Long Does The Broker Work?

The organization doesn’t state its founding date on its official website, which is a significant drawback. Moreover, there are no visible registration documents. Thus, a website’s domain might provide a clue about its inception. It was registered in March 2021.

Domain

How Is FiatVisions Regulated?

Now, we arrive at a crucial aspect – how is the organization regulated? The firm provides a legal address on the island of Moheli, a jurisdiction of the Comoros Islands, where the MISA regulator reigns supreme. FiatVisions claims its legal entity is named Global Invest Ltd, which is indeed listed on MISA’s registry, implying it is licensed. However, one shouldn’t be too quick to celebrate. Holding such a license doesn’t confer any privileges or guarantees. If you aren’t a resident of the Comoros Islands, the MISA regulation makes little sense. The broker could deceive you at any point, and the financial commission would be powerless. Moreover, there’s no assurance that FiatVisions genuinely belongs to Global Invest Ltd. Fraudsters could easily attribute this legal entity as their own.

FiatVisions - MISA

While verifying the license, we unearthed several intriguing details about FiatVisions. For instance, it previously listed registration addresses in Mauritius and St. Vincent and the Grenadines. Now, it’s Comoros. What’s next? Vanuatu, the Commonwealth of Dominica, the Marshall Islands? It seems scammers hop from one address to another. Furthermore, the British regulator, the FCA, cautions traders about the risks associated with FiatVisions. This is a compelling argument against trading with them.

Features FiatVisions Modus UK Limited  General Trust Group
European Zone ❌️ ❌️ ❌️
Asian Zone ❌️ ❌️ ❌️
American Zone ❌️ ❌️ ❌️
African Zone ❌️ ❌️ ❌️
Offshore ✔️️ ❌️ ❌️

Frequently Asked Questions (FAQ)

How to Trade With FiatVisions?

One needs to create an account by providing personal details, including phone number, email, and residential address. However, at the time of writing this review, the registration process displays an error, making it impossible to create an account.

Is FiatVisions Legit?

The offshore financial commission MISA oversees the firm. It is not a serious regulation since such a regulator won't assist in recovering funds in case of company fraud.

How Risky Is It?

Trading with offshore brokers that have only been operational for a couple of years is risky. FiatVisions poses a 100% risk of losing money.
Kevin Berry
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Expert Opinion

Clearly, investing in FiatVisions is out of the question. Why? Simply because it’s a dirty offshore broker that would gladly take your money and then refuse to withdraw it. Scammers consistently post positive reviews about themselves, but you can’t trust them since they’re fake. I advise keeping as far away as possible from such dodgy offshore entities, especially those demanding a minimum deposit of $5,000. Who do these fraudsters think they are? Who are you to demand such hefty minimum amounts? Even established firms that have operated under the most reliable licenses for 10-20 years offer trading starting at $10. In short, it’s a scam.

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FiatVisions rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

6 reviews about FiatVisions

Alex Future September 5, 2023 - 22:04
You're gonna lose money here
Quick withdrawal of funds

There’s nothing worse than losing money to a scam broker. Steer clear of this dirty offshore parody of a broker, and you’ll be fine.

Reply
GetMon September 14, 2023 - 10:46
Typical scammers
The level of trust
Quick withdrawal of funds

Scammers – that’s the only way I can describe this brokerage firm. FiatVisions.com should be on your blacklist. It’s not a place to trade, as it’s a fake platform.

Reply
Hey Now September 27, 2023 - 19:12
Positive reviews are fake
The level of trust

Where do these positive reviews about FiatVisions come from? Who are these people praising an overtly fraudulent company? Most likely, these are all fake positive reviews, as I can’t find any other explanation. I genuinely can’t fathom how a scam broker and a blatant fraud project like this can garner positive reviews.

Reply
Ivan Dreko October 2, 2023 - 01:49
I lost a lot of money here in 2022
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I’ve had an unfortunate experience with the scambroker, FiatVisions. Back in 2022, I attempted to trade with them but lost a significant portion of my funds. They didn’t even refund the remaining deposit. These scammers simply ceased communicating, and that was it. Later, my personal account was conveniently locked. I lost several thousand dollars to this fake broker. I never want to experience such a situation again. If you don’t want to go through the same, seek a safe and verified brokerage partner.

Reply
Dyl November 21, 2023 - 05:47

What do you mean they locked your personal account? your bank account?

Reply
BTC October 2, 2023 - 12:33
Please hear me. Don't invest here!
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Friends, fellow traders, please don’t believe what FiatVisions tells and advertises. It’s a fraudulent entity pretending to be a secure platform. In reality, there’s no safety here, no reliability, no guarantees. It’s all fake, pure unadulterated falsehood. Scammers have concocted this scam to prey on trusting individuals, and seemingly, they’re succeeding quite well. Given that this fraud project has been in operation since 2021. Moreover, from a legal standpoint, the company keeps shifting offices – one moment in one offshore location, the next in another. I hope you heed my warning and choose not to invest in FiatVisions.

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