Are you ready to hear about one of the most dubious brokers out there? Let us introduce you to VastWealth, a platform that claims to be the starting point for wise and planned investments. However, after digging deep into their practices and reading multiple reviews, it seems that it’s just another scam lurking in the shadows of the investment world.
Table of Contents
Highlights
| 🏛️ Country | St. Vincent and the Grenadines |
| ⚠️ Regulation | — |
| 🖥️ Website | https://www.vastwealth.io/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2022 |
| 💲 Minimum Deposit | $5,000 |
| ⚖️ Minimum and Maximum Leverage | 1:100-1:400 |
| ⚙️ Trading Platform | WebTrader |
| support@vastwealth.io | |
| 📞 Phone | +447418354570 |
First Impression of Vastwealth.io
We were not particularly impressed with the official website of VastWealth. As reviewers, we come across dozens of similar websites every day, and it’s rare to see a broker invest in a truly unique and original design. Unfortunately, VastWealth did not stand out in this regard. The website uses a standard template and is filled with excessive self-promotion. There is also a lack of valuable information about the company, and the team remains completely anonymous. The only sections that provide useful information are the descriptions of the trading accounts and the footer containing legal information.
Partnership and Bonuses
The registration process suggests that there might be a referral program, as customers are asked to enter a promo code. However, the website lacks any detailed information about this program. Despite this, the company does provide bonuses, but the exact size of them is not specified either. It seems that customers are expected to guess for themselves.
Account Opening on Vastwealth.io
The registration process on VastWealth is quick and simple. Unlike regulated brokers, the platform doesn’t require users to provide detailed information about their income or trading experience. In fact, VastWealth doesn’t even verify if the user’s email and phone number are up-to-date. After filling out a small form, you gain access to your Personal Area. However, there is a major caveat to this process: you will need a promo code to create an account. Without an invitation, you cannot register on the platform. This requirement raises questions about the transparency and reliability of VastWealth. It’s unclear why the platform restricts access to potential customers interested in its services.
Verification
To deposit funds into your account with VastWealth, you will need to complete the standard verification process. This includes providing copies of your identification documents, proof of residence, and evidence that your funds are legitimate.
- An extra layer of security to your account.
- There’s no access to the Client Portal.
Trading Software
VastWealth boasts of its supposedly innovative platform, but we couldn’t find any groundbreaking features to back up this claim. To make matters worse, some traders have reported that the broker only offers a web terminal, not even a popular one at that.
| Features | VastWealth | Virgobanc | StockHome |
|---|---|---|---|
| Demo Account | ❌️ | ❌ | ✔️ |
| Mobile App | ❌ | ❌ | ❌ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With VastWealth?
Although VastWealth boasts about its cutting-edge technology and innovative platform, in reality, it offers services that are quite similar to other CFD brokers in the market.
All Info About Accounts
The account types offered by the broker seem to be more of a formality than a meaningful choice for traders. Despite the different minimum deposits and leverage ratios, there are hardly any differences between them. The fact that VastWealth offers such a high leverage of up to 1:400 is not only pointless but also dangerous. It is alarming that the broker doesn’t provide any additional conditions or requirements for such high leverage. Besides, it’s concerning that they seem to be encouraging traders to engage in reckless behavior. Professional traders know that high leverage is not necessary for successful trading and can actually be a recipe for disaster. It’s disappointing to see a broker using such a tactic to lure in unsuspecting customers.
- None.
- High leverage.
- High minimum deposit.
Market Analysis and Education With Vastwealth.io
The broker offers some basic education to its clients, but when it comes to market analysis, the platform is completely anonymous and closed. Perhaps some active clients are offered something similar, but we would not recommend relying too much on such forecasts. It is important to remember that anonymous and closed market analysis can be unreliable and potentially misleading.
Deposit, Withdrawal, and Fees
VastWealth provides various options for depositing funds into your trading account, but the broker does not provide any details about these methods. While wire transfer is definitely offered, it’s unclear what other payment methods are available. The company claims to provide alternative payment options in case a customer’s preferred method is not available. However, again, no specific details are given. Additionally, the broker states that there are restrictions on withdrawals, including daily, monthly, and yearly limits. At the same time, it fails to specify the exact amount of these limits in their documents.
| Features | VastWealth | InternationalReserve | Axi |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ✔️ | ✔️ | ❌ |
| Crypto Transfers | ✔️ | ❌ | ✔️ |
| Deposit Fee | ✔️ | ❌ | ❌ |
| Withdrawal Fee | ✔️ | ❌ | ❌ |
How Can I Contact It?
One way to contact the broker is through a phone number or email address provided by the company. However, there is no physical office for the broker, which may indicate that it is registered offshore through intermediaries. This lack of a physical location means that clients should not expect to meet with the manager in person.
- Full contact details.
- Contacting the broker through email or phone can be difficult.
Is VastWealth Dangerous?
We have some concerns about the offers made by VastWealth. The broker demands a minimum deposit of 5 thousand dollars, which seems excessive considering that the company does not offer any exclusive services. This practice is not typical of honest brokers in the market.
How Long Does The Broker Work?
Upon reviewing the registry, we found that Vallencio LLC, the parent company of VastWealth, was only registered at the end of 2021. Even more concerning, we discovered that the website was only created on August 17, 2022, indicating that the broker has only been operating for a few months. Such a short period of existence raises questions about the broker’s experience and stability.
How Is VastWealth Regulated?
The Terms and Conditions state that the broker’s management company is Vallencio LLC, which is registered offshore in Saint Vincent and the Grenadines. This is considered one of the worst places to register a brokerage company because the FSA regulator, which operates on these islands, does not monitor the activities of online brokers. Instead of issuing licenses, they only provide certificates of incorporation, allowing such companies to operate without adequate supervision. This lack of regulation makes it easier for scammers, who have official registrations, to manipulate traders’ accounts without any accountability.
| Features | VastWealth | InternationalReserve | RiveGarde |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With VastWealth?
Is VastWealth Legit?
How Risky Is It?
Kevin Berry Let me tell you, trading with VastWealth is not a smooth thing at all. The only argument against this broker is the minimum deposit they require, which is enough to make even Scrooge McDuck think twice. And don’t even think about a demo account to try out your strategy, because VastWealth is all about throwing you in the deep end and seeing if you can swim. If you ask me, it’s more like VastScam.
VastWealth rating
3 reviews about VastWealth
It is disappointing to see that some companies still prioritize profits over customer satisfaction. VastWealth appears to be one of these companies, as they require high deposits to access training materials and news. In addition, their customer service leaves much to be desired. All in all, I was disappointed with my experience with this broker.
It is an ordinary broker with nothing unique to offer. They do not stand out from other companies in any particular way. Their trading conditions are standard, and they do not offer any additional features such as cent accounts, demo accounts, investment solutions, or loyalty programs. While they may not be a scam, I would not choose to trade with them.
This broker cannot be trusted, as they engage in fraudulent activities. Numerous traders report not being able to withdraw their funds, and some even claim to have lost their entire deposit. The company has a high minimum deposit requirement, making it all the more disappointing for those who have saved up for a long time to invest.