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Vertexfy Review | A Mission to Change the Approach to Trading Worldwide or Scam?

by Kevin Berry
Rating: 
  1.3/5   Reviews: 3
Vertexfy - logo

The brokerage company Vertexfy claims to be on a mission to change the approach to trading worldwide. They purportedly offer a revolutionary platform with advanced tools, coupled with beneficial terms and educational resources for clients. However, the firm barely shares any details about itself or its activities, and licenses are completely missing. Online reviews are scarce, indicating the broker isn’t particularly popular among traders. Let’s delve deeper to determine whether we can trust this organization with money or if it’s best to steer clear, suspecting it might be a scam.

Highlights

🏛️ Country St. Vincent and the Grenadines
⚠️ Regulation SVGFSA
🖥️ Website https://www.vertexfy.com/#/
🎲 Demo Account Yes
⏳ Start Time 2022
💲 Minimum Deposit
⚖️ Minimum and Maximum Leverage 1:100
⚙️ Trading Platform WebTrader
📨 E-mail support@vertexfy.net
📞 Phone

First Impression of Vertexfy.com

The official website is designed in turquoise and white tones, devoid of any graphics or visual effects. It’s quite dull, generic, and unremarkable. Vertexfy hasn’t invested in creating a quality, informative resource, but rather seems to have presented a semblance of an official site without specifics, details, or crucial information. For instance, the “about us” section lacks the company’s foundation date, acquired licenses, or an explanation of the firm’s business model.

Vertexfy - site

Vertexfy’s main page is overloaded with details about the trading platform. At times, it appears the only aspect you can learn about the broker is its terminal. The top panel comprises standard sections: account types, additional tools, company introduction, asset classes, platform, and legal documents. Notably, registration documents and financial reports are not provided.

Partnership and Bonuses

The broker on the official website does not mention the affiliate program and bonus promotions. However, when creating an account, there’s a field labeled “promo code.” It indicates that there indeed is an affiliate program here, but its terms are not specified. It’s also odd to see that in firms like Vertexfy, bonuses are missing since they’re a favored tool to attract novice traders who don’t understand how these bonuses function.

Account Opening on Vertexfy.com

To start trading, one needs to register an account. Doing this is quite straightforward. Vertexfy requires users to provide their name, and contact details, create a password, enter a promo code (if available), and finally agree to the terms and various policies.

Registration

Subsequently, a personal dashboard opens, which is essentially embedded in the trading platform. It’s noteworthy that Vertexfy didn’t ask to verify the provided email and phone number. Therefore, right after registration, one can immediately begin testing the service on a free demo account or proceed to deposit funds. However, before doing so, identity verification is necessary, which we’ll cover in the next section.

Vertexfy - dashboard

Within the personal cabinet, clients can edit their personal data, upload documents, view transaction and transfer history, and manage accounts, but to have full functionality, additional details such as residential address and date of birth need to be provided. Overall, Vertexfy offers a rudimentary dashboard with just the essential options.

Verification

One cannot go through the verification process in advance. In the section where you need to upload documents for KYC, there’s a message stating “No action is required at this point”. When trying to deposit funds, the system alerts that a manager will soon contact you. Apparently, before undergoing verification and depositing funds, one needs to converse with a Vertexfy representative.

The broker has a document on its website describing the KYC procedure. The company requires a standard set of documents to identify the client’s identity.

Pros
  • None.
Cons
  • It is necessary to talk to a manager first.
  • Additional documents may be required.

Trading Software

Vertexfy dedicates a lot of attention to its trading platform. It’s mentioned almost in every paragraph on the company’s official website. The broker promotes the terminal as if it’s the best trading software in the world, supposedly the most convenient, the most advanced, and the simplest to learn and understand. However, upon accessing WebTrader, we see a typical and rudimentary terminal that definitely cannot be dubbed the best or advanced.

Terminal

The firm not only offers the basic WebTrader but also MetaTrader 4. At least, this is stated in the terms. However, we couldn’t find an option to download MetaTrader onto a computer or phone or open it in a browser. The site has AppStore/Play Market icons, but they don’t lead to pages where you can explore the smartphone application. There’s a suspicion that Vertexfy mentions MetaTrader 4 purely for advertising purposes. As if to say, “Look, we offer you not only a basic and low-functional platform but also the popular and renowned MetaTrader”.

The trading software presented to us is evidently limited in its capabilities. Traders have access to basic functions: technical analysis, indicators, pending orders, several timeframes, and a few types of charts. Vertexfy misleads users when talking about the advantages and virtues of the terminal. There isn’t even an application for Android/iOS.

Features Vertexfy NordEquity Tradercr
Demo Account ✔️
Mobile App
Own Development

How Can I Trade With Vertexfy?

The company offers trading exclusively in CFDs, with no spot or futures assets available. Supported market classes include forex, metals, indices, commodities, cryptocurrencies, and stocks. The conditions depend on the selected account type. Next, we will look at the broker’s tariff plans.

All Info About Accounts

Vertexfy offers only 3 types of accounts:

  1. Standard. Floating spreads, there is a commission for transactions, leverage is limited to 1:30, and the minimum transaction volume is 0.1 lots.
  2. Premium. Leverage is extended, but the specific figure is not specified. Volumes from 0.01 lots. Commissions are zero.
  3. VIP. It differs from the previous tariffs in that the spreads are of the fixed type 1.4 pips.

In addition, all clients have access to technical support and a dedicated account manager. There are two account currencies to choose from: EUR or GBP.

Account types

The trading conditions at Vertexfy are quite odd. Firstly, for some reason, the minimum deposit amount is not specified. Overall, the broker doesn’t disclose many details, making it highly opaque. For instance, the size of the commissions is also concealed, and contract specifications, which could show the current floating spreads, are absent. Secondly, why is there such a low leverage for the first tariff but a high minimum lot size? It would be much more convenient for traders to trade with lots from 0.01 and with a higher leverage, at least 1:100. It seems that those who devised the conditions at Vertexfy have never traded forex and don’t understand the terms to offer.

Opacity and concealment, it can confidently be said about Vertexfy. Many parameters are ignored. The swap-free feature, meaning an Islamic account, is not offered. At least they have a demo account; that’s the broker’s only plus point.

Pros
  • There’s a demo account.
Cons
  • Many terms and conditions are not specified.
  • Islamic account is missing.

Market Analysis and Education With Vertexfy.com

Clients can access basic information about the traded asset classes, and there’s also a glossary, FAQ, and a trading academy. Additionally, within the documents, there is a section dedicated to PAMM accounts, hinting at the presence of a PAMM service. However, we didn’t see such functionality in Vertexfy. No other auxiliary widgets and tools are available, such as recent analytics, an economic calendar, or a calculator.

Deposit, Withdrawal and Fees

Oddly, information regarding deposit and withdrawal methods is missing. Therefore, it’s unclear what fees are charged for financial operations and which methods can be used to deposit funds. In the personal cabinet, we couldn’t identify the supported payment systems either, as it is necessary to contact a manager first.

Features Vertexfy Infinity Markets ToroProfit
Debit/Credit Cards ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers
Deposit Fee ✔️ ✔️
Withdrawal Fee ✔️ ✔️

How Can I Contact It?

Vertexfy doesn’t even have a contacts section. One can communicate with the managers via an online chat on the website, where responses are sent to the specified email, so getting an immediate answer is not possible. Phone numbers and social media accounts are absent. And we found the broker’s email from third-party sources.

Pros
  • None.
Cons
  • There’s no phone.

Is Vertexfy Dangerous?

In reality, there should be no lingering doubts. There’s a high likelihood that Vertexfy is a fraudulent organization because the company is opaque, anonymous, and conceals most terms and vital information. It is essential to ascertain the duration of operation and licenses before drawing any conclusions.

How Long Does The Broker Work?

Like any deceptive firm, Vertexfy doesn’t even mention its founding date. Reviews online are sparse, hinting at the company’s short operating duration. The domain was registered in December 2022. Indeed, that’s when the platform was launched. This happened less than a year ago.

Domain

How Is Vertexfy Regulated?

As stated in the user agreement, the company operates under the laws of the offshore jurisdiction of Saint Vincent and the Grenadines. Meanwhile, the website and brand belong to Pergame Solution LLC. Thus, to verify the licenses and legal status of Vertexfy, one must check the SVGFSA registry.

Vertexfy - SVGFSA

Indeed, such an organization was indeed registered in 2022 in Saint Vincent and the Grenadines. However, from the perspective of safety and reliability for traders, this has no significance. Vertexfy is an offshore firm that does not have branches in other jurisdictions and also does not possess licenses from other regulators. SVGFSA does not perform the functions of a supervisory body, so if the broker deceives you and refuses to withdraw funds, the SVG financial commission won’t be able to help. Therefore, this is more of a drawback rather than a benefit.

Features Vertexfy IC Markets FTM Trade
European Zone ✔️
Asian Zone
American Zone
African Zone
Offshore ✔️ ✔️

Frequently Asked Questions (FAQ)

How to Trade With Vertexfy?

First, you need to register an account, providing your name and contact details. Then, in the personal cabinet, you should specify your residence address, date of birth, and country. After that, the company requires contacting a manager. Presumably, after that, there will be an opportunity to make a deposit. By the way, you can try out a demo account for free.

Is Vertexfy Legit?

The firm operates in an offshore jurisdiction and doesn't possess any significant licenses.

How Risky Is It?

The broker is risky for traders because it's based in Saint Vincent and the Grenadines. This location has a reputation as a favorite spot for fraudulent companies. Trading with Vertexfy is highly risky.
Kevin Berry
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Expert Opinion

The company immediately struck me as fraudulent because it conceals essential details such as its operational duration, licenses, specific legal address, phone number, and trading conditions. Can a verified and honest broker operate this way? Certainly not. Vertexfy lacks licenses, has been in operation for less than a year, and offers no security guarantees. The firm even deceives people about its trading platform. What about MetaTrader? There’s no MetaTrader here. The scammers claimed to offer this renowned and popular software, but in reality, the platform here is rudimentary and offers minimal features. It’s not even viable for serious trading. In short, it’s a plain scam.

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Vertexfy 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

3 reviews about Vertexfy

Speed Car September 28, 2023 - 02:12
How do I get my money back?
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Scammers are refusing to let me withdraw my money. $1000 is stuck in this scam and fraud company. How can I get my money back? Moreover, I found several reviews where people also describe how they were deceived and had their money taken. I too fell victim to this scam, please help me get my money back. Has anyone else dealt with Vertexfy? Is it really possible to retrieve the money?

Reply
Jury October 1, 2023 - 19:49
Potential scam
The level of trust
Quick withdrawal of funds

There are too few reviews on the internet about the broker, so it can’t be said that it’s a well-known, popular, and long-standing brokerage firm. On the contrary, it’s a young broker, with a high likelihood of being a scam. Where are the licenses? Where are the offices in various jurisdictions? Where are the registration documents? Zero guarantees. Vertexfy is potentially a scam, which means trading here is fake. Therefore, one shouldn’t venture here.

Reply
Andy Joe October 4, 2023 - 13:22
Gave up the scam
Efficiency of technical support

The scammers tried to persuade me to deposit money. However, I consulted with an experienced trader, and he told me that Vertexfy is a fraudulent company that has created a fake platform to scam people out of their money. The fraud scheme here is very simple: a trader deposits money and then can’t withdraw it. That’s it. The entire scam revolves around this. Is it wise to invest here? Absolutely not. So, I dismissed the swindlers and found myself another broker, not a scambroker, but a secure one – with licenses and an operational history of over 20 years.

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