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Virgobanc Review | The Way To Empower Your Financial Future or a Scam?

by Kevin Berry
Rating: 
  1.7/5   Reviews: 3
Virgobanc - logo

Looking for a broker to help empower your financial future? Unfortunately, Virgobanc is not the solution. In this review, we will expose the truth behind their promises. If you are considering investing with this company, be warned: our investigation has uncovered evidence of potential scams and fraudulent activity. Read on to learn more.

Highlights

🏛️ Country Switzerland
⚠️ Regulation
🖥️ Website https://virgobanc.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit €250
⚖️ Minimum and Maximum Leverage 1:10-1:50
⚙️ Trading Platform WebTrader
📨 E-mail support@virgobanc.com
📞 Phone
  • +44 2034 792008
  • +61 2 8488 8920
  • +34 915 467 816

First Impression of Virgobanc.com

The official website leaves a mixed impression. On one hand, you will find pictures of happy people who have achieved financial stability and success, and even reviews from satisfied traders. Let’s be real. Does anyone actually take reviews on a broker’s website seriously these days?

Virgobanc - website

On the other hand, we noticed a lot of self-promotion and, even better, a bunch of absurdities. Have you ever come across an exchange where you can trade stocks, commodities, and cryptocurrencies all at once? Experts may argue that it’s the Chicago Exchange, but they would be wrong. At that exchange, you can only trade futures contracts on crypto.

Meanwhile, Virgobanc is supposed to be a broker, not an exchange, yet they claim to have all of the assets mentioned above. We’ll come back to this, but for now, the website failed to impress us. And let’s not even get started on the scam and review aspects.

Partnership and Bonuses

The registration form subtly hints at the existence of a referral program. Customers are prompted to enter a promo code, but there are no detailed explanations of the program on the website. However, the company certainly offers bonuses ranging from 25% to 100% depending on the amount of money deposited.

Account Opening on Virgobanc.com

The registration process at Virgobanc left us disappointed. We were required to enter a promo code just to create an account. Without it, you won’t be able to access the Client Portal. It seems we are trying to get into a secret society, only instead of secret knowledge, we get to trade financial instruments. Honestly, we were hoping for a more straightforward registration process, but we guess Virgobanc wanted to make us work for it. Maybe next time they can ask for a secret handshake too.

Registration

Verification

At Virgobanc, verification is mandatory before you can fully access your account. While we haven’t personally experienced the verification process, it’s safe to assume that it follows the standard procedure that most brokers use. This typically involves providing personal information and uploading identity documents such as a passport or driver’s license. While we understand the importance of security and regulatory compliance, it can still be a tedious process. We hope that the verification process is a smooth one, but it’s definitely not the most exciting part of trading.

Pros
  • The broker follows KYC.
Cons
  • No access to the Client Portal.

Trading Software

It’s worth noting that there is no mention of the platform on the Virgobanc website. This is a major red flag for potential clients as the platform is the main tool used for trading and investing. Without information about the platform or a demo, at least, it’s impossible to evaluate its features, reliability, and user-friendliness. This lack of transparency can lead to hesitation and mistrust from clients, which is not a good sign for a brokerage firm. It’s essential for a brokerage firm to provide clear and comprehensive information about the trading platform, as it’s a key factor.

Features Virgobanc CIX Markets Gainful Markets
Demo Account ✔️
Mobile App ✔️
Own Development ✔️

How Can I Trade With Virgobanc?

So, you probably think Virgobanc is a really cool broker, right? Actually, no. They offer CFD trading, which is why they can offer trading in all assets. However, keep in mind that these are not physical assets, only contracts for differences. Additionally, the broker operates on a B-book model.

All Info About Accounts

The broker has five types of accounts, but you can only trade comfortably with the second one, called the Silver account. By the way, you need to deposit five thousand euros to open it, while the account for beginners is only 250 euros. Quite a range, isn’t it? However, with the Silver account, you get guaranteed access to five financial markets, while there is no mention of this in the basic account. In general, as the deposit grows, so does the number of additional services. For example, the VIP account even includes a Monthly Full-Protection Trade. And no, we don’t know what that is because we only trade on real markets where there is the real risk.

Pros
  • Low minimum deposit.
Cons
  • Ridiculous trading conditions.

Market Analysis and Education With Virgobanc.com

Well, you know what we say about Virgobanc – they offer more extra services than you can remember. Meanwhile, let’s be real. They’re all just marketing adjacent services. Plus, the whole broker team is anonymous, so who knows what kind of quality analysis you’ll be getting.

Deposit, Withdrawal, and Fees

The company offers various payment methods for depositing funds, including credit and debit cards, bank transfers, and even cryptocurrency. However, there is no information provided about withdrawal methods on the website, and there is no mention of it in the FAQ section.

Features Virgobanc MTCapitals  IronGatesFX
Debit/Credit Cards ✔️ ✔️
Electronic Payments
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

The broker offers a phone number and email for communication, as well as the feedback form. We won’t even consider the address because it’s fake. There is no such firm in that building, or the maps seem to ignore Virgobanc’s existence.

Pros
  • Email and phone number are provided.
Cons
  • Fake address.

Is Virgobanc Dangerous?

Well, let’s be honest here – we wouldn’t trade with this company even if you paid us to. And we can easily prove it.

How Long Does The Broker Work?

The broker claims to have over 100,000 clients. So how long do you think they’ve been in business? At least five years, right? Well, ideally, yes. However, that’s not the case with Virgobanc. The first mentions of it only appeared recently. Checking their domain shows that it was created on February 15, 2023. That’s some serious work to gather a multi-thousand audience in just a couple of months! Yeah, right, pure sarcasm.

Domain info

How Is Virgobanc Regulated?

It’s no secret that a reliable broker should have a license. Let’s see how it is with Virgobanc. So, this broker has an office in Switzerland. Well, or at least that’s what they say. It won’t be difficult for us to check the Swiss registry. And oh, look what we found there! Nothing. The broker is not registered in Switzerland. Frankly speaking, it’s not registered anywhere, didn’t obtain a license, and deceives its clients with its anonymous website.

Legal entity check

Features Virgobanc ToroProfit  AiFxMarkets
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Virgobanc?

You need to create an account and complete the verification process. Next, you can deposit and start trading.

Is Virgobanc Legit?

Virgobanc is not regulated by any reputable financial authority, and it is not registered in Switzerland, where it claims to have an office.

How Risky Is It?

It is extremely risky. The broker lacks regulation and transparency.
Kevin Berry
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Expert Opinion

Well, well, well, what do we have here? A broker that doesn’t believe in giving profits to its traders? Sounds like a real Robin Hood in reverse! According to the agreement, the profit earned by traders doesn’t belong to them and the company can choose not to return the money. Talk about a one-sided relationship! Looks like Virgobanc doesn’t just trade in financial assets, but in trust as well. And they’re certainly not buying low and selling high in that regard.

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

3 reviews about Virgobanc

Lina April 4, 2023 - 17:48
Don't fall for it - Virgobanc is a scam broker through and through.
The level of trust

I’ve been in the trading game for a while now, and I’ve never seen such a shady broker. They claim to be licensed in Europe, but something about their operation just doesn’t add up. For example, it’s well-known that licensed brokers are forbidden from offering massive bonuses like the ones Virgobanc promises. It’s just not a sustainable business model, and it only serves to lure unsuspecting traders into a trap.

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Fatone April 7, 2023 - 21:16
Don't make the same mistake I did
The level of trust

I have to admit, I was foolish to have deposited my money with Virgobanc before doing my due diligence. I was in a hurry to start trading, and I didn’t bother to check their reviews beforehand. Now that I have, I realize my mistake. I don’t know what to do now that I’ve already invested with them. I fear that I’ll never see my money again.

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Alan April 13, 2023 - 13:03
After extensive research, I can confidently say that your review of Virgobanc is the most comprehensive and truthful one out there.
The level of trust

I scoured other platforms and forums to see if I could trust this broker, but ultimately, I found only more evidence of their deceitful practices. It is a scam, plain, and simple. They will promise you the moon, and stars, but when it comes time to deliver, they disappear.

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