valutamarkets review: legit or scam?

Website URL: https://www.valutamarkets.com/

Review:

Valuta Markets is a Forex and CFD trading platform that has gained significant attention in recent times. However, after conducting an in-depth review, we have found that this website is a potential scam. In this review, we will outline the reasons why we believe Valuta Markets is not a legitimate trading platform.

Red Flags:

1. Lack of Regulation: Valuta Markets is not regulated by any reputable financial authority. This is a major red flag, as regulated brokers are required to follow strict guidelines to protect their clients’ funds.
2. Unrealistic Promises: The website promises unusually high returns, which is a common trait of scam websites. They claim that traders can earn up to 80% profit per trade, which is unrealistic and unsustainable.
3. Poor Customer Support: The customer support team is unresponsive and unhelpful. We tried to contact them through live chat, email, and phone, but our queries were ignored or met with generic responses.
4. Fake Testimonials: The website features fake testimonials from supposedly satisfied clients. These testimonials are likely fabricated to create a false sense of legitimacy.
5. Withdrawal Issues: Several users have reported difficulties in withdrawing their funds from Valuta Markets. This is a common issue with scam websites, which often make it difficult or impossible to withdraw winnings.

Trading Conditions:

1. High Minimum Deposit: The minimum deposit required to open an account is $250, which is relatively high compared to other brokers.
2. Limited Trading Instruments: The platform offers a limited range of trading instruments, including only a few currency pairs and commodities.
3. High Spreads: The spreads on Valuta Markets are high, which means that traders will have to pay more to enter and exit trades.

Security Concerns:

1. Unsecured Website: The website is not secured with SSL encryption, which means that sensitive information, such as passwords and credit card details, may be at risk of being intercepted by hackers.
2. No Clear Risk Disclosure: The website does not provide a clear risk disclosure statement, which is required by regulatory bodies to inform clients of the risks associated with trading.

Conclusion:

Based on our review, we believe that Valuta Markets is a scam website that is designed to deceive and exploit unsuspecting traders. The lack of regulation, unrealistic promises, poor customer support, and withdrawal issues are all major red flags that indicate a potential scam. We strongly advise traders to avoid this website and instead choose a reputable and regulated broker.

Rating: 1/10

Recommendation:

If you are looking for a reliable and trustworthy trading platform, we recommend choosing a broker that is regulated by a reputable financial authority, such as the CySEC, FCA, or ASIC. Some examples of reputable brokers include:

• AvaTrade
• FXCM
• Alpari
• Pepperstone

These brokers offer a wide range of trading instruments, competitive spreads, and robust security measures to protect your funds. Always remember to do your research and read reviews before choosing a trading platform.