Vexxsel has all the ingredients for successful trading: leading liquidity providers, a wide range of assets, and access to the global market. The company is legally registered in Singapore, but there are no official documents on the website. Also, comments in which customers describe problems on the platform and complain about scammers complement the collection of negative points. We will review this broker and rate it for security.
- Vexxsel General Information
- Registration and Client Portal Review
- Vexxsel Trading Conditions
- Account Types Review
- Trading Platform
- Vexxsel — Deposit and Withdrawal of Funds
- Education and Social Trading
- Is Vexxsel a Scam?
- Legal Information and License
- Vexxsel.online Domain Info
- Contacts Review
- Copying Fake Data
- Pros and Cons
- Frequently Asked Questions (FAQ)
Vexxsel General Information
|Phone Number||447458038366, 447458197898|
|Address||150 South Bridge Rd, #06-04A Fook Hai Building, Singapore 058727|
|Leverage||1:5 (for crypto)|
Registration and Client Portal Review
Vexxsel website surprises with its meager appearance. There’s a hamburger menu here, as if we’re browsing the web from a smartphone instead of a desktop. The meaningless stock photo is complemented by the equally meaningless phrase “trading solutions for financial markets”. Very informative, right?
However, we are further told that Vexxsel provides access to global markets, including the US exchange. The brand is owned by Rever LTD, a management company registered with the US Securities and Exchange Commission (SEC). It is also a member of SIPC.
You can also find information about the management team on the site. Two men and a woman share the leadership of the main areas of activity: brokerage, client management and support. Probably this should convince potential Vexxsel customers of its excellent working experience.
However, when we went to the registration form, we encountered a surprise. It looks like a joke. You can simply click on the cross and immediately get into the trading terminal. No registration, no KYC. And how do you like the unfinished phrase about agreeing to the Vexxsel Terms?
Okay. We filled out the form with the necessary data, came up with a password, and checked the boxes. Of course, access to the office was opened immediately without any verification of contact details.
The client portal allows you to upload documents for verification, deposit your account, and manage your profile. At the top of the screen, you can open social trading, and join the operations of an experienced trader.
A demo account is missing. Despite such easy access to the Vexxsel platform, you cannot try out its functions. Money first, trading later.
Vexxsel Trading Conditions
The broker offers 5 classic accounts and an additional Sharia one. If the client cannot determine the optimal parameters for himself, he can seek the advice of a manager.
Account Types Review
The line of accounts looks rather strange, given that there is no segregation in the client portal. Perhaps Vexxsel specialists separate clients by phone and subsequently connect the indicated functions, but this is not like an American broker.
|Name||Minimum Deposit, EUR||Minimum Trade Size||Spreads|
Between the accounts, there is a large gap in the amount of deposit, which makes it difficult to move from one to another. Islamic account has no commissions. For some reason, the leverage is indicated only for VIP Platinum and only for cryptocurrencies (1:5).
By the way, in the Symbol Characteristics section, detailed specifications for each asset, including leverage, are indicated. There’s just a problem! Groups of assets do not match those in WebTrader. Perhaps the specifications here are not relevant to real trading at all.
Vexxsel has a platform, which is compatible with a personal account. It works on any device with Internet access (PC, laptop, tablet, smartphone). The company’s specialists promise to help with the settings if you have any questions.
In the center of the field, there is a chart that reflects the price movement for the selected timeframe. Any type can be set, such as candlesticks, bars, or lines. On the right, the client sees whether the market is in a bearish or bullish phase.
In our opinion, the Vexxsel platform has enough indicators but is still slightly directed towards gamification. Symbols with market movement and attractive percentages of social trading speak for themselves.
Vexxsel — Deposit and Withdrawal of Funds
You can top up your balance using one of the following options:
- Credit cards
- Wire transfer.
In the client portal, there are options only for bank cards and bitcoin transfers. Vexxsel claims that traders are required to pay a commission, but does not disclose its size anywhere.
To pass verification, as usual, you need to confirm your identity, place of residence, and payment data. As part of the KUS, Vexxsel also requires a signed history of online transactions. The deadline for considering documents is unknown.
Education and Social Trading
Vexxsel offers one-to-one Skype training. It includes three courses:
- Successful start (8 hours)
- Trade as professional (16 hours)
- Trading guru (32 hours).
Training is aimed at analyzing a variety of topics related to trading. How to sign up for it is absolutely unknown. There are no buttons or links to register.
In fact, for owners of a Premium or Gold account, training is completely free. The only trouble is that Vexxsel does not provide accounts with just such names. Somebody got confused.
For educational purposes, you can use the glossary to find out what is Ask, Spread, or Credit. Incredible! And also, judging by the documents, the company offers 4 types of bonuses: Welcome, No Deposit, Insurance, and Standard. We will not even go into their description, since this information is no longer found anywhere on the site, or in the client portal.
On the contrary, social trading is not mentioned anywhere, but there is a separate section for it in the personal account. Vexxsel demonstrates traders with fantastic results, but for some reason, none of them has withdrawn money yet. Whether they exist in nature is a good question.
Is Vexxsel a Scam?
While researching the site, we found out several dubious qualities of Vexxsel. They have a direct impact on the entire trading process.
Legal Information and License
The company’s legal name is Rever Ltd. It is registered either in the USA or in Singapore. The founders of Vexxsel, apart from verbal statements, did not prove their registration with documents. Of course, we will have to check it out personally.
So, the Singapore company registry https://www.bizfile.gov.sg/ knows nothing about this company. The same thing happened during the search in the registries of US organizations SEC and CIRC.
Searching the registry https://brokercheck.finra.org/ showed only one similar company, Revere Securities Ltd. It has existed in Illinois since 1984 and clearly has nothing to do with the hero of this review.
As a result, Vexxsel is not officially registered and is not licensed by the SEC. Trading with an illegal broker can lead to significant financial losses.
Vexxsel.online Domain Info
According to the owners of Vexxsel, they serve a large and diverse customer base. At the same time, we could not find a lot of reviews, as with top brokers. Perhaps the point is in the short period of the domain, which is 5 months.
Vexxsel is located in Singapore at 150 South Bridge Rd, #06-04A Fook High Building. Alas, this address is actually a futuristic office building. Online maps do not have information about such a broker. There are also two UK phone numbers and email for contact. The numbers are also not highlighted on the Internet.
There is also a chat in the client portal that looks like a fake pop-up. There are no managers or notices waiting for a response. You just send messages into an empty frame.
Copying Fake Data
What about the people who occupy leadership positions in Vexxsel? Actually, they don’t exist. First, their faces are very similar to the generated images of the This Person Does Not Exist neural network. Secondly, the same names are used on the website of another scam broker.
Pros and Cons
- Social trading.
- Disgusting content quality.
- No demo account.
- Unprotected personal account.
- Lies about registrations and licenses.
- Fake data.
- Short working time.
- Useless tutorial suggestions.
Frequently Asked Questions (FAQ)
The company offers CFD trading. This is ridiculous because an American broker, it claims to be, has no right to work with CFDs.
The line of accounts starts from 250 euros. Again, it is not clear why the euro is used as the currency if the broker is allegedly registered in the USA.
Of course not. It’s just a cheap one-off project that unsuccessfully tries to look impressive.