FVP Trade: A Ponzi Scheme You Need to be Aware of

The official website of FVP Trade is fvptrade.com. The first impression of the website is that it looks well-built and professional.

FVP Trades business address stated on its Contact Page is Ashley Ritter Building, Fleming Street, Road Town, British Virgin Islands. They can be reached through email at support@fvptrade.com or via the 24/5 live chat support.

On its official website, it is stated that FVP Trade is registered with the British Virgin Islands and its company number is 1958626.

To confirm its registration, we went onto the official website of British Virgin Islands Financial Services Commission (www.bvifsc.vg).

Here, we found the certificate of incorporation (C59CA06DFC) which proved FVP Trade was indeed registered with the BVI since October 2017.

Market Instruments & Trading Platform:

FVP Trade offers the trade of forex, precious metals, indices/futures, commodities as well as cryptocurrencies.

Unlike many of its peers who offer both MT5 and MT4 trading platforms, only MT4 is available on FVP Trade.

Account Types:

There are also not many account types to choose from. Judging from FVP Trades official website, it seems like trading clients can only choose between a demo account and a live account. In addition, they also offer PAMM account trading and even offer the opportunity for their trading clients to sign up to be a fund manager.

Regulatory Status:

The biggest red flag of FVP Trade is that it does not hold any legitimate and valid licenses. There is no information regarding its regulatory status on its website too.

WikiFX is a global forex broker regulatory query platform that investigates, evaluates, reviews, and rates forex brokers all over the world. Looking at FVP Trades profile on the WikiFX app, it is evident that the lack of licenses and information, alongside the overwhelming amount of Exposure pieces received recently, FVP Trade deserves its low rating and score.

WikiFX has plastered a warning sign to keep our users away from FVP Trades because we highly suspect that this broker is using its PAMM services as a disguise for a Ponzi Scheme – this is a common tactic used by fraudulent forex brokers.

Read more about it here: https://www.wikifx.com/en/newsdetail/202207183254743592.html.

Starting from December 2021 to date, WikiFX has received nearly 30 Exposure pieces that centre around FVP Trade being a ponzi scheme.

WikiFX does not recommend FVP Trader as it possesses a lot of underlying risks without any valid license or regulatory status. There are many other (and better) fishes in the ocean. WikiFX would encourage users to get your hands on our free mobile app or website www.wikifx.com to look for a more appropriate broker to entrust your trading funds.