ViewDfuture is a shady crypto broker suspiciously claiming to hold offices in Australia, Switzerland and Britain. Well, since our research showed that’s a falsehood, ViewDfuture reserved its place on the list of suspected scams. In fact, it’s most probably an offshore entity, and in the following text, we are going to discuss why it’s dangerous to deal with the so-called broker.
ViewDfuture REGULATION AND SAFETY OF FUNDS
As already mentioned, ViewDfuture pretends to hold offices in various countries worldwide, but that’s not true. Those guys are making fraudulent claims, so we can reasonably suspect that the broker is merely a scam scheme. Anyway, according to the Terms, ViewDfuture is incorporated in the Marshall Islands, which is a shady tax haven that doesn’t even have financial authority, let alone a regulated Forex market. Indeed, there are too many scammers and dodgy companies in the country, and that’s only because of the lack of transparency and regulations. So, your funds won’t be safe if you deposit with ViewDfuture because it’s unregulated and very likely a scam.
Avoid it and better check the high-rated EU brokers and British brokers by following the links provided. The brokers topping both lists are licensed and a part of money protection schemes created to secure clients deposits if things go wrong. For example, CySEC brokers’ clients can claim up to 20 000 EUR in compensation, while the British guarantees are up to 85 000 GBP per person. So if you are eligible to open accounts with European companies, you can safely go for it.
ViewDfuture TRADING SOFTWARE
ViewDfuture’s trading software is web-based and can’t offer any significant advantage over MetaTrader, for example. In fact, the broker’s platform is poor and lacking in functionality, so it’s a waste of time even trying it out. The only pairs available are cryptocurrencies, so we have to raise a red flag because Crypto/Crypto instruments are seen as prone to fraud and price manipulation. In fact, the BTC/USDT quotes difference is only around $1, which is an alarming sign. Well, no legit company can offer such a lucrative deal, so the price manipulation suspicions are indeed very real. You should avoid ViewDfuture unless planning to get in trouble.
Instead, why don’t you see the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists? The companies we recommend are licensed and deliver the best trading software available. Both MTs are packed with advanced tools such as Expert Advisors, many complex indicators, sophisticated charting tools and a marketplace featuring more than 10 000 apps.
The standard leverage is 1:10, but it can get to 1:300 if you deposit more money. Well, the first ratio is too risky, whereas the latter suicidal for crypto derivatives trading. The digital coins are overly volatile, with the EU and Australian regulators restricting crypto leverage to 1:2, while the UK entirely prohibiting such instruments. ViewDfuture’s leverage prompts us to raise another red flag. Beware.
In fact, leverage is so dangerous that many financial authorities regulate it to restrict its usage. For instance, EU, British and Australian brokers‘ clients are limited to 1:30, while Canadian brokers and US brokers can’t provide more than 1:50. On the other end, most high-leverage FX companies are unlicensed or deficiently regulated, so you’d better stay cautious.
ViewDfuture DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit is unknown, as well as the funding methods. Nevertheless, as ViewDfuture is potentially fraudulent, we’d like to suggest our lists with Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have a preferred payment system. The companies on top of both lists are adequately regulated, and you won’t face scammers.
Same with withdrawals and transaction fees- unknown. However, ViewDfuture has seemingly favourable inactivity fees. According to the clause, an account becomes dormant after 12 months and will be charged $30 annually. Well, the broker in question is anonymous and highly suspicious, so we can’t take their word for it.
ViewDfuture offers bonuses, which once again confirms that ViewDfuture shouldn’t be on the European markets. That’s because the EU and the UK brokers are no longer allowed to provide trading incentives for their clients. Nevertheless, the additional provisions introduced significantly worsen the trading conditions. If clients accepted incentives, they have to trade 30 times the bonus plus the deposit to become eligible for withdrawal. If clients fail to meet the requirement, they won’t be able to withdraw any sum whatsoever or cancel the bonus. That’s a scam!
Overall, ViewDfuture is an unregulated offshore broker, so you should avoid it.
HOW DOES THE SCAM WORK
The Forex scam is a popular type of fraud, and it’s actually a process. In the typical scenario, the victim clicked on a fraudulent ad, then received a phone call, and at some point got convinced to deposit money. To make people accept fraudulent offers, scammers would present deals that sound too good to be true, bonuses, get-rich-quick schemes, and so on. Their imagination is rich and would invent as many stories to get the craved deposits.
Unfortunately, the first deposit is not the end but the beginning. Gradually, scammers would manipulate victims and would urge them to invest repeatedly. For example, con artists may not allow people to trade themselves but would pretend to manage the accounts. Forged results would show victims massive profits, and scammers would ask for more money, promising to secure more gains.
The first indications of a scam come forth when people ask for withdrawals. Scammers would make excuses to refuse withdrawals and even require additional deposits to let people take their money out. Those criminals won’t stop asking for funds, no matter what. In the worst case, the victim would believe in the scammers’ falsehood and deposit again and again. However, sooner or later, the scam would become evident, the fraudsters would cut the communication and eventually disappear. They would drop the website, create a new one and carry on with their criminal business untouched, while people would be left with losses almost impossible to recover.
WHAT TO DO WHEN SCAMMED
Unfortunately, no one is immune to scams. If this unfortunately happens, the first thing to do is to protect yourself from further risk. Contact your bank and explain what happened so that they can give you instructions and help, if possible, recover your money.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!
Remember, it’s crucial not to rush to recover funds because many scam chargeback agencies and individuals are trying to double scam the victims. They ask for upfront payment, take the money but won’t do anything to help you!
Share online your experience; it’s important to protect others, as well. Be responsible!
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