VerumFX is this a scam? Review and Customers Reviews

VerumFX is one of the most promising Forex brokers, which enjoys a high popularity among traders throughout the world. The main advantages of the broker are reliability, transparency as well as profitable trading conditions. VerumFX customers are provided with an opportunity to trade as professionals, regardless of the size of the deposit and experience.

Distinctive features of the broker:

• In-demand and liquid trading instruments
• The minimum deposit is 100 USD
• Maximum balance – no limits
• A possibility of using trading advisers, scalping

Trading conditions

VerumFX uses the most popular trading platform among traders around the world – MetaTrader4. At the same time, the company offers very attractive conditions for even newcomers to earn money in the foreign exchange market, like professional traders. Here are the main advantages of the broker:

• Prime brokerage

This is a system for receiving quotations and withdrawing transactions to the interbank market, which is a guarantee that a trader can make a deal at the best price. The prime brokerage works as follows. First, the prime broker receives liquidity from the largest banks (JP Morgan, Barclays, Citibank, Bank of America, UBS) and provides it to its clients. Due to this, traders get the most profitable quotes. Then, customer orders are sent to the prime broker using STP/NDD technology (end-to-end processing of orders) and are immediately transferred to the interbank market without re-quotes. Very honestly and very quickly.

• 5 digits after the comma in quotes

An extra digit might seem a pure trifle, but it matters a lot in trading. The five-figure quotation, in contrast to the four-digit one, employed by most brokers, enables the broker’s clients to earn even at the minimum exchange rate fluctuations. Additionally, it reduces the size of the spread.

• Effective risk management

Those who don’t lose earn – that’s the golden rule of Forex trading, and Verum Option is certainly aware of it.  To protect its clients from unnecessary risks, the broker has differentiated the size of the leverage depending on the balance on the client’s trading account.

• With a balance of up to $25,000, the leverage size is 1: 1 – 1: 200
• With a balance of $25 000 – 100 000 dollars, the leverage size is 1: 1 – 1: 100
• With a balance of more than $100,000, the leverage size is 1: 1 – 1:50

In addition, depending on market conditions, the level of margin requirements may vary. For example, when the market is too volatile and unstable, the margin can be increased.

Regulator of the broker

Verum Option is certified by RFMR – the Center for Regulation of Financial Market Relations. This independent organization monitors the quality of services provided by brokers and ensures the safety of trading in the financial market.

Types of accounts

Any VerumFX client can open either a real or a demo account, which will allow him or her to practice and learn trading without real financial losses. In terms of functionality, demo account is absolutely equal to the real one, with the only difference that the demo account does not need to be replenished, as it’s trading with virtual money.

There aren’t any privileged accounts in VerumFX: the company’s policy is that each client equally deserves good terms for trading, regardless of the size of the deposit.

In most brokers, account types differ in the size of the cash bonus when replenishing the account, but VerumFX completely abandoned the system of bonuses and rewards. It makes a lot of sense. As the company’s management explains (this information is on the broker’s website), bonuses are required mainly to lure customers and provide them with quick benefits. However, all these bonuses are taken from the company’s funds, and it can negatively affect its solvency and put customers’ deposits at risk. To maximally secure traders, VerumFX does not award bonuses, but it provides favorable conditions for real earnings.

Security

VerumFX takes care of the security of personal data as well as the financial transactions of its customers, so it uses the most advanced technologies to provide enhanced protection.

To replenish the trading account and withdraw funds, the broker offers the most known and proven methods having a good reputation among users (for example, QIWI, Visa / MasterCard banking system, etc.).

In addition, the company’s customers undergo a procedure for verifying their personal data in order to obtain full protection against fraudulent intruders. Due to verification, the client can be sure that no one else can withdraw money from his trading account.

VerumFX reviews

On the Internet, you are welcome to look through a great number of reviews about VerumFX, and the vast majority of them turn to be pleasantly positive responses. Here’s what traders value most in the company:

• availability of mobile platform
• a quick withdrawal of funds
• a profitable affiliate program
• exact quotations
• an instant execution of orders
• a good customer support.

Conclusion

For those who like the classic Forex and the ability to trade as a professional investors, VerumFX will be an excellent financial partner. This company is trustworthy, as it offers its customers the most honest and profitable trading conditions and gives them a great opportunity to earn the maximum profit in the foreign exchange market.