Abstract：Do you constantly witness withdrawal denials by VEBSON, a Saint Lucia-based forex broker? Have you witnessed withdrawal denial only when you earn profits? Does the brokerage firm constantly push you into losses by manipulating your trades? Did you fail to receive payouts despite passing the challenge? These alleged issues have made their way to broker review platforms such as WikiFX. In this VEBSON review article, we have examined several such allegations against the trading firm. Take a look!
Do you constantly witness withdrawal denials by VEBSON, a Saint Lucia-based forex broker? Have you witnessed withdrawal denial only when you earn profits? Does the brokerage firm constantly push you into losses by manipulating your trades? Did you fail to receive payouts despite passing the challenge? These alleged issues have made their way to broker review platforms such as WikiFX. In this VEBSON review article, we have examined several such allegations against the trading firm. Take a look!
VEBSON Overview: Company Profile, Trading Instruments & Account Types
VEBSON claims to offer a wide range of trading products to users worldwide. These products are forex, cryptocurrencies, precious metals, stocks and CFDs. Besides, it is also a prop trading enterprise, meaning it funds traders on passing several trading challenges.
On its official website, it also claims to offer a Percentage Allocation Money Management (PAMM) solution aimed at boosting investors trades through a professional account manager.
Additionally, the copytrade initiative, which takes cues from winning trades by experienced investors, is also available for traders.
As far as the account types are concerned, VEBSON offers Cent, Standard and Super ECN. Here are the features of these accounts.
The List of Negative Reports Against VEBSON
Withdrawals Denied Upon Making Profitable Trades
Several traders have accused VEBSON of denying withdrawals when making profits, with some going on to make claims such as profit confiscation or deception. These alleged claims do not go well with the brokers reputation. Below, we have shared VEBSON reviews, questioning the authenticity of its operation.
Internal Transfer Block Accusation Against VEBSON
A trader from Malaysia commented on having earned profits legally week after week with optimized entries per day while sharing the VEBSON review on WikiFX, a leading forex broker regulation inquiry app. Despite delays, the trader admitted to having received funds on two withdrawal requests. However, as the user requested for the third time, the broker allegedly failed to honor it. Elaborating further, the trader stated that to withdraw funds, you need to transfer funds into the wallet. As per the complaint, VEBSON purposely disabled the internal transfer while not responding to the documents sent to activate it. Frustrated by this circumstance, the trader made his complaint public. Here is what the trader said.
Trade Manipulation Allegation Involving the Lack of Stop-loss Order Management
A Kenya-based trader accused VEBSON of causing overleveraging by bringing duplicate delayed positions before closing connections to prevent the execution of stop-loss orders. The trader, while attempting to pass the trading challenge, reportedly went through this and lost. Here is the complete review of how things went wrong for the user.
Challenges Overhauled, Yet No Funding from VEBSON, a Trader Alleges
A South Africa-based user alleged that VEBSON rejected payouts despite the former passing the challenge phases with verified results. The broker, while rejecting payouts, denied having any trading record boasted by the trader on the MetaTrader 5 (MT5) platform. Subsequently, the trader retorted by sharing the trading activity with the broker, which allegedly failed to respond to the matter.
VEBSON Prop Firm Accused of Denying Payouts Despite Completed KYC Verification
A user from Pakistan alleged that VEBSON denied his payout despite successfully passing a $50K challenge and earning $1,480 in profit. He claimed his KYC was already approved before purchasing the account, but the firm later cited KYC issues to reject his withdrawal. The user labeled the firm as a scam and warned others not to invest, stating he had proof of his claims when sharing this VEBSON review.
The Illegitimate Account Block Allegation
A Pakistan-based user claimed that VEBSON never pays affiliate commission. Instead, it blocks accounts. Recounting his experience, the trader shared that after buying a challenge of 2000, he paid a fee of $36.6 and did not trade for almost two days. The user was met with an unexpected account block. When inquired with the customer support team, the user was told that the account fell below the drawdown limit. The trader expressed surprise by saying that there was no question of drawdown in the absence of any trade. Disappointed by the overall move, the trader complained about it on a review platform. Take a look!
VEBSON Review by WikiFX: The Regulatory Status & Score
The massive number of complaints against VEBSON made a case for a thorough review of its regulatory status. When investigating, the WikiFX team found it to be unregulated, resulting in a low score of 1.97 out of 10 for the brokerage firm.
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