Scam Alert: Vebson Accused of Account Blockage & Withdrawal Denials

Have you been facing account blockage issues at the Saint Lucia-based forex broker i.e., Vebson? Do you receive an email from Vebson about KYC verification, which you had successfully done during the challenge, upon submission of a withdrawal request ? Has the customer support team failed to respond to your queries? Well, these are nothing new at Vebson, which has been doing these for traders. Many traders have expressed their disappointment on broker review platforms. In this article, we have shared their reviews. Have a look!

The Growing List of Complaints Against Vebson

Fake KYC Verification Notice Issuance

As a prop trading firm, Vebson throws challenges to traders to win trades meeting several criteria. Some traders lose initially before winning the challenge eventually and earn a profit. One such trader earned a profit worth $1480. However, upon withdrawal, the trader received an email of KYC verification. As per the trader, KYC was verified successfully during challenge account purchases. Sharing a screenshot where the trader has criticized the broker for this illegitimate act.

Too Much Trade Manipulation

Many traders have narrated stories of their friends losing their investments on trades initiated on the Vebson platform. With some of them, they introduced their friends to Vebson, completely unaware of the trade manipulation activities by the broker. Here are some stunning scam revelations by traders.

Account Blockage During Challenge Purchases

Another trader reported that Vebson blocked his account during a challenge purchase, even without any trades. The trader enquired about the same with the customer support team, which told him that the drawdown limit was crossed. However, since the trader did not do any trade, the drawdown limit breach explanation by the support team lacks logic and indicates a scam. Check out the screenshot below to know about the matter.

Why is Forex Trading with Vebson Unsafe for Traders?

Too many trading complaints are signs that nothing is good for traders at Vebson. Further adding fuel to the scam complaints is the lack of regulatory supervision on Vebsons operations. The broker is unregulated despite its operations spanning nearly two years. The WikiFX team did not find this broker appropriate for forex trading in its investigation. As a result, it could assign it a score of just 1.83 out of 10.

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