Beware! VIPdoubler is an offshore broker! Your investment may be at risk.
VIPdoubler Key Facts
🔴 VIPdoubler offers questionable investment opportunities – a clear sign of a scam!
🔴 VIPdoubler is quite coy with crucial contact information – beware!
🔴 VIPdoubler lacks a license for the provision of its services – a huge red flag!
🔴 VIPdoubler's domain has been registered two days ago – another off-putting detail!
VIPdoubler products and services
VIPdoubler is a scam that offers to double your deposit if you invest with it – claiming return rates of upwards of 200% within a day. It is impossible for any company to achieve that level or revenue, of course – VIPdoubler is simply trying to pocket your funds.
People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.
VIPdoubler company and regulation
VIPdoubler is not a licensed company – and to its credit it does not claim to be one, but we expect every legitimate investment firm to be under the supervision of at least one regulatory authority.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
VIPdoubler address and contacts
VIPdoubler provides us with no contact information – not even the bare minimum of a phone number and an address line is available. This is staggeringly unprofessional.
Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.
VIPdoubler website info
VIPdoubler's domain went online on the 21st of April 2021 – this makes it two days old at the time of writing! There is no more obvious scam sign than a recent domain. This short lifespan also means we are unable to discern what levels of traffic the domain boasts as they are below the threshold that SimilarWeb has for posting a domain on its index. There is also the problem of us not being able to discover the IP address the domain is hosted on due to DNS probes not really being able to locate it. The domain's owners have also concealed themselves from WhoIs lookups in another blatant breach of the principles of transparency.
Scam warning
We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority.
However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.
Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.