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FiatVisions Review: An Offshore Regulated Platform

An investor liaison is what FiatVisions brings to the table with transparency out of the question. We have been receiving numerous complaints from members of Fiat Visions. To set the record straight, we decided to open an account and experience it for ourselves. And boy, weren’t we in for a ride. Fiatvisions.com is an unscrupulous forex investment platform targeting naive investors. We will have to share our experience, hoping no one else faces the same situation. Here’s the complete FIATVISIONS REVIEW.

An Analysis of FiatVisions

There’s no denying that their website has an appealing design. You immediately feel like you’re in the right place. And that’s their intent, to make you feel comfortable and ensure they appear transparent.

Underneath the website’s appearance lies the bitter truth. Thanks to our undercover work, we can explicitly expose all the traps set by Fiat Visions. With several complaints, it’s now clear that FiatVisions is a complete fraud.

As we move back to Fiat Visions, we can only feel sorry for the investor who deposited large sums. You should first deposit small sums and check whether the platform allows withdrawals. In the case of fiatvisions.com, it’s hard to withdraw more than $200.

If their top priority is to keep funds safe at all times, the platform is failing miserably. With a license from the Financial Service Commission, they ought to do better. We understand why they enforce harsh conditions on members. There’s no oversight to check on the platform’s activities.

Accounts and Investment Types FiatVisions

FiatVisions offers five account types that are divided into two categories. The categories listed include the Starter level and the Next level. For basic traders and newbies, they have the option of choosing between three accounts.

Beginner account

The beginner account has a high depository requirement of $5,000. With this amount, members get an account manager, floating bid/Ask difference and mobile trading. However, memes get no prior information on the leverage and spread.

Basic account

It’s the second account with deposits set at $25,000. Again, you get all the perks of a beginner account with the addition of daily technical signals. Unfortunately, the accuracy of these signals is in question with no access to trading rooms or trading academy.

Silver account

Silver account holders must deposit $100,000 to start trading. With all the features in the above accounts, added advantages include commissions and trading academy. The set commissions are at a 20 percent discount on deposits.

We move on to the Next Level, which is for the more experienced investor and trader.

Gold account

To start using this account, members must deposit $250,000. After that, you get all the above features plus access to event rooms and VIP trails. The set commissions for this account are set at 30 percent. You also get access to the event room.

VIP account

You must deposit a whopping $1 million to start using this account. It’s likely the platform is targeting institutional clients with this account. Members get all features activated, including webinars, video courses, and VIP services. Commissions with this account are set to 50 percent.

Business holder

Green Point Technology LTD is the platform authorized by the FSC to operate. However, it remains unclear whether the platform owns this investment wing. Furthermore, there has been no official response from the company regarding its affiliation with fiatvisions.com.

On further investigation, we doubt even whether the Company exists. The reason we say this is their name doesn’t appear on FSC’s homepage. When we search, we get 0 results for the platform.

Commissions and discounts

The naive investor will happily sign up and deposit funds due to the high commissions and discounts. However, you should note that most regulators in Europe and the States are against it. These regulators blacklist platforms that offer bonuses, commissions., and discounts.

There’s a good reason for this, some of these platforms are not upfront with their commissions. As a result, they will likely blackmail members into depositing more funds even with a balance. Unfortunately, we have seen this scenario play out in more cases than one.

The platform will block or hold your account for ransom until you pay back the commission amount. What’s worse is they demand a new deposit even if your account has the balance to offset it. Imagine if this happens to an institutional client who deposited $1m and received $500,000 in commissions?

Compliance, License, and Registration of FiatVisions

Although the platform claims to have its license from the FSC, we doubt it. Once we took a closer look at the registry, we noticed a few issues. One, Green Point Technology Ltd does not exist.

Two, the platform is using random digits as their registration number. There are no documents on display to prove otherwise. Third, despite claiming to have a license, the regulator is based in Mauritius, which is a problem.

The regulator does not enforce stringent measures to protect investors. All they are after is the license and maintenance fee. And that’s the reason most investment platforms go for licenses in these jurisdictions.

You should invest in platforms that enjoy oversight from reputable regulators. Some of the reputable regulators include ASIC, BaFin, CONSOB, CySEC, FCA, and SEC.

Domain credentials (fiatvisions.com review)

There are hundreds of complaints, and the platform is barely 100 days in. As we publish this post, the website is 126 days old. The website went live on March 2nd, 2021. Even their contact details on the registry page are false. It looks like a random number.

The server hosting this website is also associated with other crypto and forex scams. It seems fair to state that the website belongs to the same culprits. The website has a low trust score and is not indexed by leading search engines.

Features of FiatVisions

Payment Methods

FiatVisions does not list the payment methods, which is a bit odd. During our initial trial, the platform was demanding wire transfer. However, the bottom of their homepage has what looks like depository options logos.

These include Amex, Discover, and Visa. Sadly, withdrawing funds from the platform is the biggest hurdle you will face. We haven’t heard or seen of any member getting to withdraw funds. Those who do are either withdrawing partial amounts.

Fiat Visions doesn’t allow users to withdraw the entire balance. So if your account has $3,000, you will likely not withdraw over $500. And this is a problem as members should have control of their funds.

Trading platform

There’s a proprietary platform on the use that we found unstable and slow at executing trades. We believe the best platforms for trading include MT4, MT5, and SIRIX.

Safety of funds with FiatVisions

Your funds are far from safe with a platform that uses false registry details. In addition, there’s no mention of any security net for deposits made. The platform should offer insurance cover for deposits seeing how high their depository requirements are.

Conclusion

There’s no need to deposit high amounts and have issues when withdrawing. But, unfortunately, the platform does not provide any transparency. And this is the reason we are adding Fiat Visions to our blacklist.