If a forex broker claims to be your safe partner and the best guide to the financial markets, it is not a reason to rush and open a brokerage account. Often, such firms turn out to be scammers, like VIP Solution Private, which does not have many reviews from real traders. What is the problem with the platform, why can’t it be trusted, and what red flags does it have? Let’s delve into this.
Brief Overview
- 🖥Official Website: vipsolutionprivate.com
- ✈️Contact Address: 82 Lorong 23 Geylang, #06-09, ATRIX, Singapore, 388409
- 📞Customer Support: +6531590544
- 🔐Licensing and Accreditation: no
- ⏳Track Record: 2024
- 🧰Specialization: brokerage service
- 🤝Terms of Cooperation: £100
- 💰Additional Services: PAMM, webinars, trading plan, etc
Vipsolutionprivate.com Examination
The company decided not to include important information about itself on its official website, unlike all verified and safe brokerage firms. Instead, VIP Solution Private cluttered its site with unnecessary advertising blocks featuring pseudo-benefits that are not even proven. You can also see motivational phrases that are supposedly aimed at encouraging the user to open an account, but they look too silly and ridiculous. Legal documents, company registration details, licenses, and detailed trading conditions — all this remains hidden from the visitors’ eyes.
To summarize the official website of VIP Solution Private, the company used a ready-made template to create it, including text that lacks necessary and useful information for traders. The quality of the resource is low, and besides English, only Russian is supported.
Company Contacts
There aren’t many contact details. In the corresponding section, you can find a phone number, an email address, and a form for contacting support to get feedback. The office address is in Singapore, but there are no social media links or online chat available. Moreover, the email does not exist, and the phone number is probably fake too. Essentially, it is unclear how you can actually get in touch with the managers.
Key Conditions
VIP Solution Private did not come up with anything unique or interesting and just created a standard range of tariff plans where traders are offered more services for more money invested. There are only 4 types of accounts:
- Forex + Cryptocurrency. A minimum deposit of £100 is required.
- Commodities. From £7,500.
- Stock-Market. At least £30,000.
- Indices. From £120,000.
Additional services include news, a test period with a financial expert for 5 working days, webinars, weekly CME reports, PAMM, IPO, individual trading plans, and others. In essence, the company tries to extract as much money as possible from the user by creating demand for more expensive types of accounts. It is worth noting that often fraudulent brokers do this to “earn” more money from each client.
Interestingly, the account’s currency is listed in British pounds, which is the national currency of the United Kingdom, even though the headquarters is supposedly in Singapore, where a different national currency is used. It seems the scammers forgot to change the currency from the old template they used to create their fake website.
The broker decided not to reveal all the details to users, so commissions and spreads are not specified, nor is the leverage. How can this behavior be interpreted? Exclusively negatively. Moreover, it is impossible to register with the company without an invitation code.
Exposing VIP Solution Private
There is no doubt about the fraudulent nature of the company. Fake contact details and trading conditions clearly indicate this. However, it is still worth investigating the firm more thoroughly, studying its period of operation, legitimate status, and then making a final conclusion.
There is a company named VIP Solution Private in Singapore, but it has no relation to the website vipsolutionprivate.com. It is a completely different organization with an entirely different type of activity. It is likely that anonymous scammers used someone else’s name to create their fake platform. Moreover, the broker has not even obtained a license from the Singapore regulator, which it is required to do. The company’s activities are not regulated and are conducted illegally.
Another important issue is the period of operation, as the longer a firm has been in existence, the more trustworthy it is. However, this is not the case here. The period of operation is unknown since it is not mentioned on the website, but you can find out using the Whois service when the domain vipsolutionprivate.com was registered. As seen in the screenshot below, the domain was registered in May 2024. This broker is a very young firm without experience and a solid operating history. It has not even been around for a year.
The management is anonymous, as they do not disclose their names or faces. Traders’ orders are not routed to interbank liquidity (ECN) or a liquidity provider but are processed internally. In such a case, there is a conflict of interest, so the platform does not benefit from the client’s success. In general, there are already enough negative factors to be sure that this is a scam.
What Reviews Do Users Leave?
There is one feature regarding the opinions that has been discovered. Reviews about the broker are predominantly in Russian, and this segment of the internet has the most mentions of VIP Solution Private. This is not surprising since the official website supports the Russian language. So, it is easy to guess which region the scammers are targeting.
There are both positive and negative comments. However, it can be said with certainty that the positive comments are fake. It is noticeable that the platform pays for the publication of promotional testimonials. Such reviews cannot be trusted.
Conclusions
The conclusion is brief — it is a scam. The goal of VIP Solution Private review was to expose this brokerage company so that people do not lose their money. The broker has no license, boasts fake contact details and a false office address, offers terrible trading conditions, and started operating very recently. There is not a single reason to trust the platform, but there are many reasons not to register an account.
Pros/Cons
- None.
- Illegal activities.
- Fake data on the website.
- A short period of operation.
- Can't register an account without a promo code.
- Template site.
You can’t even freely register an account here. You need to enter some kind of code. I tried entering random codes, but it didn’t work. Where do you get this code? Who knows. But the point isn’t where to get the code; it’s why you need to enter it at all to create an account. I haven’t seen this requirement with any reliable and verified intermediary. As far as I know, such tricks are only used by scammers and shady fake dealing desks. So, I advise you to ignore this site and find a more trustworthy brokerage partner.
They scam people out of their money, without a doubt. I know several stories where people trusted VIP Solution Private, and these scammers ripped them off. One person was cheated out of $5,000, another out of $15,000. Both are unable to recover their lost funds. The scammers blocked them, ignored them, and they could do nothing about it.
Be careful. If something is being aggressively pushed on you, it’s a reason to think twice and refuse the offer. I know for sure that this is a fake broker. Its activities are illegal since it lacks a license.