Published on May 21st, 2020 | by Sara Kane0
Veonco review: A reliable trading company or another internet scam?
Veonco is an online trading company that deals in Forex trading, foreign currencies and other commodities. They also trade in cryptocurrencies. This company has formed recently in 2019 and they deal mostly in online investments. They claim that they can win most trades through the advanced platform that uses automatic trading and leverage to be profitable. They offer both a downloadable Meta trader as well as a web trader where you can trade online. They also claim to offer financial instruments to assist the investor, although they do not explain the details of these instruments. This site deals in a wide range of different commodities ranging from physical ones in the form of gold and silver as well as online stocks. However, these trading options are unrelated, which means that the company will have to have a different trading strategy for each one. While the outlay of the site is professional and they provide a basic overview of their trading strategy, you should consider other important aspects of this site before deciding whether to invest in it or not.
Veonco was formed in 2019, and is a relatively new company when it comes to trading commodities. Many such companies that deal in online trading are started each day, but most of them have no solid business model. Veonco is an online company and they provide no address to verify their location, even though they claim to be operating from the UK. The owners of this company are unknown and there is no way of finding out which country it operates from. If you want to contact them, you can do so through the form on their website. Alternatively, you could contact them through email at: [email protected]. Another thing to note is that they are not registered to provide financial services under the UK’s financial authority. This means that the brokers that the company provides you with will be unregulated as well. You can see the information on their website at: http://veonco.com/
Veonco deals in Forex trading, cryptocurrency trading, commodities such as gold and silver as well as stocks. This makes the company quite diversified. When you create an account on the site, you will be required to invest a minimum of $100. You will get access to the trading platform and different financial tools to help you trade. However, you should note that these tools are mainly analytic tools and cannot actually help you win trades. They provide a leverage that is higher than the market average, which they claim helps them win most trades. However, much of the commodities that this company deals with does not work on the principle of leverage trading so it is unclear what benefits the customer is actually receiving from creating an account.
Veonco mainly uses a leverage trading strategy. This may have been effective in certain scenarios, but the returns will be mixed according to most professional traders. Another problem with this strategy is that it does not work for stocks or physical commodities such as gold, etc. The company has not provided any trading strategy for these commodities. While they do offer an alternate trading platform in MT5, the custom made platform that each user gains access to is not reliable in terms of security features and longevity. They also fail to link their trading strategy with real trades or trading results, which makes it untested platform so far.
- Company: Veonco
- Product: Commodities, Forex trading, cryptocurrencies and stock trading platform
- Minimum investment: $100
- Strategy: Leverage trading
- Trading results: None
- Customer Feedback: Negative
- Regulated: No
Veonco has claimed that they provide leverage up to 1:200 to their users. This means that the customers should be making constant profits. If what they claim is true, then the platform should be making profit in most trades. However, they have not included any actual trading results on their page. They have also not provided any solid information on which platforms they plan to use, especially with crypto trading and forex trading. Another issue with this site is that their trading results cannot be verified by a trusted third party.
Veonco has a professional layout and aims to convince customers that they are one of the more professional trading sites. However, most of the customer reviews point to the fact that the site is not allowing any withdrawals. Unfortunately, this makes it unreliable as existing customers are not able to withdraw their profits. The customer service is slow and unreliable as well. Moreover, the website enlists only three customer reviews and that too can’t be verified as no similar review was found elsewhere.
Although Veonco has created a professional layout to impress new users, they have not met the needs of their existing investors. They deal with unregulated brokers and do not have approval to offer financial services. The customers have also complained about an inability to withdraw funds from their accounts. This makes Veonco an unreliable investment site.
If you have had any experience with this company, we would love to hear from you. So, share with us in the comments section below.
$100 (minimum investment)
- Veonco is quite diversified in the services that it offers the clients
- The company also offers a variety of tools to help speed up the trading process
- The tools that they promised their potential traders do not guarantee a successful trade
- Client testimonials are very limited and there's a lot of controversy going around the authenticity of this site
- The company shares leverage trading as a strategy, however, it doesn't align with the overall commodities that they deal with
- They have not provided any clear trading strategy
- Trade results also lack verification
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