Vourteige

Scammers are constantly trying to come up with something new to gather more money from clients. An example of this could be Vourteige, posing as a regulated CFD broker. In addition to the traditional offerings of a significant number of assets and modern trading platforms, traders are tempted by the presence of a license from a European regulator and compensation claims of 250,000 euros each. This would seem very appealing, but in reality, it’s just deceiving users. More about this scam project and its methods of operation can be found in our review.

Overview of Vourteige

Choosing a worthy broker is a task that requires careful study of all available information about it. It’s worth starting with the official website. We will first familiarize ourselves with the content of its pages, which contain basic information about Vourteige and its operations.

Broker History

For some reason, Vourteige has decided not to say a word about its history. Even on “About Us” and “Why Us” pages with verbose texts about the broker itself, we failed to find any information about the company’s founding date or its achievements. Usually, scammers do this when they have nothing to say about themselves and their plans for the future.

We will, of course, try to find the necessary information from third-party sources and clarify the reasons for Vourteige’s approach. However, the fact is quite telling: the broker did not use one of the simplest methods to improve its reputation. While this is not grounds for considering the platform fraudulent, it does raise some questions.

Vourteige.com Website

At first glance, the appearance of the broker’s official website seems quite attractive. This impression is created by the homepage with an animated banner, successful color combinations, and a well-thought-out layout.

However, the other pages look much worse. There are hardly any graphics on them, and the lengthy texts are almost completely devoid of informational content. To assess the quality of the content, it’s enough to look at:

• “Trading Platform” page, where the broker praises the terminal without providing any facts or even mentioning its characteristics.
• “Economic Calendar” page, where developers didn’t even bother to place any of the dozens of free widgets available on the web.
• “Why Us” page, where Vourteige tries to convince traders why they should work with them. However, not a single argument, except for general words, can be found there.

The same can be said about most of the other pages. For example, the page with account types, which is mentioned several times in the texts, was completely forgotten. In short, it seems that the content was published just for the sake of being there. Whether it meets the traders’ needs is of no interest to anyone.

Overall, such a resource looks completely useless. For placing a couple of buttons (registration and login) and contact information, something simpler could have been devised. There are almost no chances of attracting users from search engines to such a site. Nobody expects this, at least judging by the email from the personal manager that we received immediately after registration. However, it copes quite well with its only task: to mark Vourteige’s presence on the web.

Registration Process and Personal Account

Registration of a new client with Vourteige is a straightforward process. Users wishing to create a new account need to fill out just a few fields in a small form.

You are required to provide:

• First and last name.
• Email and phone number.
• Country of residence.
• Account currency.
• Password.

It’s also mandatory to agree to the Terms & Conditions and pass the reCaptcha verification. Perhaps these final steps reassure a user that Vourteige “knows what security is.” From our point of view, however, it doesn’t even know how companies providing brokerage services work.

For example, we had several questions about the registration process right away:

• Most regulators require clients to provide at least their mailing address when registering. Why doesn’t the broker comply with these requirements?
• How does Vourteige determine a client’s status (retail or professional investor)? After all, it does not conduct any surveys. Yet, this status determines many trading conditions, such as the allowable leverage ratio.
• Does the company really believe that only one document, “Terms & Conditions”, is important to the user? They do not offer to read and accept any others during registration. And there’s no complete “Risk Disclosure” text at Vourteige at all. Or does the broker believe that a meager snippet mentioning risks in the footer of the pages is sufficient?
• Will platform employees verify a user’s contact information? No one does this during registration. Anticipating, we’ll say that this function is also not provided in the user’s account.

Such an approach can only be afforded by scammers who consider it unnecessary to comply with laws and regulatory requirements. Does anyone else consider Vourteige a legally operating company?

We gained access to the user account immediately after submitting the completed form. As expected, the broker uses a standard template with a minimal set of functions. It includes:

• Editing personal data, including security settings.
• Sending copies of documents for verification.
• Performing financial transactions (depositing funds and submitting withdrawal requests).
• Viewing the history of trading and non-trading operations.
• Contacting customer support.
• Launching the web trader, or uploading a file for installing the desktop terminal.

Despite the standard set of functions, Vourteige still gives users cause for questions here. For example:

• The “My Crypto Wallet” feature informs a new user that they do not have any crypto wallets yet. However, no control elements for creating them were found in this section. What is the purpose of this feature?
• When editing personal data, you need to additionally enter the region/state, city, and postal code. Does the company consider this a complete postal address? Or are they trying to make it appear that they comply with regulatory requirements without even familiarizing themselves with them?

Trading Platform

About its trading terminal, Vourteige speaks very highly and extensively. Suffice it to say that “Trading Platform” page is one of the most voluminous on the website. We’ve already mentioned the informational value of this opus. Therefore, we examined the platform quite carefully.

As a result, we could hardly find any advantages of the software, except for the ability to open multiple price charts in one window. However, there were significantly more disadvantages to the terminal.

Among them:

• An inconvenient organization of the market overview (list of trading instruments). Finding the required ticker within a reasonable time, even with the use of a fast search system, is not feasible. This means that a trader will waste precious time opening and closing positions. In some cases, such as trading on news, this could lead to significant losses.
• The number of graphical analysis components (only 5) significantly reduces the user’s capabilities. It may be necessary for them to modify their trading system, which could affect the accuracy of market entry and exit.
• There’s no provision for developing proprietary indicators and trading robots (in the desktop version as well), nor for connecting new modules. This also limits the scope of possibilities for Vourteige clients when using the terminal.

Moreover, Vourteige misleads users. The software was developed not by the broker but by Easy Technologies (the author’s mention can be found in the desktop version). Why does the company claim credit for someone else’s results?

Furthermore, the terminal’s reputation is far from stellar. Those who have had the chance to work with it claim that the server administrator can make changes to the quote flow at their discretion. Is this how Vourteige defines honesty and security?

Contacts

The Contact Us page can delight visitors with a variety of options. In addition to a feedback form and the email address support@vourteige.com, managers have provided addresses and phone numbers in:

• United Kingdom: 30 Stamford St, London SE1 9LQ, +441276982320.
• Luxembourg: 32-36 Bd d’Avranches, 1160 Bonnevoie-Nord-Verlorenkost, +35220334215.
• Switzerland: Via Lugano 13, 6982 Agno, +41215303160.

We suspect that these are not real but virtual offices. Their rent is inexpensive (around 100-150 euros per month), but it gives the owner a sense of solidity. They may not even function, as it is not so critical. For quick communication with traders, a suitable alternative could be an online chat, which can be accessed on any page.

Vourteige does not have any links to social media profiles. Obviously, the broker does not intend to attract clients in this way. Accordingly, it considers investing time and resources in creating groups and channels and maintaining their activity to be irrational.

Analysis of Services Offered by Vourteige

After the initial acquaintance with the broker, or rather its official website and client workspace, a trader should learn about the terms of service offered to prospective clients.

Funding and Withdrawal

Vourteige did not create a separate page for information on financial operations; it only mentions them in the FAQ. However, it only discusses available payment methods. According to the broker, the list includes:

• Bank transfers.
• Debit and credit cards.
• Electronic payment systems such as Skrill and Neteller.

The company deemed information about the conditions of these operations (such as limits and fees) unnecessary, so it is not mentioned on the website pages. Some details become available to registered clients in their personal accounts.

However, the information provided by Vourteige in the client workspace significantly differs from what is stated on the official website. For example, “Deposit” page only outlines two possible account funding options: via card and bank transfer.

Attempting to perform an operation via bank transfer is doomed to failure as no recipient details were provided. Funding from a card also fails; a user receives an error message and a suggestion to contact support.

Vourteige did not surprise with anything. Such approaches are characteristic of scammers who strive to maintain anonymity to avoid scrutiny from financial and tax authorities. Most likely, the support will suggest another method, such as cryptocurrency transfer or using a drop card.

The withdrawal process is also quite interesting. Clients are offered only two payment methods: bank transfer or cryptocurrency wallet. Naturally, this has nothing to do with the AML policy, which declares that funds should be sent using the same method as the account was funded.

Vourteige Trading Conditions

The broker’s publication of trading conditions is generally poor. The only thing we managed to find was a minimum deposit amount of $250. There are also statements that other conditions, such as leverage and spreads, are optimized for each type of account. However, details are said to be available on the page with the account types. Well, as we have already mentioned, they simply forgot to create and publish it.

Nothing is known about the tariff plans, even in the personal account. Therefore, the trader will have to find out all the details on their own. Considering that there are no demo accounts in Vourteige, this can only be done when making a real trade. Needless to say, this significantly increases the risk of losses.

Is Vourteige Trustworthy and Reliable?

Doubts about the broker being a fraudulent project have practically vanished. The final argument confirming this will be an analysis of official information about Vourteige.

Assessing Legitimacy

The broker provides information about the registration of the company controlling its operations in the footer of its pages. It claims that Quintero LLC is registered under number 3314 LLC 2023 in Saint Vincent and the Grenadines. To check this information, one simply needs to consult the registry of the local financial regulator, SVGFSA.

Information about a company with this name does exist in the regulator’s registry. However, as everyone knows, it does not license or regulate the activities of Forex/CFD brokers. Therefore, we can only speak of the official registration of the legal entity.

Vourteige, or rather Quintero LLC, attempted to address this issue by mentioning its work under the auspices of the independent European Union Asset Control (EUAC) regulator. However, firstly, the latter itself states that it works exclusively with blockchain networks and crypto assets. Secondly, the company is not registered at any of the provided addresses. Thirdly, its domain was only registered on January 31, 2024, which dispels the legend of the “regulator” controlling markets for 8 years and the registration of Quintero LLC in 2018.

Established Track Record

Although Vourteige does not provide information about the date of its establishment, we can determine it based on the registration date. The SVGFSA registry indicates November 30, 2023. The whois service data with the domain registration date differs slightly.

The domain was registered in September 2023, even before the company was created. However, there’s nothing unusual about this — purchasing a domain before completing the formalities of registering a legal entity is not uncommon. Nevertheless, we can conclude that Vourteige has been in existence for 3 to 5 months. It is understandable why scammers refuse to disclose any information about their history.

Implications for Traders

Vourteige is another scam broker displaying all the signs of a fraudulent project. Among them, we can list offshore registration, lack of a license, hidden trading conditions, and opaque financial operations. This is more than enough reason to avoid dealing with the firm. We strongly advise against depositing funds here to avoid losing invested money.

Strengths and Weaknesses