VANEX is not overseen by any regulator and should be avoided at all events. VANEX claims to be a regulated firm while presenting neither details about its company information (company name, office address) and regulation, nor legal documents (terms & conditions, risk disclosure and privacy policy, etc.). Lacking for such information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their accreditation and licenses in a prominent position.
Besides, this broker claims to be regulated by Vanuatu Financial Services Commission (VSFC). We indeed found an authorised entity named "VANEX LIMITED", but VFSC provides neither authentication details nor domains of registered company for traders to verify. Consequently, it is not a hundred percent sure that the licensed entity is the one that runs the business under the trading name of VANEX.
Probing further into this broker, we deem that VANEX is a clone firm that falsely uses regulatory information of the licensed entity. We downloaded its MT5 platform and noticed that this broker is owned by a Thai company named "Vanex International Co.,Ltd" rather than the regulated firm "VANEX LIMITED". So VANEX is actually not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is thoroughly a scam.
We would recommend you to stay away from VANEX and any other unregulated brokerages, since they are not subject to necessary laws and principles of operation, resulting in a high risk to trade with them.
