Vaanex is not overseen by any regulator and should be avoided at all events. We found that this broker's website is not available right now, as most probably it has been suspended, which is always a bad sign.
Based on the information we hold, Vaanex is a shady broker that claims to be a member of Vanex Limited, a liability company licensed and regulated by the Vanuatu Financial Services Commission (VFSC).
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 Vaanex.
Probing further into this broker, we deem that Vaanex is a scam firm that falsely uses regulatory information of the licensed entity. We downloaded its MT5 platform and noticed that this broker is owned by a BVI-based company named "Vaanex Group Company Limited" rather than "VANEX LIMITED." So Vaanex may be a clone firm of the VFSC-regulated entity.
Moreover, we didn't find any matching results in the registers of the British Virgin Islands Financial Services Commission (BVI FSC). So Vaanex is actually not regulated by any financial regulator. That means investors' funds in this broker are unsafe and cannot be protected by any laws. Therefore, it is a scam. We would recommend traders stay away from unregulated brokers like Vaanex and trade with licensed brokers.
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