Read our Virgins Markets review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a virginsmarkets.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Virgins Markets is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Virgins Markets in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Virgins Markets Review Conclusions
Making the Virgins Markets review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Virgins Markets review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Thanks so much for your detailed review of Virgins Markets which I feel is quite accurate based on my experience dealing with them. I left them a bad review at https://theforexreview.com/2021/08/23/virginsmarkets-review/ where you can see many other individuals who got scammed by them. Fortunately for me, I did not loose any money as I discovered their scam early on, but they still constantly hound me with phone calls despite telling them I am not interesting in trading on their platform.
It started in early December 2021 when I saw a Brandon Lewis ad on Youtube about using their Gemini2 auto-trading platform to make money. That ad provided a landing page which I entered my phone number and email. A gentlemen by the name of Harry Nelson of Virgins Markets called me within minutes to guide me to open a trading account with them and how to deposit the first $250. Fortunately, I performed a Whois on their virginsmarkets.com domain name and found out that they just registered it in July 2021 and only for 1 year. That’s how I knew it was a scam. Harry tried to deny that they have only been around for 6 months but I told him I would never trade on a platform that is only 6 months old. If you google “Brandon Lewis Gemini2”, you will see many scam alerts including a video by the actor who played Brandon Lewis. Since that first call where I told Harry that I am not interested as I believe they are a scam, I have received 6 follow-up calls from various representatives asking me why I feel they are a scam. Each time, the representative called using a fake telephone number from all over Canada (and one from Australia) where the numbers are non-existent when you call back. One representative even claimed they are registered with Canada’s Fintrac, which I know is untrue as Fintrac provides a public search engine in which their company name is not registered. When I challenged that representative that I know he is lying, his only response was they do comply with Fintrac despite being not registered which is complete BS because they are not legally obligated to. One female representative even called me twice stating that she won’t stop calling me until I tell her why I feel their company is a scam. She could simply answer her own question by asking herself why would she even want to do business with someone who thinks they are a scam! BTW, Harry Nelson, which is unlikely his real name, provided me with his WhatsApp number +44 7367 741025 which is a UK based number despite claiming to be located in Quebec City. Based on their actions, I strongly believe they are a bunch of crooks, don’t trade with them.
If any of you get scammed, please post it here and thank the author of this article..
Thanks for the warning. I am in the middle of getting scammed by Virgins Markets which I found out only deals in crypto currency.
Fortunately, a regulated Canadian crypto wallet, Coinberry put a stop to the transfer of large amount of money from my bank into BTC.
I am ashamed to admit that I allowed the trader to use AnyDesk to remote view my bank account. found out how much money I had saved. I am 78 and lostcmost of my life savings when the bonds company I invested in declared insolvency last October. I am barely surviving on a government pension. Thus makes me vulnerable.
I am going to withdraw my original investment, $250USD, ($335 CAD) plus $3000 CAD, which I must admit my trader has already turned into over $6000 USD in two weeks, trading Cardano. He says I can do it next Tuesday.
He says he is on a mission to help people like me get rich so I don’t have to worry about money any more.
He pushed me to ignore the warnings when signing up for Coinberry. Fortunately, they will help me return the money to my bank account. Thanks for the warning.
Same as above got scamed by Markus Green and Joseph Friedman. The application does not work they put random numbers just before calling you.
No information of how they work with your funds. When you try to take money out you will be paying random fees and you will not get them.
The applications that are use to transfer funds are shackpay and oobit
If you got scamed please report.
I made a mistake about this company. I have been working with them for a month, and I have made over $12,000 CAD. They are NOT a scam. In fact they are an excellent company. My financial advisor has been incredibly supportive and has taught me a great deal. We have a trusting relationship that is going to make me even more wealthy than I already am.
My apologies for spreading this erroneous rumour. I should not have jumped to cconclusions based on the negative comments in this thread.
I was wrong. you are missing a fabulous opportunity if you get sucked into the rumour mill.
The clients who wrote these negative comments tried to trade by themselves on this platform and lost their money, and blamed Virgins Markets for their losses.They made the same mistake as myself, and they paid the price. I, on the other hand decided to trust a small amount what happened, and I have now got four times as much as I had a month ago, and headed for even BETTER RESULTS.
Just the same as the others scam! It was pretty hard for me but I’m glad I made my withdrawal possible… They are very good to let you deposit money, but wont even let you withdraw them again. Don’t work with them!
My February 22 post, above, was made at the urging of JOSEPH FRIEDMAN (whose real name, incidentally, is Yosef Farid, who was born in Dubai, November 10, 1985.) He DICTATED what I wrote, word for word after he discovered the authentic post I had written on the scam I have suffered at the hands of Virgins Markets. I was still under the illusion that this was a real trading platform. I made a large amount of money, but when I went to withdraw 2/3 of it and transferred it from their wallet into my own, it disappeared. They said it was being held in an offshore “liquidity provider” until I paid “19% tax” to the Seychelles! And I had to deposit that additional tax into my cryptocurrency wallet before they would release my $250,000 USD!! Of course I didn’t do that. I couldn’t, even if I wanted to. They have cleaned me out. I have lost everything I had. Markus Green (who claims to be the supervisor of Joseph Friedman) called me six weeks later from “Geneva” saying that Friedman and his partner who took over from him, were conmen who had stolen a huge amount of funds from Virgins Markets and took the money and ran back to Dubai and Nigeria, respectively after the Toronto Office was shut down on February 24th. They were involved with Russian cryptocurrency fraudsters. The office was shut down in Toronto the day the war on Ukraine started!