Veles International Limited ('VIL') is the Cyprus-based Investment Firm (‘CIF’) regulated by the Cyprus Securities and Exchange Commission ('CySEC') under authorization number CIF075/06 issued on 20 September 2006. In accordance with its license, VIL provides investment services of: (1) Reception and transmission and, (2) Execution of client orders, as well as the ancillary services of: (1) Safekeeping and administration of financial instruments for the account of clients, (2) Granting credits or loans to an investor, and (3) Granting credits or loans to an investor.
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What is Veles International？
Veles International purports to be a financial services provider operating under a suspicious clone license issued by the Cyprus Securities and Exchange Commission (CySEC). As such, Veles International claims to offer a range of brokerage account services, trade solutions, and specialized services for financial institutions with comprehensive suite of educational resources.
Pros & Cons
Pros Diverse range of financial services: Veles International provides brokerage account services and trade solutions, catering to a variety of financial instruments and needs of its clients.
Strong customer support: Multiple support channels such as phone, email, fax, and address, ensure clients can easily reach out for assistance, enhancing the overall service experience.
Cons Suspicious clone license: The company also holds a suspicious clone license from CYSEC, raising concerns about its legitimacy and risks for investors.
Lack of transparency on fees and charges: Specific details regarding account minimums, fees, interest rates on uninvested cash, and other financial terms are not disclosed, affecting client clarity.
Lack of promotions: The absence of promotional offers can make Veles International less attractive to new clients compared to brokers offering sign-up bonuses or reduced fees.
Is Veles International Safe？
Presently, Veles International holds a suspicious clone license under the Cyprus Securities and Exchange Commission (CYSEC), bearing the license number 075/06. This type of license, which allows a company to mimic the services of a legitimate financial entity, raises concerns about the legitimacy and trustworthiness of the company's operations.
What are Securities to Trade with Veles International？
Veles International provides a diverse range of services tailored to meet the varying needs of its clients. Their brokerage account services offer investors access to a wide array of financial instruments, enabling efficient and effective trading. For those seeking comprehensive trading support, Veles International's trade solutions include advanced tools and platforms designed to facilitate seamless execution and management of trades.
Additionally, Veles International offers specialized services for financial institutions, providing expert support and customized solutions to help these organizations navigate the financial markets.
Research & Education
Veles International provides a comprehensive suite of educational resources designed to empower its clients with the knowledge and insights needed for successful investing. Central to their educational offerings is a robust news platform that keeps investors informed about the latest developments in the financial markets. This includes timely updates on market trends, economic events, and company-specific news, which are crucial for making informed investment decisions.
Customer Service
Veles International provides a comprehensive and accessible customer support network. Their support team can be reached through different channels for ultimate convenience.
Address: 23 Kennedy av., Globe House, 5th floor, 1075 Nicosia, Cyprus
Telephone: +357 22 873327
Fax: +357 22 661164
E-Mail: info@veles-int.com
Conclusion
In conclusion, Veles International presents a mixed profile that warrants careful consideration. On the positive side, the firm offers a diverse array of financial services and comprehensive customer channels. However, significant concerns arise from Veles International operating under a suspicious clone license issued by CYSEC. Moreover, the lack of transparency regarding fees and charges, along with the absence of promotional offers, adds to uncertainty for investors.
Now, the ball's in your court when it comes to choosing whether to go with this broker or explore other options. Hopefully, this review has shed some light on your decision-making process.
FAQs
Is Veles International suitable for beginners？
Veles International is not the best choice for beginners due to the lack of detailed fee information and transparency regarding its trading platform.
Is Veles International legit？
Veles International currently holds a suspicious clone license from CYSEC.
What services does Veles International provide？
Veles International offers brokerage account services, trade solutions, and specialized services for financial institutions.
Risk Warning
The information provided is based on WikiStock's expert evaluation of the brokerage's website data and is subject to change. Besides, online trading entails substantial risks, potentially leading to total loss of invested funds, so comprehending associated risks before engaging is crucial.
Cyprus
