Velos Technology
We checked Velos Technology against the AskCheck register. It has been reported (2022) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
Velos Technology claims to be a leading broker with authorizations and regulations issued by the US National Futures Association (NFA) with license number 0550253 and the Financial Crimes Enforcement Network (FinCEN) under an MSB license 31000220901190. First, please be informed that FinCEN is not a regulatory body that regulates entities engaging in forex. Having an MSB license does not mean having any valid regulations. Second, we indeed found a matching result in NFA's registry, however, Velos Technology is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, Velos Technology doesn't satisfy these conditions. The truth is that Velos Technology is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report Velos Technology.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.