VeracityFX Company Overview

　　

Founding Date and Background

　　VeracityFX is a relatively new player in the online trading industry, having been established in 2013. The company was founded with the aim of providing a platform for traders looking to access various financial markets, including forex, commodities, and CFDs. Despite its relatively recent inception, VeracityFX has positioned itself as a global broker catering to diverse trading needs.

　　

Parent Company/Owership Structure

　　VeracityFX operates under the ownership of Veracity Financial Services Pvt Ltd, which is based in India. The company is structured to provide a range of financial services to clients worldwide, although it lacks comprehensive regulation, which is a critical factor for many traders.

　　

Headquarters Location

　　The headquarters of VeracityFX is located at 301 Ashirwad Paras Corporate Road, Prahaladnagar, Ahmedabad - 380015, Gujarat, India. This location serves as the central hub for its operations and customer support services.

　　

Global Business Scope

　　VeracityFX offers its services to clients globally, emphasizing its commitment to providing access to various financial instruments and trading platforms. However, its lack of regulation raises concerns regarding its operational legitimacy in certain markets.

　　

Main Regulatory Bodies

　　Currently, VeracityFX is unregulated. This absence of regulation is a significant drawback, as it may affect the trust and security perceived by potential clients. The lack of oversight from major regulatory bodies means that traders may face higher risks when engaging with the platform.

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Company History and Development

　　

Key Milestones

　　Since its establishment in 2013, VeracityFX has made several attempts to establish itself within the competitive online trading market. However, the absence of regulatory backing has hindered its growth and acceptance among traders.

　　

Business Expansion Journey

　　VeracityFX has aimed to expand its offerings and reach, but its progress has been limited due to regulatory challenges and a lack of a strong market presence compared to established competitors. The company has focused on enhancing its trading platform and customer service to attract a broader client base.

　　

Customer Base Growth

　　While VeracityFX has garnered some attention in the online trading community, its growth in customer base has been slow. The unregulated status and mixed reviews from users have contributed to hesitance among potential clients.

　　

Platform Development History

　　VeracityFX primarily utilizes the MetaTrader 5 (MT5) platform for trading, which is known for its advanced charting capabilities and automated trading options. The platform is available for both mobile and desktop users, providing flexibility for traders on the go.

　　

Important Awards or Recognitions Received

　　As of now, VeracityFX has not received any notable awards or recognitions that would enhance its credibility in the trading industry. The lack of regulatory approval and accolades further limits its appeal.

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Trading Services Offered

　　

Forex Trading Options

　　VeracityFX provides access to a variety of forex trading options, with over 55 currency pairs available for trading. This includes major, minor, and exotic pairs, allowing traders to diversify their portfolios.

　　

Stock Trading Options

　　Currently, VeracityFX does not offer direct stock trading options. Instead, it focuses on providing trading through CFDs, which allows clients to speculate on stock price movements without owning the underlying assets.

　　

CFD Trading Products

　　The company offers a range of CFD trading products, including commodities, indices, and forex. This allows traders to engage in leveraged trading, which can amplify both potential gains and losses.

　　

Other Financial Instruments

　　VeracityFX does not provide access to cryptocurrencies or a wide array of commodities. However, it does offer trading in various commodities such as gold and silver, which are popular among traders looking for safe-haven assets.

　　

Special Services or Unique Advantages

　　One of the unique advantages of VeracityFX is its commitment to competitive spreads, starting from 0 pips in some accounts. Additionally, the platform offers positive slippage, which can benefit traders during volatile market conditions. However, the lack of regulation remains a significant drawback.

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Regulatory and Legal Background

　　

Detailed Regulatory Information

　　VeracityFX currently operates without regulation from any major financial authority. This lack of oversight poses risks for traders, as there is no regulatory body to ensure compliance with industry standards.

　　

Legal Entity Structure by Region

　　The legal entity, Veracity Financial Services Pvt Ltd, is registered in India, but it lacks the necessary regulatory approvals to operate as a broker in many regions. This could limit its ability to serve clients in various jurisdictions.

　　

Client Fund Protection Measures

　　Due to its unregulated status, VeracityFX does not provide robust client fund protection measures. Traders should be cautious, as there is no guarantee of fund safety in case of insolvency or operational issues.

　　

Countries/Regions Served

　　VeracityFX serves clients globally, but its unregulated status may limit its operations in certain countries where strict regulatory compliance is required. Traders from regions with stringent regulations may find it challenging to engage with the platform.

　　

Compliance History

　　VeracityFX has faced scrutiny due to its lack of regulation and the potential risks associated with trading on its platform. As such, it has not established a solid compliance history that would instill confidence among traders.

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Competitive Landscape

　　

3-5 Main Competitors

　　VeracityFX competes with several established brokers in the online trading space, including:

• IC Markets
• OANDA
• FXTM (ForexTime)
• Pepperstone

　　

Positioning in the Industry

　　VeracityFX positions itself as a low-cost trading option with competitive spreads, but its lack of regulation places it at a disadvantage compared to its competitors, many of whom are well-regulated and have established reputations.

　　

Market Differentiation Factors

　　The primary differentiation factors for VeracityFX include its commitment to low trading costs and positive slippage. However, the absence of regulatory backing and mixed reviews from users may hinder its ability to attract and retain clients compared to more reputable brokers.

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　　In conclusion, while VeracityFX offers a range of trading services and competitive conditions, its lack of regulation and mixed reviews present significant risks for potential clients. Traders should carefully consider these factors before engaging with the platform. For those interested in exploring more about online trading and brokers, learn more about the various options available in the market.