On March 31, 2023, the British Columbia Securities Commission (BCSC) issued a warning against VIPTRADE, stating that this broker is not registered to trade in, or advise on, securities or derivatives in BC: https://www.bcsc.bc.ca/enforcement/early-intervention/investment-caution-list/2023/viptrade

VIPTRADE claims to be registered in St. Vincent and Grenadines with license number 384 LLC 2020. However, our search for this broker in the Financial Services Authority of St. Vincent and Grenadines (SVG FSA) registry did not yield matching results. That means what it claims is a false statement to unsuspecting investors. VIPTRADE also claims that it is in line with the legislative framework in Saint Vincent and the Grenadines. But one must keep in mind that this place is an offshore center and its financial regulator SVG FSA doesn't issue forex licenses nor regulate forex trading. In addition, the British Columbia Securities Commission (BCSC) has issued a warning against VIPTRADE, stating that this broker is not registered to trade in, or advise on, securities or derivatives in BC.

In essence, VIPTRADE is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.