Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
6/10 · HighLicence confirmed in force on the issuer's own register and matched to this firm on name, address and website, but it is a single low-tier offshore Securities Dealer licence with no compensation scheme, and clients appear to be served in the UK and Europe where it means nothing.
Identity & transparency
3/10 · LowLegal entity, company number and both addresses are disclosed and agree with the regulator's register and the LEI record, and LinkedIn matches the domain; against that, no directors or owners are named and the contact page carries no phone or email.
Withdrawals & conduct
5/10 · ModerateThree fund-integrity reports on two platforms describing the same failure, one alleging repeated extra fees and a blocked account, but none carries amounts, dates or ticket numbers, they span six months rather than one window, and the firm answers and disputes them.
Reputation
4/10 · ModerateNet positive but thin and lopsided at 22 Trustpilot reviews with same-day five-star clusters and an empty middle; no regulator warning on the global aggregator, and independent recognition from MetaQuotes and the UF AWARDS winners list.
Website claims
6/10 · HighThe licence number, entity and awards all check out, but the site presents an unevidenced Lloyds of London insurance of client funds as protection, calls a single offshore licence highly regulated, and runs retail testimonials from London, Barcelona and the Netherlands beside a notice that it does not serve the UK or Europe.
Operational history
4/10 · ModerateVerified at about three and a half years from the 5 May 2023 incorporation and the April 2023 domain; the 2012 .com domain adds no history because it was a for-sale parking page in 2018, and to the firm's credit it advertises no longer track record.
Who they are
A quick desk file on the company behind the brand.
- Brand: VS Capital (trade name VS CAPITAL as recorded on the Seychelles register)
- Legal entity: VS Capital Limited, a Seychelles company limited by shares, business registry number C8434958 (published by the firm as reference 8434958-1), LEI 9845007PA9E5452CE452, status active
- Incorporated: 5 May 2023, Seychelles
- Registered: CT House, Office No. 9A, Providence, Mahe, Seychelles
- Operating office: Office No. A19.E, Providence Complex Building, Plot No. V16050/V16051, Providence, Mahe, Seychelles. This is the address the regulator records, which is a point in the firm's favour.
- Website: vscapital.com, with vscapital.io redirecting to it. The regulator's own entry records vscapital.io and the phone number +248 4377183.
- Only licence: Seychelles FSA Securities Dealer, licence number SD179, held by VS Capital Limited. No tier-one or tier-two licence anywhere.
- Offers: CFDs on more than 300 instruments covering forex, crypto, stocks, indices, commodities and ETFs, on MetaTrader 5 and Trader Evolution. It also sells crypto CFD liquidity to other brokers.
- Not accepted: the firm states its services are not directed at residents of the United States, the UK or Europe.
- Age claim: none. The site advertises no founding year, and its verified age, about three and a half years, matches the 2023 incorporation.
- People: no directors, owners or executives are named anywhere on the site. LinkedIn lists the company at 11 to 50 employees.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
The Seychelles Financial Services Authority (FSA)
Why we reached this verdict
How the evidence adds up.
High risk, not scam. The regulatory core of this broker survives every check we ran, and the problems sit around it rather than inside it.
- It is not a clone, which rules out the worst case. The Seychelles FSA capital markets register lists VS Capital Limited as a Securities Dealer. The register prints the office address Office No: A19.E, Providence Complex, the trade name VS CAPITAL, the phone number and the website vscapital.io. All of that matches what the firm publishes. This is the firm's own licence, not a number lifted from someone else.
- No regulator is warning about it. A keyword search of IOSCO's I-SCAN, which aggregates the alert lists of more than 150 regulators including the FCA, CONSOB, CNMV, ASIC and Belgium's FSMA, returns no warnings matching VS Capital or vscapital. There is no enforcement action and no fraud-related court record naming this entity.
- The company is real and independently visible. Its LEI record cites the Seychelles Business Registry and shows the entity active since 5 May 2023 at the registered address the site publishes. MetaQuotes, the vendor behind MetaTrader 5, published its own announcement on 23 March 2026 that VS Capital joined its Ultency liquidity network, naming vscapital.io. The UF AWARDS Global 2025 winners list, published 25 June 2025, records Best Crypto Liquidity Provider, Global: VS Capital. The awards on the site are real, which is unusual among the brokers we review.
- What pulls the score up, first: the firm serves exactly the regions it says it does not. The footer states the services are not directed at citizens or residents of the United States, the UK or Europe. The same homepage carries retail testimonials attributed to London, Barcelona and the Netherlands, and the review footprint is overwhelmingly Dutch, Belgian, Bulgarian, German, British and French. Either the firm takes European and British retail clients contrary to its own disclaimer, in which case a Seychelles licence gives those clients nothing, or the testimonials are invented. Neither reading is good.
- Second: three reports of money not coming back. A one-star Trustpilot review dated 22 July 2026, describing an April 2026 experience, says the first withdrawal in the trial period went straight through, then came constant extra fees, no way to withdraw the gains, and a blocked account. On a second review site, a user in Greece wrote on 25 November 2025 that withdrawals are heavily delayed and support keeps saying processing, and a user in Panama asked on 5 December 2025 why they cannot withdraw. Three people, two platforms, one mechanism.
- We are not treating that as proven. None of the three gives an amount, a transaction date, a ticket number or a wallet address, and they are spread across six months rather than clustered in one freeze window. VS Capital replied publicly to the French review and said it could locate no client account matching the name or email. On our pattern test that is two of four axes met, so the pattern is unconfirmed and it cannot carry a scam verdict. It is still the single most important thing a prospective client should weigh, because a demand for further payment before funds are released has no legitimate counterpart.
- Third: an unsubstantiated protection claim. The site tells visitors that all client funds are held in segregated accounts and insured by Lloyds of London. Lloyds is an insurance market rather than an insurer, and firms that genuinely hold such cover normally publish the policy or the underwriter. VS Capital publishes neither. A retail reader will take that sentence as deposit protection, and we could not confirm any of it.
- Fourth: the track record is short, and the older-looking domain does not extend it. vscapital.io was registered on 11 April 2023 and the company incorporated on 5 May 2023. vscapital.com dates from 12 July 2012, but an archived copy from 1 November 2018 shows it as a for-sale parking page, and trading content appears on it only from 2026. The operating record is therefore about three and a half years, not fourteen. To the firm's credit it never claims otherwise.
- A thin and lopsided review base. Twenty-two Trustpilot reviews, 91% five-star, nothing at two or three stars, with clusters of five-star entries posted on the same day by accounts holding a single lifetime review. That shape is a prompt for caution, not evidence of theft, and a flood of praise is never exculpatory.
- On the arithmetic: regulation 6, identity and transparency 3, withdrawal complaints 5, reputation 4, website claims 6, operational history 4, weighted with regulation and identity double, gives 46%. No evidence floor applies, because there is no hard incriminating item and only one strong one. No profile floor applies either: the track record clears three years and there is a real, if thin, community footprint.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Seychelles Financial Services Authority lists VS Capital Limited on its Securities Dealer register, printing the office address Office No: A19.E, Providence Complex, Providence Mahe, the trade name VS CAPITAL, the phone number +248 4377183 and the website vscapital.io.
E2The register's recorded entity name, operating address, phone and website all match what vscapital.com publishes, so licence SD179 belongs to this operation and not to another firm.
E3The LEI record for VS Capital Limited cites the Seychelles Business Registry, registration C8434958, entity legal form company limited by shares, status active, entity created 5 May 2023, registered at CT House, Office No. 9A, Providence, Mahe. This matches the reference 8434958-1 the firm publishes.
E4A keyword search of IOSCO's I-SCAN, which aggregates the warning and alert lists of more than 150 member regulators, returns no warnings matching VS Capital or vscapital.
ModerateIOSCO I-SCAN, keyword searchE5A one-star review dated 22 July 2026, for an experience of 15 April 2026, states that the first withdrawal in the trial period went straight through but then came constant extra fees, no possibility of withdrawing the gains, and that the client is now blocked having spent a lot of money. VS Capital replied on 4 August 2026 that it could locate no client account matching the name or email.
E6Two further fund-access reports on a second review platform: a user in Greece on 25 November 2025 saying withdrawals are heavily delayed and support keeps saying processing, and a user in Panama on 5 December 2025 asking why they cannot withdraw their money.
E7The site states its services are not directed at citizens or residents of the United States, the UK or Europe, yet the same homepage carries retail testimonials attributed to Barcelona, London and the Netherlands, and the firm's review base is largely Dutch, Belgian, Bulgarian, German, British and French. Either European and British retail clients are being served outside any protective licence, or the testimonials are not genuine.
E8The homepage tells visitors that all VS Capital client funds are held in segregated accounts and insured by Lloyds of London, and the partnerships page repeats it. No policy number, no underwriter and no certificate is published anywhere on the site, so the protection cannot be checked.
E9The vscapital.io domain, which is the website the regulator records, was registered on 11 April 2023, consistent with a business that began in 2023.
E10The vscapital.com domain was registered on 12 July 2012, more than a decade before the company existed, with its record last changed on 3 July 2026.
E11An archived copy of vscapital.com from 1 November 2018 shows a parking page advertising the domain for sale, so the older registration date carries no trading history and does not extend the firm's track record. No earlier broker brand ever occupied the domain.
E12MetaQuotes, the vendor behind MetaTrader 5, published its own announcement on 23 March 2026 that VS Capital joined its Ultency network to supply liquidity inside MetaTrader 5, describing it as a regulated financial services firm and naming vscapital.io. The firm also runs its own MT5 server under a full platform licence.
ModerateMetaQuotes company newsE13The award the site advertises is real: the UF AWARDS Global 2025 winners list, published 25 June 2025, records Best Crypto Liquidity Provider, Global: VS Capital.
E14The Trustpilot profile for vscapital.com, claimed in June 2026, carries 22 reviews at 4.4 out of 5: 91% five-star, 4% four-star, nothing at three or two stars and 5% one-star, with several five-star entries posted on the same day by accounts holding a single lifetime review. The firm has replied to 100% of negative reviews.
E15The only external link anywhere on the VS Capital homepage is its LinkedIn page. There is no verify link to the regulator's register beside the SD179 claim, so a visitor cannot check the licence from the page that asserts it.
E16The company's LinkedIn page lists its website as vscapital.com and its size as 11 to 50 employees, consistent with the small operation the site describes and with no overstated headcount claim.
The other side
The strongest case in this broker’s favour.
The case for VS Capital deserves to be put properly, because several of its credentials are better than the offshore average.
- The licence is genuine and it is theirs. Most brokers we investigate fail this. VS Capital Limited appears on the regulator's own list with a matching address, a matching trade name and a matching website. A Seychelles Securities Dealer licence also requires paid-up capital of USD 100,000 and audited accounts, so it is not a rubber stamp in the way some island registrations are.
- Independent third parties confirm a working business. MetaQuotes announced the Ultency liquidity integration itself, and the firm runs its own MetaTrader 5 server under a full MT5 licence. Shell operations do not get vendor press releases or their own licensed trading server. The UF AWARDS win is on the published winners list, not just on the broker's own page.
- The paperwork is consistent, which is rare in a scam. The entity name, the company number, the registered address and the operating address agree across the broker's own site, the regulator's register and the LEI record. Clones and boiler rooms almost always leak a mismatch somewhere.
- The complaints may be unrepresentative. Three fund-access reports against twenty-one positive ones is not the profile of a withdrawal trap, and none of the three carries checkable detail. The firm answers negative reviews publicly, has replied to all of them, and on the French one it gave a specific, falsifiable answer: no account matches that name or email. Clients of a genuine broker do also post that they could not withdraw, often because verification was incomplete or a bonus condition was unmet. One Trustpilot reviewer describes a 25 dollar no-deposit bonus that only becomes withdrawable after six months, which is exactly the kind of term that produces an honest but angry withdrawal complaint.
- The European client base has an innocent reading. VS Capital is partly a business-to-business liquidity provider, and several of the Dutch and Belgian reviews read like partners or introducing brokers rather than retail clients, referring to statements, software and working relationships. An offshore firm can legitimately have European institutional counterparties while not soliciting European retail.
- It does not inflate its history. There is no since-2010 banner on a 2023 company. The computed age matches the age third parties report.
- No hidden past has come to light. No predecessor brand, no earlier legal entity, no warning-list history attached to the people or the address, and no sign that the aged .com domain ever hosted a different broker. The earlier use was a parked page offering the domain for sale.
What would change this
What we would need to see to revise the verdict.
This verdict is a snapshot of a young offshore broker, and specific, checkable things would move it in either direction.
- Toward a scam verdict: two or three more fund-integrity reports carrying real detail, amounts, dates, ticket numbers or wallet addresses, clustered in one window and describing the same demand for extra payment before release. That would pass the pattern test and take this into likely-scam territory on its own.
- Toward a scam verdict: any regulator alert naming vscapital.com or vscapital.io, or a Seychelles FSA enforcement notice against VS Capital Limited. An exact-domain warning is decisive.
- Toward a scam verdict: the SD179 licence being shown as suspended, lapsed or cancelled while the site still advertises it, or the firm disappearing from the FSA Securities Dealer list.
- Toward a scam verdict: evidence that the Lloyds of London insurance statement is false rather than merely unevidenced, for example an insurer confirming no such cover exists.
- Toward a lower risk score: publication of the actual insurance policy or the underwriter's confirmation, so the client-fund protection claim can be checked rather than taken on trust.
- Toward a lower risk score: naming the directors and the beneficial owners, and publishing a support phone number and email on the contact page. Right now a client cannot see who stands behind the company.
- Toward a lower risk score: a verify link beside the SD179 claim pointing to the regulator's register, and either dropping the retail testimonials from London, Barcelona and the Netherlands or dropping the claim that the service is not directed at the UK and Europe. The two cannot both be true.
- Toward a lower risk score: two more years of operation with a broader, organically dated review base and no new fund-access reports. Most of the remaining risk comes from the firm being new and small.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Seychelles FSA register, Securities Dealer list
Open the Securities Dealer tab and look for VS Capital Limited, with its address, phone and website.
GLEIF LEI record for VS Capital Limited
Confirms the company exists, is active, and was created on 5 May 2023. Company existence, not a trading licence.
IOSCO I-SCAN global warning search
Checks the alert lists of more than 150 regulators at once. No warning matches this firm.
Trustpilot reviews for vscapital.com
Read the one-star review and the company's reply before you deposit.
Independent review and user reports
Carries the two 2025 user reports about withdrawals left in processing.
MetaQuotes announcement naming VS Capital
The MetaTrader 5 vendor's own confirmation that the firm supplies liquidity in its network.
Frequently asked questions
Quick answers about this broker’s safety.
Is VS Capital a scam?
No, not on the evidence we have. VS Capital Limited holds a genuine Seychelles Financial Services Authority Securities Dealer licence that is confirmed on the regulator's own register, and no regulator anywhere warns against the firm. We still rate it 46% risk and label it high risk, because the company is only about three and a half years old, its only licence is a low-tier offshore one, and three clients have reported money they could not withdraw.
Is VS Capital a fraud?
We found no evidence of fraud. There is no regulator warning naming VS Capital or its websites, no enforcement action, and no fraud-related court record against VS Capital Limited. That includes IOSCO's I-SCAN, which aggregates the alert lists of more than 150 regulators. One client review alleges repeated extra fees and a blocked account, which is a serious allegation, but it carries no checkable detail and the firm publicly disputes that any such account exists.
Is VS Capital regulated?
Yes, but only in Seychelles. The Seychelles Financial Services Authority lists VS Capital Limited as a licensed Securities Dealer, and the licence number the firm publishes is SD179. That is a real statutory licence requiring paid-up capital of USD 100,000 and audited accounts. It is not a tier-one licence like the FCA or ASIC, and it comes with no investor compensation scheme.
Can I withdraw my money from VS Capital?
Most clients who leave reviews say they can, but three say they could not. One in France reported that the first withdrawal went through and then came constant extra fees, no access to profits and a blocked account. Two others reported withdrawals sitting in processing. Test the withdrawal path with a small amount first, complete verification fully, and keep records of every request.
Is my money safe with VS Capital?
Treat it as unprotected. The firm says client funds are held in segregated accounts and insured by Lloyds of London, but it publishes no policy, no underwriter and no certificate, so none of that can be checked. A Seychelles Securities Dealer licence carries no compensation scheme, so if the firm failed there would be no fund to claim from.
Who owns VS Capital?
The firm does not say. VS Capital Limited is a Seychelles company limited by shares, business registry number C8434958, incorporated on 5 May 2023, with an active LEI. No directors, shareholders or executives are named on the website, and Seychelles publishes no public company search, so ownership could not be established.
How old is VS Capital?
About three and a half years. VS Capital Limited was incorporated on 5 May 2023 and the vscapital.io domain was registered on 11 April 2023. The vscapital.com domain is older, registered in 2012, but it was a for-sale parking page as late as November 2018 and carries broker content only from 2026, so it does not give the business a longer history.
What is a Seychelles FSA licence actually worth?
Less than it sounds. It is a genuine licence from a real statutory regulator with a public register, which puts it above the paper registrations sold by some island authorities. But it is offshore and low tier: there is no compensation scheme, no local recourse for clients outside Seychelles, and the regulator does not supervise conduct the way the FCA or ASIC does. The firm calling itself a highly regulated company overstates it.
Is VS Capital a clone of another broker?
No. Its identity matches the register. The Seychelles register entry names VS Capital Limited at Office No. A19.E, Providence Complex, records the trade name VS CAPITAL, the phone number and the website vscapital.io, and all of that matches what the firm publishes. The licence is this firm's own, not a number borrowed from a regulated company.
Can I trade with VS Capital if I live in the UK or the EU?
The firm's own website says its services are not directed at residents of the United States, the UK or Europe, so you should use a broker licensed where you live. Oddly, the same homepage carries retail testimonials attributed to London, Barcelona and the Netherlands, and the review base is largely Dutch, Belgian, Bulgarian, German, British and French. If you deposit from the UK or the EU, you do so outside any licence that protects you.
Are the VS Capital awards real?
Yes, at least the main one. The UF AWARDS Global 2025 winners list, published on 25 June 2025, records Best Crypto Liquidity Provider, Global: VS Capital. MetaQuotes, the vendor behind MetaTrader 5, also published its own announcement on 23 March 2026 that VS Capital joined its Ultency liquidity network. Verified awards are unusual among high-risk brokers, and we have credited them.
Why are nearly all the reviews five stars?
Twenty-two Trustpilot reviews, 91% of them five stars, nothing at two or three stars, and clusters posted on the same day by accounts with a single lifetime review. That shape is a reason for caution rather than reassurance. A thin, lopsided review base tells you little, and a flood of praise never cancels out a specific complaint.
What should I check before depositing with VS Capital?
Four things. Confirm VS Capital Limited is still on the Seychelles FSA Securities Dealer list. Read the one-star Trustpilot review and the company's reply. Ask in writing for the Lloyds of London policy details and the names of the directors. Then deposit the minimum, verify fully, and test a withdrawal before committing more.
What do I do if VS Capital will not release my funds?
File a written complaint under the firm's complaint handling policy and keep the reply. Then escalate to the Seychelles Financial Services Authority at enquiries@fsaseychelles.sc, quoting VS Capital Limited and licence SD179. If you paid by card, ask your bank about a chargeback immediately. Never pay a fee to release your own money, and ignore anyone who offers to recover it for an upfront payment.
What we recommend
The practical takeaway from everything above.
Treat VS Capital as a high-risk offshore broker. It is not a confirmed scam, and it is not a safe place for money you cannot afford to lose.
- Check the licence yourself before anything else. Open the Seychelles FSA capital markets register, go to the Securities Dealer tab, and confirm VS Capital Limited is still listed. Note that the regulator's published list names its licensees without printing their licence numbers, so the SD179 number itself rests on the firm's own disclosure and third-party records.
- If you live in the UK, the European Union or the United States, use a broker licensed where you live. VS Capital's own site says its services are not directed at you, and a Seychelles licence gives you no local regulator to complain to and no compensation scheme.
- Do not treat the Lloyds of London sentence as protection. No policy, insurer or certificate is published. Assume your deposit is unprotected unless the firm shows you the cover in writing.
- Test the withdrawal path early and small. Deposit the minimum, complete verification fully, trade briefly, then withdraw to the same method you deposited from, and keep every screenshot, ticket number and timestamp. The reported failures all appear after the first successful payout, so one clean withdrawal is not proof.
- Never pay a fee, tax, insurance or verification charge to release your own funds. No legitimate broker requires that. If you are asked, stop depositing, record the request and raise a dispute immediately.
- Avoid the bonus. A no-deposit credit that only becomes withdrawable months later ties up your account for the firm's benefit, not yours.
- If you are already stuck: file a written complaint under the firm's complaint handling policy, keep the reply, then escalate to the Seychelles Financial Services Authority at enquiries@fsaseychelles.sc quoting licence SD179 and VS Capital Limited. If you funded by card, ask your bank about a chargeback straight away, and ignore anyone who offers to recover your money for an upfront fee.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 11, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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