VT Markets, a foreign exchange financial platform, claims to hold overseas regulatory licenses such as the Australian Securities and Investments Commission (ASIC) and the Financial Sector Conduct Authority (FSCA) of South Africa. However, upon verification, its qualifications exhibit significant flaws and exaggerations. Specifically, the Australian ASIC license is actually an Authorised Representative (AR) license granted by itself, with the authorising entity being affiliated with the platform itself. Furthermore, this license only confers securities trading authority and lacks the authority to conduct retail transactions such as foreign exchange and gold trading, being restricted to serving wholesale clients only!

   The South African FSCA license only grants the right to provide financial product advice, but does not confer actual trading qualifications. The platform's engagement in related trading business using this license constitutes a typical act of exceeding its scope of operation. More critically, the platform has not obtained the foreign exchange trading and brokerage qualifications approved by China's financial regulatory authorities. Its promotion of business and attraction of investors through various channels within China violate the provisions of the "Notice on Strictly Investigating and Punishing Illegal Foreign Exchange Futures and Foreign Exchange Deposit Trading Activities," which stipulates that "unauthorized institutions engaging in foreign exchange deposit trading without approval are illegal." It also violates the relevant regulatory requirements of the "Regulations on Foreign Exchange Administration of the People's Republic of China," and crosses the regulatory red line for domestic foreign exchange trading.