VT Markets Review 2023
Previously the concept of stocks, forex, futures, etc., trading was limited to the floors of wall street and big banks. The recent developments in the internet have revolutionized trading and brought it onto the doorsteps of retail traders. It is now possible to open an account from a wide list of brokers and start building up your portfolio in a matter of minutes. The best brokers available are linked with financial exchanges offering tight spreads and some of the best trading software on the market.
LEARN MORE ABOUT THEIR FEATURES
VT market is a regulated broker that recently made its debut in 2016. The company has partnered with some of the top names in the niche, including Goldman Sachs, Citibank, and Deutsche Bank, to provide deep liquidity. Multiple account types, trading software, deposit/withdrawal methods, etc., are available for traders at VT Markets. To get a detailed insight into all the services at hand, we will go through the regulatory measures, supported platforms, user reviews, and customer support of the brokerage.
Regulation and Security
Regulators keep not of all the trading activity of brokers. In case of any fraud or misconduct, heavy fines are imposed on the companies. Due to the strict check and balances, brokerages ensure that they provide the best market conditions for traders.
We urge you to head on to the website’s footer to discover their trading licenses and risks involved.
VT Markets have multiple financial regulations under its belt:
- Australia: Australian Securities and Investment Commission (ASIC)
- South Africa: Financial Sector Conduct Authority (FSCA)
- St Vincent and the Grenadines: Saint Vincent and the Grenadines Financial Services Authority (SVGFSA)*
*Registration only. VT Markets are not regulated by SVGFSA.
VT Markets hold your funds in a segregated account at the Commonwealth Bank of Australia (CBA). The custodian bank is reputable as it is included in the top 20 safest banks worldwide.
VT Markets have indemnity insurance coverage for clients, allowing them to file a civil claim in case of a financial loss. The insurance aim to cover any ligation charges and damages.
Is VT Markets available worldwide?
VT Markets accept clients from nearly all corners of the globe. Unfortunately, US and Canadian traders are not accepted due to regulatory issues.
You may also contact their responsive live chat team to find out if your country is accepted with them. In the unlikely event your country is not accepted by VT Markets, you can compare other established brokers reviews here.
A feature-rich trading software is the main battlefield for traders. Good applications support the best charting features, seamless live feeds, charting functions, algorithmic testing, and more.
VT Markets has partnered with the MetaQuotes cooperation for software support. The specific features of the industry-standard application are as follows:
- MetaTrader 4. The MT4 trading software is popular for many due to its superb simplicity and various functionalities. It supports analysis on 9 different time frames, backtesting functions, mobile, and web trading. The platform is under the eyes of developers to keep it up to date according to the current market conditions.
- MetaTrader 5. MetaTrader 5 (MT5) was released in 2010, 5 years after its elder brother MT4. It comes with advanced trading tools to cater to the needs of professionals. The range of services includes access to 21-time frames, fundamental/technical trading, built-in VPS, custom alerts, and MQL5 coding.
- VT Markets trading app. VT Markets trading application is available on Google and Apple stores. It provides an easy solution for trading on the go with access to 230 + assets, multiple languages, market news, and 24/5 support. Deposits and withdrawals are also supported with the app. Here also, the developers are constantly monitoring the software to provide any potential updates.
VT Markets has multiple account types available to cater to the needs of the general trading community.
Standard STP Account
The standard account is one of the most popular account types amongst brokers. At VT Markets, it comes with variable spreads starting from as low as 1.2 pips. The minimum trade size and deposits are 0.01 lots and $100, respectively. There is no commission charged on trades; it is currently only available with the MT4 platform.
Raw ECN Account
VT Markets do not hedge against their clients’ trades and is not a market-making brokerage. This confirms no conflict of interest between the broker and the trader. With the ECN account, there are zero to minimal spreads. The trading costs are covered with the help of a fixed commission, for example, $6 per round turn.
The minimum trading amount like the standard account is $100. A variety of risk management tools and filters are available to boost your trading portfolio.
USD, GBP, EUR, CAD, and AUD are available as base currencies for both the Standard and Raw ECN account types.
Swap free Account
Specifically catered to the Muslim community, the swap-free account is available via standard and ECN models. No interests are charged on trades held overnight to assist with traders religious beliefs.
As a regulated broker, VT Markets has to verify your credentials. These measures are in place to avoid identity fraud and money laundering. The steps are simple:
- Enter your name, surname, and email address to open an account
- Add the personal details, including an ID number, nationality, and phone number
- Upload your identification documents and apply for verification
- Fund your account and start trading
VT Markets has a simple trading dashboard that includes separate sections for individual features. Traders can access their funds, accounts, pro tools, promotions, and contact customer support. Access to the complete client portal is limited for those with an unverified account, once verified full access is provided.
Deposit and Withdrawals
VT Markets accept a variety of payment and withdrawal options, including USDT, credit/debit cards, international wire transfers, FasaPay, Skrill/Neteller, Google Pay, Apple Pay, and others. Deposit and withdrawal methods will also depend on your region as they may differ slightly for each country.
Traders can deposit funds to your account by logging in to the client portal. The minimum funding amount is $100, and VT Market does not charge any withdrawal or deposit fees. As per the regulatory compliances, funding should be carried out in an account in your name to avoid fraudulent activities.
For cashouts, traders can choose a withdrawal option from the client section and then fill out the form to make a request. Note that the amount displayed represents the sum that is still available for withdrawal after bonus credits have been subtracted. Depending on your chosen method, it can take between 3 to 7 business days for the funds to appear in your account for bank wire transactions. E-wallet and USDT withdrawals are generally much faster, with the typical time allocated for this being 1-3 business days. Although VT Markets don’t charge any withdrawal/deposit fees themselves, there can be processing fees by the payment processors that you decide to use which can typically include:
- International wire transfer: $25
- Fasapay: 0.5% handling fee
- Skrill: 1% handling fee
- Neteller: 2% handling fee
VT Markets feature over 230 instruments for traders within their portfolio. Investors have the option to diversify the portfolio over forex, indices, energy, metals, commodities, and US and UK CFD shares. For most Forex instruments, VT Markets offers up to 1:500 leverage. The maximum leverage available to you will depend on your region and experience.
The available leverage and the spread costs for various instruments are shown below.
Commissions and Fees
The average spreads for major currencies can vary from 1.2 – 2 pips with no commissions being charged for the standard account. For ECN models, the commissions can be as low as $6 for each standard lot (1.00 lot size) traded. The difference between the bid and ask prices can vary according to the trading sessions.
Roll-over fees are applied for positions held overnight. The company does not charge any inactivity fees whatsoever, if the account is left dormant and has zero balance after 90 days the account will simply be closed.
CFD trading offers access to one of the highest leverage in the industry. The use of margin can help open positions with a big lot size. To understand better, let us consider an example of a trader with a $100 balance. With 1:1000 leverage, you will generally be able to open positions worth 1 standard lot size, as 1 standard lot size is equal to 100,000 units of base currency.
VT Markets provide as much as 1:500 leverage for forex while the amount is reduced to <1:50 for stocks. The company does not bear any responsibility for losses incurred while using margin.
Analysis and Education
For both pros and beginners, VT Markets offers a variety of learning and research tools that can aid in producing quality outcomes. It contains a distinct education component that provides video courses, Forex and MT4 guides, and a comprehensive help center with all the platform’s information.
With the help of multiple trading tools, traders can aim to hit their desired financial goals. These tools include the Expert Advisor, Forex signals, Economic calendar, Trading center MT4 tools, calculators, and MAM/PAMM. The platform will walk you through installation, sign-up, deposits, and much more.
The website has an analysis section where you may access various current market scenarios with all the details and choose whether it is the correct time for you to trade. Videos are regularly updated by market professionals.
Traders can contact customer care through a live chat window available 24/5 if you have any inquiries. You may also use the built-in questions or visit the Help Centre for additional assistance.
The company also provides addresses as well as an email firstname.lastname@example.org. The main office is in Australia, with additional offices in Taipei and the Cayman Islands. You can ask for a callback, and someone will get in touch with you. Investors can follow them on several social networking sites, including Facebook, YouTube, and Twitter.
CONNECT WITH THE CUSTOMER SERVICE
Reputation amongst Traders
TrustPilot, a trustworthy third-party website, displays 260 user reviews and has a 3.5/5 average rating. The response from the general community is mixed. One user claims that the site helps by offering the appropriate custom filters. Another trader alleges that the broker is unreliable and not to be trusted.
VT Markets have achieved the following awards since its inception:
- Best mobile app (Forex Division) Europe 2022 by international magazine business
- Best affiliate program global 2022 by UF awards
- Fastest growing broker, Europe 2021 by Global brands magazine
- Best customer service, Europe 2021 by Global brands magazine
VT Markets develops and maintains relationships with several industry-leading firms such as:
- MetaQuotes. The publishers of the famous MT4 platform.
- ChartIQ HTML 5 and data visualization services are made available from chart IQ.
- OneZero Offers liquidity and services infrastructure to VT market traders.
- Trading Central Features investment strategy for traders of all levels.
- Cellxpert A platform dedicated to helping affiliates track their earnings, manage campaigns, and much more.
Can beginners trade with VT Markets?
VT Markets aim to make its services suitable for traders of all levels. With the help of various guides, it seeks to educate the general community and aims to assist beginners in progressing with their trading journey the correct way. The dedicated help center is available to answer any questions you may face.
Within a short span of 6 years, VT Markets has made its name known amongst top financial brokers. This is primarily due to the low spreads and commissions and the superb customer support. Traders should note that the company is only regulated by a single Tier 1 regulator, for example, ASIC. It will only cover a certain number of countries, whereas the majority come under Tier 2 and Tier 3 regulators offering a different regulatory oversight. Overall, they are adequately regulated for the operations they conduct.