In this comprehensive VT Markets review, we take an in-depth look at this Forex broker, evaluating its features, trading platforms, customer service, and more. Whether you are a beginner or an experienced trader, this review will help you make an informed decision about VT Markets.
In the past, only the largest of financial corporations, mainly banks, had the ability to partake in the Forex market. Nowadays, more people than ever have access to this well-known marketplace. Unfortunately, many individuals have taken advantage of this, and it has been causing a great deal of distress for some people.
The foreign exchange market is one of the riskiest in the world, and without proper safety measures, it can be a very treacherous place. There are countless scam companies around the world that are trying to swindle investors out of their hard-earned money. To do this, they are making very convincing brokers, some of which even obtain the necessary permits.
In this article, we will be taking a closer look at VT Markets, a Forex broker who has some suspicious aspects. We will be going through the reviewing process and discussing the various factors that have raised our suspicions. To get a better understanding of this broker, read through this comprehensive review.
A Quick Look at VT Markets
VT Markets is a financial services company that was established in 2006. It has since established itself as a major player in the CFD and Forex trading industry, providing customers with access to a variety of markets, trading tools and educational resources. The company’s mission is to provide traders with the best possible trading experience, offering competitive pricing, fast order execution and reliable customer service.
The Forex broker, situated in Australia, was set up in 2016 and is attempting to become internationally known. This platform provides hundreds of trading assets and uses the MetaTrader 4 trading platform, as well as a web-based version called WebTrader.
MetaQuotes, a Russian firm, created some of the most renowned trading platforms. One of the latest additions being MetaTrader 5. Although there were not many issues in regard to the platforms, there were various shortcomings with the rest of the services. As the company is ever-evolving and striving to better its services, we will assess its features and point out what needs to be improved.
An image of the primary page of VT Markets is depicted. It displays the services and features that the company provides.
Ensuring the wellbeing and protection of VT Markets
VT Markets, a broker registered in Australia, previously claimed to have a CIMA license from the Cayman Islands Monetary Authority. Nevertheless, the broker modernized its licenses and obtained various permits from reliable Forex regulators, such as Australia ASIC and South Africa FSCA. These regulators hold more respectability and trustworthiness than the original license and should help VT Markets to become one of the few brokers that are regulated properly.
Due to a lack of stringent regulations, many brokers have opted to register with regulatory bodies; however, this has caused numerous issues for investors. Examining the VT Markets broker, we discovered that it does offer negative balance protection, yet the broker failed to mention this. We contacted the live chat and were informed that the broker does, in fact, provide this protection, which was great news.
Globally, regulatory bodies have implemented this policy to protect investors, and it appears this broker is doing the same with its services.
VT Markets Charges and Margins
VT Markets imposes various fees and spreads which are essential for traders to be aware of. It is important to keep in mind that these can vary depending on the type of account a trader has.
VT Markets’ spreads can be seen as average, with the major pairs beginning at 1.2 pips and fluctuating according to market volatility. It is suggested that traders take extra precaution when trading during key news releases. However, the commission for the zero-spread accounts is lower than industry standard, which is beneficial for scalpers. Scalpers, who are traders that aim for multiple small profits during the day, need low spreads in order to be successful. VT Markets offers spreads starting at 0 pips and a commission of 6 USD per round turn, which scalpers will likely find attractive.
Opening Accounts, Adding Funds, and Withdrawing Money with VT Markets
VT Markets, originally only providing a single trading account for all customers, now offers a variety of choices. The three options available are:
- STP as Usual
- ECN in its Natural Form
- Trading Without Swaps
The regular account intended mainly for investors and day traders offers free of charge trading, although it comes with spreads. The spreads for major pairs begin at 1.2 pips, being more costly than the normal industry rate of 1 pip.
Those who want to take advantage of tight spreads, but are willing to pay a commission, the RAW ECN account is ideal. Scalpers will find the 0.0 pip spreads especially attractive. Moreover, the commission is 6 USD round-turn, which is cheaper than the industry standard of 7 USD round-turn. Islamic traders can also benefit from this account type, as the swap-free option allows them to trade without compromising their beliefs.
Depositing and withdrawing with VT Markets
The broker offers various deposit and withdrawal options, including Visa/MasterCard, wire transfers, Neteller, Skrill, UnionPay, Fasapay, Alipay, and some popular cryptocurrencies. All transfer fees are taken care of by the broker, making deposits and withdrawals free of cost. This is a great advantage since some new brokers tend to impose high fees on withdrawals. To receive funds quickly, the best choice is to go with cryptocurrency payment methods.
The VT Markets offer different assets and features for trading.
VT Markets is a source which offers many potential investments for traders to take part in. These include:
- Exchange rates between different currencies
- Value of financial assets such as stocks, bonds, and other securities
- Digital currencies
- Soft commodities such as wheat, oil, and sugar
- Contracts for Difference
- Energy products such as crude oil and natural gas
We were quite taken aback by the broker’s statement that they had no additional fees or commissions, and the spreads they offered were in line with the industry standard of 1.2 pips for major currency pairs.
It is essential for Forex brokers to receive money as they have to provide a secure platform for investors, and this is done through commissions and fees. If a broker claims to not have any fees, it is an untruth as there must be other methods used to obtain funding. Dozens of individuals work hard to create a safe environment and must be remunerated for their efforts.
Utilizing leverage can be tailored to fit different circumstances
Examination of VT Markets has revealed they provide three trading accounts. This is in line with the majority of brokers in the contemporary Forex market, all of whom have multiple account varieties for a variety of investors.
With Forex trading, you can get up to a leverage of 1:500. While this is great for experienced traders, it is also quite risky for those who don’t have much knowledge in the area. High leverage provides a great potential for generating large profits, but also has the capacity to lead to huge losses. Therefore, it is suggested that those who are inexperienced in trading avoid using a high leverage.
VT Market’s web presence
Following an extensive evaluation of FX broker VT Markets, it became apparent that their website had improved significantly over time. Initially, it was not up to par, yet upon examination for the required information, all of it was readily accessible. Everything we needed to know was found on the site.
When attempting to access the right-side drop-down menu, the website experiences a few issues. However, it remains responsive and user-friendly. The broker achieved a notably better result than when the site was initially launched due to its recent adjustments. This is a commendable effort on the part of the broker.
What is the best way to get in touch with the Customer Support Team?
When it comes to Forex trading, there are lots of potential issues that may arise. For this reason, the top Forex brokers around the world provide a very beneficial and professional customer service team available 24/5. VT Markets, for instance, say their customer service team is professional, and this was confirmed when we contacted them. Their live chat has a lot of features and the bot is able to provide significant details. If traders have any more questions, representatives can be reached with a simple click of a button and their team are always polite and reply to queries promptly. Other contact methods include email and hotline, but the live chat is the most convenient way of resolving any problems quickly.
What sort of learning resources does this broker provide?
VT Markets, in compliance with the regulations of the top-tier regulatory bodies in the world, supplies investors with a wide range of educational materials. They provide various tools, such as Expert Advisors, Forex signals, economic calendar, and Trading Central MT4/MT5 tools. and MAMM/PAMM, as well as a daily market analysis. Of the educational resources, the most notable are the Forex guide, MT4 guide, and Trading Central guides. Although the educational materials are not very diverse and abundant, the broker still attempts to assist traders in understanding their trading platform and tools.
Is this broker VT Markets worth examining?
We put in a lot of effort into this review and we discovered that this Forex broker has made great strides. We think that trading with them is highly recommended due to the numerous positive aspects. The spreads are standard and they offer two account types that all traders can choose from, as well as an Islamic account. So, VT Markets is making sure that everyone can find what they need in terms of accounts and assets.
We strongly suggest that you only conduct Forex trading with a dependable and secure broker in order to ensure you don’t suffer any substantial financial losses due to the inherently risky nature of the market.
To put it plainly, VT Markets has managed to endure the fiercely competitive landscape of Forex brokers and has made strides in improving its website and support. Despite there being other, more superior brokers, VT Markets still offers a good value for traders.
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Read this comprehensive analysis of VT Markets Forex Broker to learn about their features, trading platforms, customer service, and more before making a decision.