VT Markets Review: Is VT Markets a Legit or a Scam Broker?
VT Markets has some confusing information on its website. If you want to know whether you are dealing with a legit and licensed brokerage or yet another bogus scheme, read our VT Markets review.
Website – vtmarkets.com and vantagefx.com
Address – Australia, Cayman Islands, South Africa, Cyprus
Regulation – Claims to be regulated in Australia
Warned By – Financial Services Agency (Japan)
Domain Age –
| Domain Name | vtmarkets.com |
|---|---|
| Date Registered | December 18, 2017 |
| Domain Age | 5 years, 5 months, 28 days, 3 hours, 38 minutes, 9 seconds |
Is VT Markets a legit broker?
Vantage Group operates the Broker. Several entities make up this group, such as Vantage International Group Limited from the Cayman Islands, Vantage Global Prime Pty Ltd from Australia, and Vantage Global Prime LLP from the United Kingdom.
VT Markets is a broker with multiple entities located around the globe in various jurisdictions. Though some of these entities have been licensed by genuine regulators, one of the VT Groups was issued a fine by ASIC due to unauthorized money transactions from a director. Moreover, CIMA (Cayman Islands) is an offshore regulator with lower-tier standards and hence does not have strict regulations or rigorous requirements for obtaining licenses. Thus, it can be said that this broker is regulated across some jurisdictions but has received warnings and many negative reviews. Furthermore, its trading leverage exceeds what’s allowed in EU regulation.
VT Markets Trading Platform
VT Markets offers its clients the convenience of two reliable trading platforms, MetaTrader (MT4 and MT5). It is widely regarded as one of the safest platforms on the market, due to its variety of charts and indicators.
With MetaTrader-4 (MT4), traders can take advantage of rapid execution speeds, low spreads, and a selection of over 200 tradable assets. Clients can take advantage of custom charts and the capability to customize their platform to suit their style of trading, accessible on both desktop and mobile through WebTrader.
In addition, they offer access to MetaTrader-5 (MT5), which provides a more comprehensive approach to trading with added analytic tools as well as access to trade more assets than available on MT4. However, due to it not being available as a web version yet, clients will need to download the app onto either their desktop or mobile device before they can begin trading.
VT Markets Leverages, Fees, and Spreads
The trading conditions for each asset vary with VT Markets. Depending on the asset and the consumer’s preference, leverage can reach up to 1:500 although this is not allowed by both ASIC and FCA. Those who want higher leverage, they have the option of speaking with their broker. As for CFD trades, the charge is $6 per share trade which might be deemed a bit expensive. Their spread for EUR/USD pairs commences at 1.3 pips.
VT Markets Deposit
VT Markets includes bonuses on initial deposits as well, with a minimum deposit of $200. The bonus can be either 20% or 50%, depending on the sum invested. Those investing over $1,000 receive a 20% bonus, while what is required for a 50% bonus has not been made clear. Judging from various VT Markets opinions, it appears that the minimum for this larger bonus may be around $10,000. However, this offer is not just a gesture of kindness; there are strings attached in that funds will be locked and you won’t have access to them during a certain period.
Are you a victim of the VT Markets scam? Get help
If you have been a victim of VT Markets’ scam, be assured that you are not alone. Fraud Brokers have heard several accounts from those in similar positions. Do not feel ashamed; instead, contact us for a free consultation to discuss your experience and learn how you can reclaim your funds. Don’t let these fraudsters get away with your money!
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