VT Markets has some confusing information on their website. If you want to know whether you are dealing with a legit and licensed brokerage or yet another bogus scheme, read our honest VT Markets review.
We’ve unveiled the truth behind the scenes!
|Regulated by:||CIMA, ASIC, FCA|
|Scammers Websites:||VTMarkets.com and VantageFX.com|
|Operating Status:||Alleged Forex Trading Scam|
|Blacklisted as a Scam by:||CNMV (Spain)|
|Broker Owner:||Vantage Group|
|Online Trading Platforms:||MT4, MT5|
|Crypto Assets:||Not Available|
|Available Trading Assets:||FX (Currency pairs), Commodities, Indices, Shares|
|Free Demo Account:||Yes|
|Accepts US Clients:||US traders are not accepted|
|Global Fraud Protection Brokers Analyst Team Verdict:||Beware of This Broker!|
VT Markets Regulation and Licensing – Is the Broker Legit?
Broker has been operated by Vantage Group. In this group, we have several entities – Vantage International Group Limited from the Cayman Islands, Vantage Global Prime Pty Ltd from Australia, and Vantage Global Prime LLP from the UK. All of these three entities are regulated by the country’s official regulatory body.
So, what is the issue with VT Markets regulation?
Questions about VT Markets License – Reputation Problems
First of all, VT Markets brokerage forces its CIMA regulation as the primary. Since it’s offshore and not a reputable regulation, we had to wonder why. After a bit more checking, we’ve discovered that ASIC has fined the company for unlawful activities – one of the directors was stealing money from clients. If a company did it once, who can guarantee it won’t do it again. As per the FCA regulation, it belongs to VT Markets payment agent, not brokerage.
Basically, as for the question if company is regulated, we can say yes, but not in a good way.
- By the way, If you already deposited your money with Amana Capital or Kiplar, but cannot get it back – we can try to help you!
The CNMV (Spain) was the first regulatory body to issue anagainst the VT Markets broker.
VT Markets Trading Platform Review
VT Markets trading platform offer consists of MT4 and MT5. We appreciate seeing MetaTrader as it’s the most secure platform in the industry with the highest number of charts and indicators.
VT Markets MT4 – MetaTrader 4 Platform
VT Markets MT4 offers clients fast order execution, low spreads, and over 200 trading assets. Clients can customize their charts and adjust the platform to their trading style. The platform is available in desktop and mobile versions, also as a WebTrader.
MT5 – MetaTrader 5 Platform
Besides MT4, the broker provides MetaTrader next-generation MT5. This platform allows users to build their own trading strategy, trade more assets than available on MT4 and has additional analytic tools. However, it’s not available in the web version, meaning clients will need to download the app to a desktop or mobile device.
VT Markets App – Is There Any Forex Trading App?
VT Markets traders have the option to download MT4 or MT5 from the official MetaQuotex website and use it on their mobile devices. Another option is to use the link provided on the broker’s website. The app is available for both iOS and Android phones.
According to the broker’s website, it doesn’t provide financial services in North Korea and the US, along with several other regions where the law has prohibited trading. However, the company doesn’t specifically list these regions, meaning you could easily open an account and discover you’ve been conducting a felony.
- Before we move forward, we encourage you to read our recently updated Primefin and PrimeXBT broker reviews.
VT Markets Trading Instruments – What Can I Trade?
According to the website, there are 230+ trading assets that include:
- 40+ currency pairs are available on the MT4 – EUR/USD, CHF/USD
- 15+ world indices – S&P500, NIKKEI225
- 11 commodities – gold, oil, coffee
- 56 CFD shares from US and HK markets
Notably, cryptocurrencies are missing from this list.
Spreads, Leverages & Fees
Every asset brings its own trading conditions. VT Markets leverage varies based on the assets and clients’ preferences. According to the website, leverage goes up to 1:500, which ASIC and FCA prohibit. However, if clients are interested in increasing their leverage, they can simply contact the broker.
Also, the fee for CFD trading is $6 per share trade, which is a bit high. The spread starts with 1.3 pips for EUR/USD pairs. However, clients can choose a RAW spread account and enjoy an account with no spread and higher commissions.
VT Markets Trading Accounts – Account Types
This online trading company offers two basic account types:
- STP account
- RAW ECN account
As you can already guess, the main difference between these two account types is in the provided spread. Standard STP account starts from $0 of commission and 1.3 pips for EUR/USD pair, while RAW ECN account begins from 0.0 pips spread and $6 per round trade commission. Both accounts are available on MT4 only, which has led to multiple VT Markets complaints from those who prefer MT5.
VT Markets Demo Account
Besides standard account types, the broker offers an Islamic swap-free account and a Demo account. There’s not much information on the Demo, just a plain form to fill in and see what’s waiting for you there. However, it is a free account that gives you a chance to test the platform.
VT Markets Affiliate Program – Echoes of MLM Scam
Broker affiliate program reminded us of an old Ponzi or Multi-level marketing scheme. Allegedly, all those clients who bring a friend or a family member will be awarded a bonus and percentage from their initial investment.
In fact, it’ll be a credit to your account that you cannot withdraw. Instead, you will be obliged not to withdraw money since you accepted the company’s bonus.
VT Markets Deposit Bonus – Welcome Bonus Scam
Besides bonuses on the affiliate program, VT Markets offers bonuses on initial deposits as well (VT Markets minimum deposit is $200). There’s a 20% and 50% bonus, depending on the amount you are willing to invest. All those investing over $1,000 are entitled to a 20% bonus, while a minimum required for 50% is not explicitly listed.
According to some VT Markets reviews, we suspect that the minimum for 50% is $10,000.
Yet, this bonus is not just a nice gesture. It’s a company’s way to lock your funds and disable you from withdrawing your money for a period of time.
What to Do if You Fall for a VT Markets Scam? – Talk to Our Experts!
If you were scammed by VT Markets, you should know you’re not the only one. Based on the recent complaints that Global Fraud Protection has received, you are not the only victim of this trading scam, and you shouldn’t be ashamed of it. Instead, contact our experts via online chat to book your free consultation.
Tell us your story, and we will tell you how to get your money back! Don’t let scammers run with your hard-earned money!
Don’t Let the Scammers Go Away for Free!
What is VT Markets, and should I invest money in it?
It is an online trading brokerage regulated by Cayman CIMA, Australian ASIC, and the UK FCA. Yet, it’s been fined by ASIC for fraud, so it’s a high-risk brokerage.
Is VT Markets a scam forex broker or a regulated one?
VT Markets does have few regulations. However, ASIC has fined it, while FCA regulates a paying agent, not the brokerage itself.
Which trading platforms are supported by VT Markets Broker?
Broker supports MT4 and MT5 on desktop, mobile, and web versions.
Are my funds safe with VT Markets?
Since the broker has been fined by ASIC and only CIMA regulation stands still, we wouldn’t advise you to invest your money here.