(as of May 23, 2016)
|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Spreads||Execution type||Trading platforms|
|Classic Trust||$ 200||0.1||1:500||2 pips on EUR/USD, fixed||Instant||MT4/MT5|
|Advanced||$ 200||0.1||1:200||from 1.5 pips on EUR/USD, variable||Market||MT4|
Vinson Financials offers its clients a choice of two basic account types: Advanced one and Classic Trust.
Classic Trust accounts are intended for for traders who want to trade with fixed spreads and no slippage under all market conditions. Expert Advisors (EAs) and Trailing stops are not allowed.
Advanced accounts are designed exclusively for professional traders who value exceptional market execution speed and want to reduce their trading costs through low variable spreads. These are Straight Through Processing (STP) accounts, featuring prices from top-tier liquidity providers.
What is more, VIP services are available on both account types, provided that the client deposits a minimum of $5 000. VIP account holders are offered tighter spreads: from 0.8 pips floating on Advanced accounts and 1 pip fixed on Classic accounts.
In addition, Vinson Financials offers practice accounts, as well as swap-free (Islamic) accounts, which are Sharia compliant (for Muslim investors who are unwilling to earn interest for religious reasons). However, there are no live micro accounts available with this broker.
Vinson Financials is a foreign exchange and CFD broker founded in 2004. This is the brand name of Vinson Financials Ltd. - a Cyprus Investment Firm (CIF) - which is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
CySEC applies certain rules and requirements to license holders. For instance, customer funds must be held in segregated accounts. Besides, the Commission requires forex brokers to hold at least €1,000,000 as a proof of financial stability.
As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation to its covered clients up to 20,000 EUR, If the company is in default. Similar compensation schemes apply to FCA-regulated brokers, where the maximum compensation cover is £50,000 per person.
Additionally, every CySEC- regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU under the MiFID Passporting Regime.
Minimum Initial Deposit
In order to open an account with Vinson Financials, traders have to invest a minimum of $200. Such minimum initial amount is considered average; however, many other Cyprus-based brokers require less. For instance, FXTM demand $100 from its clients as a start and Easy-forex - $25.
Spreads & Commissions
All account types with Vinson Financials are commission-free, since the brokers receives compensation for its services through the bid/ask spread. Therefore, the spreads offered by Vinson Financials are not among the tightest in the industry.
Fixed spreads offered to Classic account holders amount to 2 pips on EUR/USD, which is an average value for the forex market. Advanced STP accounts, on the other hand, provide variable spreads, starting from 1.5 pips on EUR/USD, which is on the upper end of average.
For purposes of comparison, fixed spreads offered by Exness amount to 2 pips on EUR/USD on its commission-free Classic accounts, and XM provides variable spreads from 1 pips on majors and also doesn’t charge any commission.
For more information, you may look up real-time spreads of 15 leading brokers here.
The maximum leverage level offered by Vinson Financials is 1:500, which is considered a comparatively high ratio. However, many Cyprus-based brokers offer even higher levels - for example, XM provides leverage up to 1:888 and FXTM – up to 1:1000. Check out a list of brokers, providing leverage equal to or exceeding 1:500 here.
Nonetheless, we advise traders to exercise caution when trading on margin, as higher leverage involves greater risk of losses, which may even exceed the initial investments.
This broker offers a choice of two basic trading platforms: the renown MetaTrader 4 (MT4) and MetaTrader5 (MT5).
MT4 is an internationally acclaimed trading terminal, offering a full spectrum of trading tools and resources: a number of technical indicators, extensive back-testing, advanced charting package and a wide range of Expert Advisors (EAs). Traders can download ready-made or create their own EAs and let the program do all the work. Keep in mind that with this broker EAs are available to Advanced account holders only.
MetaTrader 4 is available to clients of Vinson Financials as desktop and mobile versions. More brokers using the MT4 can be viewed here.
The MT5 was developed and marketed as an improvement on MT4, yet many brokers still prefer the earlier technology, since MT5 does not allow hedging. With Vinson Financials this platform is available as desktop version only.
What is more, this broker offers MT4 MultiTerminal, designed exclusively for professional traders and money managers. It enables clients to manage multiple forex trading accounts simultaneously.
Unlike most brokers, Vinson Financials does not provide VPS – a virtual server that you can use for hosting your MT4 EAs, providing extra protection when trading forex.
The following payment methods are available to Vinson Financials clients: credit/debit cards (Visa, MasterCard), bank wire transfer and e-wallet payment systems, such as Skrill, and China Union Pay.
The broker charges no fees for depositing or withdrawing funds; however, when withdrawing your funds through bank wire transfer we advise that you check with your bank for any charges that may apply.
Vinson Financials is a well-regulated Market Maker & STP broker that offers online in forex currency pairs, CFDs and precious metals through the MT4 and MT5. To sum up the above, here are the advantages and drawbacks with regards to this broker:
|Well-regulated||No web trading platform|
|No commission fees||No micro lots availble for trade|
|Choice of trading platforms, MT4 available||Auto-trading restricted on Classic accounts|
FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
|Cyprus||CySec||MT4, MT5, Web||$5||Review Website|
|US, UK, Australia||CFTC/NFA, FCA, ASIC||MT4, Web,
|UK, Australia, Singapore||FCA||MT4, Web,
|UK, Cyprus||FCA, CySec||MT4||$5||Review Website|
|UK, Cyprus||FCA, CySEC||MT4, MT5, Web,
|UK, Bulgaria||FCA, FSC||Web||$150||Review Website|
|Belize||IFSC||MT4, MT5||$100||Review Website|
|Cyprus||CySEC||MT4, MT5||$300||Review Website|
|New Zealand||FMA||MT4||$1000||Review Website|