|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Spreads|
|Classic||$25||0.01||1:500||from 1.6 pips on EUR/USD|
|ECN||$25||0.01||1:500||average 0.2 pips on EUR/USD + commission $2 per lot|
|VIP||$50 000||0.01||1:500||average 0.2 pips on EUR/USD + commission $1.6 per lot|
Vipro Markets offers its clients a 2 basic account types: Classic commission-free account, and ECN one with tight spreads and small commission. There is also VIP service which offers an edge in trading with raw spreads starting from 0.0 pips and even smaller commission. All account types provide floating spreads, leverage up to 1:500, and micro lots for trade.
Unfortunately, at the time being this broker does not offer swap-free (Islamic) service to Muslim investors who are unwilling to earn interest for religious reasons.
Vipro Markets is a global regulated STP broker, with a prime focus on Forex, Stock Indices, commodities, CFDs and precious metals, serving both institutional and retail clients.
This is the brand name of Vipro Markets Ltd., a Cyprus Investment Firm (CIF) - which is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
CySEC applies certain requirements to license holders and sees to compliance with the rules set. For instance, customer funds must be held in segregated accounts, and regulated entities must regularly report to the Commission. Besides, CySEC requires forex brokers to hold at least €730 000 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, in the event of broker insolvency.
Moreover, 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. Nonetheless, the company is registered with a number of EU regulatory authorities, such as the British Financial Conduct Authority - FCA, the German Federal Financial Supervisory Authority - BaFin, the French Autorité de Contrôle Prudentiel et de Résolution - ACPR, the Italian Commissione Nazionale per le Società e la Borsa - CONSOB, and the Spanish Comisión Nacional de Mercado de Valores - CNMV.
Minimum Initial Deposit
In order to open an account with Vipro Markets, traders have to invest just $25. Such minimum initial amount is quite attractive, especially taking into account that one can also open ECN account with such initial amount. In comparison, at FXTM, another Cyprus-based broker, one can open an account with just $5 and ECN environment is accessible uith $100.
Spreads & Commissions
As a true STP/ECN broker, Vipro Markets offers variable spreads only. The ones on the commission-free Classic account type are quite high, starting from 1.5 pips on EUR/USD. That is why we would recommend the ECN account, also available for just $25, where the spreads offered are significantly lower, although a small commission applies. Vipro Markets` ECN spreads start at 0.0 pips and are averaged 0.2 – 0.3 pips for the EUR/USD pair. If we add the commission fee, which is $4 per standard lot round turn, trading costs on this account type amount to around 0.7 pips on EUR/USD, which is a really low value.
For purposes of comparison, floating spreads offered by at ForexTime (FXTM) spreads start from 1.3 on the Standard MT4 trading platform and from 0.1 and 0.2 pips on the ECN MT4 and ECN MT5 trading platforms. The commission for the ECN environment with FXTM is also $4 per lot round turn.
The maximum leverage level offered by Vipro Markets 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 operate carefully with higher leverage levels, for they involve greater risk of losses, which may even exceed the initial investments.
This broker supports the renown MetaTrader 4 (MT4), desktop, web and mobile versions available.
MT4 is an internationally acclaimed trading terminal, offering a full spectrum of trading tools and resources: advanced charting package and market analysis tools (33 analytical objects and 30 built-in technical indicators) that simplify market analysis, as well as numerous Expert Advisors (EAs).
Almost any forex trading strategy can be formalized and implemented as an Expert Advisor, which then automatically does all the work for you. The MetaTrader 4 provides the perfect environment for the development, testing and optimization of algorithmic/automated trading programs.
Besides, Vipro Markets provides its clients with VPS, which allows you to run automated algorithmic strategies (Expert Advisors) around the clock on a remote server independently from your own computer and without any efforts from your side.
What is more, Vipro Markets uses key trading servers located at Equinix LD4 data center in London and synchronized backup systems in New York and promises execution speed of 0.3 seconds on average.
Due to the growing demand for increased functionality and advanced automation of order execution from money managers, the brokerage introduced a Multi-Account Manager (MAM) service in September 2016.Vipro Markets' MAM platform is powered by software developer MetaFX.
The following payment methods are available to Vipro Markets clients: credit/debit cards, bank wire transfer, and e-wallet payment systems, such as Skrill, Neteller, and DotPay.
This broker charges no deposit/withdrawal fees.
Vipro Markets is a well-regulated STP broker based in Cyprus that offers online in forex currency pairs, CFDs and precious metals through the famous MT4 under competitive conditions. To sum up the above, here are the advantages and drawbacks with regards to this broker:
|Strong regulation||No choice of trading platforms|
|MT4 available||No swap-free (Islamic) service|
|Low ECN spreads & small commission fee||No bonuses/rebates offered|
|High leverage levels|
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|