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VT Markets Review - is it scam or safe?

VT Markets Review - Is vtmarkets.com scam or good forex broker?

RATING: 3 / 0 REVIEWS VT Markets
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Trading Accounts & Conditions

 

Account type  Minimum deposit  Maximum leverage Spread
Standard STP Unspecified 1:400 From 2.1 pips*

*we saw this when testing the demo platform

 

VT Markets is an Australian forex and CFD broker. The team behind it is partnered with Vantage FX, a well-regulated local player, with raising global ambitions. We have to mention, this review is written very early on in the development of the project and may contain information which isn’t accurate at the time you are reading it. We will do our best to periodically updated it.

 

VT Markets Advantages

 

Regulated in Australia (ASIC)

VT Markets is owned by VT Markets Pty Ltd, which is an Authorised Representative of Vantage Global Prime Pty Ltd, the firm behind Vantage FX. The latter is regulated by the Australian Securities and Investments Commission (ASIC). This is on of the most well-renowned financial watchdogs in the world, which guarantees security for investors.

 

>>Find other ASIC regulated brokers here<<

 

STP/ECN model

These two terms have been used together so frequently, they have almost become synonymous. The main difference between the two is the way in which the broker’s commission is charged – in STP ones it is included in the spread, while ECN brokers usually offer tighter spreads, but charge an additional fee for every trade, based on volume. The common thing is that with both models your broker does not make a profit on your losses, but rather gains from the number (and size) of your transactions. This is the opposite of a Market Maker, which is company which may effectively be in conflict of interest with its clients, although this isn’t an issue with the tightly regulated ones.

 

Proven trading platform (MT4)

When it comes to software for forex trading, non comes ahead of MetaTrader4. The charting package may fee outdated to some newcomers, but this is only true for the default layout. Once you get to know the platform, you will realize that few tools are so customisable as this one. This is especially true, if you are into programming and want to make your own technical indicator or trading robot – MT4 offers one of the simplest environments for this. On the other hand, a mobile app, as well as a web-based version of the platform are also available for those of you whop are constantly on the go. Here is a preview of what a trader will see, when downloading the desktop platform from VT Markets:

 


MetaTrader4, as presented by VT Markets

 

High leverage provided

Leverage will always be at least somewhat controversial, but also necessary for trading in the currency market. This broker provides a maximum leverage of 1:400, which is more than enough to suite all kinds of traders. Just because such a high ratio is available, doesn’t mean you should always “gear up” to the maximum. Learn the basics of risk management before you start trading.

 

 

VT Markets Disadvantages

 

Presentation is still lacking

As we mentioned in the beginning, this review is written very early on in the development of this VT Markets. While we will definitely come back to them in the future, presently there is no information on key factors, such as the minimum deposit, payment methods, target spreads and CFD contract specifications.  

 

A few sections of the website also mention the Raw account type, a term used by the partnering broker Vantage FX. We suspect this will also be added to  VT Markets, but at the time of writing it isn’t.

 

Spreads in the platform are high

When testing the MT4 platform provided by this company, we saw were slightly wider spreads than expected (given what is provided by the other brand). The EUR/USD one fluctuated around 2.1 – 2.3 pips, which isn’t that competitive in the current day and age. For tighter spreads, check out our dedicated platform below.

 

>>Compare forex spreads in real-time<< 

 

Conclusion

 

VT Markets is a regulated Australian forex broker. The company is an  Authorised Representative of Vantage FX, meaning you will likely get the same level of service. As we already mentioned several times, this is a new project and a lot of the details around it aren’t that clear. 

 

What is certain is that trading with a broker regulated by the Australian Securities and Investments Commission (ASIC), your funds will be safe. This watchdog enforces multiple strict rules on the firms it oversees, including the mandatory segregation of client funds. This rule guarantees, your investment will not be mixed up with the company’s operational balance and get “lost”. On top of that there is a minimum capital requirement of AUD 1 million, before a broker can apply for the license. This serves as a deterrent for most scammers.

 

Sadly Australian regulation doesn’t provide a Compensation Scheme, for forex brokers. This is a mechanism, which guarantees client funds, in case their broker becomes bankrupt. Such systems are common in the EU, with varying maximum levels of protection. For instance, the UK’s FCA provides up to £50,000 per person.

 

>> FCA regulated brokers<<

 

The pros and cons of the current offer, by VT Markets:

Pros Cons
Regulated in Australia (ASIC) Presentation is still lacking
STP/ECN model Spreads in the platform are high
Proven trading platform (MT4)  
High leverage provided  

 

Latest news about VT Markets
No news about VT Markets. Check back later.
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Traders` reviews for VT Markets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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