Vital Markets is an offshore and anonymous trading company. They are freshly created in 2022 and they are operating from the Commonwealth of Dominica. Unfortunately, they don’t provide any ownership, location or contact information.
As that being said, we wouldn’t trust our money to someone hiding behind the curtains. Our Vital Markets review will elaborate on more.
Furthermore, we strongly advise you not to invest in the bogus brokers Sky Gold Market, DamkoNet, and Finex Trader. If you want to save money, don’t trade with these unlicensed brokers!
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Headquarters Country:||Commonwealth of Dominica|
|Minimum Deposit:||10 USD|
|Cryptocurrencies:||Yes – BTC, XRP, ETH|
|Types of Assets:||Forex, Indices, Shares, Commodities, Cryptocurrencies|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
Vital Markets Is Not a Regulated Broker?
The Commonwealth of Dominica has a regulatory body FSU. This is where we checked for the license of Vital Markets broker but we couldn’t find any.
Therefore, all basic and trading terms are speculative, since nobody controls their actions. Even though they have a very creative website, good trading platform and trading conditions, this shouldn’t trick you.
When you are looking for reliability in trading you always look for a license first. Besides the lack of licensing with Vital Markets, they don’t provide any information about location or contact details. Therefore, huge minus!
Arguments For Trading With a Licensed Broker
If Vital Markets had at least an FSU license you could consider trading with them. You can’t trust a broker that doesn’t have a license. Funds are always at risk and no matter what happens, you accepted their terms and nobody controlled that.
That’s why we are looking for Tier 1 regulators like ASIC, BaFin or FCA. But even there, we couldn’t find any trace of Vital Markets.
This is one of the things that work perfectly well with Vital Markets. MT4 and MT5 platforms are standards in the trading industry. More than 85% of traders are using one of those.
They are very easily customizable, offer a variety of trading tools, chart indicators, hedging, social trading and many more.
Both of these platforms are available for mobile devices as well.
What Financial Instruments Does Vital Markets Include?
Since they are using trusted platforms, they have as well a wide range of instruments available. Those are:
- Forex EUR/NZD, USD/JPY, EUR/CAD
- Commodities oil, gold, silver
- Indices AUS200, CAC40, Nikkei225
- Shares Nike, Apple, BMW
- Cryptocurrencies BNB, BTC, LTC
You just need to have in mind that these are CFDs – contracts for difference. As highly volatile assets, they might have even higher risks than usual.
Areas Of Vital Markets
What we found throughout our research and other Vital Markets reviews is that they are scamming traders from:
- South Africa
Since all of the countries mentioned have a very high level of cyber security, we expect this broker to be exposed very soon. Until that happens, keep your money safe. Invest only in regulated companies.
Vital Markets And The Types Of Accounts Offered
The company offers 3 different account types. Those are not standard ones that you will see and we need to give credits for that.
Available accounts are:
- 0$ commission account – 10$
- VIP account – 25.000$
- Fixed spread account – 10$
Differences vary in commissions and spread that the company is offering.
Vital Markets Offers Free Demo Accounts?
One huge benefit of Vital Markets broker is that they are offering a demo account. That way you can check their spreads, T&C, overnight swaps and many more. Since they have a micro account as well it’s a solid start.
However, you need to be aware that after you leave your information they will reach out.
Vital Markets Deposit and Withdrawal Policies
The problem with Vital Markets is that they only accept payments in cryptocurrencies. Whether it’s BTC, XRP, ETH, Doge and many more. Unfortunately, they don’t provide trusted options like Visa/Mastercard.
When it comes to withdrawals, the situation is even more complicated. The company is asking for additional confirmation of your wallet, which leads to more expenses. Once you pay them those imaginary fees they will vanish with your money.
Why Should I Avoid Deposit in Crypto?
Cryptos are designed to be anonymous. Every transaction made there should be hidden and approved by the algorithm. There is no regulatory body. Therefore, it’s very hard to trace them.
In case of fraud, you can’t request a chargeback like with a debit or credit card.
Vital Markets Terms and Conditions
Throughout their T&C company states that the customer is paying for most fees that can happen along the collaboration. In every single statement, there is an attorney fee mentioned. That is indicating that nothing is good with this broker.
Commissions that the company is offering are high for trading standards. Especially for non-licensed companies. To sum it up, nobody controls what are they going to write in T&C. Most people don’t even read it and they end up being scammed.
Even though the company offers a very stable and reliable platform it’s not trusted. The lack of crucial information like location, ownership, contact details and license is devastating.
Vital Markets Broker Scammed You? – Please Tell Us Your Story
Now and then we hear stories from someone who was scammed by companies like this. If that was the case, don’t lose all hope because there is a solution. Even if you did a crypto transaction there is a way to recover your funds.
First, let us hear your story. Afterward, reach our experts to get a free consultation!
What Is the Chargeback Procedure?
Chargebacks are performed when the client is a victim of fraud and he/she used a debit or credit card. It needs to be requested in the first 540 days of activity. However, if you were using a crypto wallet, you can’t make a chargeback.
But, there is another solution. A CipherTrace is a software to trace crypto transactions. To get help with that, contact us today!
What Are Vital Markets?
It’s an offshore company that is providing trading services to its clients. Of course, they do that without a license.
Is Vital Markets a Scam Broker?
According to all data collected, yes. They don’t have licenses and no contact information,
therefore there is no other conclusion.
Is Vital Markets Available in the United States or the UK?
The company offers services to both of mentioned countries and some other besides those.
Does Vital Markets Offer a Demo Account?
Yes. One of the good things about this broker is that you have access to a demo account.
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