Before going into detail about VCTrade broker, we want you to know that offshore brokers are not as reliable as Tier 1-regulated firms. For instance, those holding FCA or BaFin licenses ensure you get compensated in case of an issue.
With this in mind, let’s delve into the VCTrade review. We’ll explain all the details about this brokerage company.
However, the website states this firm cooperates with Italia Agentes Autonomos de Investimento Ltda, registered with Brazilian CMV. They go as far as to present you with a PDF document of the alleged CMV database entry. Upon searching, we found no such company. Therefore, we believe this is nothing but a lure for Brazilian customers.
Furthermore, the company is soliciting investors from all around the globe without holding licenses in their respective jurisdictions. For instance, US traders cannot open accounts with companies outside of the country. Additionally, NFA imposed a leverage limit of 1:50. On the other hand, VCTrade is onboarding US investors and offering leverage of 1:100 from offshore.
Like Rallyville Markets, this company operates from afar, under loose supervision. Let’s learn more about their operations.
These have their respective authorities and do not allow citizens to trade with offshore brokers. This is due to high risks since offshore authorities don’t obligate brokers to limit leverage or form compensation funds to reimburse potential victims.
There’s a surprisingly good VCTrade trading platform, MT5. It’s the newer version of MetaTrader, superior in terms of available features. It supports various add-ons, including social trading and Expert Advisors.
Both MT4 and MT5 have millions of users and have gained popularity thanks to a vast range of functionalities. As well, as third-party software, both are safer and less susceptible to market manipulation compared to traditional WebTrader.
Another great perk of MT5 is its dedicated mobile app. Android and iOS users can conveniently register and log in to their investment accounts. That way, you’re sure you can access your trades whenever you want and keep up with the market fluctuations.
The company offers access to four asset classes:
Crypto trading is not offered, making this broker less desirable than most of its counterparts.
The website says the spread starts from 2 pips on the Standard account. The commission is advertised as $0, but with a note that it may vary. Therefore, it’s unclear how much you’ll pay on top of trading fees like spreads and swaps.
You can choose from one of the four VCTrade account types:
The spread is lowering, dropping from 2 pips to 0.6 pips, while the leverage remains the same. However, the last two accounts bring VIP benefits, while only from the Silver one can you expect assistance from the account manager.
You can use a VCTrade Demo account before paying the minimum deposit. You can test MT5 and its features and check out the trading terms.
Note that this broker is less safe than those regulated in your legal jurisdiction by firm authorities such as BaFin, CFTC, or AFM. Therefore, we advise you to choose one of those since your money will be covered by the compensation fund and insured.
We tried looking for viable options for VCTrade withdrawal, but it turned out impossible. The company didn’t specify the payment methods it accepts. All we know is that the withdrawal request should be submitted through your account.
Considering VCTrade reviews don’t encourage, we want you to think twice before investing with offshore brokers. And, if something goes wrong, ensure you prepare sufficient evidence for the regulator.
If you cannot withdraw from the VCTrade broker or there’s a problem with your trading account, report it immediately. Global Fraud Protection can help you collect enough evidence for the regulators and help to file a dispute for a chargeback.
We’re evaluating each case thoroughly during a free consultation, giving it all the attention. Contact us now, and let’s hear your story!
VCTrade is an offshore trading broker under an FSC Mauritius license. In case of potential issues, let us know, and we might be able to help.
VCTrade provides its customers with the latest version of MetaTrader, MT5.
The minimum deposit for the Standard account is $100.
VCTrade is an offshore trading broker under an FSC Mauritius license. In case of potential issues, let us know, and we might be able to help.
VCTrade provides its customers with the latest version of MetaTrader, MT5.
The minimum deposit for the Standard account is $100.
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