Vital Markets Review

Category: Reviews | Author: Trading Brokers | Date: October 7, 2023

Vital Markets is a relatively new online broker that claims to offer access to various financial markets with competitive spreads, leverage up to 1:500, and exceptional trading tools. The broker provides a range of trading accounts that offer complete flexibility to suit traders’ specific needs. But how reliable and trustworthy is Vital Markets? This review aims to provide a comprehensive and unbiased assessment of Vital Markets, shedding light on its strengths, weaknesses, and the crucial factors that you need to be aware of before choosing a trading broker. Join us as we embark on a journey, exploring the features, services, and reputation that define this broker.

Pros & Cons

  • Exceptional trading tools for informed decisions
  • No deposit or withdrawal fees
  • Access to various markets with competitive spreads and leverage
  • Range of trading accounts to suit different needs
  • It offers the TradeLocker platform with advanced features and tools
  • No regulation or transparency
  • No social media or online reviews
  • No education or support
  • High minimum deposit for some accounts
  • No cash currency or cash equivalents

Summary

Vital Markets Review

Vital Markets Review

Vital Markets offers access to a wide range of financial markets with competitive spreads and advanced trading tools. Traders can choose from various account types tailored to their specific needs. However, concerns arise as Vital Markets lacks regulation and does not disclose crucial company information, which raises doubts about the safety of trading with them.

Their trading platform, TradeLocker, powered by TradingView, provides real-time tracking, analysis, and robust charting tools. Unfortunately, Vital Markets falls short in terms of educational resources and customer support for traders looking to enhance their skills.

Covering global markets like Forex, Crypto, Stocks, Commodities, and Metals, Vital Markets boasts a broad selection of trading instruments. Leverage up to 1:500 is available, increasing profit potential but also risk. They offer various account types such as the VIP account, Fixed spread account, Micro account, ECN/STP account, and the 0 commissions account, each with unique features, including spreads, minimum deposits, and trade sizes.

AvaTrade Logo

Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulations

Regulation is one of the most important factors to consider when choosing an online broker. However, Vital Markets does not provide any information regarding its regulation or license number. This means that the broker is not regulated by any reputable authority and does not have any legal oversight or accountability. This also means that the broker does not have to comply with any rules regarding customer protection, segregation of funds, anti-money laundering, or dispute resolution.

Vital Markets does not disclose its company name, location, or contact details on its website either. This makes it difficult to verify the identity and legitimacy of the broker. The only way to contact the broker is through an online form or an email address. The broker does not provide any phone number, address, or social media links.

The lack of transparency and regulation of Vital Markets raises serious doubts about the safety and security of trading with this broker. With your safety and security in mind, we urge you to consider perusing our list of regulated brokers for safer alternatives.

Platforms and Tools

MT4 & MT5 Platforms

MT4 & MT5 Platforms

Vital Markets offers two trading platforms, MetaTrader 4 and MetaTrader 5, which are both award-winning platforms that enable traders to trade from desktop or mobile devices at any time. MetaTrader 4 is the most popular online trading platform used by Forex traders, while MetaTrader 5 is a multi-asset trading platform that offers advanced tools for price analysis, algorithmic trading, and copy trading.

Trade Locker

TradeLocker

In addition to these platforms, Vital Markets also offers TradeLocker, a technologically advanced trading platform that allows clients to execute trades, manage their accounts, view real-time quotes, and access a variety of charting and analysis tools.

Vital Markets also provides exceptional trading tools to help traders make informed decisions. These tools include:

  • Economic Calendar: This tool displays the upcoming economic events and their impact on the markets. Traders can use this tool to plan their trading strategies and avoid market volatility.
  • Trading Signals: This tool provides real-time trading signals based on technical analysis and market trends. Traders can use this tool to follow the recommendations of professional traders and copy their trades.
  • Market News: This tool provides the latest market news and analysis from reputable sources. Traders can use this tool to stay updated on the market movements and opportunities.
  • Trading Calculator: This tool helps traders calculate their potential profits, losses, margins, and commissions based on their trading parameters. Traders can use this tool to optimize their risk management and trading performance.

Education

Vital Markets is an online trading platform that offers a range of educational materials to help traders improve their skills and knowledge in the financial markets. These materials are designed to cater to traders of all experience levels, from beginner to advanced, and cover a variety of topics related to trading and investing. Some of the educational materials offered by Vital Markets include:

  • Trading Courses: Vital Markets offers a range of free trading courses that cover various aspects of trading, including introductory courses, technical analysis, fundamental analysis, and risk management. These courses are designed to provide traders with a comprehensive understanding of the financial markets and the skills needed to trade successfully.
  • Webinars: Vital Markets regularly hosts webinars, which are live online seminars that cover specific topics related to trading and investing. These webinars are conducted by experienced traders and industry experts and provide valuable insights and information to participants.
  • E-books: Vital Markets offers a range of free e-books that cover various topics related to trading and investing, such as technical analysis, fundamental analysis, and risk management. These e-books are designed to provide traders with a comprehensive guide to trading and investing and can be downloaded for free from the Vital Markets website.

Markets

Vital Markets offers access to various financial markets with competitive spreads, leverage up to 1:500, and some handy trading tools. The broker provides a range of trading instruments that cover different asset classes and markets. Here are some details on the markets that Vital Markets offers:

  • Forex: Vital Markets offers several currency pairs, including majors, minors, and exotics. The broker has spreads starting from 0.5 pips and no requotes or minimal slippage.
  • Crypto: Vital Markets offers 20 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, and more. The broker has low spreads starting from 0.1 pips.
  • Stocks: Vital Markets offers 100 stocks from various sectors and regions, such as Apple, Amazon, Tesla, Facebook, and more. Here the broker also has low spreads starting from 0.01 pips.
  • Commodities: Vital Markets offers 10 commodities, including oil, gas, gold, silver, and more.
  • Metals: Vital Markets offers 10 metals, including copper, iron, platinum, palladium, and more. Here the broker has spreads starting from 0.01 pips and high leverage up to 1:500.

Accounts

Vital Markets offers a range of trading accounts that offer complete flexibility to suit traders’ specific needs. The broker has different types of accounts that cater to different trading styles and levels. These include the VIP Account, the Fixed Spread Account, the Micro Account, the ECN/STP Account, and the 0% Commission Account. Each account has different features such as spreads, commissions, minimum deposits, and trade sizes. Here are some details on the different account types:

  • VIP Account: This account is designed for professional and experienced traders who want to enjoy very tight spreads, high leverage, and low commissions. The VIP Account requires a minimum deposit of $25,000.00 and offers leverage up to 1:500. The spreads start from 0 pips and the commission per lot is $6.00. The maximum trade size is 1,000 lots and the minimum trade size is 0.01 lots.
  • Fixed Spread Account: This account is suitable for traders who prefer fixed spreads and no surprises. The Fixed Spread Account requires a minimum deposit of $10.00 and offers leverage up to 1:500. The spreads are fixed from 0.5 pips and the commission per lot is $5.00. The maximum trade size is 1,000 lots and the minimum trade size is 0.01 lots.
  • Micro Account: This account is ideal for beginners and traders who want to test their strategies with minimal risk. The Micro Account requires a minimum deposit of $10.00 and offers leverage up to 1:500. The spreads start from 1.5 pips and the commission per lot is $4.00. The maximum trade size is 1,000 lots and the minimum trade size is 0.01 lots.
  • ECN/STP Account: This account is for traders who want to trade with direct market access and low latency execution. The ECN/STP Account requires a minimum deposit of $10.00 and offers leverage up to 1:500. The spreads start from 0.5 pips and the commission per lot varies from $5.00 to $7.00 depending on the spread. The maximum trade size is 1,000 lots and the minimum trade size is 0.01 lots.
  • 0% Commission Account: This account has higher spreads but no commission charges. This account is for traders who want to save on trading costs and have a simple fee structure. The 0% Commission Account requires a minimum deposit of $10.00 and offers leverage up to 1:500. The spreads start from 2 pips and there is no commission per lot. The maximum trade size is 1,000 lots and the minimum trade size is 0.01 lots.

Funding

Vital Markets facilitates seamless funding through a variety of channels, offering flexibility to traders. They accept deposits and withdrawals via bank wire transfers, credit/debit cards, and popular e-wallets like Skrill and Neteller. The availability of multiple options ensures accessibility for a diverse range of traders.

  • Credit/Debit Cards: Vital Markets accepts major credit and debit cards, including Visa, Mastercard, American Express, and Discover. Users can deposit funds directly into their trading accounts using their card details. On the withdrawal side, users can withdraw funds back to their credit/debit cards, subject to certain limits and fees. Withdrawals are typically processed within 24 hours, but processing times may vary based on the user’s location and card issuer.
  • Bank Wire Transfer: For larger transactions, users can transfer funds directly from their bank accounts to Vital Markets’ bank account. This method is typically used for larger transactions and takes longer to process compared to other methods. On the withdrawal front, users can request a wire transfer to their bank account, which typically takes 3-5 business days to clear. Fees may apply depending on the user’s bank.
  • E-wallets: Vital Markets supports popular online payment processors like Skrill, Neteller, and PayPal. Users can link their payment processor accounts to their Vital Markets account and transfer funds between the two accounts. When it comes to withdrawals, users can withdraw funds to their linked payment processor accounts, such as Skrill or Neteller. Withdrawals are usually processed within 24 hours, but the exact processing time may depend on the payment processor’s policies.

One notable advantage is that Vital Markets does not impose any fees on deposits or withdrawals from their end. However, it’s advisable for traders to consult with their chosen payment provider, as they might have their own fee structures in place.

Conclusion

Vital Markets is an online broker that promises to provide traders with a convenient trading experience that is submerged with transparency and modern technology. However, the broker lacks credibility and regulation, which are essential factors for choosing a reliable broker. Traders should be cautious when dealing with Vital Markets and conduct their own due diligence before opening an account with them.

We hope that this article has given you a clear overview of Vital Markets and its services. However, it is also worth noting that there are other brokers with longer track records that may be worth considering as alternative options. For additional choices, we encourage you to explore our trading broker reviews.

Vital Markets Logo

$10

Vital Markets is an unregulated online broker that offers access to various financial markets with competitive spreads, leverage up to 1:500, and exceptional trading tools. The broker provides a range of trading accounts that offer complete flexibility to suit traders’ specific needs.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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Trading Brokers
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