ViTrade is a German broker that offers its clientele a variety of trading products via a range of professional trading platforms available for desktop, web and mobile devices running on iOS. ViTrade have some advanced trading tools but have a limited choice of account types and funding options. They also do not have the popular MetaTrader platforms that so many traders are already familiar with and are primarily catered towards the German market.
ViTrade Review, Pros & Cons
- Regulated brokerage
- Range of asset classes
- Professional trading platforms
- Useful trading tools
- Limited funding options
- Limited account types
- Limited educational material in German only
- No live chat support
- No MetaTrader platforms
- Not the cheapest broker fees or lowest spreads
- Expiring demo account
In this detailed ViTrade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
ViTrade is an online brokerage firm that provides individually tailored trading conditions for clients. The broker has a choice of flexible trading platforms and individual tools for different trading styles and experience levels. Platforms include the high-performance HTX trading platform which delivers direct stock exchange access.
ViTrade provide a personal and professional brokerage service where clients can benefit from the brokers longstanding experience in stock exchange trading – both on-floor, off-floor and internationally. The broker offers various asset classes to trade from €5.95.
ViTrade is a flatex Bank AG company, which provides all banking services. flatex Bank AG is regulated by the Federal Financial Supervisory Authority (BaFin). Please see our flatex review for further information. Other regulatory agencies are the European Central Bank (ECB) and the European Securities and Markets Authority (ESMA).
ViTrade provide cross-border trading in a total of 33 countries. The broker mainly accepts clients from the EU zone. Clients from the USA and many other countries are not accepted.
Some ViTrade broker features and products mentioned within this ViTrade review may not be available to traders from specific countries due to legal restrictions.
HTX Trading Platform
ViTrade offer a high-performance, professional and reliable trading platform known as HTX which gives direct stock exchange access and is geared entirely towards the needs of day traders and the most demanding of professional traders.
The HTX platform has a fully customisable user-friendly interface that can easily be adapted to your requirements. The platforms convenient features and highly professional charting enable a fast response to market developments, supplemented by additional trading tools.
If you would like to engage in short-selling, the HTX platform provides a rapid overview of intra-day and overnight short selling options for individual securities. Upon request, the broker is able to give you trading lines of up to several times your equity for this purpose.
The platform supports smart order types so that users can execute any strategy with speed. There are event-based order types, such as on-event, one-cancels-other/one-cancels-all, or even if-done orders. This way users can react to the markets and implement any trading strategy easily and conveniently with just a few mouse clicks.
You can trade with intelligent order types from wherever you are and whenever you want by using the free HTX mobile trading app for iOS devices. There is also the browser-based HTX WebTrader which can run in most modern web browsers without the need to download or install any additional software.
Guidants is an interactive platform that offers a professional overview of the market. The platform includes real-time market data, innovative evaluation tools, networking with other traders and more. Users can put together their own individual desktop and combine trading widgets into sets that interact with each other. With Guidants you can log directly into your ViTrade depot to convert information directly into a trade.
The broker can support your automated trading with their API based on the standard FIX protocol and RTD connection via an MS Excel-based framework. The HTX API allows both the development and use of predefined software for trading in all investment classes offered.
ViTrade Trading Tools
There are plenty of trading tools embedded within the powerful HTX trading platform. These tools are likely to more than enough to meet the majority of trader’s needs. The trading brokers team would like to have seen some additional trading tools such as trading calculators, an economic calendar and sentiment analysis.
Clients can receive automatically generated market reports with the information that is most relevant to them. The broker provides meaningful market analysis and additional clear, structured information from benchmarking. There are webinars available and a trading academy. However, these are limited to the German language.
ViTrade have an extensive range of tradable products including international stock exchanges. The broker supports online trading with shares, certificates, bonds, ETFs, ETCs, futures and warrants at all German floor-based stock exchanges, XETRA and EUREX. 24 trading partners are available to trade online. Buy and hold trading is currently available at 13 international stock exchanges.
ViTrade Accounts & Fees
Clients can trade on ViTrade from €5.95 per trade and benefit from direct stock exchange access, one-click trading, intra-day and overnight short selling as well as a wide range of other features offered by the professional trading platform HTX.
Accounts and depots are held free of charge with the German bank flatex Bank AG. It is also possible to hold accounts in foreign currencies which is beneficial as you may not be subject to currency conversion fees.
ViTrade do offer a free of charge demo account that expires after four weeks. The demo account can be a useful way for traders to try out the HTX trading platform risk free. You can practice your trading strategies using virtual funds and explore the platforms features.
As broker fees can vary and change, there may be additional fees that are not listed in this ViTrade review. It is imperative to ensure that you check and understand all of the latest information before you open a ViTrade broker account for online trading.
Professional support is provided by the brokers experienced team of exchange traders. Clients have a direct and reliable contact partner on hand to assist them. ViTrade customer support is available on all trading days from 8:00 am to 10 pm via telephone and email.
You can also book a one-on-one online meeting although we believe it would be beneficial if the broker could add a live chat option to their website as this can often be a quick and preferable way for potential clients to get answers to their questions.
ViTrade Deposit & Withdrawal
Bank Wire Transfer is the only method available to ViTrade clients for both deposits and withdrawals. Generally, it takes between 3 to 7 bank working days for the whole process to complete. This is a limited choice when compared with other trading brokers who offer multiple account funding options including online payment processors for quick and convenient funding.
ViTrade Account Opening
There is a short application to complete on the ViTrade broker website in order to apply for a trading account. You will need to provide them with some basic personal information and verify your account before you can fund it and start trading online.
The form is displayed in German despite the brokers website having the option to be browsed in English. You may need to translate each field which is not ideal but potential language barriers are something to consider when using a broker that is located in a country which does not speak your native language.
Overall, ViTrade is a decent online brokerage that offers relatively competitive trading conditions on an extensive range of trading products. The broker is regulated and provides a high-performance trading platform with flexible tools to suit individual trading styles. They can cater to both beginner and professional traders with all clients receiving a personal service from trained experts.
Despite this, we found the broker to be lacking in certain areas. They do not have the lowest commissions or tightest spreads that we have seen when compared to some of the best trading brokers.
Furthermore, the account types and funding options are limited whereas educational materials and the account opening form are only available in German.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.