VT Markets Review

Regulation - 8/10

Is VT Markets Legit?

Yes, VT Markets is legit because we verified that they are regulated by the Financial Sector Conduct Authority (FSCA), with FSP number 50865 here in South Africa.

VT Markets in South Africa is FSCA authorized to act as a broker but they cannot act as a market maker, since their FSCA license does not permit Over-The-Counter Derivative Provision activities.

Funding & Withdrawal - 6/10

VT Markets Minimum Deposit in ZAR

VT Markets minimum deposit is $50 (around R900) . Available funding methods include: FasaPay, South African Bank, Cards, Perfect Money, GPay, ApplePay, Skrill & Neteller.

You can make your deposits in South African Rand currency, and VT Markets will then convert it to your account currency.

VT Markets Minimum Withdrawal

VT Markets minimum withdrawal is $40 and there is no withdrawal limit.

VT Markets Withdrawal Time

VT Market withdrawal time is instant.

VT Markets Deposit Bonus

20% Deposit Bonus

VT Markets gives you a 20% non-withdrawable bonus on every deposit you make into your trading account. This applies to both old/new clients.

Although the bonus itself cannot be withdrawn, any profits you male from trading the bonus can be withdrawn. The bonus also adds to your available free margin so you can open more trades & set a wider stop loss.

50% Welcome Bonus

After you open a trading account, VT Markets will give you a 50% non-withdrawable bonus on your first deposit only.

Although the bonus itself cannot be withdrawn, any profits you male from trading the bonus can be withdrawn. The bonus also adds to your available free margin so you can open more trades & set a wider stop loss.

Account Types - 10/10

1. Cent Account (standard)

The VT Markets Standard Cent Account is ideal for starters because lot size is limited to 0.01 max. The pricing style on this account is spread-only (zero commissions).

2. Cent Account (ECN)

The VT Markets ECN Cent Account is ideal for starters because lot size is limited to 0.01 max. This account has lower spread than the standard cent account but you must pay a fixed commission on every trade.

3. Standard STP Account

The VT Markets Standard Account is ideal for more experienced traders because it has no lot size restriction. The pricing style on this account is spread-only (zero commissions).

3. Raw ECN Account

The VT Markets Raw Account is ideal for more experienced traders because it has no lot size restriction. It comes with ECN pricing meaning lower spreads than the standard account, but you must pay a fixed commission per trade.

4. Swap-Free Account (Standard & Raw)

If you dont want to be charged a swap for leaving your trades open till the next day, then the Swap-Free Account will be ideal for you. It comes in both STP Standard and ECN Raw pricing variants.

Account Management - 6/10

Max. Number of Trading Accounts

VT Markets allows you open up to 20 trading accounts from your personal area.

VT Markets Account Currency

VT Markets does not have ZAR account currency so they give you the option of opening your trading account in either USD, EUR, GBP, CAD, HKD or AUD currencies.

Margin Call & Stop Out

At VT Markets, you will receive a margin call when your margin level falls to 50%.

Negative Balance Protection

VT Markets has the Negative Balance Protection mechanism which stops your account balance from slipping into negative. This means even when trading volatile news/events, you don't have to worry about losing more than your account balance due to slippage.

Fees - 5/10

1. Spread & Commissions

From 1.2 pips is the spread on the Standard STP Account but VT Markets makes a reduction for beginners lowering the spread to start from 1.1 pips on the Cent Account.

Commission of $3 per side is charged on trades you make on the Raw ECN Account only, and the spreads on this account are lower; starting from 0.0 pips.

2. Overnight Fees/Swaps

VT Markets has a swap-free account where overnight fees are not charged. However, on other account types you will have to pay overnight fees.

3. Inactivity Fees

VT Markets does not charge any inactivity fees on dormant accounts.

4. Withdrawal Fees

VT Markets does not charge any fees when you make a withdrawal or deposit.

Range of Markets - 6/10

1. Forex CFDs

You can trade up to 40 forex pairs using CFD contracts and a leverage not exceeding 1:500.

2. Precious Metal CFDs

You can trade around 10 precious metal pairs (including XAU/USD) using CFD contracts and up to 1:20 leverage.

3. Index CFDs

You can trade 15+ Index CFDs such as SA40, China50, NAS100, US30, US Dollar Index, VIX, etc. using leverage up to 1:500.

4. Energy CFDs

Use CFD contracts to trade 8 energies including crude oil, gasoil & natural gas; with up to 1:500 leverage.

5. Agricultural CFDs

Use CFD contracts to trade Agric commodities like orange juice, coffee, cocoa, soyabean, etc. with up to 1:20 leverage.

6. ETF CFDs

Use CFD contracts to trade over 50+ ETFs including crypto & blockchain ETFs.

7. Stock CFDs

Over 800+ US, UK, EU & Hong Kong shares are available for trading using CFD contracts with up to 1:33 leverage.

8. Bond CFDs

You can trade 10-year US, UK & EU Bonds using CFD contracts and 1:100 leverage.

Platforms - 9/10

1. MT4 & MT5

VT Markets provides the MT4/5 trading platforms for you to execute your trades on. These platforms come in desktop, mobile & web variants.

2. TradingView

TradingView advanced charting platform is also provided to all traders using any of VT Markets account types.

3. VT Markets Mobile App

VT Markets also provides their own mobile trading app, and it is compatible with Android & Apple devices.

4. VT Markets Web Trader

VT Markets also provides a web trader software which you do not need to download, you can just launch it from your personal area.

Tools - 5/10

1. Copy Trading

VT Markets has copy trading so you can either copy other traders or have them copy your trades. The copy trading works from the VT Markets mobile app too.

2. Economic Calendar

The economic calendar tool shows you the dates when important market moving economic news will be released.

Customer Support - 7.6/10

1. Live Chat

The VT Markets live chat is available 24/5 and with it you can chat directly with a VT Markets support agent. The wait/response time is below 10 seconds.

2. Telephone & Email

On the VT Markets website, there is a local South African telephone number you can dial to resolve any issues. There is also a dedicated support email address displayed on their website.

3. Help Center

There is a help center where frequently asked questions have already been answered in detail. However, there is no beginner education.

Final Verdict - 7/10

VT Markets is a good broker but they could do better by localising their operations to cater more to South African traders. Things like zar account, supporting more local South African funding methods, & sufficient beginner education would go a long way.