Looking to read Vida Markets FX reviews, you are in the right place. Read this honest review to know about this vidamarkets.com forex broker and why you should beware.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About Vida Markets
Vida Markets FX is an offshore brokerage operated by Vida Markets LLC with a lot of promises for forex traders. The company is incorporated in St Vincent and Grenadines.
The broker offers different account types such as —STP, ECN and Islamic account.
In addition, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Withdrawal process:
Vida Markets withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Vida Markets Minimum Deposit:
Vida Markets deposit is clearly specified on the website. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
The available payment methods are Mastercard, PerfectMoney, Help2Pay, Beeteller and crypto transactions.
Just so you are aware, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Vida Markets Platform:
Vida Markets claims to offer both the industry standard MetaTrader 4 and MetaTrader 5. However there is no possibility to preview the platform or to download it before you open an account.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Vida Markets leverage can get up to 1:1000. Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
What We Discovered about Vidamarkets.com Regulation
First of, Vida Markets openly lies about being reputable and regulated. In fact it lacks any kind of authorization and is not supervised by any financial authority. It claims its registered address to be in St. Vincent and the Grenadines.
The reason being that this offshore destination doesn’t license forex trading brokerage activities, as the local Financial Services Authority (FSA) clearly states. If you visit the website of FSA, then a notice will instantly appear, saying the same thing we mentioned already, take a look:
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Vida Markets FX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Bottom Line:
Vida Markets FX, like Protosscapgroup appears like a good looking forex broker, however, we encourage you to be careful and to turn to brokers with proven reputation instead. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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