What is VI Markets？
VI Markets operates from Kuwait without regulation, exposing investors to substantial risks. It offers a range of market instruments like forex, bullion, indices, commodities, energy, cryptocurrencies, and shares. It offers many trading platforms including MT4, Web Trader, and MT5. However, VI Markets specifies that it does not cater to residents of certain countries, including the United States, Belgium, Poland, and others outside the UK.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
Pros:
- Diverse Market Instruments: VI Markets offers a wide range of market instruments including forex, bullion, indices, commodities, energy, cryptocurrencies, and shares. This provides investors with various options to diversify their portfolio and potentially capitalize on different market trends.
- Convenient Deposit and Withdrawal Methods: The platform offers convenient deposit and withdrawal methods such as credit/debit card transfers, bank transfers, and e-wallet solutions. This flexibility allows investors to fund their accounts and access their funds with ease, enhancing overall user experience.
- Demo Account Availability: VI Markets provides a demo account option, allowing users to practice trading strategies and familiarize themselves with the platform before committing real funds. This can be beneficial for novice traders who are still learning the ropes of financial markets.
Cons:
- Unregulated Status: One of the significant drawbacks of VI Markets is its lack of regulation. Operating without oversight from government or financial authorities exposes investors to substantial risks, including potential fraud, mismanagement of funds, and sudden closure of the platform without warning.
- Withdrawal Issues and Scams: Reports of withdrawal issues and scams associated with VI Markets raise concerns about the platforms reliability and trustworthiness. Investors may encounter difficulties in withdrawing their funds or fall victim to fraudulent activities, undermining confidence in the platform.
- Limited Geographic Coverage: VI Markets specifies that it does not cater to residents of certain countries, including the United States, Belgium, Poland, and others outside the UK. This limited geographic coverage may restrict access for potential investors, limiting the platforms reach and market potential.
Is VI Markets Legit or a Scam？
Investing with VI Markets poses significant risks due to the absence of valid regulation, leaving the platform unchecked by government or financial authorities. Without oversight, there's no assurance of adherence to industry standards or the protection of investors' interests. This lack of regulation creates a scenario where the individuals behind the platform can operate with impunity, potentially engaging in fraudulent activities without consequences.
Market Instruments
VI Markets provides a comprehensive array of trading instruments across various asset classes.
- Forex: VI Markets allows traders to participate in the foreign exchange market, offering a wide range of currency pairs for trading. This includes major currency pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic currency pairs.
- Bullion (CFDs): Traders can engage in trading contracts for difference (CFDs) on precious metals such as gold and silver, commonly referred to as bullion. This allows investors to speculate on the price movements of these precious metals without owning the physical assets.
- Indices (CFDs): VI Markets offers CFDs on indices, enabling traders to speculate on the performance of major stock market indices from around the world. This includes indices like the S&P 500, FTSE 100, Nikkei 225, and more.
- Commodities (CFDs): Traders have the opportunity to trade CFDs on a variety of commodities, including agricultural products, metals, and energy resources. This allows for speculation on the price movements of commodities such as crude oil, natural gas, wheat, corn, and others.
- Energy (CFDs): VI Markets provides trading opportunities in energy markets through CFDs, allowing traders to speculate on the price movements of energy commodities like crude oil, natural gas, heating oil, and gasoline.
- Cryptocurrencies: The platform offers trading in cryptocurrencies, enabling investors to trade popular digital assets such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more.
- Shares: VI Markets allows traders to invest in shares of publicly listed companies from various global stock exchanges. This includes shares of companies across different sectors and industries.
How to Open an Account？
To open an account with VI Markets, please follow these steps:
Trading Platforms
VI Markets offers its clients access to two powerful trading platforms: MetaTrader 4 (MT4) and Web Trader, along with the option of MetaTrader 5 (MT5).
MetaTrader 4 (MT4) stands as a cornerstone in the realm of online forex trading platforms, chosen by a majority of retail traders worldwide. It's renowned for its robust features, ease of use, and extensive capabilities for technical analysis. MT4 is available for download, providing traders with a stable platform that exerts less pressure on internet connections compared to browser-based alternatives. One of its key advantages is the allowance of Expert Advisor assistance, empowering traders with automated trading strategies.
Web Trader complements the desktop and mobile platforms, offering traders greater flexibility and accessibility to the financial markets. Web Trader provides real-time price updates, advanced charting capabilities, and a range of technical analysis tools, ensuring traders can make informed decisions wherever they are.
For those seeking broader asset class coverage, VI Markets also offers access to MetaTrader 5 (MT5). With MT5, traders can trade not only forex but also a wide array of other asset classes including shares, commodities, indices, bullion, energies, and cryptocurrencies – all from a single platform. This consolidated approach streamlines trading activities, providing convenience and efficiency to VI Markets' clients.
Deposits & Withdrawals
VI Markets offers a variety of convenient deposit and withdrawal methods.
For funding your account, you can choose from options like credit/debit card transfers, bank transfers, and e-wallet solutions.
If you opt for credit or debit card transfers, your funds will be available for trading immediately, ensuring you can swiftly capitalize on trading opportunities. VI Markets accepts multiple currencies for credit/debit card transactions, including USD, GBP, and EUR, with minimum deposit amounts specified for each currency. Additionally, there are no deposit charges for credit/debit card transactions, providing cost-effective funding options for traders.
Bank transfers are another secure and widely accepted method for funding your VI Markets trading account. With UK bank transfers, there is no minimum deposit requirement, and the transfer time typically ranges from 1 to 3 working days. For international SWIFT bank wire transfers, there are no minimum deposit amounts, and transfer times vary from 2 to 5 working days, depending on the location and currency.
For withdrawals, VI Markets follows a transparent and efficient process. Withdrawals are processed promptly upon receipt of the request, with efforts made to complete them on the same day or the next business day. However, the actual transfer time varies depending on the withdrawal method chosen.
User Exposure on WikiFX
On our website, you can see that reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
24 hours a day, 5 days a week
Telephone: + 44 ( 0 ) 203 544 9646 (London) / +965 222 569 88 (Kuwait)
Email: clientservices@vimarkets.com.kw (Kuwait)
service@axi.com (London)
WhatsApp: +61448088246
Address: 1 Finsbury Market, London, EC2A 2BN, United Kingdom
VI Markets offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform. Online messaging can be a convenient way to get real-time assistance or to engage in discussions with fellow traders.
Conclusion
In conclusion, VI Markets presents itself as a platform with a variety of market instruments, convenient deposit methods, and a demo account option. However, its unregulated status poses significant risks to investors, including potential fraud, mismanagement of funds, and withdrawal issues. Reports of scams and limited geographic coverage further raise concerns about the platform's reliability and trustworthiness. Therefore, while VI Markets may offer opportunities for diversification and practice trading, investors should be meticulous and thoroughly research before engaging with the platform.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
2023-03-06 14:31
