Overview of VastWealth
VastWealth is an unregulated brokerage firm based in the United Kingdom, which should raise caution among potential traders due to the lack of proper regulation. The company offers CFD trading across a range of financial instruments, including Forex, commodities, cryptocurrencies, indices, and stocks. Some of the available options include popular currency pairs in Forex, commodities like natural gas and crude oil, and prominent indices such as DAX 40 and NASDAQ 100.
The broker provides a selection of trading accounts tailored to meet diverse investment and trading needs. These account types include TEST Account, STANDARD Account, PRO Account, and VIP Account, each with different minimum deposit requirements and leverage options. It is crucial for traders to carefully choose an account that aligns with their risk tolerance and trading objectives.
VastWealth offers several trading platforms, including WebTrader, Mobile Trader, and Desktop Trader, accommodating traders' preferences for online and mobile trading. However, traders should be aware that the company lacks proper regulation, and user reviews are mixed, indicating potential risks associated with engaging with this broker. Therefore, individuals interested in trading with VastWealth should conduct thorough research and exercise caution before making any decisions.
Pros and Cons
VastWealth offers a range of pros and cons for traders considering their services. On the positive side, VastWealth provides a diverse selection of trading instruments, including forex, commodities, cryptocurrencies, indices, and stocks. They also offer multiple account types to suit different investment needs and leverage options up to 1:400. The availability of popular payment methods and accessibility through various trading platforms are additional advantages. Moreover, VastWealth offers 24/7 customer support and a wide range of trading hours for the forex market. However, there are some drawbacks to consider, such as the lack of proper regulation, relatively high minimum deposit requirements, mixed user reviews, limited educational resources, and advanced trading tools. Additionally, there may be limited information on deposit and withdrawal processes, and the availability of customer support channels may be restricted. Lastly, the trading fees and conditions may be vague, requiring further clarification.
Is VastWealth Legit？
VastWealth lacks proper regulation, as confirmed by reliable sources. It is essential to exercise caution and be fully aware of the associated risks when considering engaging with this broker.
Market Instruments
Forex: VastWealth offers access to a range of Forex trading options, including CFDs on popular currency pairs. Examples include USD/CHF, EUR/USD, NZD/USD, USD/JPY, AUD/USD, and AUD/CAD.
Commodities: VastWealth allows CFD trading on various commodities, providing opportunities to explore this market. Examples of popular commodities include natural gas (NGAS), crude oil (CL), silver (XAG/USD), and Brent crude oil (BRENT).
Cryptocurrencies: With VastWealth, traders can participate in the cryptocurrency market through CFD trading. Examples of available cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more.
Indices: VastWealth facilitates CFD trading on prominent indices such as DAX 40, NASDAQ 100, S&P 500, SP4, FTSE, and DOW.
Stocks: VastWealth offers CFD trading on stocks of various global companies. Examples of available stocks include IBM, McDonald's, Amazon, BMW, Toyota, Microsoft, Apple, Twitter, Google, Visa, and Yahoo.
Pros and Cons
Account Types
VastWealth offers a range of trading accounts tailored to suit diverse investment and trading needs.
1. TEST Account: This account type requires a minimum deposit of $5,000 and supports multiple currencies like USD, EUR, and GBP. The spread is fixed, and execution is instant, ensuring swift trading. The quotation features 5 marks after the point. Leverage is set at 1:100, offering moderate trading power. The Margin Call Level is 40%, and the Stop Out Level is 30%. Accessible through all devices, this account is suitable for traders seeking a cautious approach.
2. STANDARD Account: With a minimum deposit of $25,000 and similar currency options as the TEST account, the STANDARD account offers both fixed and floating spreads. Like the TEST account, execution is instant with 5 marks after the point for quotations. Leverage is increased to 1:200. The Margin Call Level and Stop Out Level remain at 40% and 30%, respectively. This account is designed for traders seeking a balance between risk and reward.
3. PRO Account: For experienced traders, the PRO account demands a minimum deposit of $100,000. Account currency options include USD, EUR, and GBP. Spreads are both fixed and floating, and execution is instant with 5 marks after the point for quotations. With a higher leverage of 1:300, traders gain increased buying power. The Margin Call Level and Stop Out Level remain consistent at 40% and 30%. This account type suits those seeking more extensive trading capabilities.
4. VIP Account: Geared towards high-net-worth individuals and institutional traders, the VIP account requires a minimum deposit of $250,000 or more, with currency options identical to the other account types. Offering fixed and floating spreads with instant execution, the VIP account provides the highest leverage of 1:400. The Margin Call Level and Stop Out Level stay at 40% and 30%. This account is ideal for traders seeking maximum trading privileges and opportunities.
Pros and Cons
How to Open an Account？
To open an account with VastWealth, follow these steps:
Visit the VastWealth website and click on the “Open Real Account” button.
Fill in your First Name, Last Name, and Email in the respective fields.
Enter your Phone Number in the provided space.
Select your country of residence from the drop-down menu.
Choose your Date of Birth by selecting the Day, Month, and Year.
Specify your preferred account currency (e.g., USD).
Create a Password and re-enter it to confirm.
If you have a Promo Code, enter it in the designated field.
Read, understand, and accept the Terms and Conditions.
Finally, click on the “Register now” button to complete the account opening process.
Leverage
VastWealth provides varying levels of leverage across its trading accounts. The TEST Account offers leverage of 1:100, the STANDARD Account offers leverage of 1:200, the PRO Account provides leverage of 1:300, and the VIP Account offers the highest leverage of 1:400.
Spreads & Commissions
VastWealth offers a range of spreads, including fixed and floating spreads, across its trading accounts.
Minimum Deposit
VastWealth imposes varying minimum deposit requirements for its trading accounts. The TEST Account necessitates a minimum deposit of $5,000, while the STANDARD Account requires $25,000. The PRO Account mandates a minimum deposit of $100,000, and the VIP Account targets high-net-worth individuals and institutional traders with a minimum deposit of $250,000 or more.
Trading Platforms
VastWealth offers three main trading platforms: WebTrader, Mobile Trader, and Desktop Trader.
The VastWealth WebTrader serves as an online trading gateway, accessible from any PC or Mac with an internet connection. It showcases the company's technological advancements and provides a user-friendly interface. Traders can manage their trades, control capitalization exposure, and access advanced graphs for informed decision-making.
For those seeking trading on the go, the VastWealth Mobile Trader is available for both Android and iPhone devices. While slightly simplified compared to the desktop version, it offers all necessary trading functions. Traders can open orders on their computers and seamlessly continue trading on their mobile phones.
The VastWealth Desktop Trader is a platform designed for PC users. It offers essential tools and resources for successful online trading, supporting over 350 financial instruments. With its user-friendly interface and innovative features, traders can execute trades quickly, benefit from low spreads, and implement various trading strategies.
Pros and Cons
Payment Methods
VastWealth offers a range of payment methods to accommodate different preferences. Users can opt for traditional options like VISA, Maestro, and Mastercard, which are widely recognized and accepted globally. Additionally, bank transfers are available, allowing users to transfer money directly from their bank accounts to their VastWealth trading account. For those interested in cryptocurrency, VastWealth also supports Bitcoin, enabling users to utilize this digital currency for their transactions.
Educational Resources
VastWealth provides educational resources that cover essential topics in forex trading. They offer articles on Forex trading hours, helping traders understand optimal trading times in different regions. They also provide guides on how to get started with forex trading, offering beginners a solid foundation. VastWealth offers educational materials on technical analysis, equipping traders with tools and techniques to analyze price charts and make informed trading decisions. Additionally, they provide explanations of the fundamentals of Forex, including definitions, features, and key terms, to help traders grasp the basics of the foreign exchange market.
Trading Hours
The Forex market operates 24 hours a day, with trading sessions overlapping or occurring consecutively. There are no set working hours, as Forex functions continuously. Understanding the trading session schedule is crucial, as currency behavior can vary during different sessions. The most active trading occurs when Europe and the United States are open. Below is a schedule of trading hours in different regions, all presented in GMT: Tokyo (12:00 am - 9:00 am), Hong Kong (1:00 am - 10:00 am), Frankfurt (7:00 am - 4:00 pm), London (8:00 am - 5:00 pm), New York (1:00 pm - 10:00 pm), Chicago (2:00 pm - 11:00 pm), Wellington (10:00 pm - 6:00 am), Sydney (10:00 pm - 7:00 am).
Customer Support
VastWealth offers customer support through various channels. For inquiries and assistance, customers can reach out via email at support@vastwealth.io or contact them by phone at +447418354570. Additionally, VastWealth maintains a presence on popular social media platforms like Facebook, Twitter, and Instagram, where users can engage and seek support.
Reviews
According to user reviews on WikiFX, opinions about VastWealth are divided. One user criticized the broker for its high minimum deposit requirement, considering it to be a scam with vague trading conditions and fees. On the other hand, another user had a positive experience, praising the trading platform, communication with the manager, and good customer support. It is important to consider a range of reviews and conduct thorough research before making any decisions regarding VastWealth.
Conclusion
In conclusion, VastWealth has both advantages and disadvantages. On the positive side, VastWealth offers access to various market instruments, including forex, commodities, cryptocurrencies, indices, and stocks. The broker also provides a range of trading accounts tailored to different investment needs. Additionally, VastWealth offers multiple trading platforms, including WebTrader, Mobile Trader, and Desktop Trader, to cater to traders' preferences. However, it is important to note that VastWealth lacks proper regulation Potential users should exercise caution and be fully aware of the associated risks when considering engaging with this broker. Additionally, user reviews about VastWealth are divided, highlighting the importance of conducting thorough research and considering a range of opinions before making any decisions.
FAQs
Q: Is VastWealth a legitimate broker？
A: VastWealth lacks proper regulation, so caution is advised when considering them.
Q: What market instruments does VastWealth offer？
A: VastWealth offers Forex, commodities, cryptocurrencies, indices, and stocks.
Q: What are the different account types offered by VastWealth？
A: VastWealth offers TEST, STANDARD, PRO, and VIP accounts to cater to various trading needs.
Q: How can I open an account with VastWealth？
A: Visit the VastWealth website, fill in the required information, read and accept the terms, and complete the registration process.
Q: What are the leverage levels provided by VastWealth？
A: The leverage varies across account types, ranging from 1:100 to 1:400.
Q: What are the available payment methods with VastWealth？
A: VastWealth accepts VISA, Mastercard, Maestro, bank transfers, and Bitcoin for transactions.
Q: What educational resources does VastWealth provide？
A: VastWealth offers educational materials on forex trading hours, getting started, technical analysis, and the fundamentals of Forex.
Q: What are the trading platforms offered by VastWealth？
A: VastWealth provides WebTrader, Mobile Trader, and Desktop Trader platforms.
Q: How can I contact VastWealth customer support？
A: You can contact VastWealth's customer support through email and phone, or engage with them on social media.
Q: What do user reviews say about VastWealth？
A: User reviews are divided, with some expressing concerns about high minimum deposits and vague trading conditions, while others praise the platform and customer support.
2023-03-20 17:25
2023-03-03 16:55
