ValexTrade

Note: ValexTrade' official website: https://valextrade.pro/ is currently inaccessible normally.

ValexTrade is an offshore broker registered in Saint Vincent and the Grenadines, offering trading in Forex, Indices, Shares, and Commodities with leverage up to 1:300 and spread from 3 pips via a web-based platform. Demo accounts are not available and the minimum deposit requirement is as high as $250.

Pros and Cons

Is ValexTrade Legit?

Valextrade operates from a location known for offshore scam activities, specifically St. Vincent and the Grenadines. This is a significant red flag for any broker, as companies based there are not licensed under any regulatory framework. Scammers often exploit this regulatory void to conduct their operations. Additionally, its website is currently inaccessible. It has no regulation.

What Can I Trade on ValexTrade?

Account Type

ValexTrade offers three kinds of accounts: the Elite, Classic-plus and Classic accounts with the minimum deposits of $15,000, $4,000 and $250.The amounts are too high for novices to trade their instruments.

Leverage

Trading leverage varies depending on trading accounts, flexible options ranging from 1:100 to 1:300, which is greater than the levels regarded appropriate by many regulators, with the maximum leverage for major currencies up to 1:30 in Europe and Australia, and 1:50 in the United States and Canada.

Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting out in the trading world, it's best to stick with the lower size, no more than a 1:10.

Trading Platform

ValexTrade provides a web trading platform that, unlike MetaTrader 4 (MT4) or MetaTrader 5 (MT5), lacks advanced features and is limited to only the most basic functionalities.

Deposit and Withdrawal

ValexTrade claims to allow deposits and withdrawals with credit cards and wire transfer, but the deposit menu focuses on cryptocurrencies such as Bitcoin, Litecoin and so on.