VT Markets is a forex and contract for difference (CFD) broker established in Australia on February 4, 2019. It primarily offers financial trading services for forex, commodities, indices, energy, precious metals, and stock CFDs. The company is headquartered in St. Vincent & the Grenadines and has a branch in Taipei. The official website of the broker is https://www.vtmarkets.com/, and it offers services in multiple languages, including English, French, Spanish, Portuguese, Simplified Chinese, and Traditional Chinese.
Company Background and Regulatory Status:
VT Markets is registered in Australia as VT GLOBAL PTY LTD, with the company's registered address in Sydney, NSW 2000, and an ABN number of 14 631 408 609. As of the information available up to October 23, 2023, the broker's domain was registered on December 18, 2017, and it is set to expire on December 18, 2023. The broker is authorized and regulated by the Australian Securities and Investments Commission (ASIC) with license number 516246. However, this authorization does not include retail clients, and using this entity for forex trading and brokerage falls under unlicensed operations.
In South Africa, VT Markets is registered as VT Markets (Pty) Ltd, with a registration date of March 13, 2015, and a company address at 9 Lilian Avenue, Lilianton, Boksburg 1459. It is authorized and regulated by the Financial Sector Conduct Authority (FSCA) with license number 50865, effective from September 9, 2020.
In St. Vincent and the Grenadines, the company entity is VT MARKETS LLC, registered on November 13, 2020, with an address at First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines, and registration number 673. However, the Financial Services Authority of St. Vincent and the Grenadines (SVGFSA) only regulates banking, insurance, or mutual fund-related activities and does not regulate forex margin trading or issue forex licenses. Therefore, VT MARKETS LLC's forex trading and brokerage activities are unregulated.
Account Opening:
To open an account with VT Markets, you need to register on their official website and go through a three-step verification process, including account verification, identity verification, and proof of address (POA) verification.
Account Types:
VT Markets offers two different types of trading accounts: Standard STP and RAW ECN. Both accounts require a minimum deposit of 100 USD and support multiple base currencies, including AUD, USD, GBP, EUR, and CAD. The minimum trade size is 0.01 lots, and both account types offer trading bonuses. The Standard STP account has an STP execution type with spreads starting from 1.2 pips and no trading commission. The RAW ECN account has an ECN execution type with spreads starting from 0 pips and a commission of 6 USD per round trip.
Trading Platforms:
VT Markets provides trading services through the MT4 and MT5 trading platforms, including PC, mobile, and web versions. The entity providing services on the MT4 and MT5 platforms is VT Markets Pty Ltd.
Deposits and Withdrawals:
VT Markets supports various deposit and withdrawal methods, including bank wire transfers, credit cards, and e-wallets, but all deposits and withdrawals must be made through their client portal. Funds deposited into the trading account must come from the same source with the account holder's name. Withdrawals are generally processed within one business day. The time to receive funds can vary depending on the withdrawal method, ranging from 1 to 7 business days. VT Markets does not take responsibility for any delays caused by payment systems. Bank wire withdrawals may take 3-5 business days to complete, and users may be subject to additional fees charged by banks or intermediary institutions. The broker prohibits third-party deposits and withdrawals and enforces a "return to source" policy.
Partnership Program:
VT Markets offers a partnership program that provides substantial commissions and referral rebates, along with exclusive access to personalized, targeted marketing tools.
Customer Support:
Users can contact VT Markets only through email at [email protected]. Additional contact options may be available through the "Contact Us" section on their official website for customer support services.
Summary:
Although VT Markets claims to be registered in Australia and St. Vincent & the Grenadines and regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority of St. Vincent and the Grenadines (SVGFSA), one of these registered entities cannot provide services to retail clients, and the other is not regulated for forex trading and brokerage. In practice, services are provided by the South African entity VT Markets (Pty) Ltd, which operates under weaker regulatory oversight. Additionally, the broker offers limited communication options, primarily through email and online contact, leading to potential delays and communication errors in problem resolution. Furthermore, the broker has received multiple complaints regarding deposit and withdrawal issues. As of now, VT Markets is labeled as "Normal Operations" on Traderknows.
