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Virtueforex review : virtueforex is an online trading platform that was recently established by group of acclaimed experts. They offer trading platform with MetaTrader softwares on assets like forex, CFDs and cryptocurrencies. The broker assume to be located at 483 Green Lanes, London, N13 4BS, United Kingdom.
However the broker is operated by VirtueTechnologyGroup, with branch in 3 country. Virtueforex.com is a domain provided by godaddy.com since 2016. The virturetechnologygroup use this domain to provide financial services.
Today the claim to be the fastest growing platform and most trusted broker. Its unfortunately when we visited the broker, we saw no reason to believe those wards. Well if you as at trader have reasons to convince us, then we will be glad to use the broker.
In today’s trading platform, every one claim to be the best, most importantly, you might find it difficult to get 1 out out 30.
But if you can only understand how we rate and recommend, you will not make mistakes. Please make sure to read this virtue forex review complete before heading over to the broker. Check if you can trade with iqcent broker, Well recommend.
Account Types
Virtueforex broker offer 2 account types to traders, the first is demo, while the other is live mt4 account. In the mt4 account, there’s a forex account and qrypto account. The forex account take minimum deposit of $100, which come with leverage up to 500:1. In the qrypto account, there’s a leverage up to 1:1 and minimum deposit $100.
Therefore if you want to trade with the broker, you either check it with demo Account or trade with mt4. The demo account is is easy to open, just registrar demo account and download mt4. However to trade on the live mt4, just download mt4 app, and login with your data. Note that this account accommodate smartphone mt4, MAM/PAMM/LAMM.
MAM(Multi Account Manager)
In virtueforex, MAM investment is a method in which investors entrust funds to their FX account. However equally entrust their trades to account managers (operators). Investors can view open orders and transaction history in their account in real time. Investor’s accounts are under gains / losses as a result of transactions by account managers (operators) according to the margin ratio.
Read mt4 professional scanner review
Virtue Forex Trading Platform
Just like we have already listed on the account types, all platform is mt4. However we all know that mt4 is one the best trading platform. But when we checked the platform, it’s very intuitive with indicators. They made sure that their system executes your trade instantly. Other platform features include pamm, mamm and lamm. This features allows special account manager to access your account and make trade.
VirtueForex Trading Conditions
There’s a broker’s spread of 0.7 pips for the EURUSD currency pair. Such narrow spread is too good to be true – even the biggest forex brokers rarely can afford to offer spreads below 1 pip, and then only to professional traders dealing with sizable lots. Not surprisingly, the EURUSD spread we see with the MT4 Demo account is floating between 1.5 and 2 pips, which is more in line with standard trading conditions, even a bit on the high side.
The statements concerning leverage are also inconsistent. First in the Comparison table we mentioned above they say 1:1000; on the Live Account Application Form, however, the options were only up to 1:500. In any case, even the latter is quite excessive. In Europe and the US leverage for retail brokers is 1:30 and 1:50, respectively, by the regulation authorities. High leverage provides huge profit potential, but it also presents great risks to the traders because any losses will be multiplied.
Is virtueforex legit?
Is Virtueforex legit or just scam? The trading platform is not regulated, not reliable. Therefore virtueforex is not legit, however in process of our review, we visited the company. However after some check on how they operate, we decided not to recommend them. The broker is an offshore investment platform covering their real identity with mt4.
Checking the company, it said to be regulated but not. It said to have Office in 3 country but not. Therefore since we can’t trust this broker to be safe with your investment, we say no to opening account. Virtueforex is not legit because we don’t know those experts behind this platform.
Is Virtueforex Regulated?
In the process of virtueforex review, we visited the site and we saw regulatory compliance. They assume to be registered with the AVISO LICENCE:155609612-2-2015-2015-478002. But this is very unbelievable as they didn’t mention the regulatory body that issues that license.
Virtue Forex Payment methods
Virtueforex broker offer multiple payment methods to traders. However you should know that the payment methods used to deposit is the the same to withdraw. Therefore payment methods available are VT cash, bank wire, and cryptocurrencies.
Virtue Forex Conclusion
Are we for or against virtueforex broker?. Well we will conclude our virtueforex review by telling you that they are not legit. If you wish to start trading with confidence in platform tested, go for NSBroker. Its important you absolutely stay away from unregulated broker. However virtueforex broker is one,so you should consider looking at our top forex brokers. As you trade, please try as we to know new scams.