Vital Markets Forex broker review — Everything you need to know

Vital Markets is the company’s trade name, and the company is a financial broker without any regulation. The broker offers multiple account types and access to a multitude of asset classes.

In this unbiased review of Vital Markets, we will assess the broker’s most important features to define its safety, assets, accounts, support, and much more.

Vital Markets Overview of the website

The website of Vital Markets is well-organized, and all information is available in well-ordered menus. The website is responsive, and navigation is intuitive. Despite this, there are still some issues with the website. There are no details given regarding the spreads for many of the broker’s accounts, which is a serious downside. Traders have to dig deeper to find exact spreads or use the live chat.

Overall, the website of Vital Markets is fast and modern and allows for quick and convenient navigation.

Vital Markets Accounts Reviewed

Vital Markets offers plenty of trading accounts, and many of them come with similar conditions, such as 1:500 leverage for all of them. The broker only mentioned exact spreads for fixed spread accounts and is shady to disclose exact spreads on all other account types, which is a downside, and we assume the spreads are so high, the broker prefers not to show them to the audience.

The Vital Markets Micro account is a trading account with just a 10 USD minimum deposit and 0.5 pips spreads. There is a 5 USD commission per round trip. If true, this is probably one of the cheapest micro accounts out there, but we heavily doubt the spreads are this low.

Vital Markets ECN/STP trading account type also has a 10 dollar minimum deposit, spreads from 0.5 pips, but commission varies between 5 and 7 USD per lot round turn. Minimum lot size starts at 01 lot and while the maximum open position size is 1,000 lots.

The Vital Markets $0 commission trading account also has a 10 USD minimum deposit requirement, higher spreads (not specified), and 0 commissions. Minimum lot size is 0.1 lots.

The Vital Markets VIP account has a minimum deposit requirement of 25,000 USD, which is high. The commission is 6 USD per lot round trip and minimum lot size is from 0.01 lots. The broker does not disclose spreads here and only mentioned that it offers very tight spreads.

The Fixed Spread account by Vital Markets offers spreads at 0.5 pips, which is super attractive. There is a 5 USD per lot round trip commission and minimum deposit is also from 10 USD.

Deposit and withdrawal options at Vital Markets

When it comes to deposits and withdrawals at Vital Markets the broker only accepts cryptos. Among accepted cryptos are BTC, ETH, and several other altcoins. There are no fees charged on BTC while the broker charges 2.5% fees on all other crypto payments. The lack of any other payment options is a red flag as reputable brokers typically accept at least wire transfers.

Vital Markets Assets — What can you trade?

Vital Markets advertises itself as a multi-asset broker that enables traders access to diverse asset classes such as Forex pairs (majors, minors, and exotics), commodities (precious metals and energies), popular indices, cryptos (BCT, ETH, LTC, etc.), and even stocks. Popular stocks can be traded as CFDs, meaning both buy and sell orders can be executed.

Trading platforms of Vital Markets

The broker only provides access to TradeLocker, which is a modern trading platform, but still inferior to MT4 and 5. This platform is available for mobile trading as well and offers many useful features. The mobile app can be accessed from both Android and iOS systems, which is flexible.

Education at Vital Markets

The broker does not provide extensive learning materials to help beginner traders gain important practical and theoretical knowledge. Although there is a demo account, there are no tutorials offered for the trading platform, which is a downside. There are no webinars or trading courses available, which is a serious downside. From tools there is only an economic calendar offered.

Vital Markets Customer Support

The support is critical in Forex trading, and Vital Markets offers a 24/7 live chat, which is useful. There are also email and call-back options available. However, there is no phone support offered, which is a red flag. Reputable brokers all provide phone support options. The broker lacks multilingual support and the website is also only in the English language, which is also a downside. The broker has some advantages as well, with a 10 USD minimum deposit, up to 1:500 leverage, and fixed spreads of 0.5 pips on major pairs.

Vital Markets bonuses and promotions

The broker does not offer any bonus promotions, which is also a downside. There are no deposit bonuses or welcome bonuses to attract traders.

Is Vital Markets your broker? Final verdict

Overall, Vital Markets is not a broker that can be trusted as it is unregulated and does not disclose exact spreads in some cases. It only accepts crypto payments and does not provide phone support options. With these many red flags, we advise our readers to exercise extreme caution when dealing with this unregulated broker as risks are too high to ignore.

FAQs on Vital Markets broker

Where is Vital Markets based?

Vital Markets Ltd is a brokerage company that is registered in Saint Lucia, but it is not regulated anywhere.

Can you withdraw from Vital Markets?

We can not confirm the broker actually allows withdrawals, because the broker is not overseen by any authority.