A detailed VivoTrader review for the benefit of CFD traders
VivoTrader is a strange website. Some may even think that a VivoTrader Scam is possible. The very first time we went on it, we thought that the broker would have the platform to trade Forex, but it turned out that the main product the company specializes in is cryptocurrency related product trading. While exploring more into the subject we found that the Vivotrader Forex broker isn’t really a Forex brokerage at all, but is more of a broker that allows for the trade of cryptocurrency assets, CFDs. Though the broker does mention a few times, on their website and in screenshots of their platform, that they allow Forex trading. This leaves us a little confused. So let us look into the website a little more and see why this confusion exists.
The website design is not something that stands out too much. We have seen this design many times before, with most brokerages going for beautiful imagery and a scroll friendly design. Though, this design does not seem to permeate any deeper into the website than the homepage. The rest is occupied by a rather simple combination of white, black and gold and lots and lots of text. The lack of a more intricate design or even the presence of something that would be more inviting and more useful to the users leads us to lower the Vivotrader rating by a little. Even if we do not believe that design should be one of the main qualifiers, a poor design usually comes with us being suspicious of the honesty of the organization.
The website offers several tabs that you can travel to, one of them being the “trade” tab. This seems to be the main display of the “platform” for the website, which we will comment on a little later in the review. The rest of the pages are dedicated exclusively to Bitcoin and crypto related subjects. There is the Bitcoin trading tab which is redundant since there is also a Cryptocurrency trading tab. There is also an ICO listing tab, a banking tab, and the Academy tab. In reality, all of these are dedicated to educating users about cryptocurrencies, with only the ICO page having a relatively unique nature. There are no mentions of Forex here, which is what leads us to believe that Vivotrader FX brokerage does not operate with foreign exchange at all in the first place.
Which is supported by the fact that at the bottom of the page, where the general terms are given, there is a short sentence speaking about how the website does not facilitate cryptocurrency sale or purchase and only concerns itself with “crypto asset trading”. What else, other than crypto CFDs, are they talking about if not about cryptocurrencies?
Our VivoTrader opinions on their offers and platforms
Vivotrader does not seem to have any spreads, pips, fees or other details listed regarding the cost of operation with them. They don’t have a traditional trading platform like a VivoTrader MT4 as you would be expected from a broker. This is only a little strange. Though we have already established that despite their claims, they are not really a Forex broker, so it is not surprising they do not have anything of that sort listed. What they do have on their website is an offer of several types of accounts, depending on the deposit the user makes. Vivotrader bonus is not something you will be able to land, but the types of accounts they have might be interesting to consider.
The account types are basic, bronze, silver, gold, platinum and “black”. Each seems to offer progressively better terms, but the terms seem to be more along the lines of bonuses, rather than changes to the cost of operation. The most interesting is the exclusive position access that the opportunity that is offered to the Platinum members, but it does not seem to be explained any further. What seems rather funny about the account types are the amount of money you would have to deposit with the broker to be able to access any one type of account. Can Vivotrader be trusted with the kind of money? The answer is yes. They have a high level of security and a great reputation for keeping funds and information safe.
The lowest deposit is two hundred and fifty, which gives access to the basic account. Though this seems a little strange since the minimum deposit as defined by the terms and conditions of the company seems to be five hundred Euro. The next step is ten thousand Euro, which is a huge jump in the deposit requirement that will allow you access to the “silver” account. The Platinum account requires a five hundred thousand Euro deposit, which is not something any average trader will be able to afford. These are prices that seem to be aimed at not having client have such accounts or having high-net-worth individuals to trade with them. Which is not a negative aspect, but more a way to encourage only those who qualify to rade with them. A good way to make sure that no people lose more money than they can afford to lose.
The Black account type is the highest. It basically offers custom terms for a custom deposit, which we are unable to determine the maximum for, though it seems the deposit would have to be over five hundred thousand Euro. The Vivotrader review would need even more information to make any conclusive remarks regarding the Black offer, though we are sure any individual interested in this offer would be able to negotiate a deal that fits them best.
The broker mainly offers their users trade in Crypto CFDs and seemingly cryptocurrency related products. They also offer their users information and participation in a number of ICOs that are listed on their website.
The “Academy” is another offer that the broker has for its users, which basically allows them to learn more about the industry. In this part of the broker’s offers, the users will be able to learn how to trade better with the help of general and even individual training. Quite the opportunity for any trader looking to get into the business.
License and Reputation
After doing some research on the good old interwebs, we were able to figure out that the Vivotrader reviews online are extremely positive. We do not mean reviews by websites either – what we are looking at are the user reviews, who have done some trading with them and some other brokers. The reviews usually rave about the fast response time by the support team, the great learning they have been doing with the academy and the amazing profits they have been making with the company. Of course, there are some users that have not managed to do as well as the others, and you can see that in the reviews – there are some negative ones, based entirely on the fact that the user did not end up making the money the wanted to make. This will occur from tie to time. Cryptos are a risky business and you will not always be able to make the right decision and the profit you were hoping for. It seems that the general VivoTrader opinion is quite positive.
Is VivoTrader fraud possible?
While Vivotrader faces some issues in terms of design and the detailing of the things they offer to their clients, overall the company seems to have some very nice things to offer to their clients. Education, one on one instruction, crypto ICO participation and the great support brings us to a very positive conclusion. In our opinion, the only answer to the question “is Vivotrader legit?” is yet.