Vital Markets claims to offer access to many financial markets: Forex, Commodities, Indices, Shares, and Cryptocurrencies. While this looks like a reliable trading platform with many tools that can be used by traders, further examination shows that there are numerous significant problems.
Let us discuss what this broker has to offer and highlight why many traders remain cautious about trading with this broker.
Vital Markets Overview
- Company Name: Vital Markets
- Website: https://vitalmarkets.com/
- Address: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia
- Regulation Status: Not Regulated
- Operating Since: 2016-07-08
- Warned By: No Warning
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We’ve created a brief video that highlights the main warning signs of Vital Markets. View it here:
Is Vital Markets Legit or Risky?
No Regulatory License
One of the concerns is Vital Markets’ lack of any regulatory license. There are no regulatory licenses from financial regulatory authorities, nor licenses from regulatory bodies.
That means:
- No third-party oversight
- No Insurance or client fund protection
- No recourse if things go sideways
Trading with unlicensed brokers leaves funds highly vulnerable to risk. It is safer to trade with a regulated trading platform that has enforceable financial standards for the regulatory order in which it operates in the markets and regulated dispute resolution processes. This is not the case for Vital Markets.
Platforms & Features: MT4 and MT5
Vital Markets does provide access to MT4 and MT5 platforms, which provide access to the benefits of :
- Advanced charting tools.
- Automated trading features
- Hedging opportunities
- Social trading features
Although this may sound appealing, having MT4/MT5 does not mean the broker is trustworthy.
Limited Payment Options – Crypto Only
Another problem is that Vital Markets takes deposits in crypto like BTC, ETH, XRP, and USDT.
Why is this a problem?
- Cryptocurrency payments are irreversible; once you make a payment, you won’t get your money back!
- They do not offer credit card or bank transfer options – It minimizes secure dispute resolution.
- Many higher-risk brokers use this model to avoid consumer refunds and remain anonymous.
Poor User Feedback and Trustpilot Rating
Vital Markets currently has a 2.6 rating on Trustpilot (quite low). Actual user reviews look like:
- “Worst prop firm ever.”
- “Don’t waste your time. They are just using your data to build their brand!!”
- “When the mail request was unsuccessful, Ample Edges contacted me right away to rectify.”
These comments identified:
- Possible technical issues in the execution of trades
- Potential manipulation of positions
- Poor customer service
- Concerns about the use of personal information
Not for U.S. Citizens – But Why?
U.S. citizens and residents are not allowed to use Vital Markets services. This is presumably because of the strict financial regulations in the U.S.A., which would definitely leave unregulated brokers at risk of legal consequences.
Sometimes it can be an indicator that a broker who steers clear of servicing well-regulated countries just can’t comply with those regulations.
Final Thoughts – Should You Trust Vital Markets?
While Vital Markets professes you can keep your funds, have full access to advanced trading platforms, the lack of regulation, crypto-only funding, and poor user ratings don’t add up to a good situation.
Key Red Flags:
- Unregulated and unlicensed
- Crypto-only deposits (irrevocable)
- Low trustpilot score
- Bad trade execution and high spreads
Been Affected by Vital Markets? We Can Help.
If you’ve had an experience with Vital Markets that was negative, or are finding it hard to withdraw your funds, head over to BrokersReviewer.com to:
- Report your case
- Read verified broker reviews
- Get assistance from recovery specialists
Stay informed. Read broker reviews, compare platforms, and always verify licensing details.
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