VIBHS is an STP forex broker, which offers a single account type. The company also provides spot gold trading as well as CFDs on equity indices and oil. There is lots of educational content on the company’s website, including a weekly update on the major instruments on focus.
The Company. Security of Funds
VIBHS Financial Ltd.
This is a relatively newly-launched brokerage brand of UK company VIBHS Financial Ltd. The firm is authorized and regulated by the Financial Conduct Authority (FCA). It also operates the Varianse broker brand. Since 2005, the VIBHS Group has actively provided liquidity to globally regulated exchanges in Dubai, Bahrain, Singapore and Mauritius.
FCA applies stringent requirements and standards to financial services providers in the UK. To acquire a license from the UK financial watchdog, brokerages must hold net tangible assets amounting to €730 000 and maintain it. Furthermore, clients` assets should be kept in segregated bank accounts, separated from the company operating funds, amd brokers must report to the regulator on a regular basis.
Most importantly, financial regulation in the UK involves a compensation scheme. All FCA-licensed companies are under the umbrella of the Financial Services Compensation Scheme (FSCS) and in the event of insolvency, there is a maximum compensation cover of £50,000 per person.
Minimum Initial Deposit
The minimum initial deposit at VIBHS is set at $200. Although this may sound fairly low to you, it is relatively high for the current industry standards. For instance FXCM only requires $50 for a new account to be created.
That being said, this should only be a consideration for new traders, who are willing to step it up after months of demo account trading. Industry veterans will tell you, much better capitalization is required in order to execute a solid trading plan.
Average spreads & Commissions
Spreads at VIBHS are variable. The EUR/USD spread was floating around 1 pip at the time of our testing, during the early European session – probably the most liquid time of the day. These conditions are very competitive with the current offerings by other FX brokers. By the way, have you ever wanted to check their spreads in real-time, without the hassle of opening multiple accounts? You are in luck, because you can check the comparison we have sey-up here.
VIBHS provides a maximum leverage ratio of 1:200. This is a more than sufficient offer for most trading systems. On the other hand, some FX brokers have gone even further, offering 1:500.
Keep in mind, most industry analysts state, the misuse of high leverage is the key reason why most forex traders lose money. Be sure to fully understand the principle involved with margin trading completely, before you start trading.
VIBHS offers its clients the industry’s Standard MetaTrader 4 (MT4) platform. It comes available as desktop, web and mobile versions with this broker. The platform has been in use for over 10 years now and has proved to be a reliable one.
The platform has many functionalities and add-ons that have been created over the years – most notably Expert Advisors, which allow full automatization of trades, and technical analysis indicators. MT4 also provides advanced charting tools and extensive back-testing environment. Here is a preview of the platform:
(VIBHS MT4, Click to zoom-in)
Methods of Payment
VIBHS offers several payment methods. They are Bank Transfer, Credit/Debit Card and e-wallets, such as China Union Pay, Dinpay and Quaife. As you can see, the company has chosen to integrate online solutions, which are popular in China, while leaving options Such as Skrill left behind. This may be a discomfort for some European clients, but overall, it’s not that big of an issue.
VIBHS is a new FCA-regulated broker that offers trading in forex and CFDs. Trading conditions are very competitive with the current industry standards. Our overall impression of this broker is rather positive
VIBHS Review Conclusion
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