Vix500 Review

Vix500 Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker is in this Vix500 Review.

Vix500 Review

Vix500 offers its clients several account types, depending on their initial investment amount. All account types provide commission-free trading, fixed spreads, on-deposit bonus, and micro tradeable lots on the industry’s standard MetaTrader 4 forex platform. Gold & Silver account holders get some extras, such as Weekly Market Analysis & Market News.

Besides, this broker offers Islamic (swap-free) accounts with no swap or rollover interest on overnight positions to investors of Islamic belief.

While the minimum initial deposit of $200 required by Vix500 is common for the forex market, spreads of 3 pips for the EUR/USD pair are way too high, as most brokers provide spreads within the range of 1.0 – 1.5 pips for this pair. Besides, we suspect that this broker uses a Market Maker model, as it offers only fixed spreads, and no ECN trading environment.

The Company. Security of Funds

Vix500 is a young offshore brokerage, offering online trading in currency pairs, commodities and precious metals on the popular MT4 platform.

Behind the brand is Blue Seal limited, a company, registered in Vanuatu. This is an offshore jurisdiction, which offers a variety of tax benefits – no income tax, no capital gains tax nor inheritance tax. Besides, registration process for forex and binary brokers is fast and low cost.

In addition, capital requirements in this specific jurisdiction are very low, even compared to other offshore destinations, such as Mauritius and Belize: only $2000. Little focus is placed on compliance checking and consumer protection in such zones.

According to Vix500’s website, all funds deposited and winnings earned by customers are kept in separate accounts. Nonetheless, we advise investors to avoid offshore brokers as a general rule, no matter what they claim, as the rules and requirements applicable to them are very lax, if any. That is why, we would recommend you to select a forex broker licensed in UK, or Australia for instance, where regulation is strict and financial watchdogs are on the alert.

Trading Platform

Like most brokers, Vix500 supports the most popular trading platform, MetaTrader 4 (MT4), available as desktop, web and mobile versions.

 

The platform has user-friendly interface and is equipped with advanced charting tools, large number of technical analysis indicators, wide range of Expert Advisors (EA), as well as extensive back-testing options for them. Vix500 welcomes all trading styles: hedging, scalping, automated trading.

Besides, VPS services are also available with this broker. Customers are entitled to request a free VPS upon trading a minimum of five round turn lots every calendar month and maintaining at least USD 5,000 in equity-credit.

Methods of Payment

Vix500 offers its clients the following payment methods: bank wire transfer and via credit/debit cards (Mastercard, Maestro, Visa), Union Pay and Western Union. Popular e-wallets such as Skrill and FasaPay are not available.

Note that the minimum withdrawal amount is $200.

Vix500 is a young offshore forex and CFD broker that offers online trading on the MT4 platform. Despite its non-regulated status, we find that its spreads are too high, and we suspect that it acts as a counterparty to the trades of its clients.

The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.

Vix500 Review Conclusion

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