VastWealth Review –  Learn more about this Brokerage

The latest premium brokerage (VastWealth) is an online forex broker that specializes in helping you trade Contracts For Differences (CFDs) such as Forex, crypto, stocks and commodities. VastWealth has some good features such as low minimum deposits, decent commissions, the popular Easttech Trading platform and a choice of 4 different account types. However, also has some concerning weaknesses such as lack of regulation.

Below, we look at the similarities and differences between each account type. We found the accounts available with VastWealth straight forward as the main differences are the leverage offered but we are not able to see what else the VIP clients have access to.

Key Features Common To All The Accounts

• Islamic account
• Swaps are allowed
• Scalping and hedging are allowed
• Demo accounts are available for new traders

Leverage

VastWealth is an unregulated broker, meaning they are not bound by any leverage restriction that reputable regulators around the world may require of brokers. This means you can get up to 400:1 leverage instead of , for example max 30:1.

Account Fees

Hidden account fees are one of the reasons that people get concerned when coming into the trading space on a live account. The good thing about VastWealth is Transparency They have no withdrawal or deposit fees from the broker’s end. However, if you are using Blockchain to make a withdrawal or deposit, then there will be a processing fee from the Blockchain network.

Account Funding

VastWealth account funding can be done via these methods:

• Bitcoin direct transfer to another bitcoin wallet
• Debit/credit card via Visa or Mastercard
• Wire transfer

 

Account Withdrawal

These methods can be used to withdraw funds from the VastWealth account are identical to the deposit methods. This means that if you deposit with Bitcoin you are also to withdraw your funds though BTC, this is required for the international AML laws and protocols.

• Bitcoin direct transfer to another bitcoin wallet
• Debit/credit card via Visa or Mastercard
• Wire transfer

Minimum Deposit

The minimum deposit amount is $5000 for new traders, which have to be done through one of the main payment processing services like credit cards, visa and Mastercard’s or Wire transfer.

additionally investors are able to add funds to their accounts with cryptocurrency which is the fastest option

Account Fees Conclusion

In conclusion, the process of having to use bitcoin to fund a trading account is a good solution and is fast , IF you already have a wallet. Even though VastWealth doesn’t charge any deposit or withdrawal fees because they utilize bitcoin as one their main transaction method there are hidden blockchain transfer fees that are not stated.

Trading Platforms

VastWealth only offers one trading platform, this trading platform is the easytech webtrader but is available for all devices, mobile and desktop. As this platform is one of the world’s most popular trading platform for traders and brokers you can be sure you are getting a reliable trading platform to cover your needs.

All flavors of Trading platform are available including Trading platform for windows, android, iOS and MAC. WebTrader for trading through your browser is also available.

Features of The Trading platform include:

• It connects the trader to real-time prices and quotes to execute their trades at the most accurate rates
• It allows for multiple trading orders to be placed at once as well as trailing stops, take profit and stop-loss tools
• The easytech Trading platform has a full range of charting and technical analysis tools to forecast price movements. There is also an option for the trader to build their own indicators too.
• Demo accounts are available for beginner traders getting used to the platform

Regulation – Is This A Scam Broker?

VastWealth is an unregulated broker which means that it has not been approved by any regulatory financial authority.

It is hard to determine if an unregulated brokerage website is a scam or not because their license may be pending. This is the case for VastWealth as they are located in St. Vincent and The Grenadines and are currently in the process of applying for their license according to their website. One benefit of being an offshore broker is that they can accept clients from all around the world.

Security

The client’s funds are located in segregated independent accounts, therefore making it easy to distinguish different client funds. Another benefit is that client’s funds are kept off-book and won’t be used to pay creditors in the unlikely event that VastWealth has to shut down. An added security feature is the 2-factor authentication can be enabled giving another layer of protection to the customer’s accounts.

Customer Support

The customer service for VastWealth has 4 different ways to help.

The contact us page within their website and fill out a request form.
Or just emailing their support team directly.
Social Media and through their telephone.

FAQ – Ease Of Use

Another massive advantage of VastWealth is its user-friendly website that is easy to get around and always displays a well-detailed FAQ section with any further concerns a trader might have.

VastWealth Range Of Markets

VastWealth offers a good range of markets for CFD (contract for difference) trading. Trading CFDs can help diversify your portfolio and therefore can be seen as a defensive hedging strategy against large losses when trading.

Conclusion for the VastWealth Review

VastWealth.io is an online brokerage website that can be used by all levels of traders. VastWealth offers a wide range of markets for the majority of its account types.

The real benefit of choosing VastWealth is higher leverage and the ability to fund your account with Bitcoin.