Vinci Capital Markets Review
Vinci Capital Markets (VinciCM) offers several commission-free trading accounts, depending on the initial deposit amount. All of them provide market execution with variable spreads and micro tradable lots. Besides, there is a Premium account with fixed spreads, but information about it is sparse.
Unlike most brokers, this one does not offer free practice accounts.
The Company. Security of Funds
A newly-fledged company, Vinci Capital Markets is a forex broker, offering multiple assets for trade, including various currency pairs and a wide range of CFDs on indices, stocks and commodities on the Sirix platform. In fact, Sirix is a software developed by the company behind the brand – Leverate.
Leverate Financial Services Ltd. is a well-known provider of software solutions for the forex sector. In December 2015, the company launched a retail brokerage called LegacyFX that operated under the Cyprus license of the firm, but it was shut down in May this year. The company has also stopped selling its binary options platform BX8 in August. VinciCM is Leverate’s new start-up brokerage brand.
The company is headquartered in Cyprus, Limassol, and has offices in Tel Aviv, Hong Kong, Kiev, Shanghai, and Berlin. It provides the forex trading platforms Sirix, as well as a social trading platform, integrated into it. Leverate Financial Services Ltd. is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC).
CySEC applies certain requirements to license holders and sees to the compliance with the rules set. For instance, customer funds must be held in segregated accounts. Besides, the Commission requires forex brokers to hold at least €730,000 as a proof of good financial standing.
As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which can pay compensation to its covered clients up to €20,000, in the event a regulated broker becomes insolvent or ceases trading.
Moreover, every CySEC-regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services in every EU Member State.
Minimum Initial Deposit
VinciCM’s clients are required to invest at least $250, which is an average amount to start with.
Spreads & Commissions
Vinci Capital Markets offers mostly variable spreads, which are high for the forex market, even though no commission fees apply. The typical spread for the EUR/USD pair is 2.4 pips on the Silver account (accessible with $25 000). In comparison, average spreads of Cypriot brokerage XM on EUR/USD amount to 1.7 pips, no commission applies (and minimum initial deposit is just $5).
For more information, you may look up real-time spreads of 15 leading brokers here.
The default leverage with this broker is 1:50, in line with CySEC latest regulations. The maximum leverage level offered VinciCM is 1:200, which is average. If you need higher leverage, many Cyprus-based brokers offer such: XM, for example, provides leverage up to 1:888. Check out a list of brokers, providing leverage equal to or exceeding 1:500 here.
Nonetheless, we advise traders to exercise caution when trading on margin, as higher leverage involves greater risk of losses, which may even exceed initial investments.
If you are looking for the most widely used forex trading platform, MetaTrader 4 (MT4), you will not find it with this broker. Clients of VinciCM are offered the all-in-one forex and social trading platform Sirix, created by the company behind the brand, Leverate. The platform has been developed in HTML5 and is compatible with both Windows and Mac OS operating systems. It is available on web, mobile and as a download version. Traders may also connect to the platform using either a FIX or PHP API connection.
Sirix was launched in 2012 and revolutionized the market with its sophisticated social trading capabilities. Investors may copy trades directly from the “Social Stream”. The “Copy” function enables them to have positions opened, updated and closed without any explicit action or confirmation on their side.
The Sirix platform is equipped with built-in advanced indicators and charting options. Charts can be displayed in various timeframes and traders can add their own lines, measures and annotations.
Methods of Payment
The following payment methods are available to Vinci Capital Markets clients: credit/debit cards, bank wire transfer, and e-wallet payment systems, such as Skrill, Neteller & Safecharge.
Vinci Capital Markets is a well-regulated broker that offers online trading in wide range of products on the Sirix platform. According to us, the main disadvantage of this broker is its high spreads, which are above 2 pips on average.
Vinci Capital Markets Review Conclusion
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