Vista Brokers Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Vista Brokers Review.
Vista Brokers Review
Vista Brokers offers its clients a choice of three basic account types: mini, Standard and Pro.
In addition, Vista Brokers offers practice accounts, as well as swap-free (Islamic) accounts, which are Sharia compliant (for Muslim investors who are unwilling to earn interest for religious reasons).
Micro lots are available for trade in the Mini account.
The Company. Security of Funds
Vista Brokers is a foreign exchange and CFD broker founded in 2012. This is the brand name of Vista Brokers CIF Ltd an International Investment and Brokerage Company registered in the European Union and licensed by Cyprus Securities and Exchange Commission (CySEC).
CySEC applies certain rules and requirements to Cyprus Investment Firms. For instance, they must hold at least €1,000,000 as a proof of financial stability. addition, the Commission requires forex brokers to keep customer funds in segregated accounts, separated from the company’s operating funds.
As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation up to 20,000 EUR, If the company is in default. Similar compensation schemes apply in other jurisdictions.
Additionally, every CySEC- regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU under the MiFID Passporting Regime.
Minimum Initial Deposit
In order to open an account with Vista Brokers, traders have to invest a minimum of $100. Such minimum initial amount is considered average; however, many other Cyprus-based brokers require less. For instance, XM demands just $ 5 from its clients as a start.
Spreads & Commissions
All account types with Vista Brokers offer one and the same floating spreads, however commission fees vary from $9 to $26 per traded lot. So basically, trading costs on the Standard account are comparatively high, amounting to around 2.2 pips (spread averaged 0.5 pips on EUR/USD + $17 commission) and those on the Pro account – around 1.4 pips, which is average.
For purposes of comparison, Excess’s average variable spreads on the commission-free accounts amount to 0.9 pips on EUR/USD, and XM provides variable spreads from 1 pips on majors and also doesn’t charge any commission.
For more information, you may look up real-time spreads of 15 leading brokers here.
The maximum leverage level offered by Vista Brokers is 1:1000, which is a high ratio. However, many Cyprus-based brokers offer similar leverage levels – for example, XM provides leverage up to 1:888 and FXTM – up to 1:1000. Check out a list of brokers, providing leverage equal to or exceeding 1:500 here.
Nonetheless, we advise traders to be careful when trading on margin, as higher leverage involves greater risk of losses, which may even exceed the initial investments.
This broker offers its clients the standard forex market trading platform MetaTrader4 (MT4).
MT4 is an internationally acclaimed trading terminal, offering a full spectrum of trading tools and resources: more than 50 built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options for them. Traders can download ready-made or create their own EAs and let the program do all the work.
In addition, users can also benefit from the Trading Signals service on the MT4 by simply creating a MQL5 account.
MetaTrader 4 is available to clients of Vista Brokers as desktop and mobile versions. More brokers using the MT4 can be viewed here.
Unlike most brokers, Vista Brokers does not provide VPS – a virtual server that you can use for hosting your MT4 EAs, providing extra protection when trading forex.
By the time of writing this preview, Vista Brokers runs the following promotions:
– Negative balance coverage up to $1,000 (cannot be applied on more than once);
– 25% on Deposit Bonus applied to deposits from 500$ up to $10 000.
Methods of Payment
The following payment methods are available to Vista Brokers clients: credit/debit cards (Visa, MasterCard, Maesrtro), bank wire transfer and e-wallet payment systems, such as Skrill, Neteller, DINPAY, CashU and FasaPay.
Vista Brokers is a well-regulated broker that offers online in more than 80 forex currency pairs, various CFDs on indices & commodities, as well as precious metals through the MT4.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Vista Brokers Review Conclusion
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