VastWealth Review ~ Bitcoin Brokers List~ Everything about this Broker
The latest premium brokerage (VastWealth) is an online CFD broker that specializes in helping you trade Contracts For Differences (CFDs) such as forex, crypto, stocks, indices and commodities.
VastWealth has some useful qualities, such a large range of market, all trading strategies allowed, the popular Easytech Trading platform and a choice of 4 different account types. However, it also has drawbacks, such as a absence of regulation.
Below, we look at the parallels and distinctions between each account type. We found the accounts available with VastWealth concise, as the main dissimilarities are the leverage offered.
VastWealth Trading Account options
Key Features Common To All The Accounts
- Islamic account
- Swaps are permitted
- Scalping and hedging are permitted
- Demo accounts are available for all traders
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Leverage offered
VastWealth is an unregulated broker, meaning any leverage restriction do not restrain them that regulators worldwide may demand of their brokers. This means you can get up to 400:1 leverage instead of, for example, max 30:1
Minimum Deposit with VastWealth
The minimum deposit amount for trader to open their live trading account is $5000, which has to be done through one of the primary payment processing services like credit cards, visa and master cards or Wire Transfer.
Additionally, investors are able to add funds to their accounts with cryptocurrency, which is the fastest option.
Account Fees
Hidden account fees are one of the reasons that people get concerned when coming into the trading room 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, there will be a processing fee from the Blockchain network or the bank may charge you for the transfer but this is not processed from the brokers side.
Account Funding
VastWealth account funding can be done via these methods:
- Wiretransfer
- Bitcoin direct transfer to another bitcoin wallet
- Debit/credit card via Visa or Mastercard
Funds Withdrawal
These methods can be used to withdraw funds from the VastWealth account and are identical to the deposit methods. This means that if you deposit with Bitcoin, you are also to withdraw your funds through BTC. This is required for the international AML laws and protocols.
- Wiretransfer
- Bitcoin direct transfer to another bitcoin wallet
- Debit/credit card via Visa or Mastercard
In conclusion, using 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 of their main transaction methods, there are hidden blockchain transfer fees that are not stated.
Trading Platforms
VastWealth 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 platforms for traders and brokers, you can be sure you are getting a reliable trading platform to cover your needs.
All flavours of the Trading platform are available, including a 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 any financial regulatory authority has not approved it.
It is hard to determine if an unregulated brokerage website is a scam because its license may be pending. This is the case for VastWealth as they are located in St. Vincent and The Grenadines and are currently 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, making distinguishing different client funds easy. 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 that 2-factor authentication can be enabled, giving another layer of protection to the customer’s accounts.
Customer Support
Customer service for VastWealth has four different ways to help.
The contact us page on 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 it’s user-friendly website which 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 significant losses when trading.
Conclusion for the VastWealth Review
VastWealth.io is an online brokerage website that caters to traders of all levels but because of the higher initial deposit it main clients that choose to trade with this broker are the more seasoned traders. These traders receive a mature and solid trading package and light speed execution’s. Contrary to the initial deposit height the spreads are very competitive and overall trading conditions are good.
