VexTrader is a fairly new CFD broker, that came onto the scene in March 2021.
They are officially owned and operated by: VexTrader Group Limited, and located in Belize. Contact phone number in Canada is: +16474987871, and the email address is: [email protected]. Official website is: https://www.VexTrader.com/.
For complaints or withdrawal problems, read this.
VexTrader Broker Review
VexTrader offers investors and day traders like yourself, the classic MetaTrader 5 CFD trading platforms. Investors will quickly see that this broker offers, the MT5 web-based and desktop trading platform, along with mobile trading apps.
You will find a wide range of underlying assets for CFD trading including; Currency Pairs, CFDs On Commodities, CFDs On Indices, Spot Metals, Share CFDs, Cryptocurrency CFDs and Stock Trading.
It seems like this broker is marketing their automated trading systems, and their managed accounts. It is common to find managed accounts in the Forex sector, and it is the prime reason why most people lose money investing in Forex.
Forex is not an investment, and by using an unlicensed forex trader that you found on Instagram to manage your money, you will most likely lose money. Some brokers have “inhouse” money managers, which is purely a scam, because non of the government regulators like ASIC, FCA or IIROC allow their licensed brokers to offer such services.
See the Best MT5 brokers, look here.
Is VexTrader a Regulated Broker?
No, VexTrader is a Belize company that registered as an MSB in Canada, and as a company in Dubai. They do not have a license from the IIROC in Canada, which is the license that is required for CFD brokers. In Malaysia, the Securities Commission issued a warning to Malaysians to not invest with this broker.
The proper way for an investor to research their broker, to determine if the broker is a legal trading brokerage firm or a scam, is by verifying a valid government license. When you see that your broker has a license, and you have verified it with your governments regulatory agency, then you know they are a legal broker.
Compare Brokers
Hundreds of online brokers are all vying for your business, and there are a few brokers that have been around for many years, making them a popular choice, see here.
ForTrade is one of the fastest growing CFD brokers in 2021. They are licensed & regulated in Canada, United Kingdom and Australia, see here.
Go Try the Free Demo on their unique trading platform, signup here.
What was your experience investing with VexTrader Brokers? Please share your feedback in the comment section below.