Company Profile
Company Profile
Review summary
GENERAL INFORMATION
Vectra (vectraforex.com) is an offshore broker without any kind of regulation on its activities. The savvy traders among you will know what that means – the broker is up to no good. And indeed, with a malicious set of legal documentation and its headquarters in an offshore scam haven, it seems nothing good could come from trading with Vectra. Of course, the brokers trading conditions include a dangerous amount of leverage as well – even ignoring its regulatory issues, we cannot recommend trading with Vectra.
Vectra is not licensed in any capacity. St. Vincent and the Grenadines is an infamous offshore scam haven that is populated by scammers of all sorts. These companies are not licensed, because the government of St. Vincent does not regulate the countrys Forex markets. This means such brokers are incredibly dangerous – make sure you avoid them at all costs!
ACCOUNT AND LEVERAGE
Vectra forex offers two trading account each with different minimum deposit.
Vectra Standard
MetaTrader 4
$15 Min. Deposit
• 0.01 Minimum Lot
• Spreads From 1.8 Pips
• 24/7 Support
Vectra Sapphire
MetaTrader 4 RAW
$50 Min. Deposit
• 0.01 Minimum Lot
• Spreads From 0.1 Pips
• Education Centre
• 24/7 Support
• $6 USD/Lot Trade Commission
Vectra provides access to a leverage of up to 1:1000 to all of its clients. Retail clients are banned from making use of such amounts, however, as they are unsafe to them. The majority of brokers that still offer them to such clients nowadays are offshore firms like Vectra so be careful if you are offered such an amount.
As for spreads, Vectra has them at 0,1 pips for FX majors like the EURUSD, which is acceptable, but the broker is still unlicensed and dangerous.
TRADING INSTRUMENTS
Also no information regarding the tradeable assets on offered by the broker. But as know, the most popular trading instruments are: Forex, metals, cryptocurrencies, commodities, stocks and more.
TRADING PLATFORM
Vectra offers access to a distribution of Metatrader 4 . MT4 is an industry standard and a lot can be said about the benefits of trading with it. However, brokers like Vectra are best avoided in fact, some of them are actually not even trading your funds! The money is lining the pockets of the broker and the trading activity on the platform is entirely made up! Stay away from unlicensed brokers and stick to one that are able to prove they are legitimate, and also provide you with a good platform like MT4!
DEPOSIT AND WITHDRAWAL METHOD
The broker accepts deposits via credit cards and cryptocurrencies, with a minimum deposit of $30.
Crypto payments are becoming more and more popular, among brokers and their clients alike. However, while there are some advantages of these payments, there are also some significant pitfalls that make them best used with trusted brokers.
CUSTOMER SERVICE
Customer support is a crucial factor that makes a new customer into a loyal and long-term customer. As the world of trading is speedy, an investor needs proper customer support from their brokers to execute orders at the right time to avoid any potential losses. The brokers' responsibility is to be active on live chats, E-mails, helpline numbers, and discussion forums.
Regrettable to say this broker doesn't provide any email or phone number for their clients to make enquiries, which is also another red flag. The only option available is online chat or a form to fill Requesting for a call back.
