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The Velocity Trade Review – Is Velocity Trade a Scam or Legit?

The Velocity Trade Review - Is Velocity Trade a Scam or Legit

Speedy Market Analysis

In the global realm of electronic trading, Velocity Trade Limited is the company to look to. In 2007, it was established. Velocity Trade Limited is an Australian company headquartered in Australia. The company is a global broker with offices in Canada, New Zealand, South Africa, and the United Kingdom. Over the past 15 years, Velocity Trade has expanded to become one of the most trusted names in the Forex trading industry. Additionally, it offers its customers services related to the trading of shares. It aids its clients by giving them access to a wide variety of trading products and strategies across a number of different markets.

The following are some of the broker’s distinguishing characteristics that make it a reliable business.

Types of Accounts

The requirements of traders and the regulatory agencies in the countries in which brokers operate determine the sorts of accounts brokers can provide.

All traders must use Velocity Trade’s live Standard account. After submitting a thorough online application with supporting documents, a new customer can start an account. In addition, the broker provides its Muslim customers with access to an Islamic Bank Account.

Security

Checking a broker’s licensing status is a must before signing up with them. A company’s safety standard is determined by the watchdog charged with overseeing it.

Several international organizations oversee Velocity Trade’s operations. The Australian Securities and Investment Commission, the Financial Conduct Authority of the United Kingdom, the Investment Industry Regulatory Authority of South Africa, and its counterparts in Canada and New Zealand are all examples of such agencies.

Money In and Money Out

There is no information on the broker’s website on how to deposit or withdraw funds, although standard procedures should work. Payment methods can be anything from a bank wire to a credit card to a debit card to an e-wallet like Neteller or Skrill. The bank accounts offered by Velocity Trade have no strict criteria, such as minimum deposits.

Leverage

Leveraged assets raise traders’ potential for gain while also raising their potential for loss. Therefore, one should make the most of this chance.

A variety of leverage ratios are available to customers in various parts of the world. In the European Union, for instance, clients are limited to a leverage of 1:30 by regulators, but Australians can take use of leverage of up to 1:500.

Bonuses

Investors can be enticed to sign up with a brokerage through bonus programs.

Because of ESMA laws, Velocity Trade cannot offer bonuses to its clients, such as a welcome bonus, deposit bonus, etc.

Earnings from Service Fees and Commissions

Trading on a client’s behalf results in a fee for the broker business known as commission. The commission that a broker collects is proportional to the value of the traded goods and the quality of service that was provided.

The fees incurred when using Velocity Trader change according on both location and asset. However, Velocity Trade’s fees are competitive with those of other online brokers. But their non-trading costs are significantly higher than average.

Financial Instruments and the Market

Customers of Velocity Trade can engage in trading across a diverse set of financial products. Over 200 different items are available for purchase or trade. Commodities, Forex, margin goods, indices, stocks, and futures are examples of possible financial instruments.

The Backbone of a Company: Support for Customers

Verify the brokerage’s customer service is strong before opening an account with them. Velocity Trade’s dedicated customer care team is available around-the-clock, six days a week to answer any questions its clients may have. Since they do not have a chat feature, the only way to get in touch is through the online application form.

Conclusion

Customers can take advantage of Velocity Trade’s user-friendly platform to make the most of their trading potential by making use of the latest tools and strategies.

Orizu Augustine
Orizu Augustine is an experienced crypto writer working for Alltechcraft. Having passion for writing, he covers news articles from blockchain to cryptocurrency and iPhone and Samsung related articles.