VivoTrader. What you should know about them
With the large variety of brokers that you can find online, it is hard to know which ones you can trust. VivoTrader is one of the many brokers online. Before you can select your broker that you are going to use online, you need to know that you can trust them.
This is why it is essential to do as much research as possible to know everything about the broker that you are going to use. With VivoTrader, there are many reasons why you should not trust them, and for sure not use them to trade.
VivoTrader is situated in Estonia and is known as forex and CFD brokers. They have a variety of cryptocurrencies that they are trading with. There isn’t really much information about the different currencies that they are trading with, and it is hard to get that information.
They do have a valid address and telephone number. And, they are connected to a company in Estonia. However, this is an offshore company, and this is making them risky to use.
Are they registered and regulated?
The first thing that you should know about them, as if they are registered and regulated. The answer is quite simple. No, they aren’t registered internationally, and they aren’t regulated.
This is the first sign that this might not be the best broker to use if you want to start trading. The most important thing to look for is if they are registered and regulated. They aren’t, and this is putting the money you are depositing into their account at risk. It is essential to use brokers that are regulated. Then, you will know for sure that they aren’t able to scam you with the money you are investing.
Benefits of using VivoTrader
This is what are making traders confused. Even, if VivoTrader has many reasons why you should not use them, there are still some good reasons why you can use them.
For example, they offer a huge selection of cryptocurrencies that you can use. A lot more than most of the other brokers. And, they have different accounts that you can choose from. They also offer compatible spreads that are making it better to trade.
There are five different account options that you can choose from. Making it better and easier to choose the account option that is going to work best for you. However, the one thing that you should know is that their minimum required a deposit is huge.
This is much higher than most other brokers. With the other negative things about the broker, you should make sure that you consider all the account information carefully before you are making your final decision. You need to remember that the more deposit you are paying, the higher the risk is to lose a lot of money with an untrustworthy broker.
Negative feedback from traders
Something serious that you should consider as well is the feedback that VivoTrader is getting from traders. Most of the feedback is negative and they don’t recommend them as brokers.
If so many people are warning you against the brokers, you need to know that there is a good reason for it. And, that it is better to consider what they are saying before you are making the same mistake.
Limited payment options
This is mostly the unreliable brokers that are making use of limited payment options. They can’t use the payment options that guarantee that you will get your money back if you don’t get the service they promise.
This is why so many unreliable brokers don’t have all the payment options that the trustworthy brokers do have.
Dodgy withdrawal rules and regulations
Not only are their required deposit so high, but they also have some dodgy withdrawal rules and regulations. Making it really hard to withdraw your money from their account to yours again. This isn’t recommended to use a broker that is making it hard to get your money back into your account. And, this is just one of the reasons why you should not consider making use of VivoTrader.
Regulators warnings about using VivoTrader
Regulators are warning all traders about using VivoTrader. This is because they aren’t regulated, and they aren’t trustworthy as well. This is a huge risk to use them, knowing that they can close or cancel your account without any warnings. They are also warning against VivoTrader because of the different negative comments that traders are giving about these brokers.
VivoTrader isn’t as legit as what you might think. There are many irregularities that you should know about them before you can consider using them as your broker. Regulators are warning you against using VivoTrader because they are an offshore service that has many complaints against them.
It is also known that their account deposits are really high and that they don’t have a great customer support option. Making it really risk to use them, when you are looking for a broker to start trading with.