VastWealth foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.vastwealth.io/real, about the company's legal and temporary regulatory information, the company's address The Financial Services Centre Stoney Ground, Kingstown St. Vincent and the Grenadines..
VastWealth Forex Broker
Basic Information
Saint Vincent and the Grenadines
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
VIP
PRO
Vastwealth Forex Broker - Complete Information Guide
1. Broker Overview
Vastwealth, officially known as Vallencio LLC, was established in 2022. The company is headquartered in Kingstown, St. Vincent and the Grenadines, operating primarily as a private entity. It targets a global clientele, focusing on retail forex traders and investors interested in trading Contracts for Difference (CFDs) across various asset classes. Despite its relatively recent inception, Vastwealth has quickly attracted attention in the online trading community.
Vastwealth's operational model is centered around providing access to forex and CFD trading, with a particular emphasis on leveraging high trading conditions. The company claims to offer a wide selection of trading instruments, including major currency pairs, commodities, indices, and cryptocurrencies. However, the lack of regulatory oversight raises concerns about the safety and security of client funds.
The broker's development history is marked by its establishment in an offshore jurisdiction, which is often associated with minimal regulatory requirements. This has led to a perception of Vastwealth as a high-risk trading platform. The absence of a well-documented management team or transparent operational practices further complicates its credibility.
As a vastwealth broker, it aims to provide a user-friendly trading experience, although the effectiveness and reliability of its services remain subjects of scrutiny.
2. Regulatory and Compliance Information
Vastwealth operates without any significant regulatory oversight. It is registered in Saint Vincent and the Grenadines, a jurisdiction known for its lax regulatory framework. The company claims to be regulated by the SVG FSA, but this entity does not provide meaningful oversight for forex brokers, as it only issues certificates of incorporation without enforcing compliance standards.
Regulatory Bodies:
SVG FSA (Saint Vincent and the Grenadines Financial Services Authority)
Regulatory Numbers:
No specific regulatory license numbers are available, as the SVG FSA does not issue licenses for forex trading.
License Validity and Scope:
The lack of a formal trading license indicates that Vastwealth is unregulated and operates without the protections typically afforded to clients of regulated brokers.
Legal Entities:
The main entity is Vallencio LLC, registered in Saint Vincent and the Grenadines.
Client Fund Segregation Policy:
There is no indication that Vastwealth implements client fund segregation practices, which are standard among regulated brokers to protect client funds in the event of insolvency.
Investor Compensation Fund Participation:
Vastwealth does not participate in any investor compensation schemes, leaving clients without recourse in case of financial loss.
KYC and AML Compliance Measures:
While the broker has a verification process, details on its Know Your Customer (KYC) and Anti-Money Laundering (AML) policies are not explicitly outlined, raising concerns about their effectiveness.
This lack of regulatory oversight and compliance measures is a significant red flag for potential investors considering the vastwealth broker.
3. Trading Products and Services
Vastwealth offers a variety of trading products, primarily focusing on forex and CFDs. The broker provides access to:
Forex Currency Pairs:
The platform supports over 50 currency pairs, including major, minor, and exotic currencies.
CFD Product Categories:
Indices: Trading options include major global indices.
Commodities: Clients can trade commodities such as gold, silver, and oil.
Stocks: Limited access to stock CFDs from various exchanges.
Cryptocurrencies: The broker offers trading in major cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Special Products or Unique Trading Varieties:
Currently, there are no unique products that set Vastwealth apart from other brokers in the market.
Product Update Frequency and New Additions:
There is limited information available regarding the frequency of product updates or the addition of new trading instruments.
Retail Trading Services:
Vastwealth primarily caters to retail traders, providing them with access to various trading instruments.
Institutional Client Services:
There is no indication that Vastwealth offers dedicated services for institutional clients.
White Label Solutions:
No information is available regarding white label solutions or partnerships.
Asset Management Services:
Vastwealth does not appear to provide asset management services to clients.
As a vastwealth broker, the product offerings are relatively standard, but the lack of regulatory oversight raises concerns about the safety and reliability of these services.
4. Trading Platform and Technology
Vastwealth claims to offer its proprietary trading platform, which is accessible via web browsers. However, specific details about the platform's capabilities are limited.
MetaTrader 4/5 Support:
Vastwealth does not support MetaTrader 4 or 5, which are popular trading platforms among forex traders.
Proprietary Platform Details:
The platform is marketed as innovative but lacks features commonly found in established trading platforms.
Web-Based Trading Platform:
The web trader is designed for accessibility but does not provide extensive information on its functionalities or user interface.
Mobile Applications:
There is no confirmation of a dedicated mobile application for iOS or Android, which limits trading accessibility on mobile devices.
Execution Modes:
The broker does not specify whether it operates under ECN, STP, or Market Making models.
Server Location and Technical Infrastructure:
Information regarding server locations and technical infrastructure is not disclosed.
API Access and Automated Trading Support:
There is no mention of API access or support for automated trading strategies.
As a vastwealth broker, the technological offerings appear to be insufficient compared to more established competitors.
5. Account Types and Trading Conditions
Vastwealth provides several account types, each with varying minimum deposit requirements and trading conditions.
Standard Account Conditions:
The minimum deposit is set at $5,000, which is relatively high compared to other brokers.
Advanced Account Types:
Higher-tier accounts include:
Standard Account: Minimum deposit of $25,000.
Pro Account: Minimum deposit of $100,000.
VIP Account: Minimum deposit of $250,000 and above.
Special Accounts:
There is no mention of special account types such as Islamic accounts or corporate accounts.
Demo Account Policy:
Vastwealth does not offer a demo account for prospective clients to practice trading.
Leverage Ratio Range:
The leverage offered ranges from 1:100 to 1:400, which is considered high and poses significant risk.
Minimum Trade Size:
The minimum trade size details are not provided.
Overnight Fees Policy:
Information regarding overnight fees or swap rates is not available.
The trading conditions presented by the vastwealth broker raise concerns, particularly regarding the high minimum deposit and leverage ratios.
6. Fund Management
Vastwealth offers various methods for depositing and withdrawing funds, but details are sparse.
Supported Deposit Methods:
Options include bank transfers, credit cards, and potentially some e-wallets, although specific methods are not detailed.
Minimum Deposit Requirements:
The minimum deposit varies by account type, starting at $5,000.
Deposit Processing Time:
The processing time for deposits is not specified.
Deposit Fees:
Vastwealth does not clearly outline any deposit fees.
Withdrawal Methods and Restrictions:
Withdrawal methods are not explicitly mentioned, and there are indications of limits on withdrawals that may vary by account type.
Withdrawal Processing Time:
The processing time for withdrawals is not disclosed.
Withdrawal Fee Structure:
Information regarding withdrawal fees is not provided.
As a vastwealth broker, the lack of transparency regarding fund management practices raises significant concerns for potential investors.
7. Customer Support and Educational Resources
Vastwealth provides limited customer support options, which may hinder user experience.
Support Channels:
Customers can reach out via phone, email, and potentially through online chat, although response times are unclear.
Service Hours and Time Zone Coverage:
The support team operates Monday to Friday, but specific hours are not mentioned.
Multilingual Support:
The primary language of support appears to be English, with no indication of additional language offerings.
Types of Educational Resources:
Vastwealth provides some educational materials, but specifics on the types (webinars, tutorials, e-books) are not detailed.
Market Analysis Services:
There is no mention of regular market analysis, news updates, or research reports.
Trading Tools:
The availability of trading tools such as calculators, calendars, or signal services is not specified.
The customer support and educational resources offered by the vastwealth broker are limited, which may impact the overall trading experience for clients.
8. Regional Coverage and Restrictions
Vastwealth operates with a global reach but has specific regional limitations.
Major Service Markets:
The broker targets clients globally, with a focus on regions such as British territories and South Africa.
Regional Office Distribution:
There is no indication of regional offices; the company operates primarily from its headquarters in Saint Vincent and the Grenadines.
Countries/Regions Not Accepted:
Vastwealth does not accept clients from certain jurisdictions, including the UK, due to regulatory restrictions.
Special Restrictions:
Specific restrictions on account types or services may apply based on regional regulations, but details are not provided.
As a vastwealth broker, the regional coverage and limitations reflect the challenges of operating in a highly regulated financial environment.
In summary, while Vastwealth presents itself as a trading platform offering various financial instruments, the lack of regulatory oversight, transparency, and customer support raises significant concerns for potential investors. Caution is advised for those considering engaging with this broker.
FX6915126312
United Kingdom
great trading platform, communication with the manager was solid and easy and they know their stuff, the platform was easy to use and I will use this broker in the future. Thanks for the good customer support.
Positive
2023-03-03