Vaultoro Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Vaultoro seems to specialize in the trading of precious metals, but I haven't seen any regulatory information. This kind of business is definitely not something that any company can do. is it safe?
Vaultoro has emerged as a distinctive platform that allows users to trade Bitcoin for physical gold, offering a unique blend of cryptocurrency and precious metal trading. Overall, reviews suggest that while Vaultoro presents a compelling option for those interested in diversifying their investments into gold, there are notable limitations, particularly regarding its regulatory status and the range of available trading pairs.
Note: It is essential to recognize that Vaultoro operates through various entities across regions, which may influence user experience and regulatory oversight. The platform's approach to transparency and security, however, aims to mitigate these concerns.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7 |
| Tools and Resources | 8 |
| Customer Service and Support | 7 |
| Trading Experience | 8 |
| Trustworthiness | 6 |
| User Experience | 7 |
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data regarding the broker's operations.
Founded in 2015 by Joshua Scigala and Philip Cigala, Vaultoro is headquartered in Cardiff, Wales. The platform specializes in enabling users to buy and sell gold using Bitcoin, standing out as one of the few exchanges that facilitate direct trading between these two asset classes. Users can access the trading platform via a web-based interface, although there is currently no mobile application available. Vaultoro does not support fiat currency transactions, focusing solely on cryptocurrency, primarily Bitcoin and Dash, for all deposits and withdrawals.
Regulated Geographic Areas: Vaultoro is not regulated by any major financial authority, which raises some concerns about user protection. However, it operates under UK corporate laws, and its gold is stored in secure Swiss vaults. This arrangement provides a level of assurance regarding the physical assets held on behalf of users.
Deposit/Withdrawal Currencies/Cryptocurrencies: The platform exclusively accepts deposits in Bitcoin and Dash. Users must acquire these cryptocurrencies from other exchanges before transferring them to Vaultoro. Withdrawals are similarly processed in Bitcoin or physical gold, with minimum withdrawal limits applying to gold.
Minimum Deposit: There is no specified minimum deposit requirement, making it accessible for new users to start trading.
Bonuses/Promotions: Vaultoro does not offer any promotional bonuses or incentives, which is a common practice among many cryptocurrency exchanges.
Tradeable Asset Classes: The primary assets available for trading on Vaultoro are Bitcoin and gold, with a focus on the BTC/gold trading pair. This limited selection may not appeal to users looking for a broader range of cryptocurrencies.
Cost (Spreads, Fees, Commissions): Vaultoro's fee structure is relatively straightforward. Trading fees for gold transactions range from 0.5% for transactions under 500 grams to as low as 0.2% for transactions exceeding 5,000 grams. There is a monthly storage fee of 0.4% of the gold volume, calculated daily. These fees are competitive compared to traditional gold trading platforms but may be considered high for users expecting a wider range of trading options.
Leverage: Vaultoro does not offer leveraged trading, focusing instead on direct asset exchange and investment.
Allowed Trading Platforms: The trading experience is facilitated through a web-based platform, which is designed to be user-friendly, featuring basic charts and an order book. However, advanced trading tools are limited compared to other exchanges.
Restricted Regions: Vaultoro is accessible to users in over 95 countries, including the US, Canada, and several European nations. However, it does not accept fiat currency, which may deter some potential users.
Available Customer Service Languages: Customer support is available primarily in English, and users can reach out via email or social media channels. The absence of live chat support has been noted as a limitation by some users.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7 |
| Tools and Resources | 8 |
| Customer Service and Support | 7 |
| Trading Experience | 8 |
| Trustworthiness | 6 |
| User Experience | 7 |
Account Conditions: Vaultoro offers a straightforward account setup process, requiring basic KYC verification. However, the lack of account tiers or differentiation may limit some users' experiences.
Tools and Resources: The platform provides essential trading tools, but the absence of advanced features may deter more experienced traders. The integration of educational resources could enhance user engagement and understanding of the trading process.
Customer Service and Support: While customer service is generally responsive, the lack of live chat options is a drawback. Users have expressed satisfaction with the support available through social media and email.
Trading Experience: Users appreciate the simplicity of trading on Vaultoro, as transactions are executed swiftly. However, the limited asset offerings may not cater to all trading strategies.
Trustworthiness: The lack of regulation is a significant concern for potential users. However, the physical gold is stored securely, and the platform employs robust security measures to protect user funds.
User Experience: Overall, users report a positive experience with Vaultoro, particularly praising its unique approach to trading Bitcoin for gold. However, some have noted the need for more diverse trading options.
In conclusion, Vaultoro presents a unique opportunity for investors looking to combine cryptocurrency trading with precious metal investments. While there are certain limitations, particularly regarding regulatory oversight and asset diversity, the platform's innovative approach and user-friendly interface make it a noteworthy contender in the cryptocurrency exchange market. For those interested in trading Bitcoin for gold, Vaultoro remains a viable option worth considering.
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