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Our test result: Based on our test, Vemarkets is a legit broker. In this article, you will find out what you need to know about this broker, what to expect and what the best auto trading software you can use to access Vemarkets are.
Vemarkets has recently gained popularity and now ranks among the most popular robot brokers on the market. Our test revealed that the broker is definitely legit and you can make profits on it. During our test, we saw significant returns, but we also found that the best way to make money on Vemarkets is to trade on it via Bitcoin Trader, an auto trading robot.
Keep on reading to find out more about why trading on Vemarkets through Bitcoin Trader is your best option and if you want to know more about Vemarkets’ fees, pros and cons and more.
What is Vemarkets?
Vemarkets is a robot broker currently owned and operated by Vemarkets LTD. Created in 2018, it is now amongst the most popular online brokers on the market. With over 1,000 financial assets available for trading, it offers one of the widest trading selections among the brokers we’ve reviewed so far. According to the website, its “ground-breaking technology”, “universal support” and the safety it offers, will guarantee a very positive trading experience that will help you make significant profits. While this may be true, it is important for us to point out that Vemarkets is not an auto trading robot like Bitcoin Trader or CryptoSoft.
Platforms like Vemarkets provide you with a trading space where you can safely invest in forex, cryptocurrencies, commodities and so on. The downside of trading on robot brokers is that they do not offer an auto trading option, meaning that if you are a beginner, you will have no support whilst trading. Automated robots allow you to set the platform in auto mode and the system will place profitable trades for you, without requiring you to take any action. That is the reason why we recommend trading on legit robot brokers like Vemarkets via auto trading robots. We’ve found that the best crypto bot you can use to trade on Vemarkets in particular is Bitcoin Trader.
We were not able to find any information concerning the regulatory status of this broker. There is no mention of organisations or agencies monitoring Vemarkets. While that may be a downside, it should not be a good enough reason to stop you from investing in it. The reason why there are regulatory agencies is to protect customers from the risks of online trading. Even though Vemarkets may be unregulated, it certainly does that. Through risk disclaimers, an education section and many other aspects, it definitely proves a willingness to protect the interests of users.
Is Vemarkets Legit or Scam?
Our test of Vemarkets has revealed that the broker is certainly not a scam. One of the ways in which we decide whether a broker is a scam or not is by checking whether it demonstrates having the protection of customers as a priority. Vemarkets provides great customer support services and has many other features showing a desire to protect users from the risks of online trading.
One of these features is transparency. The broker is very honest about the risks associated with crypto trading. Many brokers we have reviewed in the past attempted to hide such risks trying to trick users into thinking that profits are actually guaranteed when they are not. In fact, crypto trading is considered a ‘high risk’ activity that may result in a partial or total loss of funds. Other than that, the broker also has a legal section going into detail into all the aspects of trading on Vemarkets, including deposit and withdrawal policies, bonus policies and so on.
One thing that very few brokers make clear though, and that includes Vemarkets, is that it is easier for more experienced users to make money than it is for beginners. Advanced users have investment strategies to follow, they know where to search for the information they are looking for. That is why novices can feel a bit lost if they trade directly on robot brokers. They will not have the support they will definitely need being new to the world of online trading. If you are a beginner, we definitely recommend trading on Vemarkets via an auto trading robot.
The trading experience is another positive aspect of the broker. The trading space is suitable for all kinds of users and making money is possible. There is also a great variety of account types that you can choose from. There are quite a few other features that convinced us of Vemarkets’ legitimacy. Keep on reading if you want to find out more about them.
According to the website, Vemarkets offers over 1,000 financial assets for you to choose from. On the broker, you will have access to forex, stocks, commodities, indices and cryptocurrencies. The currency pairs include GBP/USD, EUR/GBP, EUR/USD, USD/HKD, CAD/JPY and much more. The stocks on offer include Apple, Google, Facebook, Microsoft and HSBC whilst some of the commodities are gold, silver, oil, gas, wheat and corn. The cryptocurrency pairs available include the most popular ones, such as BTC/USD, DASH/USD, DASH/BTC, ETH/EUR, ETH/USDT and so on.
During our test, we had a look at the trading platform offered on Vemarkets. The broker does not offer MetaTrader 4 or WebTrader, two of the most trusted and well-reputed trading platforms available and used by the vast majority of brokers online. The two platforms are so widely used because of their user-friendliness and suitability for all kinds of users, from the more inexperienced ones to the most advanced. That is because they are very easy to use but they also maintain the more complex functions that allow experienced traders to pursue more refined investment strategies, such as trading charts, history, financial news and much more. Vemarkets offers its own trading platform. Even though the platform is not preceded by any reputation, it is designed to suit all kinds of users like MT4 and WebTrader. You will be able to find the asset list, trading charts and history. We’ve found the platform to be similar to MT4 and WebTrader in terms of functions, so if you were to decide to trade on Vemarkets you would certainly not be disappointed by this aspect of the broker.
How to trade on Vemarkets through Bitcoin Trader (recommended)
How to sign up on Vemarkets directly (not recommended)
If you do not want to trade on Vemarkets through Bitcoin Trader, you can register on Vemarkets directly, even though we strongly suggest not to do so. Robot brokers, unlike auto trading robots, are not based on algorithms that allow you to sit back and wait for the system to make profits for you. When it comes to robot brokers, you have to do your own research and place your trades based on your findings. If you are an inexperienced trader, doing that can be extremely challenging because you most likely have not yet developed a trading strategy. If you are new to the world of crypto trading, investing on Vemarkets directly is probably not the best idea. Trading on it through Bitcoin Trader will increase your chances of making profit thanks to the system-s high accuracy rate. To start trading on Vemarkets through Bitcoin Trader, you can click here.
If you still want to sign up on Vemarkets directly, you can go on their website. You will be asked to type in your first name, last name, select your country, country code, phone number. You will also have to insert your email address and create a password, which you will then have to re-enter for security reasons. Finally, all that’s left for you to do is to accept the terms and conditions, which you will be able to access at any time, and to confirm that you are over 18 years old. Before you can start trading, you will also have to verify your account, which will require you to prove your identity and your address, which you can do by providing several documents. The process definitely takes longer than signing up on a crypto bot like Bitcoin Trader. Once you’ve registered, you can access the deposit page and put funds into your account and begin your trading experience.
Vemarkets offers six different account types. You will be able to choose between a Basic, Bronze, Silver, Gold, Platinum or Black account. Each upgrade requires a higher deposit in exchange for greater advantages. The Basic account requires a minimum deposit of $250 whilst the Bronze, Silver, Gold and Platinum accounts require deposits of $1,000, $2,500, $10,00 and $25,000. No information on the deposit amount required for the black account is provided.
As suggested by the name, the Basic account offers some basic advantages that are offered on all account types. These include 24/5 support, full access to the education center, the daily market review, informative webinars, price alerts and daily analysis videos. On top of these, the Bronze account offers a Junior account manager, whilst the Silver account not only offers a Senior Manager but also silver spreads. The Gold and Platinum accounts offer gold and platinum spreads as well as VIP Account Managers, trading signals and a personalised trading strategy. The advantages offered with a Platinum account that are not provided with a Gold account are the possibility to have a 1-on-1 trading trainer and exclusive position access. No information is provided for the Black Account. If interested, we suggest contacting a member of staff for information.
Leverage on Vemarkets goes up to 1:200. In case you are unfamiliar with the term, leverage is the debt an investor uses to buy a product. More specifically, traders basically use loans issued by the broker to make an investment. If Vemarkets offers a leverage of 1:200, it means that for every $1 you put in your account, you can buy $200 worth of assets. With a higher leverage, you can make larger profits. However, bear in mind that a high leverage can expose you to greater risk.
Commissions and Spreads
We were unable to find out detailed information about commissions on Vemarkets. As for the spreads, what we know for sure is that the spreads vary depending on the asset you are interested in. If you have a Silver, Gold, Platinum or Black account, you will be granted lower spreads than if you had other account types.
Deposits and Withdrawals
For deposits and withdrawals Vemarkets accepts a wide variety of payment methods. You can use debit of credit cards; VISA and MasterCard are all accepted. You may also use Comodo, PaySafe, Neteller Skrill and other payment methods such as bank transfer. Bank transfers are accepted in more than one currency but we are unaware of what these are. We advise contacting customer support if you wish to find out whether a bank transfer in your preferred currency is accepted. They will definitely be able to help you. We also recommend contacting support in case of any other problem you might have while depositing or withdrawing money even though we hope you will not need to do that.
According to the website, Vemarkets does offer a mobile app for both androids and iphones. We tried to find these apps by searching for them on the mobile stores and by clicking on the links provided on the website but we were unable to find them. We assume that they are temporarily unavailable, perhaps for maintenance reasons. This should not be a reason for concern though, because the broker is fully functional on browser, so if you have a smart phone with an internet connection, you will definitely be able to trade on-the-go with no restrictions.
Education and Resources
As we’ve briefly mentioned earlier, the Vemarkets website provides a very comprehensive education section as well. Once you’ve created an account on the broker, no matter what type it is, you will have full access to a wide range of informative resources to support you through your trading experience. These resources include video courses, eBooks, webinars and a glossary. All these tools are available in different levels so you will find resources that will suit you no matter whether you are a beginner, intermediate or advanced user. Other than these informative tools, you will have access to an asset index, economic calendar, financial news and daily analysis videos to help you find out the answers you are looking for in order to place the most profitable trades. These are particularly useful if you are familiar with the world of online trading.
Based on the description provided about the different account types available, it is safe to say that a bonus is currently available. Even though there is no specific information about it, we assume it is some sort of welcome bonus that will be available in your account and will have to be invested on top of your deposited amount. With a Basic account, you will be entitled to 20% of the full bonus amount, with a Bronze account you will have 40% and 60%, 80% or 100% if you have a Silver, Gold or Platinum account. We are not sure whether other bonuses or promotions are available at the moment, but new offers are advertised periodically, so we are certain that new bonuses will come up some time soon.
Customer support is available 24/5. You can contact a member of staff via phone or by filling in a support form. You will be requested to type in your name, email address, phone number and content of the message. You will also be required to select a topic between account verification, affiliation, billing, callback, general, media, promotions, technical support and trading platform.
During our test, we tried contacting customer support and received a response within a few hours. They were very professional and helpful, which is something we value highly when we review a trading platform. Users turn to customer support whenever they are experiencing difficulties and having a professional and well-trained team responding to your queries is certainly an addition to the reliability of the broker.
What makes Vemarkets unique?
As we have mentioned throughout this review, there are certain aspects of Vemarkets that make it stand out amongst other trading brokers.
- Provides over 1,000 financial assets to choose from.
- It is transparent about the risks associated with crypto trading.
- Has a high leverage.
- Offers a great variety of account types.
- It is user-friendly.
- Offers professional and responsive customer support services.
- Has a comprehensive education section.
- It is not clear whether it is a regulated platform.
- A mobile app is currently unavailable.