VPFX Review 2024

Quick Links

• Our Review Method

• What is VPFX?

• VPFX Pros and Cons

• Is VPFX Safe or a Scam?

• Leverage

• Accounts

• Instruments

• Fees

• Spreads

• Deposits and Withdrawals

• Trading Platform

• Trading Tools

• Customer Support

• Education

• Conclusion

Our Review Method ▲

In our comprehensive review process, we meticulously analyze and compare forex brokers to provide you with clear and reliable recommendations. Our method involves evaluating a wide range of critical factors such as regulatory compliance, trading platforms, fees, spreads, customer service, and educational resources. For this review, we have conducted an in-depth analysis of VPFX by comparing it against over 1000 brokers, ensuring that our findings are both accurate and up-to-date.

What is VPFX? ▲

VPFX stands as a multi-regulated forex trading broker, delivering a broad spectrum of trading instruments along with access to global markets. This broker is celebrated for offering competitive spreads and empowering traders to engage with Forex, Stocks, Indices, and CFDs on Commodities. Established in 2020, VPFX has garnered regulation from several authorities, including ASIC in Australia, Labuan FSA in Malaysia, DED in the UAE, and SVG FSA in Saint Vincent and the Grenadines. Our research highlights VPFX's reputation for providing reputable services, an extensive range of popular assets, and a user-friendly trading execution on the widely acclaimed MetaTrader platforms.

VPFX Pros and Cons ▲

Pros

• Offers MT4 and MT5 trading platforms, recognized for their versatility and suitability for traders of all sizes.

• Supports quick deposits and withdrawals.

• Provides competitive spreads starting from 0.0 pips.

Cons

• Trading conditions may vary by entity.

• Lacks 24/7 customer support, potentially inconveniencing traders seeking immediate assistance.

• Limited educational resources and seminars available on its website, restricting client access to learning materials.

Is VPFX Safe or a Scam? ▲

VPFX has established itself as a reputable and reliable forex broker, backed by regulation from multiple authoritative bodies such as ASIC, Labuan FSA, DED, and SVG FSA. This multi-layered regulatory oversight assures traders of the broker's commitment to upholding strict financial standards and providing a secure trading environment. Therefore, based on our rigorous assessment, we can confidently affirm that VPFX is a safe choice for traders seeking a trustworthy broker.

Leverage ▲

Leverage serves as a potent tool that allows Forex traders to participate in the financial market with modest capital while attaining greater market exposure. However, it is vital to understand that leverage can amplify both profits and losses. VPFX offers leverage according to the regulations of ASIC, Labuan FSA, DED, and SVGFSA: Australian clients with ASIC-regulated accounts can access leverage of up to 1:30. Meanwhile, international traders can utilize high leverage, with the maximum leverage reaching 1:1000. It's crucial for traders to have a comprehensive understanding of leverage before engaging in trading activities that involve its use.

Accounts ▲

Account Types

Reviewing VPFX broker account types, we discovered that traders have the option to select from three distinct account types: Standard, Vip, and Elite. However, the availability of these account types may differ depending on the specific entity of the broker. Hence, it's crucial for traders to conduct thorough research to gain a comprehensive understanding of the options available to them. Additionally, for new traders looking to get acquainted with trading principles and strategies, a Demo account is available for free, enabling them to engage in practice trading and conduct trial trades.

How to Open VPFX Live Account?

Opening an account with VPFX is a straightforward process. It can be accomplished within minutes by following these steps:

• Navigate to and click on the “Open an Account” page.

• Enter the required personal information (Name, email, phone number, etc.).

• Verify your personal information by uploading the necessary documentation (proof of residence, ID, etc.).

• Complete an electronic quiz to confirm your trading experience.

After your account is activated and verified, you can proceed with depositing funds.

Instruments ▲

Trading Instruments

VPFX offers a wide selection of popular markets, encompassing over 30 pairs in the Forex market, as well as Stocks, Indices, Shares, and CFDs on Commodities. Among these, the Forex market stands out for its exceptional liquidity and the advantage of starting spreads as low as 0 pips. Nonetheless, the range of trading instruments available may differ based on the entity, thus, a thorough investigation into the available options is recommended. The VPFX Markets Range Score is rated 4.3 out of 5 for its broad selection of trading instruments overall. However, given the absence of popular asset classes such as futures, bonds, and cryptos, exploring other brokers might also be advisable.

Fees ▲

VPFX Fees

Our examination revealed that VPFX offers competitive pricing and is noted for its transparent fee structure, devoid of hidden fees. However, traders should be aware that certain charges related to deposits and withdrawals might apply, which can vary based on the selected funding method and the country of registration. Moreover, traders might face additional charges like swap or rollover fees. Compared to over 1000 other brokers, VPFX Fees are considered low or average, with an overall rating of 4.0 out of 5.

Spreads ▲

Based on our analysis, VPFX provides tight and floating spreads, with an average spread of 1.2 pips for the highly-traded EUR/USD currency pair in the Forex market. This offers an appealing choice for traders, aligning with the industry average. The broker also offers competitive spreads for other major currency pairs and popular trading instruments. However, it's important to underscore that trading conditions may vary depending on the entity, making it crucial to conduct comprehensive research to understand the specific spread conditions in place. The VPFX Spreads are considered low or average, with an overall rating of 4.3 out of 5, based on our comparison to other brokers. We found that the Forex spread aligns with industry averages and that spreads for other instruments are also competitive, which is advantageous for various trading strategies, including Trend Trading or Scalping.

Deposits and Withdrawals ▲

For those looking to fund their trading accounts, this forex broker provides a variety of options, encompassing bank wire transfers, credit/debit cards, and several online payment systems such as Skrill, Neteller, and FasaPay. It's important to note that certain requirements and restrictions may apply to each funding method, potentially varying by financial institution and the trader's country of residence.

The broker's funding methods receive a commendable score of 4.3 out of 5. They are characterized by low fees and the availability of multiple account-based currencies, making it a versatile choice for traders worldwide.

Here's a breakdown of the key aspects concerning the broker's funding methods:

Pros

• Competitive minimum deposit requirement of $100 for a Standard account, offering a favorable comparison to the industry standard of $500

• Swift and efficient withdrawal process, with requests typically processed within 24 hours

Cons

• Funding method requirements and restrictions may vary based on the trader’s location and financial institution

Trading Platform ▲

This broker grants access to two of the most acclaimed and user-friendly trading platforms available: MetaTrader 4 and MetaTrader 5. These platforms are celebrated for their intuitive interfaces, comprehensive feature sets, and support for automated trading.

Both MT4 and MT5 can be accessed on desktop and mobile devices, ensuring traders can monitor the markets and execute trades from virtually anywhere, at any time. This broker's platform offerings are highly regarded, with a score of 4.5 out of 5 when compared against a field of 1000 brokers. The provision of MT4 and MT5 platforms underscores the broker's commitment to facilitating a professional trading environment.

Trading Tools ▲

In our assessment, the broker offers a suite of trading tools that enhance the trading experience. These tools include advanced charting capabilities, a plethora of chart types and timeframes, trading signals, an economic calendar, and a wide array of technical indicators. Furthermore, the MT4 and MT5 platforms support automated trading via Expert Advisors (EAs) and algorithmic trading.

The integration of a Multi Account Manager (MAM) system and the availability of Percentage Allocation Money Management (PAMM) accounts offer added flexibility for money managers and traders managing multiple accounts, significantly improving the efficiency of order execution across numerous accounts.

Customer Support ▲

Customer support at this broker is accessible 24 hours a day, five days a week, through a variety of channels including Live chat, Email, and Phone. A team of seasoned trading experts is available to assist clients with a broad spectrum of issues, ranging from technical glitches to market analysis, general queries, and operational concerns.

Based on our evaluations, the customer support quality at this broker is rated 3.8 out of 5. The prompt and knowledgeable responses received during tests, coupled with the ease of access during working days, highlight the broker's dedication to exceptional customer service.

Education ▲

The broker somewhat lacks in its educational offerings, as there is no dedicated section for trader education on its website. This absence might be viewed as a limitation, given the importance of comprehensive resources for the development of trading skills. While the broker does provide an economic calendar and market news among its trading tools, these resources might not fully meet the needs of individuals seeking in-depth educational material.

However, the availability of a demo account option, which allows traders to practice their trading strategies without risking real funds, partially compensates for this shortfall. This feature is particularly beneficial for beginners, providing them with valuable, practical trading experience in a risk-free setting. The education services of this broker achieve a score of 3 out of 5, based on our analysis. We recommend that beginner traders seek additional educational resources from well-established and reputable brokers to supplement their learning.

Conclusion ▲

In conclusion, this forex broker establishes itself as a formidable entity in the trading industry, boasting a range of attractive features and services. Traders can leverage the well-regarded MetaTrader 4 and MetaTrader 5 platforms, equipped with advanced charting tools and automated trading capabilities. The broker also offers competitive spreads, potentially starting from 0 pips, enhancing the trading experience.

However, it's important to acknowledge the broker's lack of a dedicated educational section on its website and its absence of 24/7 customer support. Despite these drawbacks, considering the overall picture, the broker presents a reliable and competitive trading environment suitable for a diverse range of traders, from novices to seasoned professionals. As each trader's needs are unique, it's crucial to evaluate whether this broker aligns with your specific trading objectives and preferences prior to commencing trading activities.

Based on our findings and input from financial experts, this broker is well-suited for:

• Traders from Australia

• International traders

• CFD and currency trading

• Those who favor the MT4 and MT5 platforms

• Beginners

• Advanced traders

• Professional trading

• Market Making execution

• Those seeking competitive fees and low spreads

• White Label solution seekers

• EA/Auto trading enthusiasts

• Users looking for robust trading tools