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Veracity Markets (VeracityMarkets) Review 2023
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Veracity Markets (VeracityMarkets) Review 2023
Veracity Markets is an STP and ECN broker, which has been providing online access to trading Forex and CFD instruments since 2020. The broker’s focus is the traders from African countries, although the company accepts clients from all around the world. The broker offers 250+ instruments for trading, a wide selection of accounts, 24h support and the most popular trading platforms MT4 and MT5. The operation of Veracity Markets is regulated by the Financial Sector Conduct Authority (FSCA).To get more news about veracity markets review, you can visit wikifx.com official website.
Veracity Markets appeared in the market quite recently. I learned about it three months ago and opened an account right away. I didn’t like the work of customer support right away; the operators responded vaguely, without providing specific information. Some questions were answered by parts of text simply copied from the website. So what is the purpose of customer support then? Well, that’s not the most important thing in a broker, so let me go over the conditions. Order execution speed is excellent, the platform operates quickly, while the spreads on the Standard Account are high. I haven’t reached the level of an ECN account, so I invest in MAM and trade indices from time to time via Veracity Markets. For Forex trading I use a different broker.
Veracity Markets hasn’t impressed me that much, because dozens of other brokers offer similar trading conditions. The spreads are floating and with a tranquil market they are average. You can trade with leverage up to 1:500 and that’s enough for me. It takes the broker a very long time to withdraw money via a wire transfer. On some occasions I had to wait for 3 or even 5 days. Transfers to electronic wallets are instant, but a fee is charged. The broker does not offer bonuses, while the partnership programs are only available to companies. I still trade on Veracity Markets sometimes, but not very often.
I’ve been trading with Veracity Markets for almost a year and so far I haven’t been disappointed. I started working with an ECN account on MT4 right away. I trade stock and index CFDs, and the broker does not charge any additional commissions, only spread. Withdrawals via a wire transfer take a bit long, but the most important thing is that the money is transferred, so it is worth waiting for a couple of days. Also, you have to search other websites for analytics and news. I didn’t like it at first, but now I’ve just gotten used to it. I like it that you can use Expert Advisors. I don’t care much about the bonuses. We all know that in the majority of cases you have to work them off, therefore I’m even happy that there aren’t any unnecessary temptations.
Veracity Markets is a private South African company with offices in Cape Town and Sandton, which was established in 2020. It is an execution-only intermediary and uses regulated liquidity providers for clearing the trades of its clients. The broker works not only with the traders from South Africa. At the moment, it services more than 300,000 trading accounts of clients from all around the world.
Veracity Markets offers dynamic leverage: its value automatically adjusts to the used margin and trading volume of a chosen financial instrument. Therefore, as the trading volume increases the percentage of the margin also increases in accordance with the dynamic value of leverage for an asset. Clients have access to a wide range of trading accounts with floating spreads from cent accounts to ECN. The minimum deposit on all account types is $250.The spread on the accounts that are not for professional trading start from 1.6-2 pips. The number of available Forex pairs is 38, which is fewer than other brokers offer. Also, Veracity Markets does not provide access to trading via WebTrader. The available platforms MT4 and MT5 must be installed on a PC, tablet or smartphone.
Veracity Markets does not offer its own investment options, but its clients can use all available passive income features offered by MT4 and MT5. The company allows traders to use Expert Advisors, copy signals from MQL5.com or provide signals. Also, for additional profit, clients can connect to MAM service and participate in partnership programs that offer different types of rewards.Multi-Account Manager — a passive income service
Multi-Account Manager or MAM allows managers to execute trades on an unlimited number of connected sub-accounts. At that, the funds of the manager and investors are separated and the manager does not have access to the deposits of the subscribers. The main features of MAM service include:An investor can monitor trades and profit in real time mode.
There is no account servicing fee for MAM accounts. Investors connect to the system for free.
Several types of distribution are available: Balance, Lot, Percentage or Equity.
An unlimited number of investors can connect to the manager’s account.
After a trader chooses the manager and connects to his/her account, all trades executed on it are mirrored on the sub-accounts of subscribers. If the manager executes a successful trade, both parties win: an investor earns profit without trading on their own and the manager earns a part of profit of the subscribers, thus increasing his/her total profit.