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Veracity Markets Review 2022 – Pros & Cons Revealed
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Veracity Markets is an up-and-coming stock trading and forex broking app. It has been making waves for a while now, and while it is still relatively new in the market, reviews from South African investors have been quite impressive.To get more news about veracity market, you can visit wikifx.com official website.
Despite being relatively new, Veracity Markets has several features that allow it to give some of the best forex brokers a run for their money. We will be examining all of these features in our Veracity Markets review 2022. This guide explores the platform, services rendered, and what makes it unique and appropriate to traders in South Africa.
Veracity Markets History and Background
Veracity Markets is an online forex trading platform that was founded in 2020. Based out of South Africa, the platform aims to improve confidence in trading for all clients, regardless of their experience levels. With a trader-oriented platform, Veracity Markets was built to help users easily navigate the market.
There is no doubt that Veracity Markets has a lot going for it at the moment. Its track record is still a bit short, so investors might feel a tad worried about its functionality or security features. However, the company boasts that everything available on the platform is top-notch. Veracity Markets hopes to become the one-stop shop for trading across different financial instruments with several types of trading accounts and a multitude of trading pairs. Veracity Markets operates on the MT4 trading platform and is available on mobile, web, and desktop. The operators are regulated and incorporated in South Africa, The company is registered at 2018/515174/07, and it is an appointed juristic representative of Nirvesh Financial Services (Pty) Ltd (Reg No.: 2014/214417/07).A significant benefit of Veracity Markets is that you get different financial instruments spread across several asset classes. These classes include:
Veracity Markets provides users with the opportunity to trade in various precious metals and materials. These include gold, silver, palladium, crude oil, and petroleum.
On Veracity Markets, you get to trade silver and gold online with no re-quotes. The markets are very liquid, which allows for instant buy and sell orders. You can also use the same account to go long or short on an asset.
Indices are a representation of a wide range of stocks in a particular sector of the overall market. By capturing changes in a group of stocks, index trading provides an excellent diversification opportunity for traders. On Veracity Markets, you get access to several top stock indices. These include the NASDAQ 100, France 40, and UDA 500. The platform also grants you up to 1:500 leverage, which allows you to maximize your profits using leverage trading.
Derivatives
The derivatives trading service on Veracity Markets is where ForEx traders come to trade their currencies at any point in the day. On Veracity Markets, traders enjoy several benefits, including access to over 55 trading pairs (including major assets, crosses, and exotic pairs). Trades occur 24 hours a day, and you get no re-quotes on trades as well. As it is in indices, you also enjoy up to 1:500 leverage on trades. There are no hidden fees or extra charges on your account, and you gain access to a 24-hour market that is always open.Trading on Veracity Markets is affordable. There are no hidden fees or charges. There are also no non-trading fees, so you have a lot of opportunities to maximize your profit.
While trading, you will find that spreads on all accounts are floating. This means that market volatility will affect you. Spreads on the ECK Account will usually start from 0 pips. The spreads on the Standard Account start from 1.6 pips, and those on the Fixed Account start from 1.2 pips. There are no commissions charged on the Fixed and Standard accounts. However, you get charged $7 per lot when trading metals and ForEx on the ECN Account.You don’t have to pay any fees on withdrawals and deposits with Veracity Market. There are no extra or hidden fees on transactions as well. However, you will have to pay an inactivity fee if you fail to use your account for over a year.
Veracity Markets Trading Software
Veracity Markets supports only one type of trading platform – MetaTrader 4 (MT4). While this is less than several of its competitors, MT4 is the most popular trading platform globally. So, users aren’t missing out on much here. MT4 is available for any software or mobile device, and it works well for expert and novice traders alike.
Veracity Markets User Experience
Veracity Markets has a relatively simple trading service. Expert traders will have no trouble with getting on and being able to trade as soon as possible. However, it is recommended that beginners use the demo account to get a lay of the land before they begin trading.