Home » Vista Forex Review – Is Vistaforex a scam?

Vista Forex Review – Is Vistaforex a scam?

Vistaforex.com Scam Review

You can know all the signals that warn you not to interact with Vista Forex, right from the first peek at its software. To find out why, please read our analysis.

Vistaforex.com Scam Review

Income Mentor Box

Control of Vista Forex and Funds Protection

Evaluating the license of this company was the first decision we made. We found on the website that the address is in St. Vincent and the Grenadines (SVG) and its offices are in London, UK. You should note that forex brokers are not controlled by the Financial Services Authority of St. Vincent and the Grenadines, so this business is non-legit in this jurisdiction.

After that, to see if this broker is authorised there, we investigated the Financial Conduct Authority (FCA), the agency that oversees forex brokers in the UK. Unfortunately, as you can see from the screenshot below the company in question does not seem to be on the register.

While the business informs its prospective customers that steps are in effect to ensure the protection of funds for customers, such as storing them in separate bank accounts, the simple truth that this dealer is not approved is still a huge hazard to your resources and our recommendation is to stop trading with them.

You will find lots of approved brokers to deal with and you would be able to find the one that better fits your trading needs if you explore the data in the links we have below. Forex brokers should be required to maintain the protection of their clients’ assets in order to be accredited, and there are several steps in effect to ensure that only legitimate brokers are licenced.

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For instance, being well-capitalized by transferring $20 million in the US and 1 million AUD in Australia serves several purposes in the US and Australia. First to prevent the fraudsters out of penetrating the legit brokers’ ranks, and secondly, to shield consumers from undesirable incidents.

The provisions for entering a forex broker are much easier in the EU and UK jurisdictions. Registered brokers must still withhold money from local settlement accounts or programmes from which dealers will be paid in the event of a failure, in addition to needing to spend EUR 730,000 as initial cash.

If the broker is supervised by CySec and added to the local Investor Compensation Fund, if the broker goes belly up, his customers can be refunded up to EUR 20,000 per user. The incentives in the UK are much better-if the broker is supervised by the FCA and applies to the local Financial Services Compensation Scheme, in the event of failure, the customers can be compensated up to GBP 85,000 per individual.

Such criteria that dealers from all the afore-mentioned territories must follow to ensure the protection of funds for consumers include disclosing their activities on a regular basis in order to have accountability, to preserve low leverage and not to provide incentives or free gifts.

So, please do your research, review all the brokers you are concerned about carefully to ensure that they are accredited and have an assurance for your funds’ protection.

Vista Forex Trading Tools

Vista Forex deals in forex, indexes, bonds, metals, cryptocurrencies, electricity and services as a forex broker. MetaTrader 5 is the exchange tool its customers may use. This along with the very famous MetaTrader, is one of the strongest websites in forex trading. MT5 has an impressive set of charting options, technical research metrics, auto trading options, financial calendar, VPS, customs script code base, subscription fee trading signals, among others. In 2016, introducing the hedging alternative rendered this forum among forex brokers much more common.

A trading site is, though as successful as the dealer.

We also looked at the MT5 parameters that this broker has set. We estimated the gap to be 1.5 pips from the bid/ask price for the EUR/USD currency pair, which is the market average which would be advantageous to traders since the cost of transactions will not be large and they will be able to make a consistent good amount of profit.

However after looking at the details regarding the account forms, we were alarmed to see that this broker’s leverage is sky-high-1:1000! If you note from the first part of this analysis, there is a limit on leverage for approved brokers and it cannot surpass 1:30 in the EU. This is more evidence that it is not reliable to trade with this dealer.

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It implies two things when the leverage is high-a major gain or a big loss. It is accurate that high leverage gives the dealer more buying strength and amplifies the benefit potential. Please note, however, that about 70% of traders suffer financial losses in forex trading. What are the odds that you are not going to be one of them and what could be your financial disadvantage of equity that raises your vulnerability to risk?

Funding and Payments Vista Forex

Vista Forex provides Raw, Regular and VIP trading accounts. For the Regular account, the minimum initial investment is $100. The initial balance for the Raw account is $500 and VIP account starts at $20,000.

In the details about the ways of funding methods, we found a certain inconsistency. You can note that the payment options displayed there are Skrill, Tether, credit card, WebMoney and Yandex if you look at the horizontal bar on the company’s interface. However, you will see other payment options when you open a live account and press on the deposit tab, such as Bitcoin, Etherum, Litecoin, PayPal, and Credit Card. We would conclude that such a difference in the details given would not generate faith in this dealer.

Bank transfer, PayPal, Ethereum, Tether and Litecoin are among the withdrawal types. There is no withdrawal charge and with other transfers by cryptocurrency, it is immediate. It requires 1 business day for processing the bank transfer and Paypal.

This one gives its consumers bonuses in a manner common for unauthorised brokers. You must note that while incentives appear in the account of the investor, they are essentially funds attributable to the brokerage and hold some requirements that must be done with them. 2 forms of incentives are given by this broker.

The first is named the ‘$123 Welcome Bonus,’ because when the investor opens a brokerage account, it is auto-credited. The object of this bonus is, according to this business, for trading only and may not be exchanged, credited or removed. The trader must exchange 23 lots in 23 trading days in order to be eligible to withdraw the incentive sum and cannot surpass 0.2 lots in order value, and should not have more than 5 open positions at the same time. This is not helpful to the trader and causes further incentive for selling orders to be completed.

The ’20 percent incentive’ is the other bonus provided by this broker which is immediately applicable to traders who invest their trading accounts. Again the incentive is just for selling purposes and so the bonus balance would be forfeited if the dealer takes any deductions from his/her brokerage account.

If you will see from the requirements provided for these incentives, traders who embrace them may have difficulty satisfying certain conditions and their deposits and redemption choices will also be gobbled up.

Registered brokers do not provide incentives, as we have already discussed, and are part of the steps to secure the funds of traders, but our recommendation is not to consider bonuses and in general, to walk away from brokers providing them.

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