ViTrade Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- EUR 1
- CFDWebClient
- Flatex Next (mobile app)
- BaFin
- ECB
- ESMA
- 2020
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- EUR 1
- CFDWebClient
- Flatex Next (mobile app)
- BaFin
- ECB
- ESMA
- 2020
Our Evaluation of ViTrade
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
ViTrade is a broker with higher-than-average risk and the TU Overall Score of 3.43 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by ViTrade clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
ViTrade is a German broker, which may be attractive to traders from Germany who prefer working through a domestic intermediary due to several legislative and regulatory peculiarities.
Brief Look at ViTrade
ViTrade is a trading brand of FlatexDEGIRO Bank AG, a banking and brokerage holding firm that has been operating under the supervision of the BaFin regulator since 2006. ViTrade offers trading in securities and derivatives, including approximately 600 CFDs, with more than 50 being CFDs on currency pairs. ViTrade accounts can only be opened by clients of FlatexDEGIRO Bank, Germans and residents of other European Union countries. According to the requirements of the EU regulator ESMA (European Securities and Markets Authority), all clients are classified as retail or professional, which triggers the differences in trading conditions and available protection tools.
- High reputation and stable financial indicators of the parent bank;
- A reliable market maker regulated in the EU (Société Générale as a broker);
- No minimum investment amount after opening an account;
- Trading CFDs on various types of assets and futures through a single account;
- Long and short positions in CFDs on more than 600 underlying assets;
- CFD transactions on currencies, indices, commodities, and interest rate futures without additional fees;
- Free provision of educational materials tailored to the specific needs of the trader.
- The broker's website lacks online chat and educational materials;
- ViTrade does not offer popular trading platforms like MetaTrader;
- High spreads and a minimum fee for trading CFDs on futures, stocks, and volatility indices amounting to EUR 5.
TU Expert Advice
Financial expert and analyst at Traders Union
The range of CFDs available with the ViTrade broker is quite diverse. In addition to contracts for the difference in the prices of currencies, stocks, stock indices, and commodities, traders can engage in futures trading on indices and interest rates. However, cryptocurrency CFD transactions are not available on the broker's platform. Retail clients receive leverage from 1:5 to 1:20, depending on the asset class. ViTrade provides the highest leverage (1:30) when opening positions with major currency pairs.
Clients can specify the order's validity period when placing it, and the broker will close it at the end of the corresponding trading day. In the absence of this mark, the order is classified as indefinite and remains valid until it is executed or revoked by the trader. If a client trades indices, commodities, metals, currencies, and interest rate futures within the day, the only fee they incur is the spread.
ViTrade conducts individual training courses for traders to help them improve their skills and understand the intricacies of financial markets. The broker offers its clients access to proprietary trading platforms, ensuring comfortable and efficient transaction execution anywhere. However, ViTrade does not provide specialized services such as portfolio management, investment consultations, or other personalized solutions.
ViTrade Summary
| 💻 Trading platform: | CFDWebClient, Flatex Next (mobile app) |
|---|---|
| 📊 Accounts: | CFD Demo, CFD Account |
| 💰 Account currency: | EUR |
| 💵 Replenishment / Withdrawal: | Bank transfer |
| 🚀 Minimum deposit: | 1 EUR |
| ⚖️ Leverage: | Up to 1:30 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 1 pip |
| 🔧 Instruments: | CFDs on currency pairs, stocks, indices, bonds, precious metals, commodities, ETFs, ETCs, futures on indices and interest rates, warrants, volatility indices |
| 💹 Margin Call / Stop Out: | 80%/50% |
| 🏛 Liquidity provider: | Société Générale, Commerzbank, Morgan Stanley, HSBC, Goldman Sachs, UBS, Vontobel, BNP Paribas, and others |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | Market |
| ⭐ Trading features: | Société Générale acts as the executing broker |
| 🎁 Contests and bonuses: | No |
The ViTrade broker provides access to trading with over 600 CFDs with trading leverage up to 1:30 from a single account. There is no minimum capital requirement to start trading derivatives, but the account must maintain the necessary margin. Trading hours are from 2:00 to 22:00 (GMT+1) on Frankfurt Stock Exchange working days. Traders can use a demo account to practice various trading strategies, test new ideas, and explore analytical tools.
ViTrade Key Parameters Evaluation
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Trading Account Opening
Access to the user account on the ViTrade website is granted after entering the client number and password. To obtain them, follow these steps:
Click on the red "Open an Account" button on the ViTrade website.
Complete the form to open a trading account. Provide your name, surname, address, country of residence, email, and phone number.
Next, print the forms that appear on the screen and enter the required information. Afterward, undergo the identification process using PostIdent and send the requested documents to the broker's specified address as indicated on the registration page. If you are a client of FlatexDEGIRO Bank, send the completed forms by mail. Alternatively, you can print the account opening application, fill it out there, and hand it to a bank employee.
After reviewing the application, a trading account and a depository account are opened. The company sends login details for the account by mail. Trading can be initiated after funding the account.
Regulation and safety
ViTrade is the trade name of FlatexDEGIRO Bank AG, regulated by the Federal Financial Supervisory Authority of Germany (BaFin). The regulatory registry identifier is 10119766. Other entities overseeing the operations of FlatexDEGIRO Bank AG include the European Central Bank (ECB) and the European Securities and Markets Authority (ESMA).
The bank participates in the deposit protection scheme of Einlagensicherung der Entschädigungseinrichtung deutscher Banken GmbH (EdB). The compensation amount per client is up to EUR 100,000. Traders’ funds and payment data are protected on multiple levels: account authorization involves entering the client number and password, and transactions use the iTAN two-factor authentication method.
Advantages
- Retail trading accounts include protection against negative balances
- The custodian of deposits is a reliable regulated bank with high capitalization
- Client deposit protection is ensured by a government-approved compensation scheme
Disadvantages
- Multi-step procedure for opening a trading account
- ViTrade and FlatexDEGIRO Bank AG accept and withdraw funds only through bank transfers
- Brokers are prohibited by EU regulators from offering bonuses to clients
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| CFD Account | From $10 | No |
The fee for an overnight order transfer is 3.5%, to which a currency percentage is added or subtracted depending on the type of position and asset. Comparing broker fees is an important aspect when choosing a suitable financial intermediary for trading. TU analysts have compared ViTrade's fees with leading brokers to help you choose the option that best suits your needs and trading strategy.
| Broker | Average commission | Level |
|---|---|---|
|
$10 | |
|
$1 | |
|
$8.5 |
Account types
To commence CFD trading through ViTrade, open an individual account with FlatexDEGIRO Bank AG either online or at its physical branch. Afterward, you can apply to open a trading account. There are no minimum requirements for the initial deposit, and the account is opened free of charge.
Account Types:
In addition to user accounts, ViTrade offers a free demo version of the trading platform with an unlimited duration and virtual starting capital of EUR 100,000.
ViTrade is a broker providing online trading services through reliable trading partners and collaborating with major liquidity providers.
Deposit and Withdrawal
Funds from ViTrade trading accounts can only be withdrawn through bank transfers. E-wallets, cryptocurrency transactions, and credit/debit card operations are not available;
When transferring funds to the FlatexDEGIRO Bank AG account in EUR, there is no transaction fee. It is also possible to withdraw USD, British pounds, and Swiss francs, but currency conversion fees may apply;
The processing time for fund withdrawals is within three business days if the request is submitted from Monday to Thursday. Withdrawals initiated on Fridays may take longer to process.
Investment Options
Active CFD trading is the sole form of over-the-counter activity for the ViTrade broker. Forex traders have no solutions available for generating passive income. ViTrade's trading platforms for derivative transactions do not support algorithmic trading and auto-trading through signals.
For clients who combine over-the-counter market activity with investing in real securities, automatic trading on the HTX platform (via API) is available, along with the use of trading signals for underlying assets listed on more than 30 stock exchanges worldwide.
Additionally, investors can take advantage of offerings from FlatexDEGIRO Bank AG, which manages ViTrade. For instance, capital can be invested in exchange-traded funds (ETFs). Currently, over 700 ETFs are available without a fee for orders starting from EUR 1,000, although it is possible to start with smaller amounts.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership program of ViTrade:
The company does not offer partnership programs. This means that it lacks a specific mechanism to reward existing clients willing to use marketing tools and referral links to invite other traders.
Customer support
The company provides phone numbers on its website for residents of Germany and other countries. Separate numbers are specified for existing and potential clients. Technical support is available from Monday to Friday: assistance to clients is provided from 8:00 to 22:00, while traders interested in the services can reach out from 9:00 to 18:00 (GMT+1). The broker's office is located in Berlin.
Advantages
- Support in both German and English.
- Phone assistance is available even from abroad
Disadvantages
- No support on Saturdays and Sundays
- No online chat on the company's website
- Support is not provided through messengers
Ways to contact ViTrade:
Phone;
Email (depending on the account status).
There is also a contact form in the contact section for assistance via phone or email.
Contacts
| Foundation date | 2020 |
|---|---|
| Registration address | FlatexDEGIRO Bank AG, Joachimsthaler Straße 12, 10719 Berlin, Deutschland |
| Regulation | BaFin, ECB, ESMA |
| Official site | https://www.vitrade.de/english/ |
| Contacts |
Education
The company offers a free 14-day training course on CFD trading. The sessions are conducted interactively online and help traders master the basics of trading derivatives, as well as thoroughly understand the trading platform. The course topic is chosen by the individual ordering it, and this can be any ViTrade client. All details and the registration form can be found in the broker's Akademie section.
ViTrade offers a virtual trading (demo) account to traders for practice and familiarization with the broker’s platform without the risk of losing real money.
Comparison of ViTrade with other Brokers
| ViTrade | RoboForex | Pocket Option | Exness | FBS | Forex4you | |
| Trading platform |
CFDWebClient, Flatex Next (mobile app) | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading | MT4, MobileTrading, MT5 |
| Min deposit | $1 | $10 | $5 | $10 | $1 | No |
| Leverage |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:10 to 1:2000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 1 point | From 0 points | From 1.2 point | From 1 point | From 0.2 points | From 0.1 points |
| Level of margin call / stop out |
80% / 50% | 60% / 40% | 30% / 50% | No / 60% | 40% / 20% | 100% / 20% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | $5 | No |
| Cent accounts | No | Yes | No | No | Yes | Yes |
Detailed review of ViTrade
Broker ViTrade offers a wide range of trading instruments, educational services, as well as technical and client support. Its clients have access to trading on various global financial exchanges, derivative markets, and Forex. The company provides proprietary trading platforms, convenient mobile applications for managing accounts and orders, as well as a web platform for browser-based trading.
ViTrade by the numbers:
Over 1,200 CFD instruments;
The parent company has been operating for over 15 years and serves 2.6 million clients in 16 countries;
Regulated by three financial supervisory authorities;
Deposit insurance of up to EUR 100,000 per client.
ViTrade is a German broker with functional online trading platforms
Société Générale acts as the market maker for ViTrade and the operator of the trading platform for order placement. ViTrade is a broker and bank that is among the top four in the French financial market. Traders can use any device with internet access to execute transactions, although ViTrade does not have desktop platforms. The company offers CFDWebClient for browser-based trading; and for mobile applications, it offers Flatex Next for Android and iOS.
The platforms include essential graphic tools for quality market analysis, such as a newsfeed, Limit, Stop, Stop Loss, Trailing Stop Loss, Take Profit, One-Cancels-Other-Order (OCO), and If-Done-Order. If trading CFDs through the mobile app or web platform is not possible, clients can place orders by phone during the broker's working hours which are from 8:00 to 22:00 (GMT+1).
Useful functions of ViTrade:
Email newsletters with financial news and reports;
Daily market analysis;
Free interactive training for clients;
Demo mode for a user account to acquaint a trader risk-free with the broker's trading platforms and conditions.
Advantages:
ViTrade employs modern technologies to enhance the trading experience, such as high-speed order execution and advanced data encryption methods;
The broker offers a demo account, allowing traders to test strategies, familiarize themselves with the platform's functionality, and gain experience in trading financial markets;
ViTrade platforms provide a wide range of financial instruments for trading in over-the-counter market conditions;
The opportunity for personalized training with individual advice and recommendations from professional traders;
ViTrade clients have access to various assets, including CFDs on currency pairs, stocks, indices, commodities, and other financial instruments, enabling the diversification of investment portfolios.
User Satisfaction