Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

Founded in 2020, Veracity Markets is a broker operating in South Africa, offering trading services in derivatives, indices, metals, commodities, and shares. However, the broker raises suspicions as it lacks valid regulatory licenses, and the licenses it claims to hold are suspected to be clones. The WikiFX Score for Veracity Markets is low, primarily due to numerous customer complaints regarding withdrawal difficulties, severe slippage, technical issues, and premature trade closures. Customers express frustration with delays in fund withdrawals and cite blown accounts as a result of slippage and technical problems. The broker provides three account types with different features and specifications, including variable spreads and leverage of up to 1:500. Veracity Markets supports the popular MT4 trading platform and offers multiple contact options for customer support. However, the reviews on WikiFX highlight concerns and issues raised by customers, indicating a lack of trust and satisfaction with the broker's services.

Here is the home page of this brokers official site:

Is Veracity Markets Legit？

Veracity Markets is not regulated by any valid regulatory authority based on the information provided. The South Africa Financial Sector Conduct Authority (FSCA) license number (4701) claimed by Veracity Markets is suspected to be a clone, and the New Zealand Financial Service Providers Register (FSPR) license number (40983) is also suspected to be a clone. It is important to be cautious and aware of the potential risks associated with dealing with an unregulated broker.

Pros and Cons

When considering a brokerage like Veracity Markets, it is essential to evaluate its strengths and weaknesses. This overview presents the pros and cons of Veracity Markets based on available information and customer feedback. Understanding these aspects can help individuals make informed decisions about whether to engage with the platform. It is important to note that while Veracity Markets offers various market instruments, different account types, and the popular MT4 trading platform, there are concerns regarding its regulatory status, customer complaints related to withdrawals and technical issues, and mixed reviews from users. By examining these pros and cons, individuals can gain a better understanding of Veracity Markets' offerings and potential risks involved.

Market Instruments

Veracity Markets offers various market instruments for trading. Here are the types of market instruments available:

1. Derivative Trading: Veracity Markets provides the opportunity to engage in derivative trading. This involves trading contracts that derive their value from an underlying asset. Traders can trade over 38 major, minor, and exotic pairs.

2. Indices: Veracity Markets provides access to nine global indices. These indices represent a selection of stocks from various industries and regions, allowing traders to speculate on the overall performance of specific markets or sectors.

3. Metals: Traders can trade precious metals like gold, silver, platinum, and copper. These metals are known for their value and can serve as a hedge against inflation or economic uncertainty.

4. Commodities: Veracity Markets offers trading opportunities in commodities such as oil, gas, and agricultural products. Trading commodities allows investors to speculate on the price movements of these essential resources.

5. Shares: Veracity Markets provides access to a diverse range of over 150 shares. Traders can choose to invest in shares of different companies, allowing them to participate in the performance of specific industries or corporations.

Account Types

Apart from demo accounts, Veracity Markets also offers investors three different types of accounts, including Standard, Pro, and ECN accounts. The minimum deposit amount for all accounts is $250 or the currency equivalent amount.\

The Standard Account requires an initial deposit of $250 and offers floating spreads starting from 1.6 pips. There are no commissions charged, and the leverage provided is 1:500. Traders can trade with order volumes ranging from 0.01 to 250 lots. The account is compatible with Trading platforms and supports Expert Advisors. There is no maximum limit on the number of open positions, and the execution is done in the market. Additionally, a swap-free option is available for those who require it.

The Pro Account also requires an initial deposit of $250 and offers floating spreads starting from 2 pips. Like the Standard Account, there are no commissions charged, and the leverage provided is 1:500. Traders can trade with order volumes ranging from 0.01 to 250 lots. The Pro Account is compatible with Trading platforms and supports Expert Advisors. Similar to the Standard Account, there is no maximum limit on the number of open positions, and execution is done in the market. The account also provides a swap-free option for interested traders.

The ECN Account requires the same initial deposit of $250 and offers the advantage of floating spreads starting from 0.00 pips. However, a commission of $7 per lot is charged for FX and Metals trades. The leverage offered is 1:500, and traders can trade with order volumes ranging from 0.01 to 250 lots. The account is compatible with Trading platforms and supports Expert Advisors. There is no maximum limit on the number of open positions, and execution is done in the market. However, the swap-free option is not available for the ECN Account.

Leverage

In terms of trading leverage, the maximum trading leverage offered by Veracity Markets is up to 1:500, which is considered high. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Spreads & Commissions

Veracity Markets offers different spreads and commissions based on the type of account. The Standard account features a floating spread starting from 1.6 pips, while the Pro account has a floating spread starting from 2 pips. The ECN account, on the other hand, offers a spread of 0.0 pips.

In terms of commissions, there are no commissions charged on the Standard and Pro accounts. However, for those with an ECN account, there is a commission of $7 per lot specifically for Forex and Metals trading.

Trading Platform

Veracity Markets provides traders with the renowned MT4 trading platform. MT4 stands as the established benchmark for Forex trading, offering a trading interface that is straightforward to navigate, robust charting tools, and an extensive range of custom indicators to facilitate automated and EA trading. Alongside this, Veracity Markets grants traders the option to select from a variety of MT4 web, desktop, and mobile trading platforms.

Pros and Cons

Deposit & Withdrawal

Deposit: Veracity Markets offers multiple options for traders to deposit funds into their accounts. These methods include bank transfers, credit/debit cards, and popular e-payment methods such as Neteller, Skrill, and Fasapay.

Withdrawal: The platform allows withdrawals to be made to local banks without any additional charges. However, for withdrawals using other methods like Skrill and Neteller, Veracity Markets applies a 2% fee on the total withdrawal amount. It's important for traders to take this fee into consideration when planning their withdrawals.

Customer Support

Clients can reach out to Veracity Markets through their website's “Contact Us” section, where they are required to provide their name, email address, phone number, and a message detailing their inquiry. By collecting these details, Veracity Markets ensures that they can respond promptly to customer requests.

For customers in South Africa, Veracity Markets provides multiple contact options. Clients can utilize the phone number +27 (0) 87 012 5545 or reach out to specific departments via email, such as help@veracitymarkets.com for general assistance, finance@veracitymarkets.com for financial inquiries, compliance@veracitymarkets.com for compliance-related matters, partners@veracitymarkets.com for partnership inquiries, and media@veracitymarkets.com for media-related queries.

Veracity Markets also offers two physical addresses in South Africa, located at 155 West Street, Sandown, Sandton, 2031, and 80 Strand Street, Cape Town, 8000. These addresses serve as additional points of contact, enabling clients to visit their offices if required.

Reviews

The reviews on WikiFX regarding Veracity Markets highlight several concerns and issues raised by customers. Some customers express frustration regarding difficulties with withdrawals, stating that they were unable to withdraw their funds or faced delays in the withdrawal process. Others mention severe slippage and technical issues, resulting in account losses or blown accounts. There are also complaints about trades being closed prematurely and deposit-related problems. Overall, these reviews indicate a lack of trust and satisfaction with Veracity Markets' services, particularly regarding withdrawal processes, slippage, and technical issues.

Conclusion

In conclusion, Veracity Markets presents both advantages and disadvantages. On the positive side, they offer a range of market instruments for trading, including derivatives, indices, metals, commodities, and shares. They provide three different account types with various features and specifications, catering to different trading preferences. The maximum trading leverage of 1:500 offered by Veracity Markets is relatively high. They also support the popular MT4 trading platform, known for its user-friendly interface and robust charting tools. In terms of customer support, Veracity Markets offers multiple contact options and physical addresses for clients to reach out or visit if needed.

However, it is important to note that Veracity Markets is not regulated by any valid regulatory authority based on the information provided. The license numbers claimed by Veracity Markets from the South Africa Financial Sector Conduct Authority (FSCA) and the New Zealand Financial Service Providers Register (FSPR) are suspected to be clones, raising concerns about the legitimacy of the broker. Additionally, the reviews on WikiFX highlight customer complaints regarding difficulties with withdrawals, severe slippage, technical issues, premature trade closures, and deposit-related problems. These reviews suggest a lack of trust and satisfaction with Veracity Markets' services.

Frequently Asked Questions (FAQs)

VT Markets Information

What is VT Markets? VT Markets is an award-winning online trading broker founded in 2015, positioning itself as a global multi-asset platform focused on “making trading simpler and more accessible” for traders of all experience levels. To date, it has gained over 3 million registered users, 600,000+ active clients, processes over 60 million trades monthly with a monthly trading volume exceeding $720 billion, and built a strong industry reputation through mature technical infrastructure and customer-centric services.

It also has deep partnerships with sports entities like Premier League‘s Newcastle United Football Club and Maserati MSG Racing, provides client fund protection underwritten by Lloyds Insurance, holds membership in the Financial Commission, and offers multilingual support via email (support@vtmarkets.com), phone (+27 101412968), and live chat to meet global traders’ needs.

Pros and Cons

Is VT Markets Legit?

VT Markets guarantees compliance and security via key measures: client funds are segregated, insured up to $1M by Lloyds, and it’s a Financial Commission member for dispute mediation. With 9+ years in operation, no major compliance issues, and transparent website disclosures (no hidden fees), it meets safety standards.

VT Markets is a legitimate and compliant broker, supported by the following key factors:

What Can I Trade on VT Markets?

The platform covers 8 asset classes and 1,000+ tradable instruments. Key products include:

Account Type

What account types does VT Markets offer? VT Markets offers 6 account types tailored to different traders needs. Key parameters are compared below:

VT Markets Fees

How about VT markets fees? The platform has a transparent fee structure, mainly divided into “trading fees” and “deposit/withdrawal fees,” with no hidden costs:

What are VT Markets Trading Fees Details?

Can I Know VT Markets' Deposit and Withdrawal Fees

Leverage

What VT Markets leverage can I use? VT Markets offers flexible leverage options, with maximum leverage varying by account and instrument. Key rules include:

Trading Platform

Does VT Markets provide MT4 and MT5? VT Markets integrates 5 mainstream platforms, covering “mobile, PC, and web” to meet diverse scenarios:

Deposit and Withdrawal

How about VT Markets Deposit and Withdrawal? For VT Markets‘ deposit process, supported methods include credit cards (Visa/MasterCard), bank transfers, e-wallets (Neteller, Skrill), UnionPay, and Tasapay—with credit card deposits reflecting in minutes, e-wallets (like Neteller) taking under 10 minutes, and bank transfers 1–3 business days; minimum deposits are $100 for Standard STP/ECN Accounts and $50 for Cent Accounts, with no maximum limit. For withdrawals, methods correspond to deposits (following the “same-card/same-account” rule), processing times range from 2 minutes to 1 hour for crypto, same-day for Euro Instant Bank Transfers, and 1–3 business days for regular bank transfers, while there’s no minimum withdrawal amount (some methods may have a $10 floor) or daily frequency limit.

Copy Trading

VT Markets has launched the “VTrade Copy Trading System,” tailored for beginners who want to trade without in-depth market knowledge by following professional traders. Its core features include: access to a “signal pool” where traders can check top performers‘ historical data (profit rate, maximum drawdown, trading frequency), one-click following to automatically replicate real-time order actions, full disclosure of signal providers’ trading records (profits, losses, held instruments) for transparency, and customizable risk controls (maximum follow lot size, stop-loss ratio) for followers to avoid heavy losses.

Bonus

Does VT Markets have a no-deposit bonus? offers two core promotions for new and existing users. Specific rules are subject to real-time platform disclosure (T&Cs apply—certain trading volume requirements must be met to withdraw bonuses):

New User First Deposit Bonus: New traders can enjoy a “maximum 50% bonus” on their first deposit (e.g., a $1,000 deposit earns a $500 bonus, boosting initial trading capital).

Regular Deposit Bonus: All users (including existing ones) receive a “20% bonus” on subsequent deposits, with a maximum bonus of $10,000 per deposit. Bonuses are credited within 1 business day of deposit.