General Information & Regulation
Vitocapitals presents itself as an online trading provider founded in 2015, incorporated under registered number 23808 BC 2017 by the Registrar of International Business Companies, and registered by the Financial Services Authority of St. Vincent and the Grenadines. The broker claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:500 and variable spreads from 4 pips on the MT5 for Android, iOS, desktop and Web Trader trading platforms, as well as a choice of five different live account types. Here is the home page of this brokers official site:
As for regulation, it has been verified that Vitocapitals does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.08/10. Please be aware of the risk.
Market Instruments
Vitocapitals advertises that it offers access to a wide range of trading instruments in financial markets, including forex, indices, commodities, futures, bonds, precious metals, energy, stocks and cryptocurrencies.
Account Types
Vitocapitals claims to offer five types of trading accounts, namely Standard, Silver, Bronze, Gold and VIP, as well as Islamic accounts. The minimum initial deposit amount is $200 for the Standard account, while the other FOUR account types have much higher minimum initial capital requirements of $500, $3,000, $10,000 and $50,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Standard account can experience leverage of 1:100, the Silver, Bronze and Gold account holders have the leverage of 1:200, 1:300 and 1:400 separately, while only the VIP account members can enjoy the maximum leverage of 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
Vitocapitals claims that different account types and trading assets have quite different spreads and commissions. Just take forex pairs as an example, the Standard account has the highest spreads and a commission of $11, the Silver account has high spreads and a $10 commission, the Bronze account has average spreads and a $9 commission, the Gold account has the lowest spreads and a $8 commission, and the VIP account also has the lowest spreads while the commission is $7. Also, the brokers website openly states that the specific value of the spread is from 4 pips, which is much higher than the industry average of 1.5 pips.
Trading Platform Available
Platforms available for trading at Vitocapitals are MT5 for Android, iOS, desktop and Web Trader. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
Vitocapitals appears to accept deposits and withdrawals via bank transfers and credit cards. The minimum initial deposit requirement is said to be $200. Bank transfer deposits are free, while credit card deposit fees vary depending on the base currency of your trading account. For example, EUR (€) is unrestricted and USD ($) is 5% of the money youve deposited. If your withdrawal is under a certain amount, the broker will also apply a small charge.
All withdrawal requests are said to be processed within one business day. Withdrawals from a bank account can take 3-7 days to appear on the client‘s account, while withdrawals made by credit/debit card can take up to 8 working days to appear on the client’s account.
Note that if you do not have sufficient free margin on your trading account, you are unable to withdraw your funds until you submit a corrected withdrawal form and/or close the open positions on your account.
Customer Support
Vitocapitals customer support can be reached by telephone: +447360353471, email: info@vitocapitals.com. Company address: Suite 305, Griffith Corporate Centre, Kingstown St. Vincent and the Grenadines.
Risk Warning
Online trading involves a significant level of 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.
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