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Suspicious Regulatory License
Suspicious Scope of Business
High potential risk
|Risk Management Index||0.00|
Platform registered country and region
Pyramid scheme complaint
The customer service asked for 20% late fee after 7 days. It refused to deduct it from the principal. The withdrawal took 7 working days. It was totally a scam.
they requested for 20% tax payment first before funds withdrawal. don’t be deceived by them. it is an investment scheme scam. when you said you can’t pay for the tax, they will tell you that you will be charged for tax evasion! bullshit. stay away! https://www.vestlepra.com/#/
I wrote to the real Vestle and they said this company had nothing to do with them. I deposited a lot and they stole all my money. The customer service even blocked my whatsapp and line account. The online customer service on the app said that I could call after 3 days. How could I contact them when I was blocked? It was ridiculous.
General Information& Regulation
Vestle is a forex/CFD broker that was set up as iFOREX in Cyprus in 2011. Vestle operates out of Limassol, Cyprus where it has an office. Vestle (formerly known as iFOREX) is the trading name of iCFD Limited, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license 143/11.Vestle was set up to administer its services to clients in the European Economic Area (EEA). But they also accept clients from China, Malaysia, Mexico, United Arab Emirates and Indonesia as well as dependent territories of EEA members. However, the broker cannot provide services to some countries such as the USA.
Traders have a wide choice when it comes to trading instruments on Vestle. There are more than 800 instruments available. These consist of 85 forex currency pairs, 15 cryptocurrencies, 20 commodities, 52 Exchange Traded Funds (ETFs), 34 indices and over 600 stocks.
Standard account is the main live account available to all client. All the trading instruments available can be traded on this account. There is no minimum threshold to operate this account but an assessment of the traders trading abilities will determine the minimum deposit they can. Besides, the swap-free and Demo account are also offered.
You can click on the 'Register' tab on the Vestle website to commence the account opening procedure. A short form will appear where you can fill your name, email and phone number then click 'continue'.
A maximum leverage of 30:1 is available in Forex trading, in line with current regulations. Lower maximums apply to most of the non-Forex instruments which are offered.
Spreads & Commissions
The basic EURUSD spread with Vestle floats around 1.9 pips – 2 pips, which in our view is a bit higher than what traders usually expect to see with a standard account.
Vestle has its proprietary trading platform known as FXnet. It is a web-based platform so there‘s no need to download any software as it runs directly in the web browser. The platform can be customized to suit each trader’s preference and has a built-in economic calendar for fundamental analysis. It supports 7 languages and is compatible with web browsers on Mac, Windows and Linux devices.
Deposit & Withdrawal
Funding can be done using a few different methods, including Visa MasterCard, Maestro and wire transfers. Withdrawals are generally made through the same channel that deposits have been made through.
Vestle customer support is multilingual with 8 major European languages supported. Customer inquiries, comments or requests to Vestle can be made between 4am – 8pm GMT on weekdays. Customer support representatives can be reached through phone, fax and email. In addition, there are numbers for specific European countries which clients resident in those countries can make use of. There is no online live chat support on the brokers website.
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