RECOMMENDED FOREX BROKERS
Vaha Trade posses a clear and simple interface, suggesting more fluidity when one interacts with it. Read on to find out more about this broker.
The brokers is licensed by the Bulgarian Financial Supervision Commission. This agency’s mission is to maintain the stability of the market industry through legal and administrative means. There is a compensation scheme that covers 90% of the clients funds in the event the brokers becomes insolvent. The reimbursed sum cannot surpass €20 450.
Note that this particular broker has an enormous amount of legal documents that cover all sorts of specifications. There are certainly many articles that will confuse those that will take the time to read through them. However, seeing as Vaha Trade is regulated, we are prone to believe that they are all in check.
Since the broker is licensed and registered in Europe, the leverage should not surpass 1:30 as decreed by ESMA.
The spread for the EUR/USD pair is 2.2 pips on average. This value was taken from the Demo account. It’s unusually high, and in complete honesty does not bring about many positive sides.
The trading assets are few and leave us wanting more: Forex Pairs, Metals and Indices.
The website is translated exclusively in English or Bulgarian.
VAHA TRADE LOGIN
Vaha Trade has allowed for the MT4 platform, which is always a welcome sight to behold.
METATRADER 4
Holding the title for the most popular trading platform in the industry does not come easily. MT4 incorporates all features that both new and professional clients alike need to have in their trade game. Clients can set auto trades, and they come loaded with lots of customizable options for optimal trading.There is even an a MultiTerminal, if one is to believe the broker’s assertions. By using the MT4 MultiTerminal traders can access multiple MT4 accounts at the same time.
The spread, as already established, is 2.2 pips on average for the EUR/USD pair, as read in the Demo variant. As for the leverage, ESMA has issued a legal order against any leverage higher than 1:30.
As to the inclusion of any kind of commission, the following ambiguous explanation is all that is given:
The vast Legal Documents didn’t have info on commission either, and there is no FAQ section as of writing this review.
MT4 is available as a desktop trader, and is accessible on Android and Apple devices.
VAHA TRADE MINIMUM DEPOSIT
There is no minimum deposit. This opens the door to a plethora of novice retails traders.
The methods for funding are: Wire Transfer, Credit/Debit Card, Neteller, Skrill.
As readers can see, the accepted base currencies are EUR, GBP, USD and PLN. This is odd since the withdrawals currencies are more than triple in numbers.
Bank Transfer transactions can take up to 5 day to reach a trading account. This surpasses the usual 1-3 days time-frame that most legitimate brokers take to process a Wire Transfer payment. All other methods of funding are instantaneous.
There are no fees for making a deposit.
VAHA TRADE WITHDRAWAL TIME AND FEES
Withdraw methods are Bank Transfer, ePay, and Skrill. There is no mention of other withdrawal methods:
As mentioned above the currencies are thrice the size of the depositing ones: This is indeed bizarre but nevertheless a fact, and seeing as the broker is registered we are have to accept and work with what we’ve got.
The minimum withdrawal amount is $1.
Bank Transfer request take up to 3 days to be processed, while Skrill and ePay requests are processed instantly. There is no mention of Neteller and Credit/Debit Card methods.
The company charges 1% off of all ePay and Skrill withdrawals. The first two Bank Transfers of the month are free.
BOTTOM LINE
Vaha Trade is a fully regulated broker, and even if the license issuer does not suggest the same austerity as the FCS or CySEC, we must conform to the fact of the matter. Needless to say, there are a few peculiarities here and there that raise an eyebrow or two, but it’s nothing to worry about. We say, go for it.
