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VIEXS, or Vision Integrated Exchange, is a brand new broker that holds a lot of promises. It is still in its early stages but has passed the most crucial stage: it is licensed by the FCA.
From here on out we will be referring to the broker as VIEXS.
The holding company by the name of Vision Integrated Exchange LTD is regulated by the UK’s FCA.
The FCA is arguably the most famous and serious of all European regulators. The FCA has created a very solid reputation around itself as the most trustworthy of all European regulators, and with good reason. It follows all its brokers’ activities with a scrupulous set of eyes and demands from them regular reports. For instance, all FCA licensed brokerages must hold net tangible assets amounting to a minimum of €730 000. And this is just one of the hundreds of other serious requirements. However, an advantage the FCA has over other regulators is its £85 000 Financial Services Compensation Scheme (FSCS), which sees users of its overseen firms reimbursed in case a broker cannot pay its dues.
The EU leverage cap is maxed out at 1:30, as decreed by market regulator ESMA. Only professional clients can apply for a higher leverage cap.
The broker is still in its early age, and as such offers very little in terms of services. Yet, that should not bother users, because it is regulated by the FCA. This means that all the info we are about to take from the website is precise. This is the FCA guarantee.
Please be aware that there are no legal documents at this moment, due to the young nature of the broker.
With that said, let us move on. The leverage we already spoke of, while the EUR/USD spread is not yet available as the spread table was not yet made available. Moreover, the leverage goes as high as 1:50, which must be the maximum amount a professional client can take advantage of.
As far as we know, VIEXS will offer a range of CFDs as well as forex currency pairs. We are not aware of any crypto derivatives, yet.
The website seems to be available only in English. Well, for now, that is.
The sole thing we can speak of, as far as a trading software is concerned, is a terminal named FlexTrader.
This trading platform seems to be proprietary and promises a ton of features. There is nothing more specific on the platform as of yet.
VIEXS MINIMUM DEPOSIT
It was very disappointing that VIEXS offered no payment details at all. Usually, brokers still in development tend to include, at least, a minimum deposit requirement. But this one has not.
The common minimum deposit is $250.
Payment methods commonly used are credit cards, debit cards, alternative services, bank transfer methods, and cryptocurrency wallets.
Deposits are processed anywhere between a couple of minutes to a couple of days.
VIEXS WITHDRAWAL METHODS AND FEES
In a similar move, the withdrawal information is, for some reason, kept at bay. Again, the broker could have mentioned something. Instead, it leaves us to speculate once more.
What we do know from previous brokers is that the methods for withdrawing are the same as the depositing ones.
The minimum withdrawal is commonly lower than the minimum deposit.
Withdrawal processing times are usually around 1 to 5 days, depending on the method.
We notice that there will be commissions starting from 0.08%. Now, we don’t know how these will apply, whether to spreads or withdrawals. It is possible that deposits will be commissioned.
VIEXS shows a lot of promise and seems to be very ambitious. The FCA license is by far the best guarantee that this broker is about to deliver. It’s just a matter of when.