Vittaverse Review

Vittaverse Review

Vittaverse is an offshore broker that has only been on the market for a few years. These things understandably create suspicion as to whether this broker is trustworthy. But despite the lack of a licence from a top-tier financial regulator, Vittaverse has shown ambition to grow. The broker is a member of the Financial Commission’s voluntary Investor Compensation Fund, which does provide some guarantees for client funds.

The broker offers the two most advanced trading platforms, MetaTrader 5 and cTrader. This enables the implementation of even the most sophisticated trading strategies. Vittaverse gives a choice between two trading account types with different pricing methods, which provides additional flexibility to investors. The trading conditions appear to be competitive and the tradable instruments are significant in number, with an obvious emphasis on cryptocurrencies. The broker provides additional incentives for high-volume traders. Vittaverse clients have the opportunity to earn passive income through Copy Trading and MAM accounts, as well as take advantage of bonuses and promotions. The broker also only uses cryptocurrencies to deposit and withdraw funds from trading accounts, making it unsuitable for clients who prefer conventional payment methods.

Vittaverse Licenses and Regulation

Behind the broker Vittaverse are several companies with the same name, Vittaverse Ltd, based in different offshore areas –  St. Vincent and the Grenadines (SVG), Island of Mwali and the Seychelles. The broker operates through the domain vittaverse.com.

When registering we are required to agree to a Customer Agreement, but when we click on the link we are taken to a generic Privacy Policy. The actual Customer Agreement can be found in the documents section of the website. The document clearly states that the client is contracting with a company based in SVG and that this offshore area is the applicable jurisdiction.

One of our more serious objections to this broker is that it misrepresented its regulatory status.  The website states that the company  Vittaverse Ltd Is “regulated by the Mwali International Services Authority (MISA)” and “holds a license from the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), ensuring compliance with international financial regulatory standards”. Regarding the company in Seychelles it is stated that “Vittaverse LTD. is registered in the Seychelles, with a pending application to the Seychelles Financial Services Authority that is currently in process.”

SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not licence forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.

Due to the large number of scammers taking advantage of this lack of regulatory oversight, starting in 2023, the financial authorities in the SVG began requiring international brokerage firms registered in the country to provide proof that they hold the necessary licences in the jurisdictions in which they provide financial services. It can be assumed that the registration in Mwali was done to be able to claim to the authorities in SVG that the broker has licenses in other countries. But both companies are not subject to any significant regulatory scrutiny.

So, at least at the time of writing this review, the only kind of guarantee for Vittaverse clients is the broker’s membership in the Financial Commission. The Hong Kong based Financial Commission is an independent organization which specializes in regulating disputes between brokers and traders working on the forex market. Member brokers also participate in an investor compensation fund that guarantees compensation of up to EUR 20,000 in the event of the broker’s bankruptcy.

If Vittaverse were to be licensed by the financial regulator in Seychelles in the future and relocate its operations there, this would provide somewhat greater assurances of financial stability and guarantees of customer funds. This jurisdiction is one of the most established offshore financial centres and many leading brands in forex trading base their global operations there.

The institution responsible for this sector there is the Seychelles Financial Services Authority (FSA). The FSA is responsible for the licensing, regulation, and supervision of non-bank financial services in Seychelles, including forex trading. As part of its regulatory framework, the FSA imposes specific capital adequacy requirements to ensure that brokers maintain financial stability and are able to withstand market volatility. The minimum capital requirement for forex brokers in Seychelles can vary depending on the specific license category. For a typical forex broker license under the FSA, the required minimum capital is often around $50,000 USD. This amount serves as a base, and the requirement can increase based on the broker’s trading volume, risk exposure, and other regulatory assessments. Beyond the initial capital, brokers may also be required to maintain operational capital that aligns with their liabilities. This ensures that they have sufficient funds to cover client trades and potential losses.

Brokers must have adequate risk management systems in place to monitor and control the risks associated with their business activities. Seychelles-based brokers are required to keep client funds in segregated accounts separate from their corporate funds to protect clients’ investments.

But as it stands at the time of writing this review, Vittaverse customers are customers of a completely unregulated company. A forex broker based in an offshore area without stringent regulatory oversight, such as St. Vincent and the Grenadines, offers both advantages and disadvantages for traders. Offshore brokers can offer much higher leverage, sometimes up to 1:1000 or more, which may be appealing to traders seeking to maximize their trading positions with minimal capital. Higher leverage can benefit traders who employ aggressive strategies or prefer high-risk, high-reward trading setups, which may be restricted in tightly regulated environments. Offshore brokers often have reduced operating expenses due to lighter regulatory fees, allowing them to offer competitive spreads, lower commissions, and minimal fees. Such brokers typically impose fewer restrictions on trading techniques like scalping, hedging, and high-frequency trading, appealing to traders who use these strategies. Many offshore brokers offer promotional incentives, such as deposit bonuses, cash rewards, and trading rebates, which may not be permitted in regulated jurisdictions. These bonuses can increase trading capital, especially for new traders, potentially amplifying profit opportunities. Offshore brokers generally have a simplified account setup process, often with minimal identity verification requirements compared to regulated brokers. These brokers often allow smaller initial deposits, making forex trading more accessible to new traders or those with limited funds. Offshore brokers frequently support alternative funding options, including cryptocurrencies, local payment processors, and other methods that may be restricted by regulatory bodies.

But without regulatory oversight, traders have no formal recourse if the broker engages in unethical practices, delays withdrawals, or engages in price manipulation. Traders are not protected by investor compensation funds, which are commonly mandated in regulated regions to reimburse clients if the broker becomes insolvent. Offshore brokers can sometimes operate without accountability, increasing the chance of encountering fraudulent or fly-by-night operations that could result in significant financial losses for traders. Unregulated brokers may have less transparent pricing and order execution, leading to issues like slippage, re-quotes, or widened spreads that disadvantage the trader. Most offshore brokers do not offer negative balance protection, meaning traders can lose more than their initial deposit during extreme market volatility, leading to potentially significant debt. Many offshore brokers are not required to segregate client funds from their operating capital, which increases the risk of misappropriation or loss of funds if the broker faces financial difficulties. Offshore brokers typically do not disclose their financial health or business practices publicly, leaving traders with limited insights into the company’s stability or integrity.  In some cases, offshore brokers have unclear or complex ownership structures, making it difficult to assess their legitimacy or track record. Offshore brokers may impose withdrawal restrictions, delays, or high fees, especially for larger withdrawals, which can frustrate traders seeking quick access to funds. Offshore brokers may impose fees for currency conversion, particularly if they primarily handle foreign currency transactions. Offshore brokers operating without regulatory oversight may be challenging to hold accountable in legal disputes. International litigation can be costly, time-consuming, and complicated, with limited guarantees of resolution. Trading with an unregulated offshore broker may carry reputational risks, as other traders and financial institutions might perceive the choice as risky or untrustworthy.

While brokers based in offshore jurisdictions without regulatory oversight, like St. Vincent and the Grenadines, can offer benefits such as higher leverage, lower costs, and greater flexibility, these advantages come at a cost. The lack of regulatory protection, increased risk of unethical practices, and limited avenues for dispute resolution make it essential for traders to exercise caution. Due diligence, including researching the broker’s reputation and history, is crucial to mitigate the potential risks associated with trading through an unregulated offshore broker.

Vittaverse Trading Software

Vittaverse offers its clients a highly potent combination of the two most advanced auction platforms in the Hindu space – MetaTrader 5 and cTrader. This enables traders to apply even the most sophisticated investment strategies.

MetaTrader 5 (MT5) is the successor to the highly popular MetaTrader 4 (MT4) trading platform, developed by MetaQuotes Software and released in 2010. MT5 was designed to cater to a broader range of financial markets and to provide more advanced features compared to MT4. While MT4 remains a favorite among forex traders, MT5 has grown in popularity due to its enhanced capabilities, particularly for those who trade multiple asset classes or who require more sophisticated trading tools. Unlike MT4, which is primarily focused on forex trading and CFDs (Contracts for Difference), MT5 supports trading in a wide variety of financial instruments, including forex, stocks, commodities, indices, bonds, and futures. This multi-asset capability allows traders to manage all their investments from a single platform, making MT5 suitable for those who want to diversify their portfolios across different markets. MT5 features a more modern and intuitive interface compared to MT4. The platform is designed to be user-friendly while providing access to a comprehensive set of trading tools. The layout is customizable, allowing traders to arrange charts, indicators, and other tools according to their preferences.

MT5 significantly expands on the charting and analysis capabilities found in MT4. It includes 21 timeframes (compared to 9 in MT4) and provides access to over 80 built-in technical indicators and analytical tools. Traders can open up to 100 charts simultaneously, offering greater flexibility in analyzing multiple assets or applying different trading strategies. MT5 also supports more types of graphical objects, including Gann, Fibonacci, and Elliott Wave tools, which are useful for advanced technical analysis. One of the standout features of MT5 is its Market Depth (DOM) functionality, which provides real-time information about the volume of buy and sell orders at different price levels. This feature is particularly valuable for day traders, scalpers, and those using strategies that require precise entry and exit points. Market Depth allows traders to see the liquidity available at each price level, helping them make more informed trading decisions.

MT5 supports a wider range of order types compared to MT4. In addition to the standard market and pending orders, MT5 includes Buy Stop Limit and Sell Stop Limit orders, as well as Request Execution and Exchange Execution. The platform also includes netting and hedging modes, allowing traders to choose how positions are managed. Netting is used in exchange markets and allows only one position per instrument, while hedging allows multiple positions (long and short) on the same instrument, similar to MT4. MT5 includes an integrated economic calendar that provides real-time updates on economic events and news that can impact the markets. This feature allows traders to stay informed about key events such as interest rate decisions, employment reports, and GDP releases, helping them to anticipate market movements and adjust their strategies accordingly.

MT5’s strategy tester is more advanced than the one in MT4. It supports multi-threaded, multi-currency, and real tick data testing, enabling traders to backtest their Expert Advisors (EAs) with greater accuracy and speed. The strategy tester also includes a visual mode, which allows traders to see how their strategies would have played out in the past, providing valuable insights for optimizing trading systems. MT5 uses the MQL5 (MetaQuotes Language 5) programming language, which is more powerful and versatile than MQL4, used in MT4. MQL5 is designed for developing more complex trading algorithms, indicators, and scripts. It supports object-oriented programming and provides faster execution, making it suitable for high-frequency trading and more sophisticated automated trading strategies. MT5 is optimized for faster execution and better performance, particularly for trading large volumes or multiple instruments. The platform’s architecture is designed to handle more data and process trades more efficiently, reducing latency and slippage. MT5 has a built-in market for purchasing trading robots (EAs), indicators, and other tools, similar to MT4. However, the marketplace in MT5 is more extensive, offering a broader range of tools and resources. Additionally, MT5 has a larger online community and a social trading network, where traders can share strategies, signals, and trade ideas.

cTrader is a trading platform developed by Spotware Systems that is known for its intuitive interface, advanced trading capabilities, and a strong focus on transparency.  cTrader is widely recognized for its sleek and intuitive interface, which is designed to be both aesthetically pleasing and functional. The platform offers a customizable workspace that allows traders to arrange charts, indicators, and other tools according to their preferences. This user-centric design is aimed at reducing the learning curve for new traders while providing advanced functionality for experienced users. cTrader provides robust charting capabilities with over 70 built-in technical indicators and a variety of chart types, including candlestick, bar, and line charts. The platform supports multiple timeframes, from one minute to one month, and allows traders to open an unlimited number of charts simultaneously. cTrader also includes a range of drawing tools, such as Fibonacci retracements, trend lines, and channels, which are essential for technical analysis.

A standout feature of cTrader is its Level II Pricing, which shows the full market depth with prices from multiple liquidity providers. This feature is particularly valuable for scalpers and day traders who require detailed information about the available liquidity at different price levels. Market depth allows traders to see the number of buy and sell orders at various price points, enabling more informed trading decisions. cTrader supports a wide range of order types, including market, limit, stop-loss, take-profit, and trailing stop orders. Additionally, cTrader offers “Advanced Protection” for orders, allowing traders to set multiple stop-loss and take-profit levels for a single position. The platform is designed for fast and accurate order execution, with one-click trading and a feature called QuickTrade, which enables traders to place trades directly from the charts or the order window.

cTrader integrates seamlessly with cAlgo, a separate platform designed for algorithmic trading using the C# programming language. cAlgo allows traders to develop, backtest, and optimize automated trading strategies (known as cBots) and custom indicators. The use of C# provides a familiar and powerful environment for developers, making it easier to create complex algorithms compared to the MQL4 or MQL5 languages used in MetaTrader.

cTrader includes a built-in social trading feature called cTrader Copy, which allows traders to copy the strategies of other successful traders. This feature is similar to the copy trading functionality available in other platforms but is tightly integrated into the cTrader ecosystem, providing transparency and ease of use. Traders can choose to become Strategy Providers and earn commissions from their followers or simply follow the strategies of others.

cTrader is available in various versions, including a desktop application, a web-based platform (cTrader Web), and mobile apps for both iOS and Android devices. The web and mobile versions are fully functional, allowing traders to manage their accounts and execute trades from virtually anywhere with an internet connection.

Despite the advancements offered by MT5 and cTrader, many traders still prefer MT4 for several reasons. MT4’s interface is simpler and more straightforward, which appeals to many traders who prefer a no-frills approach to trading. Its widespread adoption means that many traders are already familiar with its features and functionalities, making it a comfortable choice. MT4 has been around longer, leading to a larger user base and a more extensive library of custom indicators, EAs, and scripts. This wealth of resources is a significant draw for traders who rely on community-developed tools. Many brokers continue to offer MT4 due to its popularity and the established demand from traders. For these reasons, the absence of MT4 among Vittaverse’s trading software could be a deal breaker for traders with specific preferences. The broker’s clients can use the desktop and mobile apps of cTrader and MT5, as well as the web version of cTrader. But at the time of writing this review, the link to the MT5 web version on the Vittaverse dashboard was not working. The broker also does not offer its own mobile application that allows managing the finances and other parameters of trading accounts via a mobile device.

Taking full advantage of the automated trading capabilities of the MetaTrader and cTrader platforms requires the scripts and algorithms to function reliably 24/7. Retail traders can achieve this through the Virtual Private Server (VPS) service.  Some brokers offer their own VPS service or cover the subscription fees of clients meeting certain conditions for invested capital and traded volume. But Vittaverse does not offer such services and clients must rely on third-party providers.

Vittaverse Account types and trading conditions

Vittaverse offers two types of trading accounts, a respectable number of tradable instruments and relatively competitive trading conditions – although in some cases the trading cost is not clearly specified.

The initial registration of a Vittaverse  account is straightforward – requiring you to provide your full name, email, phone, country of residence, and choose a password. Only email verification is required at this stage of registration. You will also need to check the acceptance of the Customer Agreement. As pointed out in another section of this review, the link in the registration form actually takes you to a different document, the Privacy Policy.

After initial account registration, you get access to the Client Area of the website, but with limited functionality – you cannot deposit and withdraw funds or trade with a live account. Only registration of Demo accounts is possible. To be able to start real trading, you must verify identity and provide proof of address. A National ID, Passport or Driver’s License can serve as proof of identity. In addition to this, you must attach a selfie to prove that these documents are yours. After providing proof of address, such as a recent utility bill, you must also complete an accreditation test. The final step is required to confirm that you have an understanding of the risks involved in trading subprime financial instruments. This level of verification is usually required by brokers in more heavily regulated jurisdictions, with most offshore companies having a more lax verification procedure.

After verification you need to create trading accounts. Vittaverse offers two main types of accounts – Standard and ECN Pro. For customers maintaining a balance of more than 12,000 USD, a VIP account with more favorable terms is available. Since the only base currency option is USD and the leverage is fixed, the only other choice is the trading platform you will use. Vittaverse allows you to create one live and demo account of each type – i.e. Standard MT5 and ECN MT5, Standard cTrader and ECN cTrader. The minimum deposit for Standard account is 15 USD, and for ECN Pro – 100 USD.

In forex trading, Standard accounts and ECN (Electronic Communication Network) accounts differ primarily in how trading costs are structured, how orders are executed, and the type of traders they appeal to.

With Standard Accounts traders pay a floating spread, which is the difference between the bid and ask prices. There are no additional commissions. Orders may be executed internally by the broker rather than directly connected to interbank liquidity providers. Spreads can widen significantly during market volatility or news events, increasing trading costs. Trading costs are straightforward to calculate since there are no additional commissions. Lower upfront capital requirements and simpler cost structures make these accounts more accessible to novice traders. Less reliance on raw market conditions means order execution can be more stable, though at the cost of higher spreads. However, floating spreads tend to be wider on average than the raw spreads in ECN accounts, particularly during low-volatility periods. In some cases, the broker may act as the counterparty to the trade, which could create potential conflicts of interest. Prices may not reflect the actual interbank market rates, as they are broker-set. This type of account is most suitable for beginner and intermediate traders, traders who prioritize simplicity and want to avoid commissions and those trading less frequently or with smaller volumes.

With ECN accounts traders pay the interbank market’s raw spread (often near zero) and a fixed commission per lot traded. Orders are routed to liquidity providers or other market participants, ensuring transparency. Raw spreads can widen or tighten based on market conditions but tend to be narrower than Standard account spreads during stable periods. ECN accounts often have better execution speeds with minimal slippage due to their connection to the interbank network.

Raw spreads combined with a fixed commission can result in lower overall costs for high-volume or frequent traders. Traders get access to interbank spreads and liquidity, providing a clearer view of market conditions.The broker acts as an intermediary rather than a market maker, reducing potential conflicts of interest. These accounts are ideal for strategies like scalping, day trading, and algorithmic trading, which rely on tight spreads and fast execution.

But during high-volatility periods, raw spreads can widen significantly, increasing trading costs. ECN accounts are more suitable for experienced traders or professionals, high-frequency traders, scalpers, and algorithmic traders and those trading with larger volumes who benefit from lower spread costs.

Providing both account types allows brokers to appeal to beginner traders (Standard accounts) and experienced traders (ECN accounts). Traders can switch between account types as they gain experience or as their trading style evolves. Standard accounts may be more suitable in volatile markets for stability, while ECN accounts shine in stable conditions with low spreads. Scalpers, algorithmic traders, and position traders can all find suitable options with a broker offering both account types.

According to the descriptions of the account types on the Vittaverse website, the Standard account offers spreads starting at just 0.4 pips and the ECN account at 0.0 pips. When using Demo accounts we saw a spread of 0.9-1 pip for EUR/USD when using the Standard account and 0.1 pip when using the ECN account. Regarding the commission for an ECN account, we encounter ambiguity. This commission is supposed to be fixed, but the website states that it “starts from 4 USD per lot”. 4 USD per round lot sounds a bit too good to be true, and it turns out that it is. When a question was directed to customer support, we were told that it was actually a commission per side per lot. The commission of 4 USD applies to forex trading, while in gold, oil, gas and index trading the commission is 5 per side per lot. However, this is still quite a competitive price. When trading forex with both types of accounts the trader will pay 9-10 USD per lot. Both account types have a fee of 0.06% for cryptocurrency trading and 0.12% for stock trading.

Vittaverse promises even more favorable terms for high-volume and high-capital customers. If you have been a client of the broker for at least six months, have deposited more than 6000 USD and have traded at least 60 standard lots, you can request a special Loyalty Account. In addition to lower spreads, this type of account provides prioritized support and swap-free trading. This allows you to hold open positions overnight without incurring interest charges. The broker also offers VIP accounts for clients who have deposited more than 12,000 USD in a period of 15 days. In addition to the added benefits of the loyalty account, VIP clients also receive a 0% stop-out level.

Vittaverse allows you to trade 103 currency pairs, 16 commodities, 7 ETFs, 136 cryptocurrencies, 119 stocks and 13 indices.

As an offshore broker, Vittaverse can offer higher leverage than brokers in highly regulated jurisdictions. Vittaverse allows trading of currency pairs, commodities and indices with a leverage of 1:500. Vittaverse leverages to 1:5 for ETF trading, 1:50 for cryptocurrency trading and 1:10 for stock trading. By comparison, in the European Union, the United Kingdom and Australia, retail clients can trade forex with a maximum leverage of 1:30 and crypto CFDs trading with a maximum leverage of 1:2.

Vittaverse also allows a lower stop-out level than in the EU and other regulated jurisdictions – 30%. But note that this broker has no regulatory obligation to provide you with negative balance protection. This increases the risk of significant losses, especially on highly leveraged trades.

Vittaverse provides opportunities for simplified trading experience and passive income through Copy Trading and MAM accounts.

A Multi-Account Manager (MAM) account is a specialized trading solution provided by forex brokers, enabling professional traders or fund managers to manage multiple client accounts simultaneously from a single master account. This setup is particularly beneficial for money managers who execute trades on behalf of multiple investors, streamlining the trading process and ensuring efficient trade allocation. MAM accounts allow a manager to execute trades across all linked client accounts from one master account, simplifying the trading process. MAM accounts offer the flexibility to customize trading conditions and agreements, catering to the specific needs of different clients. Both managers and clients have access to real-time reports, providing transparency and the ability to monitor trading activities and account performance. Managers can handle multiple accounts without the need to place individual trades for each client, saving time and reducing operational complexity. Managers can implement various trading strategies across different accounts, tailoring approaches to meet individual client objectives. It’s crucial for both managers and clients to ensure that the broker offering MAM accounts is regulated and adheres to industry standards to protect client funds and maintain transparency. Managers typically charge performance fees, which are agreed upon in advance. Clients should understand the fee structure and how it impacts their returns.

Copy trading is a form of trading that allows individuals to automatically replicate the trades of more experienced and successful traders in the forex market. This approach leverages technology and the social aspect of trading, enabling less experienced traders to benefit from the expertise of seasoned professionals without having to directly manage their trades.

Users can browse through the profiles of traders and select one or more to follow based on their performance metrics, risk tolerance, and trading style. Once a trader is selected, the user allocates a portion of their trading capital to copy that trader’s trades. The amount allocated will determine how much of the leader’s trades are replicated in the user’s account. The trades of the selected trader are automatically copied into the follower’s account in proportion to the funds allocated. Copy trading allows beginners to participate in the forex market and learn from experienced traders. They can observe how professionals analyze the market and make decisions. It eliminates the need for in-depth market knowledge, making forex trading accessible to those who may not have the time or expertise to trade actively.

If your account is inactive for 12 calendar months, the broker will start charging a monthly inactivity fee of 10 USD.

Vittaverse Deposit and Withdraw Methods

Vittaverse does not charge fees for depositing and withdrawing funds from your trading accounts, which is standard industry practice. What is non-standard with this broker is that depositing and withdrawing funds is only possible via cryptocurrencies. The usual practice is to be able to deposit and withdraw via bank transfer, credit/debit cards and e-wallets.

Deposits and withdrawals in cryptocurrencies are subject to significant price fluctuations. The value of your deposit could change drastically before it is credited to your trading account or before a withdrawal is converted into fiat currency. Many offshore brokers are not regulated or operate under lenient regulatory standards. When coupled with cryptocurrency transactions, which are often less traceable and more challenging to dispute, this can increase the risk of fraud or fund mismanagement. Relying solely on cryptocurrency excludes clients who prefer traditional payment methods such as bank transfers, credit/debit cards, or e-wallets. This limitation can deter potential traders, particularly those new to cryptocurrencies.

Cryptocurrency transactions can trigger additional tax obligations in some jurisdictions, and the legal status of crypto trading varies by country. Traders may face compliance challenges or unclear tax reporting requirements. Cryptocurrencies, while secure in theory, are vulnerable to hacking and phishing attacks, particularly if the broker does not implement strong cybersecurity measures or if clients store funds on exchanges with weak protection. Cryptocurrency transactions are irreversible. Unlike traditional payment methods, traders cannot request a chargeback or dispute a transaction if issues arise with the broker.

A forex broker exclusively allowing cryptocurrency transactions has unique benefits, including speed, privacy, and global accessibility. However, significant risks such as price volatility, lack of regulation, and limited payment options could deter many traders. Such brokers are best suited for crypto-savvy traders who are comfortable with the associated risks and are looking for a decentralized and borderless trading environment. Traders should thoroughly research the broker’s reputation, security measures, and regulatory status before committing funds.

Vittaverse Bonuses and Promotions

Since it is not subject to regulatory restrictions, Vittaverse could offer all kinds of bonuses and promotions to its clients. In the Client Agreement we see provisions for deposit bonuses, but at the time of writing this review the broker does not offer such bonuses. In past periods, the broker has also offered welcome bonuses for new clients.

Vittaverse’s active promotional offers include Challenges, in which active and successful traders who achieve certain results can receive funded trading accounts as a reward, the profits of which remain with them.

The Classic Challenge requires a deposit of at least 100 USD. In two stages of 7 business days each, participants have to achieve profit targets of 10% in the first stage and 13% in the second. The participants cannot achieve more than 20% of their financial target in each stage with a single trade (this includes simultaneous trades) Trades lasting less than 5 minutes are subject to this rule as well. Those who meet these conditions receive a funded account in an amount dependent on the deposit and volume traded. A deposit of 100 USD and a volume of 3 lots provides a funded account worth 5,000 USD, 200 USD and 5 lots provides 10,000 USD, 400 USD and 12 lots provides 25,000 USD, and a deposit of 900 USD and a traded volume of 20 lots is rewarded with a funded account worth 50,000 USD.

The funded account can leverage up to 1:5 and cannot trade cryptocurrencies. The account also cannot be used for Copy Trading. Automated trading is only allowed if the scripts are written by the participant.

You are free to choose the trading volume and method, but if your account incurs a loss of 10% from the initial balance, the system will automatically close your trades, and your account will be deactivated. If your monthly profit exceeds 6% for three consecutive months, you can request an increase in your account capital. The capital can be increased by 25%, up to a maximum of $500,000.  If your total profit over three months is less than 6%, your account will be deactivated. Profits made through a funded account are shared – 70% for the merchant and 30% for Vittaverse.  To withdraw profits from your funded account, submit a written request along with your funded account number between the 25th and 30th of each month by emailing [email protected]. The profit will be transferred to your Vittaverse wallet between the 1st and 5th of the following month.

The Super Challenge also has a minimum deposit requirement of 100 USD. The only rule for both stages of the challenge is to increase your account balance by 100% in each stage. The amount of the funded account depends only on the initial deposit and ranges between 10,000 USD and 200,000 USD.

The gradual increase of each trader’s account occurs in a period of 3 months. You must generate at least 6% net profit monthly for 3 consecutive months. Note that during the gradual increase, the trader’s account must be higher than the initial deposit (only the profit is counted). In that case, the eligible trader will receive a 25% increase in capital. The maximum amount a funded account can reach is 500,000 USD. The other conditions are identical to those for the Classic Challenge.

Vittaverse Tools and Education

The educational resources provided by Vittaverse are limited to an e-book containing a glossary on the basics of forex trading.  Vittaverse, on the other hand, maintains its own market news portal where a considerable amount of up-to-date content can be found.

There are no additional ancillaries on the website itself, except for a basic Economic Calendar. But registration gives access to the analytical resources of the leading provider Autochartist. Autochartist provides technical and statistical analysis and immediately recognises emerging and completed trade setups. Analysis types vary to cater for all types of traders, technical analysis types include Key Levels (Breakout and Approaching). The subscription also includes a daily email Market Report.

Notes from the author:

Vittaverse is a relatively new offshore broker, which in itself does not inspire confidence. The broker also does not make a good impression by trying to present itself as more regulated than it is. But we have to admit that in all other respects Vittaverse actually makes a good impression. Participation in the Financial Commission and the intention to obtain a licence in the more respected offshore jurisdiction of Seychelles demonstrates serious intentions to develop. One of the pleasant surprises in compiling this review was the helpful and prompt customer support, which via live chat answered questions correctly and in detail - something that is not a given even among more established brands. The actively maintained market news portal also demonstrates a serious attitude and ambition on the part of this broker.

The availability of two advanced trading platforms, MT5 and cTrader, as well as the availability of Standard and ECN accounts enables the implementation of virtually any trading strategy. The cost of trading is undeniably competitive, but would be more clearly described on the website. The broker obviously emphasizes cryptocurrency trading, but provides a large enough selection of other tradable instruments. At the same time, however, the limitation of payment methods for deposit and withdrawal to cryptocurrencies only is a disappointment. If you are an active trader who is aware of the risks of working with an offshore broker, Vittaverse is an option worth considering.