Vortex Assets Review
Vortex Assets Review
Vortex Assets offers its clients a choice of several ECN types. All of them are commission-free, and offer both fixed and variable spreads, as well as micro tradeable lots. Besides, this broker offers a special Islamic account that is swap-free and Sharia-compliant.
Leverage levels available are high, reaching 1:400, but this is not unusual for a broker registered offshore.
In fact, the spreads are above average, and the minimum initial deposit is high for a brokerage operating without a license. There are a number of trustworthy brokers with strong regulation which have set no minimum initial deposit requirement, such as IG, for example.
The Company. Security of Funds
Black Parrot Limited (?)
UK, Marshall Islands
According to the information on its website, Vortex Assets is a forex and CFD broker and Market Maker that operates since 2014. It offers trading in 52 currency pairs, commodities, stock and indices CFDs on the good old MetaTrader 4 platform.
There are several companies mentioned on Vortex Assets’ web page: Black Parrot Limited, which is registered in the Marshall Islands; Estonian-based Blonde Bear OU that carries out clearing and billing services, Vortex Assets Corporation.
So, it is rather complicated with this broker, but It looks like it is based in the UK and we found out that actually there is a company called Vortex Assets Limited that is registered in the UK. Of course, it is not licensed by FCA.
Besides, we found out that that there is a warning issued against Vortex Assets Corporation by the Commissione Nazionale per le Società e la Borsa (CONSOB). The Italian regulator says that this broker is not authorised to provide investment services or carry out activities in Italy. Worse still, when we checked the user reviews about Vortex Assets in the Internet, we found that there are numerous complaints. Most traders claim it is a fraud that scams traders out of their money and then never answers their calls or e-mails, denies withdrawals, etc. Also, many of the user reviews say that Vortex Assets keeps changing its name (EU Trading Group being one of them) in an attempt to escape from its bad reputation.
Considering the above said, whatever the trading conditions offered by this broker and whatever the name of the company behind the brand Vortex Assets, we do not recommend doing business with it, at it is not regulated and is probably a scam. You’d better select a broker with decent regulation, such as those licensed by the UK’s FCA or Australia’s ASIC, for example.
The MT4 terminal is a perfectly equipped trading software which provides all the necessary tools and resources to analyze price dynamics of financial instruments, execute transactions and create & use automated trading strategies (Expert Advisors).
Like most Market makers, Vortex assets offers a welcome on-deposit bonus up to 100%.
Methods of Payment
Vortex Assets offers its clients the following deposit/withdrawal methods: via credit/debit card, wire transfer, Western Union and Union Pay.
There is also a Vortex Assets Cash Card (Visa & MasterCard) payment option.
Vortex Assets Review Conclusion
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