Veracity Markets Account Registration
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IMPORTANT NOTICE: Veracity Markets have been issued by the FSCA to immediately cease conducting any new business. Until further notice by the FSCA, clients can’t join Veracity Markets. We recommend you to sign up with the Top Traders Choice Broker below:
Trading Forex and CFD instruments online via Veracity Markets, an STP and ECN broker, has been available since 2020. Although there are clients from all over the world, the broker focuses on traders from African countries. Let’s explore further about Veracity Markets account registration.
With this broker, you can trade 250+ instruments; select from many different accounts, and enjoy excellent customer service 24 hours a day. The Financial Sector Conduct Authority (FSCA) regulates the operation of Veracity Markets.
It was founded in 2020, and its number one goal is to provide its customers with the confidence to trade Forex. Africa will soon have a significant broker in the forex trading industry with this broker.
Forex broker Veracity Markets has been gradually and steadily working its way up to become a significant player in the trading industry of Africa. Its features are tailored to the needs of its clients and facilitate the process of trading for traders at all levels. In addition to offering three types of trading accounts, Veracity Markets provides more than 250 currency pairs and provides 24/7 customer service.
Veracity markets account registration.
There are three different types of accounts at Veracity Markets: the Standard Account, the Fixed Account, and the ECN Account.
Every type of account has a different spread. However, Standard Accounts and Fixed Accounts are very similar, unlike ECN Accounts.
What are the 3 major account types in veracity markets?
1. Standard Account
For the first type of trading account, standard accounts, a minimum deposit of 250USD is required. With MT4, you can take advantage of as little as 1.6 pips floating spreads without charging any commission.
The Standard Account does not limit the number of open positions, with a maximum leverage of 1:500. MetaTrader4 is a platform that facilitates Expert Advisors (EAs).
2. Fixed Account
Additionally, the Fixed Account has a minimum deposit requirement of 250 USD. Finally, you will find that the floating spread starts as low as 2 pips, and there are no trading commissions.
With the Fixed Account, you can open an unlimited number of open positions with a maximum leverage rate of 1:500. In addition, with the MT4 trading platform, traders can use Swap-Free Accounts (SFAs) and Expert Advisors (EAs).
3. ECN Account
The third type of trading account is an ECN account that requires a minimum deposit of 250 USD. Floating spreads also start at 0.0 pips.
There is a commission of 7USD per lot only if you trade Forex and Metals. Further, a Swap-Free account is not offered with this forex trading account. There are 55 currency pairs and two metals available for trading, however.
Funding options for deposit & withdrawal procedure
The following channels are available for deposits and withdrawals at Veracity Markets:
- Local bank transfers
PayPal is not supported by the regulated broker yet. Deposits cannot be made using a credit or debit card. The Veracity Markets platform is relatively affordable and straightforward as far as fees are concerned.
Deposits and withdrawals are free at Veracity Markets. Unlike other platforms, which charge a nominal fee for withdrawals and deposits, this is a significant advantage.
Moreover, 12 base currencies are supported, so if you live in a country whose currency is listed, then the program may be helpful.
What is the minimum deposit requirement for availing market bonuses?
New and existing customers of Veracity Market receive a 100% bonus. Unlike most forex trading brokers, the Veracity markets allow withdrawals of both bonuses and profits.
A live trading account and a minimum deposit of R2000 are required to access this bonus at the time of writing. The 100% bonus will be automatically added to your account once your deposit has been confirmed.
Currently, the market bonus is only available for USD and ZAR Standard Accounts.
Veracity markets account registration/opening.
The registration process at Veracity Markets is simple. Once a potential client clicks on ‘Sign Up on the website’s homepage, they must fill out a few fields in the form.
To ensure that you understand the broker’s terms, conditions, and policies, you must carefully read the broker’s application. You may proceed if you agree with the broker’s terms, conditions, and policies.
After how many days will the account verification end?
Once all your documents are in order, you may need to wait up to 48 hours for your account/document verification to be approved.
Weekends and public holidays are not included in the above timeframe.
A guide about veracity markets trading account fees
Traders at Veracity Markets do not have to worry about any hidden fees or extra charges. The non-trading fees won’t be a concern since there are none. You will have to pay a commission based on your lot size if you open an ECN account for trading fees.
Veracity Markets review will tell you about the trading fees and the non-trading fees you should consider.
At Veracity Markets, you can trade on all three live accounts using floating spreads. In this way, traders will be exposed to market volatility. ECN accounts, on the other hand, have spreads that start at zero pips.
With a Standard Account, spreads begin at 1.6 pips, and with a trading Fixed Account, they start at 2.0 pips. Commissions are not charged on Standard Accounts or Fixed Accounts.
However, you will need to pay 7USD per lot to trade Forex and Metals via an ECN Account.
How long will it take to allocate the deposits into your trading account?
If you are depositing by EFT or Cash with ABSA, the local deposit could take up to 48 hours, and the international deposit could take up to 5 days. However, deposits will instantly be allocated to your account through OZOW (South Africans only), Skrill, Astropay, Neteller, and Bitcoin.
The automated email notification sent to the client automatically allocates the 5-digit number for Ozow, Neteller, Astropay, Skrill, and Bitcoin deposits.
What minimum amount do you need for opening a trading account?
Funding your account does not require a minimum. However, it is recommended that you start with R3500/$250. The amount of margin required will depend on what you are trading.
How much commission is charged on the fixed account opening?
Whenever you trade 100,000 (1.00), the commissions are $3.50 for the opening and $3.50 for the closing; $7.00 for the full round-turn
Trading 10,000 (0.10) costs you $0.35 for opening, $0.35 for closing, as well as $0.70 for round-turning
Commissions are $0.035 for opening, and $0.035 for closing; $0.070 for round-turns of 1,000 (0.01).
MT4 applies all commissions to trade at the start of it.
Can you open multiple trading accounts with Veracity Markets?
Multiple trading accounts are available at Veracity Markets. Just log into your Client Area and open a new account.
How do deposit and withdrawal in a veracity markets account?
Depositing and withdrawing money at Veracity Markets is quick and easy. It takes three business days to deposit and withdraw money at most, both processes are free of charge, and you have several payment options.
If you are an active trader, you can learn about the different Veracity Markets payment options you have available, as well as the account base currencies you can use.
Which base currencies are accepted for opening a trading account?
Account base currencies are available from twelve different providers at Veracity Markets. The account base currency of your choice will apply to all deposits and withdrawals.
You can select one of the following 12 base currencies:
USD, EUR, GBP, AUD, NZD, CHF, XAU, XAG, ZAR, JPY, CAD and NOK
Traders at Veracity Markets can choose between 12 account base currencies for their trading accounts.
You will not be charged a deposit fee when depositing funds into your trading account, and the transfer of money will not take long.
Although several payment options are available to you, electronic payment is the fastest since it is instantaneous.
Veracity Markets provides you with a two-step verification process, which you will find a valuable option if you are an active trader.
The two-step verification process consists of an initial deposit order; a second step is to confirm the deposit order via email or phone call.
Ensure that the account is yours and that you have made a deposit, make sure you are the account owner.
What instruments are available for trading in veracity markets?
Among the top forex instruments and derivatives affected by them, Veracity Markets offers several instruments.
You can trade three markets with Veracity Markets: Forex, Metals, and Indices, as well as Online Trading. Forex enables you to trade a wide array of currency pairs with a maximum leverage level of 1:500.
When it comes to metals, you can trade gold and silver without worrying about hidden fees or charges; extra fees are not added during the trading process.
The premier indices of the world are available through Indices, including NASDAQ, France 400, and USA 500.
What do you need to know about the veracity markets demo account?
With the Demo Account, you can simulate trading with Veracity Markets without facing any financial risks. It is a free and unlimited way to learn.
In real-time and in real market conditions, you will have the ability to trade with up to 10,000 USD. This will ensure that your trading experience will be 100% realistic.
Demo Accounts allow you to experience Veracity Markets’ trading platform without taking any financial risk.
- Opening an account is simple
- Demo Account for free
- Demo accounts are not time-limited
- Virtual funds of up to 10,000USD
- The same as a live account
- Only available with the Floating spreads
Advantages to start trading with veracity markets
- We are offering retail and professional traders a wide variety of trading accounts.
- No re-quotes. There is a direct price relationship between liquidity providers and the operation without a dealing centre.
- MetaTrader 4 and MetaTrader 5 have desktop and mobile versions.
- Leverage of 1:500 for all account types.
- A live chat option is available on the website and in your Personal Account 24 hours a day.
- Funds can be withdrawn to the most popular electronic wallets, Bitcoin, Skrill, and Neteller.
- Deposits from clients are held in separate accounts at central banks.
Disadvantages of Veracity Markets:
- Narrow spreads on a tranquil market and a $250 minimum deposit are not very attractive to novice traders.
- There are no educational resources, video tutorials, or glossaries on the broker’s website.
After how much time will the fund appear in your live trading account?
Your deposit will appear instantly in your trading account if you fund it with an online deposit method, such as Oz(South Africa), Neteller, Astropay, Skrill, and Bitcoin.
It usually takes one to two business days for banks in South Africa to transfer money. However, it may take up to five working days for international transfers.
Why does a trading account get locked?
A locked account is being used for any harmful activity (e.g., withdrawals, transfers, etc.).
As soon as the transaction is completed, the account is unlocked using the Report Server or Backup Server (MT4) to update the account balance from the trading platform.
In the event of a delay in a Metaquotes update, the account may remain locked if issues are handling the transaction (e.g., wait in a transaction).
It is possible to see if an account has been locked from your client area, and you can unlock it by calling the customer support centre.
Is it safe to trade with veracity markets?
AML policy, or anti-money laundering policy, requires Veracity Markets, a safe broker governed by a well-known and strict financial regulator.
Client funds are also stored in segregated accounts at Veracity Markets, and traders are protected from negative balances. Therefore, this forex trading broker values and protects its clients’ funds and personal information privacy and security.
The Financial Sector Conduct Authority in South Africa (FSCA) has licensed Veracity Markets Pty Ltd as a financial service provider.
South Africa’s Financial Sector Conduct Authority oversees non-banking financial services, including brokerage firms.
MT4 is a regulated trading platform that provides access to trade more than 250 financial instruments through Veracity. Customer support is available 24 hours a day, 7 days a week. Minimum deposits of $10 are required to open a trading account.
There may be differences or restrictions on some of the products or services outlined in this Veracity Markets review regarding some countries’ regulations.
A skilled client support team is always on hand to respond to traders’ general inquiries, account-related, and technical questions. Their contact channels include email, social media, and telephone. They are available 24/7. Get started with your Veracity Markets Account Registration.
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst