Veracity Markets Deposit
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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:
Veracity Markets is a new Forex broker founded in 2020 that focuses on achieving its clients’ goals through trading with confidence. Developing into an essential broker in the African trading industry is the goal of this Forex Broker.
As a relatively new Forex broker, Veracity Markets has been steadily building its way to becoming one of Africa’s leading financial players.
Traders of all levels can benefit from the features offered by this Forex broker. Trading accounts at Veracity Markets range from small to large, and there are over 250 currency pairs.
Global traders can now easily access the financial markets with Veracity Markets in 2020. With MT4‘s desktop, web, and mobile trading platforms, the broker offers over 250 financial instruments to trade.
The company provides several trading conditions that facilitate efficient trading, including 24/5 customer support, ultra-low spreads, quick deposits and withdrawals, leverage of up to 1:500, and more.
No deposit bonus for veracity markets
The regulated broker offers no no-deposit bonus. As an alternative, it provides a demo account to practice trading.
There are no minimum or maximum positions, and users can track price movements live as they would on a live trading account. Users can also learn with a whopping $10,000 provided by Veracity Markets.
How do you claim your deposit bonus on the veracity market?
A minimum deposit of R2000 is required to unlock this bonus at writing.
Your deposit will automatically be credited with the 100% bonus once confirmed. However, the market bonus is only applicable to Standard Accounts in USD and ZAR.
Log in to your verified Client Area here.
- 2. Open a live account by clicking on “Open Live Account.”
- Go to the drop-down list and select “100% Deposit Bonus”.
- Create the account. After creating the account, deposit money into it.
- Existing accounts are not eligible for the 100% deposit bonus.
After how long can you allocate deposits to your trading account?
Local ABSA deposits can take up to 48 hours to process, while international deposits can take 3-5 days. You will receive an instant credit to your live account if you deposit OZOW (South Africa, only), Skrill, Astropay, Neteller, and Bitcoin.
When a client deposits money using OZOW, Neteller, Astropay, Skrill, or Bitcoin, there is an automatic allocation of a 5-digit number in the email notification.
Which countries are allowed to deposit via the OZOW Payment Gateway?
South Africans traders are the only ones who can use Ozow.
Can you earn interest on funds deposited into the live trading account?
There is no interest paid by Veracity Markets on any currency account balance.
What instruments can you use for trading on veracity markets?
A significant advantage of Veracity Markets is the wide variety of financial instruments it offers across various asset classes. Some of these classes are:
Trading precious metals and materials is available on Veracity Markets. Gold, silver, palladium, crude oil, and petroleum are just a few of them.
Silver and gold can be traded online without re-quoting at Veracity Markets. This is because they have very liquid markets, which allow for immediate trades. In addition, you can also use the same account for buying and selling assets.
An index represents a wide range of stocks within a particular segment of the overall market. The use of index trading allows traders to diversify their portfolios by capturing changes in multiple stocks.
Several top stock indices are available on Veracity Markets, such as the UDA 500, France 40, and NASDAQ 100. You can also maximize your profits with leverage trading by using the platform’s 1:500 leverage options.
Forex traders can trade their currencies using the derivatives trading service on Veracity Markets at any point during the day. Several benefits to trading on Veracity Markets include access to over 55 trading pairs (such as major assets, crosses, and exotic pairs).
You can trade 24 hours a day, and you won’t get re-quotes either. You benefit from 1:500 leverage on trades as well as with indices.
You get 24/7 access to the market, and there are no hidden fees or extra costs associated with your account.
Information about veracity markets fees & commissions
It is affordable to trade on Veracity Markets. All fees are transparent. You can also maximize your profit because there are no non-trading fees.
All accounts have floating spreads while trading. Therefore, market volatility will affect your account. ECK Account spreads begin at 0 pips.
Standard Account spreads start at 1.6 pips, whereas Fixed Account spreads begin at 1.2 pips. Neither Fixed Accounts nor Standard Accounts charge commission.
If you are trading metals or forex with the ECN Account, you will be charged $7 per lot.
Are there any fees charged on the deposits and withdrawals?
With Veracity Market, there are no fees associated with withdrawals and deposits. There are also no such hidden or additional fees related to transactions.
If you don’t use your account for more than a year, you will pay an inactivity fee.
Different account types on veracity markets
There are three major types of trading accounts available on Veracity Markets. These include:
- Standard Account
- Fixed Account
- ECN Account
Several parallels exist between these account types, including spreads, recommended deposits, trading platforms, order volumes, and more. Beginners can try out Veracity Markets’ demo account before committing to it.
Several similarities also exist between the accounts. Among them are:
- There is maximum leverage of 1:500
- – 250 (lot) is the order value
- All support the MT4 platform
- Positions open indefinitely
- Expert advisors are available to you
- All accounts offer market execution
Standard Accounts, the first type of trading account, require a minimum deposit of 250USD to open. In addition to low floating spreads, MT4 doesn’t charge commissions, which allows you to trade for as little as 1.6 pips.
A maximum leverage level of 1:500 applies to the Standard Account, with no maximum number of open positions. Using the MetaTrader4 platform, traders can use Expert Advisors (EAs).
The minimum deposit amount for the Fixed Account is 250 USD. Trading commissions aren’t necessary with floating spreads starting as low as 2 pips.
With a Fixed Account, you can open a limitless number of open positions, while the maximum leverage level is 1:500. Furthermore, with the MT4 trading platform, you can use Swap-Free Accounts (SFAs) and Expert Advisors (EAs).
ECN accounts are the third type of trading account and require a minimum deposit of 250 USD. There is also the option of floating spreads, which start at 0.0 pips.
Commissions for Forex and Metals trades will be 7USD per lot only. A Swap-Free account is not offered with this forex trading account. However, with 55 currency pairs and two metals to choose from, you will be able to trade fully.
Can you make money with veracity markets?
Whether you succeed in trading depends entirely on you. But, at least you don’t have to worry about fees on withdrawals or shady practices associated with bonuses when trading with Veracity Markets.
Although even legitimate brokers like Veracity Markets estimate that around 70 percent of their traders lose part or all of their deposits when they trade, so you may want to keep that in mind as well.
In addition, traders using FSCA-regulated brokers cannot lose more than their deposit – the FSCA has no Negative Balance clause.
In addition, Veracity Markets charges a 50-unit fee for inactivity if a trader does not log on for 3 months. Of course, brokers charge this fee, but Veracity Markets charges above average for such a fee.
What are deposit methods available at veracity markets?
With wire transfers to FNB and ABSA, two South African banks, and electronic wallets like Skrill and Neteller, deposits can be made.
Wire transfers have no chargeback policy, so any money you send them is final, which means you cannot get a full refund if you want to.
You can easily and quickly withdraw funds from your Veracity Markets account. During the week, withdrawals are processed between 9 am and 5 pm, GMT +2. Requests are processed within 24 – 48 hours.
Veracity Markets only uses secure payment methods to send your funds to you to ensure that your funds are processed safely. Additionally, Veracity Markets fully adheres to all internal and regulatory procedures.
How to login into veracity markets?
Visit https://secure.veracitymarkets.com/login if you want to access your trading account with this broker. After logging in, you have the option to open a demo account or a live trading account.
You may have a different username and password for this broker’s website than MT4.
To retrieve your old login details, log into your old emails or click “forgot password” if you have issues logging into your account!
What are the terms & conditions for veracity markets withdrawal?
You will need to submit a withdrawal request manually at Veracity Markets if you wish to withdraw money from the brokers.
Below is a screenshot that shows withdrawals will be processed within 24 – 48 hours. In other words, if you have yet to receive your cashout, you have a problem.
There are no automated withdrawals at this broker. All withdrawals are manually processed.
You would receive your money back into your credit card if you made the deposit using a credit card. In addition, you would receive your funds by bank wire if you deposited via this method.
To ensure the finance department receives your request, it is always a good idea to send them an email.
Depending on the trading bank you are using, you may need to wait up to two days to receive funds withdrawn to your South African bank. However, payment from FNB should be received the same day.
- When you withdraw from Veracity Markets to your local bank, we do not charge a fee. However, for other withdrawal methods such as Neteller and Skrill, we charge a 2% fee.
- The live rate of the MT4 trading servers will be used at the time of withdrawal for all international payments and other currencies.
- Veracity Markets does not accept withdrawals from third parties. Veracity Markets trading accounts can only be credited in your name. The 3rd party will be reimbursed for funding received, and costs will be applied.
- The Funding process occurs from Monday to Friday, 9:00 am to 5:00 pm GMT+2.
Why choose veracity markets for trading?
Various commodities are available at Veracity Markets, including forex and stock indices. CFDs are used for trading all assets, and the major forex pairs can be leveraged up to 1:500.
Veracity’s selection, however, is still quite limited compared to other brokers, with the most notable exception being the complete absence of single stocks and cryptocurrencies.
Veracity’s high leverage might be especially attractive to European traders, whose leverage is typically limited to 1:30 due to strict regulations in the EU.
There is currently no broker that accepts clients from the UK, France, or Belgium, but most other European countries are catered to.
Traders of Veracity have access to both the classic desktop version of MetaTrader 4 (MT4) and its iOS and Android mobile applications.
As an additional feature, the broker offers MT4 users the ability to simultaneously control several different accounts from one platform.
Customers of Veracity have the option of using three live trading accounts before signing up, as well as a free demo account for the paper trading if they wish.
Standard accounts offer commission-free trading and a spread of 1.6 pips. There is no commission on fixed accounts, and the spreads range from 2 pips to 3 pips.
A forex and metals ECN account has commissions starting at USD 7 (on forex and metals only) and spreads starting at 0 pips.
Trading instruments are available through Veracity Markets, including Forex, Indices, Metals, Stocks, and Commodities. Spreads start at 0.0 pips at Veracity Markets, with Fixed, Standard, and ECN accounts available.
You can open an account with a minimum deposit of $10 and leverage of 1:500. Trading platforms include MT4 and MT5. There is no regulation for Veracity Markets.
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