Table of contents:
- 1 About ViTrade
- 2 Which tradable instruments are offered by ViTrade?
- 3 These trading platforms are available to investors at ViTrade
- 4 The trading conditions of the Online Broker
- 5 The ViTrade customer service
- 6 Offers for training and further education at ViTrade
- 7 Conclusion
ViTrade user-ratings: $0
Asset varierity - 10/10
Trading platform - 10/10
Support - 8.5/10
Fees - 6.5/10
Deposit/Withdrawal - 10/10
Facts about the company:
- Type: CFD, Forex and Stocks broker
- Regulation: BaFin (Germany)
- Minimum deposit: $0
- Demo account: Free
- Markets: 1200+ Forex, CFDs, Stocks, Funds, Futures, ETCs, EFTs, Certificates, Bonds, Warrants, Indices, Commodities, Shares
- Free demo accounts
- Regulated by the German BaFin
- Good customer support
- Extensive material for further education
- Large variety of trading assets
- Well designed platforms
- Limited period of 2 or 4 weeks for the demo account
The subject of consideration within this article is the online broker ViTrade. According to its own statements, the company is subordinate to the FinTech Group AG, to which the discount broker flatex also belongs. According to the imprint, ViTrade is therefore also a brand of the flatex Bank AG, which is responsible for the banking services of the FinTech Group. Thus, the custody account management and administration of clients with ViTrade is accordingly carried out by the flatex Bank AG.
This is a German bank based in Frankfurt am Main, which has been in possession of a “full banking license” since 2005.The online broker offers a range of different trading instruments and services, which will be examined and presented in more detail below.
Regulation and deposit protection at ViTrade
However, before we go into the ViTrade offer in more detail, we would first like to take a brief look at the regulation and deposit protection of the online broker. Since, as already mentioned, the custody account is managed by flatex Bank AG, the regulation of this credit institution must also be considered.
Due to its German headquarters, the regulation of flatex Bank AG is ensured by the German Federal Financial Supervisory Authority (BaFin). Due to the strict requirements of the BaFin, the seriousness of the company can thus also be guaranteed. In addition to BaFin, the Online Broker is also regulated by the supervisory authorities ECB and ESMA (European Securities and Market Authority).
In the course of regulation, however, there is always the question of securing customer deposits. The Entschädigungseinrichtung Deutscher Banken GmbH (EdB) is responsible for this. This ensures that capital deposits of customers up to USD 118,475 per customer are fully protected. In the event of insolvency, ViTrade clients will therefore not be left with their deposits.
Previous awards of the online broker
In the search for a suitable online broker, it does not hurt to find out about any awards the provider may have received in the past. In this respect, the ViTrade website contains a number of awards that the online broker has won so far.
However, it must be said here that these awards are by no means current and have already been in the past for a long time. The most recent one dates from the year 2013:
- “Broker of the year 2013” – 2nd place in the segment daytrade broker by Broker-Test.de
- In the two previous years the Online Broker had even achieved the 1st place in the same test.
Apart from that, there are also some press releases of the provider on the website, but these are not very up to date either (the most recent release is from 2016).
Which tradable instruments are offered by ViTrade?
A central aspect of the evaluation of an online broker is always the range of tradable instruments offered by a provider. Basically, ViTrade offers its clients trading in securities on the one hand and trading in CFDs on the other.
In securities trading, ViTrade investors can trade both on selected stock exchanges and off-exchange via corresponding issuers.
In terms of exchange trading,
- and warrants
can be traded on all German stock exchanges as well as on XETRA and EUREX.
Many traders also prefer off-exchange issuer trading. Tradable instruments such as shares, certificates, warrants, bonds, and ETFs are available in this context from 24 different trading partners, including Deutsche Bank and Lang & Schwarz. The conditions via the trading partner Lang & Schwarz are as follows:
If you decide to trade over-the-counter, you can in principle benefit from some points. These include, for example, the extended trading hours compared to trading via exchanges with limited opening hours. And the trading itself is often cheaper, which is due to the brokerage fee and the transaction fee for stock exchange trading. In general, over-the-counter trading itself is also very convenient and fast. A list of all trading partners including the respective trading hours from Monday to Friday can be found on the ViTrade website.
In addition, ViTrade cooperates with various premium partners and can therefore offer customers more favorable conditions when trading via these partners. These premium partners include Vontobel, Morgan Stanley, J.P. Morgan, Société Générale, and UBS, which are among the largest and most important providers of warrants and certificates on the financial market. The range of products offered through these partners is very extensive, with the Online Broker enabling trading from an order volume of USD 1,185 for just USD 4.62 per order (in over-the-counter direct trading).
Trading on international stock exchanges is also possible. Investors and traders can, therefore, trade securities on 19 international stock exchanges. ViTrade offers buy & hold trading as well as cross-border trading. Last but not least, trading of futures (on Eurex) and funds are also possible with ViTrade.
In addition to trading in securities, ViTrade offers traders a wide range of CFDs. This involves the leveraged trading of financial products. Traders can already achieve large profits with low capital expenditure. Accordingly, the risks are naturally also higher.
ViTrade offers more than 600 underlying instruments for CFD trading (CFDs on
- and currencies).
ViTrade cooperates with Société Générale as market maker for CFD trading.
With the browser-based CFD platform on ViTrade, trading of a full 1,200 tradable instruments is possible to free of charge. Day traders can therefore trade CFDs quickly and efficiently via the corresponding platform.
These trading platforms are available to investors at ViTrade
After the section above has shown the different tradable instruments with which investors can trade at ViTrade, the focus will now be on the trading platforms. Here, the online broker offers some software that the provider’s clients can use to implement their trading strategies.
First, the online broker launches ViTrade WebFiliale, a trading platform designed for trading in securities. The software allows the control of all functions and tools related to the securities account.
One of the platform’s advantages is its responsive design, which can be adapted to the end device used. In addition to the common order types, the trading platform offers all necessary trading options as well as a range of useful tools.
In addition to the order book, which provides the respective trader with information about open or archived orders at any time, so-called watch lists are also integrated into the platform. Customers have the possibility to create up to five watch lists in their accounts.
The Online Broker briefly summarises the advantages of the software as follows:
- Fast and secure trading
- Responsive design
- Versatile watch lists with different stock exchanges
- Order estimate
- Guaranteed security through TouchID and FaceID
- The clarity in the management of the securities account
The HTX platform at ViTrade has been specially developed for the needs of day traders and heavy traders. It offers direct access to the stock exchange. The trading interface of the platform can be configured according to individual requirements. Tools such as professional chart analyses make it possible to act quickly on the markets.
In addition, the platform also offers an overview of “intraday and overnight short selling opportunities” for individual securities. Here too, traders can access numerous professional order types.
With the HTX mobile app, which is available free of charge, customers can also trade from anywhere and at any time via iPhone or iPad. Even within the mobile version, there are a lot of configuration options, trading is done via a secure SSL connection.
A special feature of the HTX trading platform is also the numerous features that are provided by the platform to support investors to trade successfully.
In the following the advantages of the HTX software are briefly summarized:
- Highly professional trading platform
- High-quality support from trained stock market experts
- Wide range of tradable instruments
- Trading already possible from 6.99 Dollars per order
- Intelligent order types to choose from
Guidants is an interactive analysis and investment platform that provides a variety of helpful tools such as real-time quotes, charting software, sample portfolio, real-time news, and more. The software was also developed by the makers of the well-known Godmode-Trader. What is special about Guidants is the possibility of close networking with stock market experts and other traders.
The trading interface can be set up individually according to one’s own needs and can be equipped with so-called widgets, which additionally support the trading process.
The positive features of Guidants are summarized here in brief:
- Market data in real-time (free price indicators, charting and news)
- Intelligent tools (price alerts, indicators, etc.)
- Optimal networking with experts and other traders
- Direct connection to the ViTrade Depot
- Mobile access
- Wide range of training courses offered by Guidants
CFD trading platform
ViTrade provides customers with a CFD trading platform, especially for trading CFDs. As mentioned before, over 1,200 CFDs can be traded via the browser-based software. The trading interface is intuitively designed and offers a good overview of all important functions.
Furthermore, it has a number of features:
- Pop-out function
- One-click trading
- Free real-time push courses
- Professional chart tool
- free application for mobile commerce
- Analysis Tools
- Chart Gallery
- Real-time Push Courses
The trading conditions of the Online Broker
Sometimes the most important point when choosing an online broker is the trading conditions. First of all, it should be noted that the use of the trading platform is free of charge, provided that at least 70 trades are executed per month. If this is not the case, however, costs of 58.00 Dollars plus the fees for the supply of real-time prices will be charged.
The price structures at ViTrade start at 7.05 Dollars per trade when trading securities. For the free version HTX Light or the WebTrader, the minimum fee is 11.80 Dollars and the commission rate is 0.15 percent of the respective market value.
The conditions for trading with CFDs are slightly different. No additional order fees are charged when trading CFDs on indices, commodities, precious metals, currencies and interest rate futures: The only charge is the spread. The table below shows the order fees for trading the various CFDs.
|CFDs on||Order fee|
|Indices, commodities, precious metals, currencies, interest rate futures||no order fee|
|shares||0.05%, at least USD 5.92|
|DAX futures||0.01%, at least USD 5.92|
|other index futures||0.02%, at least USD 5.92|
|Volatility indices||0.02%, at least USD 5.92|
Of course, the spreads differ depending on the trading instrument. Therefore, the spreads of the most important indices, commodities, currencies and interest rate futures should only be shown briefly.
|DOW JONES INDUSTRIAL AVERAGE 30||3.5|
|Light US crude oil||0.06|
|EUR / USD spot rate||1 pip|
|EUR BOBL 5 years||0.02|
And last but not least, the financing costs for holding both long and short positions (overnight) must also be taken into account. These are usually 3.5% + the respective currency interest rate.
Demo account with ViTrade
The ViTrade demo account is recommended for all investors and traders who want to test the offers and services of the online broker without financial risk at first. Firstly, they can familiarize themselves with the functions of the HTX software in a corresponding demo account. The HTX Light demo version can be used for a period of 4 weeks.
|HTX Light demo version||Demo account for CFD trading|
|4 weeks||2 weeks|
On the other hand, the provider also provides a demo version for trading CFDs, which can be tried out free of charge for a period of 14 days. Thereby it is possible to trade under real market conditions and with a virtual capital of 59,238 Dollars. This possibility is particularly suitable for beginners who want to get to know the chances and risks of CFD trading. However, the period of 2 weeks is somewhat tight.
The ViTrade customer service
One aspect that must not be ignored is ViTrade’s customer service. The online broker offers its customers several different ways of contacting the support department. For interested parties, customer service is available from Monday to Friday from 8:00 am to 10:00 pm, for customers from Monday to Friday from 8:00 am to 10:00 pm. There is also a corresponding contact number for customers from abroad.
|Support available:||14 hours per work day|
|Telephone:||+49 800 – 387 23 31|
Apart from this, there is also the option of raising your concerns via a ready-made contact form.
Offers for training and further education at ViTrade
At this point, we would like to briefly mention the further training courses offered by ViTrade. First, the online broker offers an academy, in which different possibilities are made available, in order to be able to train further. And also webinars, which are held by successful professional traders, are to contribute to supporting ViTrade clients in their trading.
Alternatively, there is also the option of individual training. This involves a direct conversation with a ViTrade employee, who will then deal with the relevant concern or problem. This offer is provided by the provider free of charge.
With its wide range of tradable instruments and the possibility of day trading, ViTrade should be of interest to many investors. And the trading platforms are also modern in design and easy to use, creating an ideal atmosphere for successful trading.
The regulated broker also offers its customers a range of free opportunities for further training. The trading conditions are acceptable and the customer service is reliable and competent. For all interested investors who are currently looking for a suitable online broker, ViTrade, therefore, proves to be a possible alternative in any case.
Most asked questions:
Which assets can you trade with ViTrade?
Apart from trading foreign currencies (Forex), there is an extensive range of CFD trading services available such as with indices or commodities. Furthermore trading on the stock exchange involves for example shares, certificates, ETFs, and ETCs as well as bonds.
Is ViTrade a regulated broker?
Yes. This online broker is regulated by the strict guidelines of the German BaFin and can therefore be considered very trustworthy.
Does ViTrade offer a free demo account?
In fact, the broker provides interested traders with two possibilities to use a demo account free of charge. The HTX Light demo version can be accessed for a period of 4 weeks and the demo account for CFD trading is available for 2 weeks.
What further education does ViTrade offer?
You can either train using the online academy of this online broker or participate in webinars held by successful professional traders. Additionally you can receive an individual training with a ViTrade employee free of charge.