deposit:
- $250
Trading platform:
- MT4
- MT5
- FSCA
Attention!
This brokerage company is on the Blacklist. Working with companies on the Blacklist carries high risks of losing your money. We continuously monitor the Internet in order to identify new scams aimed at defrauding traders, and categorically do not recommend working with companies on the Blacklist.
We advise traders to choose reliable and trustworthy licensed companies from among top brokers of our rating:
Summary of Veracity Markets Trading Company
Veracity Markets is an STP and ECN broker, which has been providing online access to trading Forex and CFD instruments since 2020. The broker’s focus is the traders from African countries, although the company accepts clients from all around the world. The broker offers 250+ instruments for trading, a wide selection of accounts, 24h support and the most popular trading platforms MT4 and MT5. The operation of Veracity Markets is regulated by the Financial Sector Conduct Authority (FSCA, 49924).
👍 Advantages of trading with Veracity Markets:
- A huge selection of trading accounts for retail and professional traders.
- No re-quotes; operation without a dealing center with direct prices of the liquidity providers.
- Desktop and mobile versions of the trading platforms MetaTrader 4 и MetaTrader 5.
- High leverage – 1:500 on all account types.
- 24-hour support via Live Chat on the website and in the Personal Account.
- A possibility to withdraw funds to popular electronic wallets Bitcoin, Skrill and Neteller.
- Clients’ deposits are kept in segregated accounts at major banks.
👎 Disadvantages of Veracity Markets:
- Not very attractive conditions for novice traders: minimum deposit is $250 and the spreads are high – from 1.6 to 2 pips on a tranquil market.
- There is no educational information, video tutorials, or a glossary on the broker’s website.
- The company does not provide analytics, research instruments and news.
Geographic Distribution of Veracity Markets Traders
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Investment Programs, Available Markets and Products of the Broker
Veracity Markets does not offer its own investment options, but its clients can use all available passive income features offered by MT4 and MT5. The company allows traders to use Expert Advisors, copy signals from MQL5.com or provide signals. Also, for additional profit, clients can connect to MAM service and participate in partnership programs that offer different types of rewards.
Multi-Account Manager — a passive income service
Multi-Account Manager or MAM allows managers to execute trades on an unlimited number of connected sub-accounts. At that, the funds of the manager and investors are separated and the manager does not have access to the deposits of the subscribers. The main features of MAM service include:
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An investor can monitor trades and profit in real time mode.
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There is no account servicing fee for MAM accounts. Investors connect to the system for free.
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Several types of distribution are available: Balance, Lot, Percentage or Equity.
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An unlimited number of investors can connect to the manager’s account.
After a trader chooses the manager and connects to his/her account, all trades executed on it are mirrored on the sub-accounts of subscribers. If the manager executes a successful trade, both parties win: an investor earns profit without trading on their own and the manager earns a part of profit of the subscribers, thus increasing his/her total profit.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Veracity Markets’ affiliate program
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Introducing Brokers is a program for companies, who want to provide brokerage services under the Veracity Markets brand and earn money for every trade executed by the client. The broker offers IB three types of rewards: CPA, Revenues Share (Trade Rebates) and Hybrid Deals.
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White Label is an offer for small and large brokerage companies that can use technological developments of Veracity Markets in their operation in the Forex market. In addition to the MT4 platform, White Label offers products and services of a more popular company tailored to your brand.
Veracity Markets partnership programs are designed for institutional clients – companies and brokerage firms. Retail traders currently do not have an opportunity to earn some extra profit from referring new clients.
Trading Conditions for Veracity Markets Users
Veracity Markets provides access to trading 250+ financial instruments with dynamic leverage. Traders can use MetaTrader 4/5 trading platforms, open STP and ECN accounts in 4 currencies, deposit and withdraw funds via a wire transfer or electronic payment systems. The broker also provides demo accounts and Islamic accounts (Swap free).
$250
Minimum
deposit
1:500
Leverage
24/7
Support
| 💻 Trading platform: | МТ4 (Desktop, Mobile), МТ5 (Desktop, Mobile) |
|---|---|
| 📊 Accounts: | Demo, Standard Cent МТ4, Standard МТ4, Standard МТ5, Fixed MT4, Fixed MT5, ECN MT4, ECN MT5, Islamic Swap Free |
| 💰 Account currency: | USD, GBP, ZAR, KWD |
| 💵 Replenishment / Withdrawal: | Ozow (only for traders from South Africa), Bank/Wire Transfer, Skrill, Neteller, Bitcoin |
| 🚀 Minimum deposit: | USD 250 |
| ⚖️ Leverage: | from 1:100 to 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | from 2 pips (Fixed), from 1.6 pips (Standard and Standard Cent), from 0.0 pips (ECN) |
| 🔧 Instruments: | Currency pairs, CFDs on precious metals, commodities, indices, futures, stocks, cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100-150%/30-75% |
| 🏛 Liquidity provider: | 22 banks |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market Execution, Stop Loss, Limit Orders |
| ⭐ Trading features: | Dynamic leverage, cryptocurrency trading is available, cent accounts |
| 🎁 Contests and bonuses: | No |
Veracity Markets Commissions & Fees
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard Cent | From $0.2 | Charged on withdrawals to Skrill and Neteller |
| Standard | From $16 | Charged on withdrawals to Skrill and Neteller |
| Fixed | From $20 | Charged on withdrawals to Skrill and Neteller |
| ECN | From $0 | Charged on withdrawals to Skrill and Neteller |
There are swaps (commission for position rollover to the following day).
The table below shows the results of comparison of average spread of three Forex brokers: Veracity Markets, RoboForex and FxPro. TU analysts assigned a corresponding level of commissions to each broker: from low to high.
| Broker | Average commission | Level |
| Veracity Markets | $9 | High |
| RoboForex | $1 | Low |
| Pocket Option | $8.5 | Medium |
Detailed Review of Veracity Markets
Veracity Markets is a South African broker offering its clients a wide choice of assets for trading. Traders can trade 38 currency pairs (majors, crosses, exotics), CFD on 150 stocks, precious metals (gold, silver, platinum and copper), commodities and cryptocurrencies with dynamic leverage. The broker offers access to trading nine most popular stock indices, for example NASDAQ 100, USA 500 and France 40. Veracity Markets allows automated trading, use of scalping strategies and hedging of positions.
Veracity Markets in figures:
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250+ trading instruments.
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Website in 50 languages.
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8 live account types.
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10 types of demo accounts.
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4 account currencies.
Veracity Markets is an ECN broker with liquidity guarantee from top providers
Veracity Markets does not have a dealing center that sets its own prices. The company is an ECN broker, which means that its clients trade at the prices received from liquidity providers. Electronic pricing system of Veracity Markets allows the broker to update quotes for each financial instrument three times per second, which provides traders with the best prices in the global online trading market. The company strives to ensure the best execution, which is why almost 99.4% of all orders are executed in less than one second, and the re-quotes are non-existent.
Veracity Markets offers its clients universal and familiar to many Forex traders platforms MT4 and MT5. Web platforms are not available, although the trades can be executed not only on desktop platforms, but also in mobile applications. In addition to Market Orders, the broker executes Stop Loss and Limit Orders with the volume of up to 50 lots and at the best market price.
Useful services by Veracity Markets:
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Trading Schedule. Up-to-date trading schedule during official holidays. It is shown in the FAQ section on the website.
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Economic Calendar. Schedule of important economic events and news expected during the following trading sessions. It can be found in the trader’s Personal Account.
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FAQ. A section with answers to the questions about the broker’s trading conditions: accounts, platforms, rules of verification, deposit and withdrawal.
Advantages:
The broker operates under the strict control of the Financial Sector Conduct Authority (FSCA), the state regulator of South Africa.
Passive investors and successful account managers can earn additional income using the Multi Account Manager (MAM) service.
Registration on the website and opening of a trading account are fully digitized and take not more than 10 minutes.
The period of use of any demo account is unlimited, and therefore traders can use it for as long as they want.
The broker allows automated trading, hedging and scalping.
The clients can earn passive income for participation in partnership programs.
The company offers several methods of contacting customer support, including an online chat.
Clients from Muslim countries can open Islamic accounts and trade Swap free.
How to Start Making Profits — Guide for Traders
Veracity Markets offers a wide diversity of trading accounts for traders with any level of skill. The general conditions for all account types are as follows: minimum deposit - $250, leverage – from 1:100 to 1:500, type of execution – Market Execution, type of spread – floating.
Account types:
The broker provides a demo version of each live account. The clients can also open Demo Fixed Swap Free, demo accounts that have the same conditions as the Islamic accounts.
Veracity Markets is an STP and ECN broker for both the beginners and professional traders who prefer active trading.
Bonuses Paid by the Broker
At the moment, Veracity Markets does not have any bonus offers. However, from time to time, the company has special offers, discounts and bonuses.
Investment Education Online
There is no Education section with materials on FX and CFD trading on the Veracity Markets website. There is some useful educational information in the Trading Instruments section, but it is not enough for in-depth learning of trading basics.
Clients of the brokers will have to search for educational materials elsewhere. However, they can test their theoretical knowledge in real life using the broker’s demo accounts (without financial risks) and cent accounts (with minimum financial risks).
Security (Protection for Investors)
Veracity Markets is a brand of Veracity Markets (Pty) Ltd., incorporated in South Africa with registration number 2018/515174/07.
It is a juristic representative of Nirvesh Financial Services (Pty) Ltd with registration number 2014/214417/07, which is a financial services provider (FSP4701), regulated by the Financial Sector Conduct Authority (FSCA). FSCA strictly controls observance of the Financial Advisory and Intermediary Services Act of 2002 by the company.
👍 Advantages
- The broker holds the deposits of the clients on segregated accounts at the banks, not inside the company
- Negative balance protection
- The regulator regularly performs financial audit of the brokers under its control
👎 Disadvantages
- The regulator prohibits the company to accept payments from third parties
- You must pass verification in order to fund a trading account
- Deposit and withdrawal with cards is not available
Withdrawal Options and Fees
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All clients of the company can withdraw funds using a Bank/Wire Transfer, Skrill, Neteller and Bitcoin. South Africa residents can also use Ozow payment system. Withdrawal to debit/credit cards is not available.
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All withdrawal requests are processed by the financial department from Monday to Friday, from 9:00 until 17:00 (GMT+2); the requests are processed within 24-48 hours.
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Withdrawal to an account at a South African bank takes up to two days, to Skrill and Neteller – several minutes. All international bank money transfer transactions are performed within 7 days.
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Veracity Markets does not charge a withdrawal fee on withdrawals to a local bank. However, the broker charges 2% fee on withdrawals via Skrill and Neteller.
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The transfers are performed in the currency of the account specified in the withdrawal request. Therefore, money can be withdrawn in USD, GBP, ZAR or KWD.
Customer Support Service
The company provides potential and actual clients with 24-hour customer support on any day of the week via an online chat. Support by email is available 24/5.
👍 Advantages
- Online chat operators respond within 1-3 minutes.
- Customer support is available 24h
👎 Disadvantages
- Response of specialists do not contain specific information
- No call back option
- No international contact number for clients living outside of South Africa
There are several ways to contact customer support:
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Write a message in the online chat on the company’s website;
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Send an email to help@veracitymarkets.com;
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Call a phone number in the Contact section;
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Write a message to the company on its Facebook, Twitter, Instagram;
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Fill out a feedback form by email.
You can write a message in the online chat on the broker’s website (even without registration) and in the client’s Personal Account.
Contacts
| Foundation date | 2014 |
| Registration address | Veracity Markets (Pty) Ltd., 80 Strand Street, Cape Town, 8000, South Africa |
| Regulation |
FSCA |
| Official site | https://veracitymarkets.com/ |
| Contacts |
Email:
help@veracitymarkets.com,
Phone: +27 (0) 87 012 5545 |
Review of the Personal Cabinet of Veracity Markets
A Personal Account is required for opening a trading account and managing it. The client also needs it to pass verification and download trading platforms. Here is a short guide to creating your Personal Account:
Visit the broker’s official website, as the Personal Account is created there. On the Home page click on Start Trading.
A registration form will open. Fill it out: provide your first name, surname, date of birth, phone number, country of residence and email. Please, carefully read the documents provided by the company.
Once you click on Continue, the system will send a PIN to the specified email. Enter it in the next window that will appear on the website.
Now you have a Personal Account. To access it, enter your email and the password the company sent to your email.
In order to start trading, you will need to complete the following steps in your Personal Account:
1. Open a live trading account:
2. Pass verification:
3. Make a deposit:
4. Download a trading platform:
1. Open a live trading account:
2. Pass verification:
3. Make a deposit:
4. Download a trading platform:
In the Personal Account, the broker’s clients can also:
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Open additional trading accounts or demo accounts.
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View information on active accounts: leverage, balance, available funds and margin.
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Form transaction history.
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Transfer funds between your own accounts.
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Activate two-factor authentication.
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View economic calendar.
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Contact customer support via online chat.
We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.
Find out how Veracity Markets stacks up against other brokers.
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FAQs
Why has Veracity Markets been placed on the Forex Broker Blacklist?
Possible reasons:
• multiple complaints have been filed against Veracity Markets by traders claiming the broker failed to fulfil its obligations, including process withdrawals;
• the website of Veracity Markets is down, not updated or operates with clear errors and some features are not available;
• Veracity Markets has been blacklisted by the regulatory authority, and a warning has been published on the regulator’s website.
What should I do if Veracity Markets got blacklisted and I still have money in my account?
Don’t panic right away. First, try to find out the reason why Veracity Markets got blacklisted. The situation may be temporary. Contact Traders Union client service for details. If the situation is critical, try to withdraw money. The best way to do it in parts, so that the broker does not suspect that you want to withdraw your entire balance and close the account.
What should I do if I cannot withdraw my money from Veracity Markets?
If your broker refuses to process withdrawals under various pretexts, your algorithm of actions is as follows:
• Get a clear response from the broker’s Support Service with reference to the clauses of the Terms of Use (User Agreement). Save your correspondence and download the transaction history from your account.
• With a full package of documents, appeal to the following organizations: the broker’s regulator or corresponding law enforcement agencies. If you make your deposit with a bank transfer, try to initiate a chargeback request.
• Share your situation on traders’ forums, add the broker to blacklists of various websites, as it will help others avoid the mistake.
Is there any chance to recover my money if Veracity Markets is a scam?
On rare occasions, yes, for example, if the broker was a member of a compensation fund, or upon a court’s ruling.
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