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Veracity Markets Account Types

Veracity Markets Account Types Review

 

Veracity Markets provides 3 different main live trading account types the Standard account, Fixed account, and ECN account. Veracity Markets also offers an Islamic Swap-free option as well as a demo account.

 

Veracity Markets account types at a glance

🔎 Account Features🥇 Standard account🥈 Fixed account🥉 ECN account🥇 Demo account
💰 Minimum deposit$250$250$250No minimum deposit
📈 SpreadsFloating from 2 pipsFloating from 1.6 pipsFloating from 0.00 pipsFloating from 0.6 pips
📊 Commission$0$0$7 lot Only FX & Metals*$0
📈 Leverage1: 5001: 5001: 5001: 500
📊 Order Volume (lots0.01 - 250 (lot)0.01 - 250 (lot)0.01 - 250 (lot)0.01 - 500 (lot)
📲 PlatformsMT4MT4MT4MT4
📈 Maximum open positionsUnlimitedUnlimitedUnlimited200
🔥 Expert AdvisersYesYesYesYes
☪️ Islamic swap-free accountYesYesNoNo

 

Overall Rating

4.6/5

Rated #497 of 
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

FSCA

📱 Trading Desk

MT4, MT5

Crypto

No

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Veracity Markets Review- 7 Key Point Overview

  1. ✔️Veracity Markets account types at a glance

 

Veracity Markets account features

 

Veracity Markets offer a choice between three live account types, namely standard, fixed, and an ECN account. An Islamic swap-free account option is offered in addition, it also offers a demo account. The features of the accounts are as follows:

 

Veracity Markets standard account

💰Minimum deposit$250
📈 SpreadsFloating from 1.6 pips
💰 Commission$0
📉 Leverage1:500
📉 Order volume (lots)0.01 - 250 (lot)
📈 PlatformsMT4
💻 Expert advisersYes
📊 Maximum open positionsUnlimited
📈 ExecutionMarket
☪️ Swap freeYes

 

This account has an Islamic swap-free option, the minimum deposit required is $250, the minimum spread is 1.6 pips

 

  • Minimum deposit: $250
  • Spreads: Floating from 1.6 pips
  • Commission: $0
  • Leverage: 1: 500
  • Order Volume (lots): 0.01 – 250 (lot)
  • Trading platform: MT4
  • Advisers: Yes
  • Maximum open positions: Unlimited
  • Execution: Market
  • Islamic / swap-free account: Yes

 

Veracity Markets Standard account

 

Veracity Markets fixed account

💰Minimum deposit$250
📈 SpreadsFloating from 2 pips
💰 Commission$0
📉 Leverage1:500
📉 Order volume (lots)0.01 - 250 (lot)
📈 PlatformsMT4
💻 Expert advisersYes
📊 Maximum open positionsUnlimited
📈 ExecutionMarket
☪️ Swap freeYes

 

This account has an Islamic swap-free option, the minimum deposit required is $250, the minimum spread is 2 pips

 

  • Minimum deposit: $250
  • Spreads: Floating from 2 pips
  • Commission: $0
  • Leverage: 1: 500
  • Order Volume (lots): 0.01 – 250 (lot)
  • Trading platform: MT4
  • Advisers: Yes
  • Maximum open positions: Unlimited
  • Execution: Market
  • Islamic / swap-free account: Yes

 

 

Veracity Markets Fixed account

 

Veracity Markets ECN account

💰Minimum deposit$250
📈 SpreadsFloating from 0.00 pips
💰 Commission$7 Lot only on FX and Metals
📉 Leverage1:500
📉 Order volume (lots)0.01 - 250 (lot)
📈 PlatformsMT4
💻 Expert advisersYes
📊 Maximum open positionsUnlimited
📈 ExecutionMarket
☪️ Swap freeNo

 

This account does not have an Islamic swap-free option, the minimum deposit required is $250, the minimum spread is 0.00 pips

 

  • Minimum deposit: $250
  • Spreads: Floating from 0.00 pips
  • Commission: $7 Lot only on FX and Metals
  • Leverage: 1: 500
  • Order Volume (lots): 0.01 – 250 (lot)
  • Trading platform: MT4
  • Advisers: Yes
  • Maximum open positions: Unlimited
  • Execution: Market
  • Islamic / swap-free account: No

 

Veracity Markets ECN account

 

Veracity Markets demo account

💰Minimum depositNo minimum deposit
📈 SpreadsFloating from 0.6 pips
💰 Commission$0
📉 Leverage1:500
📉 Order volume (lots)0.01 - 500 (lot)
📈 PlatformsMT4
💻 Expert advisersYes
📊 Maximum open positions200
📈 ExecutionSTP
☪️ Swap freeNo

 

This account does not have an Islamic swap-free option, the minimum deposit required is $0, the minimum spread is 0.00 pips

 

  • Minimum deposit: No minimum deposit
  • Spreads: Floating from 0.6 pips
  • Commission: $0
  • Leverage: 1: 500
  • Order Volume (lots): 0.01 – 500 (lot)
  • Trading platform: MT4
  • Advisers: Yes
  • Maximum open positions: 200
  • Execution: STP
  • Islamic / swap-free account: No

 

Veracity Markets demo account

 

Veracity Markets Islamic swap-free account

 

Veracity Markets offers Islamic swap-free trading on 2 trading accounts levels standard account and fixed account. Clients need to provide a document from their Imam or local Muslim council or mosque indicating that they are of the Islamic faith.

 

Veracity Markets Pros and Cons

✔️ Pros❌ Cons
Charges no deposit or withdrawal feesClients from the United Kingdom, Australia, Belgium, France, Iran, Japan, North Korea, and the USA not accepted
Commission-free trading offered on the Standard and Fixed account typesFixed spread accounts not offered
Many base currencies to choose fromSpreads offered are not tight
MetaTrader4 and MetaTrader5 offeredTrading instruments are limited
Offers a demo account
Offers services in multiple languages
Regulated through FSCA
Segregated client funds used
Variety of payment methods

 

Veracity Markets at a glance

Broker’s nameVeracity Markets
🏛️HeadquartersCape Town, South Africa
📅Year founded2020
⚖️Regulating authoritiesFSCA
🗺️Countries not accepted for tradeUK, Australia, Belgium, France, Iran, Japan, North Korea, and the USA
📒Demo accountYes
☪️Islamic account (swap-free)Yes
✴️Institutional accountsNo
👨🏼‍💼Managed accountsNo
🔣 Maximum leverage1:500
💰Minimum deposit$250
➕Deposit optionsLocal deposits
Debit cards
Credit cards
Instant eft
Ozow
Neteller
Skrill
➖Withdrawal optionsLocal deposits
Debit cards
Credit cards
Instant eft
Ozow
Neteller
Skrill
📊Platform(s) providedMT4, MT5
📶OS compatibilityPC, Mac, Android, and IOS devices
🛍️Tradable assets offeredForex pairs
Online instruments
Indices
Commodities
Metals
Shares
💬Languages supported on the websiteEnglish as well as multiple other languages
💬Customer support languagesEnglish as well as multiple other languages
⏲️Customer service hours24/7

 

Conclusion

 

Veracity Markets is an STP, and ECN broker based in South Africa. The broker’s focus is on traders from African countries, but it does accept clients from all around the world.

Veracity Markets has been in operation since 2020 and has headquarters in Cape Town, South Africa. The broker offers trading in more than 250 instruments such as forex pairs, indices, commodities, shares, and online trading.

Traders have the option of three live account types to choose from as well as a demo account for beginner traders as well as the more advanced trader who wants to see what the broker has to offer.

Trading is offered on the popular MetaTrader4 and MetaTrader5 which is available for PC and Mac as well as all Android and iOS devices.

Veracity Markets is a regulated financial service provider in South Africa, attaining their license and following the regulations of the Financial Sector Conduct Authority in South Africa (FSCA). The Financial Sector Conduct Authority in South Africa is the highest financial regulator in Africa that supervises all non-banking financial services, including brokerage firms.

One of the requirements is that client funds be kept in segregated accounts. The broker also offers negative balance protection to its traders. This means that this Forex trading broker values the protection and the safety of client funds and personal information.

Customers from the United Kingdom, Australia, Belgium, France, Iran, Japan, North Korea are not accepted as clients at Veracity Markets.

 

You might also like: Veracity Markets Review

You might also like: Veracity Markets Demo Account – Step by Step

You might also like: Veracity Markets Fees and Spreads

You might also like: Veracity Markets Islamic Account Overview

You might also like: Veracity Markets Minimum Deposit

You might also like: Veracity Markets Sign up Bonus

 

Frequently asked questions

 

Trading environment

 

How many instruments can I trade with Veracity Markets?

You can trade the following financial instruments:

  • Forex pairs
  • Online instruments
  • Indices
  • Commodities
  • Metals
  • Shares

 

Which platforms are supported by Veracity Markets?

MetaTrader4 and MetaTrader5.

 

Does Veracity Markets offer leverage?

Yes. Leverage of up to 1: 500.

 

What spreads can I expect with Veracity Markets?

Veracity Markets offer floating spreads that start from 0 pips on the ECN account. On the Standard Account, spreads start from 1.6 pips, and the Fixed Account offers spreads that start from 2.0 pips.

 

Does Veracity Markets charge commission?

No. Veracity Markets offers commission-free trading. However, with the ECN Account, you will be charged a standard of $ 7 per lot when trading with Forex and Metals.

 

Are there additional charges on the Islamic account?

The broker does not offer the option of opening an Islamic Account for traders who follow the Muslim faith.

 

Is Veracity Markets regulated?

Yes. Veracity Markets is regulated by FSCA.

 

Is Veracity Markets a recommended forex trading broker for experts and beginners?

Yes. Veracity Markets offers a trading environment for both beginners and expert traders.

 

What is the overall rating out of 10 for Veracity Markets?

6/10.

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform.

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

 

Does Veracity Markets offer a demo account?

Yes. The broker does offer a demo account that has the same features as the live account.

 

For how long is the demo account valid?

The demo account is valid for as long as needed – there is no time limit.

 

Does Veracity Markets offer the option of an Islamic Account?

No. Veracity Markets does not offer the option of an Islamic Account for traders of the Muslim faith.

 

Which live trading accounts does Veracity Markets offer?

Veracity Markets offers three live trading accounts namely Standard, Fixed and ECN accounts.

 

What are the available deposit currencies for a live trading account?

USD, EUR, GBP, AUD, NZD, CHF, XAU, XAG, ZAR, JPY, CAD, and NOK.

 

Deposits and withdrawals

 

What is the minimum deposit for Veracity Markets?

$ 250.

 

How do I make a deposit and withdrawal with Veracity Markets?

  • Local deposits/transfer options offered by banks such as ABSA bank, Investec, Nedbank, Standard Bank, Capitec, FNB, TymeBank and African Bank.
  • Debit cards
  • Credit cards
  • Instant EFT
  • OZOW
  • Neteller

 

Does Veracity Markets charge withdrawal fees?

No. Veracity Markets does not charge any withdrawal fees. Traders may be subjected to transaction fees that are charged by their bank.

 

How long does it take to make a withdrawal?

Withdrawing funds from your Veracity Markets account is easy and quick. Withdrawal is processed, Monday to Friday from 9 am to 5 pm, GMT +2 (South African Standard Time). All request is processed within 24 – 48 hours.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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