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VivoTrader
Rating: Rated with 1 star
Binary Option Programs Award
Min. Deposit
€500
Min. Investment
N/A
Regulated Broker
No

VivoTrader Broker Review

  1. VivoTrader is an unlicensed cryptocurrency broker based in Estonia.

    Like most brokers, they offer several account types, a user-friendly platform and an extensive education center. Our team likes to look beyond the surface though, and give you all the necessary details and information on whether you should trust this broker or not. You are investing your money after all. Read our full review and verdict below.

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    The 6 Account Types

    Similar to most online brokers, VivoTrader has several accounts available for South African investors to choose from based on their initial deposit. Of course, the higher the deposit, the more extra features. The minimum deposit to begin trading with VivoTrader is €500.

    Unfortunately, VivoTrader does not offer any demo account, which is a perfect solution for complete beginners to practice their trades risk-free.

    Details of all six accounts are given below.

    Basic Account –> €500 Minimum Deposit

    • 24/6 customer support
    • Education Center
    • Daily market review
    • Pro webinars

    Bronze Account–> €1,000 Minimum Deposit

    • 24/6 customer support
    • Education Center
    • Daily market review
    • Pro webinars
    • Junior price alerts (+)

    Silver Account –> €5,000 Minimum Deposit

    • 24/6 customer support
    • Education Center
    • Daily market review
    • Pro webinars
    • Junior price alerts
    • Account manager (+)
    • PIA trading signals (+)

    Gold Account –> €20,000 Minimum Deposit

    • 24/6 customer support
    • Education Center
    • Daily market review
    • Pro webinars
    • Junior price alerts
    • Account manager
    • PIA trading signals
    • PIA SMS signals (+)

    Platinum Account –> €50,000 Minimum Deposit

    • 24/6 customer support
    • Education Center
    • Daily market review
    • Pro webinars
    • Junior price alerts
    • Account manager
    • PIA trading signals
    • PIA SMS signals
    • Personalized trading strategy (+)
    • 1-on-1 trading trainer (+)
    • Exclusive position access (+)
    • Choose a plan (+)

    Black Account –> For Top Investors (No Minimum Deposit Given)

    This account is offered for top investors only. VivoTrader gives no minimum deposit but advises South African traders to contact their account manager for further details.

    Trading Platform & Assets

    VivoTrader offers South African investors the CFD platform Tradersoft to trade. This is a web-based platform that allows trading in all major markets like forex, cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple), stocks, commodities and indices. On their website though, VivoTrader mostly focuses on cryptocurrencies, since they know Bitcoin and Ethereum may be more recognizable for South Africans.

    At the time of this review, the spread for BTC/USD was as wide as €85.

    VivoTrader also has a mobile platform available, which can be downloaded on both Android and IOS devices for easy trading on-the-go anytime and anywhere you may be.

    It is regrettable that VivoTrade does not offer the classic MetaTrader4 (MT4) platform that most South African investors are used to. MT4 is the most powerful and advanced trading platform with a lot of extra features many South African traders look for.

    If you are a complete beginner in trading, Tradersoft will also do due to its simple and user-friendly interface.

    Education Center

    A good education center is essential for every broker, because before investing any real money in trading, South African users must be fully aware of the process, basic terms and most importantly, the risks involved.

    VivoTrader appears to have an extensive education center available, with videos, charts, news and reviews. However, at the time of this review, none of these options were working. This begs the question whether they really do have this educational material available, or whether they just want to appear like they do.

    The only option available from their so-called “education academy” was an asset index, a technical analysis and a short beginner’s guide to forex and CFDS. There were no videos, daily market news, economic calendar, market summary or even chart analysis – as they claimed.

    This is the first red flag we found when it came to VivoTrader, as it is never advisable to advertise features you don’t have.

    Customer Support

    The customer support team at VivoTrader is available through phone, email or the contact form on their website. There is no live chat available, which is an extremely helpful feature adopted by many brokers. It addresses South African customer’s inquiries fast and quick, without having to go through the hassle of sending an email without knowing when you will get a reply.

    Payment Methods

    VivoTrader is owned and operated by the company Bravos OU in Estonia. The payment methods they accept are credit card (Visa, Mastercard) and wire transfer.

    However, South African investors are not advised to deposit any money with this broker.

    Verdict: Is VivoTrader a Scam?

    After careful review of this broker, we can confidently say that we have come to the conclusion that VivoTrader is not a trustworthy broker and South African traders should not invest their money with them. They are not licensed under any regulatory agency, which is the first red flag, do not offer the features they advertise and lack transparency overall. Their website does not offer basic information, but rather comes across as rather vague – which is never a good sign.

    Reputable companies always provide all the necessary information up-front and are fully transparent when it comes to their procedures.

    We would recommend South African investors trade with a regulated and award-winning broker that is always fully transparent with their procedures, like IQ Option!

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