RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Are we to understand that FiatVisions is a broker that promises any sort of profit? Well, judging by the website, it seems likely so. On closer inspection, everything about this one seems to check out. Although, there are some nuisances that weigh it down.
Unfortunately, we were not able to create an account. The reason for this is a classic one- after we had completed the process the broker’s website produced an error page. Our email was also empty, i.e we had not received a confirmation from the broker. This means that we have to rely on the website for all the trading and payment details.
But not to worry though. FiatVisions is legit, and thus there shouldn’t be an issue with the info on the website. What made us slightly anxious was that there was no option to open a demo account. In this day and age, demo account, in our view, are essential to any broker.
Without further ado, let’s see what we found out. The website reveals that the users can trade with forex currency pairs, global stocks, both hard and soft commodities, and equity indices. We are disappointed that there are no crypto coins, which have become a very popular product; their lack is surely to discourage users from using FiatVisions.
The leverage cap was difficult to find, but in the end, we were able to trace the info. The maximum leverage a user can use is 1:400.
Unfortunately, the same thing cannot be said of the spread. For some reason, the company has left the average spread values a mystery. Some brokers do this, although we do not know why. Perhaps, the spreads are a little too high for some clients’ taste? We cannot know for sure.
The website, for now, seems to be available only to English speakers.
FIATVISIONS REGULATION AND SAFETY OF FUNDS
Green Point Technology Ltd, the parent firm behind FiatVisions, is fully regulated by the Financial Service Commission (FSC) in Mauritius. We went to the regulator’s website and were able to confirm the license:
Although, the broker is regulated users should not forget that Mauritius is, nevertheless, an offshore location. And as such, there is a certain freedom imposed by these offshore regulators, freedom that is applied to both the user and broker. Certain practices might get overlooked, for example, the lack of spread information or demo account here, while others might be introduced that may be frowned upon by non-offshore overseers. It is imperative to consider this when dealing with regulated offshore brokers.
FIATVISIONS TRADING SOFTWARE
The brokerage claims to offer a proprietary trading software, but without being able to create an account, we cannot analyze it and give you our two cent on it.
However, seeing that the broker is, after all, regulated, we cannot allow ourselves to doubt the existence of a trading office.
FIATVISIONS DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit is indicated as being $5000, which is very suspicious and very scammer broker-like. It’s in the minimum deposit requirement that the offshore nature of FiatVisions is best expressed. This requirement immediately changes the user base of FiatVisions. Now, we suppose that the broker aims to attract bigger fish.
We had to connect bits and pieces from the legal documents to get a hold of the payment methods: wire transfer, card transfers, and undisclosed alternative payment methods.
The refund policy is very clear on one thing: that the brokerage does not charge any fees for financial transactions. The policy hints at the withdrawal processing times: some 7 days tops.
The minimum withdrawal is $50.
In conclusion, FiatVisions is worth a try, but please bear in mind the negatives, for they might cost you deraly.