Abstract：Vittaverse, a Seychelles-based brokerage firm, faces multiple complaints from users concerning the alleged deletion of profits on the trading platform. The reason attributed to alleged profit deletions is latency trading or arbitrage trading, according to the broker. However, traders repeatedly denied it, saying they exercised normal risk management techniques. In this Vittaverse review, we have examined several user-reported allegations. Additionally, the article explains the broker's regulatory status.
Vittaverse, a Seychelles-based brokerage firm, faces multiple complaints from users concerning the alleged deletion of profits on the trading platform. The reason attributed to alleged profit deletions is latency trading or arbitrage trading, according to the broker. However, traders repeatedly denied it, saying they exercised normal risk management techniques. In this Vittaverse review, we have examined several user-reported allegations. Additionally, the article explains the broker's regulatory status.
VITTAVERSE claims to be a multi-asset brokerage service provider across forex, stocks, indices, cryptocurrencies, metals and energy.
Some forex pairs available on the platform include AUD/CAD, AUD/CHF, CAD/JPY, EUR/AUD, EUR/CHF, GBP/AUD, AUD/NOK, etc.
Stocks available on the platform include Apple, Amazon, Google, IBM, Lenovo, etc.
You can trade indices such as Australia 200, Germany 40, Dow Jones Industrial Average, Euro Stoxx 50, France 40, UK 100 FTSE, etc.
Energy traders can invest in Brent crude, WTI crude and Natural Gas through the VITTAVERSE platform.
Cryptocurrencies tradable on the platform include Aave, Cardano, Algorand, Ankr, etc.
VITTAVERSE offers a wide range of trading accounts designed to suit unique preferences - Standard, ECN Pro and VIP. The table below shows key details, such as the minimum deposit, commission, leverage and spread, associated with each account.
| Account Type | Minimum Deposit | Minimum Spread | Maximum Leverage | Commission |
| Standard | $1 | 0.5 Pips | 1:2000 | Zero |
| ECN Pro | $100 | 0.1 Pips | 1:2000 | Starts from $4 per lot |
| VIP | $12,000 | 0 Pips | 1:500 | Zero |
Both Standard and ECN Pro can cater to all types of traders with a fairly low minimum deposit. Spreads are kept low across accounts. The leverage offered is as high as 1:2000 across Standard and ECN Pro accounts and 1:500 in the VIP account. Such leverage can help you widen your market position by paying a low margin. However, in a volatile market, it is recommended you avoid an overleveraged account to prevent a potential wipeout of your balance.
Traders from Iran and Italy accused the broker of deleting their legitimate profits on the VITTAVERSE login dashboard.
The Iranian trader disclosed that the broker withheld profits worth $889.98 using a fake latency arbitrage claim. According to the complaint, the client already filed a formal regulatory process with FSC Mauritius. The trader asserted that this demonstrates the alleged failure of the broker to comply with basic financial regulations. Demanding an immediate release of funds, the trader reportedly threatened to strict action against the brokerage firm.
The Italian trader, on the other hand, claimed that no evidence (timestamps, trades, execution details or technical analysis) was provided by the broker to support its latency trading claim for the profit deletion.
After a reportedly bad response to their queries, the two traders shared their respective bad VITTAVERSE reviews online.
A trader from Germany claimed to have deposited USD 5,101 and earned profits worth USD 2,272 into the VITTAVERSE platform. However, the broker allegedly cancelled the profit, claiming latency arbitrage and promotional misuse. In defense, the trader reportedly hit back by refusing to have received or used any bonus, promotional credit, cashback or promotional campaign from the broker. VITTAVERSE allegedly failed to provide any explanation to the number of trades that violated the broker's terms and conditions, the breach of a specific clause, any execution log or technical evidence supporting its claim. Look at the complaint below to know more about the alleged incident.
A Pakistan-based user claimed profit deletion on the platform amid the broker'a allegation of trading abuse. The user disclosed having used normal risk management techniques, such as stop-loss and take-profit. Further, the trader accused the broker of failing to provide valid evidence supporting a violation of the terms and conditions. This VITTAVERSE review on WikiFX, a trusted tool for forex broker regulation investigation, claims alleged wrongdoings by the broker.
A user from the United States reportedly traded and earned profits on the VITTAVERSE platform. Subsequently, the user requested a partial withdrawal from the profits. However, the broker allegedly denied the withdrawal request, citing a system upgrade associated with its cryptocurrency payment provider as a reason. The user was reportedly instructed to share another withdrawal request using another cryptocurrency provider. However, that request, too, was rejected, and his funds were transferred to the trading account, not to the wallet. The concerning allegation was that the user found it difficult to transfer funds from the trading account to the wallet to submit a fresh withdrawal request. This is what the trader shared in this review.
There are no forex licenses granted to VITTAVERSE. Its security license is revoked by the Seychelles Financial Services Authority (FSA). Additionally, user complaints are growing against the broker. The combination of user complaints and no license puts it in a high-risk zone. The WikiFX team gave VITTAVERSE a score of 1.93 out of 10.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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