Vault Markets has been operating in the financial market since 2021. This brokerage company offers over 200 derivative assets across the major market, including foreign exchange, cryptocurrencies, stocks, and commodities.
However, its credibility among South African investors remains in question.
Vault Markets acts as a Legal Representative of RocketX, an authorized Financial Service Provider of FSCA. However, Vault Markets itself is not regulated by any major regulatory body. This means a lack of protection, transparency, and potential for unethical practices.
Read this article as we review regulatory compliance and everything about Vault Markets’ service.
VaultMarkets (Pty) Ltd Regulatory Oversight
The company itself, Vault Market (Pty) Ltd, is not regulated by a major financial authority.
Remember, regulatory compliance should be a major consideration for any trader when choosing a broker to invest with. In the case of Vault Markets, the company is indeed in the gray area due to the absence of a major regulatory body.
One way to ensure you’re trading with a reputable broker is by asking the community for reviews, ratings, or experience.
Does Vault Markets Offer Services in South Africa in 2024?
Yes, Vault Markets offers CFD trading in South Africa. However, it’s not regulated by the Financial Sector Conduct Authority itself.
It is incorporated in South Africa as a duly appointed Juristic Representative of RocketX (Pty) Ltd – an authorized Financial Service Provider (FSP) by FSCA. This way, Vault Markets can offer online trading brokerage services in South Africa.
Note: A representative is an agent or institution acting on behalf of the FPS to deliver service.
Nicky Eilers is listed as Vault Market’s key individual, the person who’s responsible for managing or supervising services within an FSP.
Check below the registration information of RocketX in FSCA:
| FSP Number | 52142 |
| FSP Name | ROCKETX (PTY) LTD |
| FSP Type | Private Company |
| Registration Number | 2020/824856/07 |
| Date Authorized | November 05, 2023 |
| Key Individual | Edith Thabiso Ramahotsoa |
Is Vault Markets Legit in South Africa?
Headquartered in Johannesburg, Vault Markets has an existing service in South Africa. You can indeed access the financial market through this online brokerage company.
However, many South African traders have reported several serious issues with the broker’s service. These complaints highlight potential risks that investors should be aware of before considering this platform.
Here are the most common complaints from Vault Markets users:
- Slippage Issues: Traders have reported experiencing excessive slippage, leading to significant differences between the expected and actual execution prices.
- Non-Reflective Deposits: Some clients claim that their deposits do not reflect in their trading accounts, causing delays and trading disruptions.
- Unresponsive Customer Support: Many traders complain about the lack of timely responses or assistance from the customer service team, particularly during urgent trading issues.
- Delayed or Refused Withdrawals: One of the most alarming complaints is the delay or outright refusal of withdrawal requests. This raises serious concerns about the safety of client funds.
- Price and Execution Manipulation: Several users have accused Vault Markets of manipulating prices and trade executions, resulting in unfavorable outcomes for traders.
These widespread complaints cast doubt on the broker’s reliability and overall trustworthiness. Before trading with Vault Markets, it’s crucial to carefully consider these red flags and explore other brokers with a better track record of service and transparency.
What Is Vault Markets?
| Contact Information | South African Office | Namibian Office |
| Phone Number | +27 10 449 6045 | +26 481 368 2400 |
| Email Address | [email protected] | |
| Postal Address | 177 9th Avenue Highlands North, Johannesburg, Gauteng | Unit 3b, South Port, Hosea Kutako Drive, Windhoek, Namibia |
Vault Markets offers South African investors CFD trading opportunities through RocketX. Specifically, Vault Markets allows SA traders access to derivative instruments, long-term deposits, and short-term deposits.
The client agreement between the Vault Market and its South African traders stated the following brokerage services:
- Trading platform
- Third-party Fund Administrators (TPFA) accounts
- Daily trading statements through email
Aside from brokerage services, Vault Markets provides free trading education for South African investors. The company has a decent selection of video tutorials, blogs, podcast episodes, and eBooks to encourage traders to trade more informedly.
However, the information presented in the educational resources is not guaranteed credible.
Vault Markets Accounts and Minimum Deposit
Vault Markets has a total of six trading account types to cater to the needs and preferences of South African traders.
Of all the offered account types, the cheapest ones are from the Vault No Bonus and Vault 1000 accounts – which only require a minimum deposit of 5 USD. Additionally, Vault 1000 allows 1:1000 leverage – the highest among all the offered account types.
Vault No Bonus
Minimum deposit of 5 USD and leverage that goes up to 1:500. This account works for forex trading and indices trading with a starting spread of 1 pip.
Vault Zero
Vault Zero is an account type with zero spreads and a fixed commission of 6 USD per round lot. However, this account only works for indices trading.
This account type requires a minimum deposit of 100 USD and a leverage that goes up to 1:500.
Vault Swap Free
The Vault Swap Free accounts are trading accounts that don’t have interest or swap charges. It has a minimum deposit of 100 USD and a leverage that goes up to 1:500.
This account type is specifically for Muslim traders who want to participate in online trading without going against the word of Allah.
This account works for indices, forex, and commodity trading.
Vault 200
The Vault 200 account has a minimum deposit of 50 ZAR and includes a 200% welcome bonus to newly registered traders.
What does this mean? The account balance will be thrice the initial deposit – simply, you’ll receive 200% more from your initial deposit.
If your initial deposit is 50 ZAR, your account balance will be 150 ZAR.
Aside from that, this account allows traders to use up to 1:500 leverage and has a spread that starts from 1 pip. Spread from 1 pip.
Note: Bonuses are among the major concerns of regulatory bodies. The bigger the bonuses are, the bigger the likelihood of withdrawal or legal complications. After all, an ethical broker does not need a gimmick of such type.
Vault 1000
The Vault 1000 account is the most popular Vault Markets account type. Why? Because it allows traders to access a leverage of 1:1000 with a small minimum deposit of only 5 USD.
Always remember that trading with high leverage is dangerous; it could be as unprofitable as trading without leverage.
Does Vault Markets Offer a Demo Account?
No, Vault Markets does not offer a demo account to South African traders.
However, traders reported that the broker allows new traders to use its trial account to familiarize themselves with the interface of the platform. This trial account expires 28 days after activation.
VaultMarkets’s Complaint Policy
Defined by Vault Markets, a dispute represents any expression of dissatisfaction of the client regarding the services of the company. The scope of the term applies to all financial services provided by Vault Markets.
If you have a dispute with VaultMarkets, you can file a complaint case at the broker’s proprietary online dispute resolution – which is said to comply with FSCA’s FAIS act.
Here’s the complaint handling procedure of Vault Markets:
- Receipt of complaint: A written complaint, either in hard copy or electronically, can be submitted to the company’s designated complaint email address or postal address. The complaint shall be acknowledged within five (5) business days.
- Investigation and resolution: The assigned compliance officer shall investigate the complaint right after it is acknowledged. Unless an exceptional circumstance causes a delay, the resolution shall be provided within 30 business days. It should include the company’s findings and necessary remedies or corrective actions.
Is Vault Market a TRU Ally? Escalate your dispute to the TRU Dispute Resolution System for a quick, effective, and fair resolution.
Is Financial Regulatory Oversight Really Important?
Your broker’s financial regulatory compliance is absolutely essential to protect your investment and overall interest.
Regulatory bodies ensure that online brokers adhere to strict standards designed to protect investors from fraud and malpractice. This includes verifying that brokers have sufficient capital to cover their operations and client funds.
Moreover, a brokerage or service provider company that’s under a regulatory body is mandated to publicize a clear fee and commission structure to avoid confusion among investors.
Is Vault Markets Worth the Risk?
While Vault Markets offers attractive features like a low $5 minimum deposit and access to various financial instruments, its lack of direct regulation and numerous complaints from traders raise significant concerns.
Issues such as slippage, unresponsive customer support, and withdrawal delays are red flags that cannot be ignored.
Vault Markets may not be the best choice in 2024 for traders seeking reliability, transparency, and customer protection.
