Independent Review - VLOM
Very few people choose a broker and immediately sign up with them to trade. Instead we take the time to investigate the broker and their history, learning as much as we can before trusting them with our money. To make that easier for you if you are considering trading through VLOM, I’ve pulled together all the information you’ll need to make that decision.
The first thing you should know is that VLOM is a broker headquartered in Saint Vincent and the Grenadines (SVG). There is plenty more to learn though, which is why we have done an entire review.
Here is the short version of what VLOM offers to traders, for those who don’t want to take the time to read the entire review:
- World class MetaTrader 5 platform
- Access thousands of markets
- Reliable execution
- Low commissions
- Safety of funds
- Fast capital withdrawals
- Free training and education
VLOM is an online broker that was launched in 2019. Their website is professionally done and is easily maneuverable. You can quickly find out about all the assets being offered, how to go about creating an account, what account types and benefits you get, and all about the trading platform, which happens to be MetaTrader 5. In addition to that there are all the legal documents, as a well as a page detailing the steps taken by VLOM to maintain a safe trading environment and secure client data.
Even though VLOM has only been in business since 2019, they have built-up a large stable of clients in that time, because of their good reputation and outstanding trading conditions. With its experience in financial markets VLOM can provide an ideal trading experience for beginners or for experienced traders like myself.
And VLOM offers over 2,000 trading markets for its clients, so you know you will never get bored and miss out on a big event in any market. VLOM lets you trade on so many markets and is there to help you become successful.
When it comes to regulation VLOM is not regulated, but they still provide account segregation just as if they were regulated. They have also contracted to maintain a Level 1 PCI compliant data center and use 256-bit Secure Socket Layer encryption to maintain the security of all client data and transactions.
We know the lack of regulation may be a concern to some traders, but in honesty it is not the regulators that keep brokers clean and working for the benefit of the clients. No, it is their own reputation that does this. A broker knows very well how quickly news of bad behavior at a broker spreads across the internet, and they do not want to tarnish their reputation by getting caught up in malicious behavior.
One thing missing from VLOM, even though it has seven different account tiers, plus Islamic accounts for the higher tiers, is a demo account to test the platform before depositing. We know most traders who are not brand new already know what’s available with MetaTrader 5, but it’s always good to use the demo account to test the trading conditions of the broker.
Regarding the account types, like we said there are seven tiers, and each successive tier higher adds a new benefit or two. The determining factor for which tier a client falls into is the total deposits, with the base Beginner level account needing just $100 to get started. Here is a breakdown of each account tier and the minimum deposit required:
- Beginner - $100 minimum deposit
- Plus - $20,000 minimum deposit
- Advanced - $50,000 minimum deposit
- Premier - $100,000 minimum deposit
- Platinum - $500,000 minimum deposit
- Platinum Pro - $1,000,000 minimum deposit
- VIP - $10,000,000 minimum deposit
There are some things that all tiers have in common, and that’s access to MetaTrader 5 as the trading platform, including the web-based and mobile version. All the account tiers also get low market pricing, multi-language support, and the fast, reliable order execution VLOM is known for. At the Plus level access to live signals is added, as well as access to the educational portal. Once the Advanced tier is reached clients get a personalized account, and the Premier level unlocks Islamic no-swap accounts. The Platinum level may have the newest benefits as it adds personalized trading strategies, personalized analytics, a personal account manager, and access to social trading. At the Platinum Pro level clients can benefit from direct trading through specialist on exchange floor as well as thousands of market products. And the top VIP level brings invitations to VIP events and accelerated withdrawals.
We’ve made mention of the large number of assets you can trade at VLOM earlier. It’s over 2,000 trading markets they bring, which is a far greater availability than at most brokers these days. You’ll be able to trade over 100 currency pairs, plus CFDs on soft commodities like coffee, energy products, metals, hundreds of individual stock CFDs, and CFDs on global indices. One glaring omission though is digital currencies. We are not sure if VLOM is ignoring the cryptocurrency craze, or if they are working on adding these unique new assets.
VLOM gives traders the opportunity to use the world-class MetaTrader 5 platform, and it makes it available in desktop, mobile, and web-based versions. If you’ve done any market trading you’ve almost certainly come across MT5 before and know exactly how powerful it is for order management and the technical analysis of price action. While we prefer the prior MT4 version, there’s nothing inherently wrong with the MT5 version, and many new traders prefer it over the older version.
The decision to use the MetaTrader franchise as the trading platform seems to be an excellent one, as it not only gives traders access to the powerful analysis and indicators of MT5, but also opens up the possibility of automated trading using Expert Advisors. You can even access all these features in the web and mobile versions, so you’ll never be at a loss.
From what we can gather they accept Visa, Mastercard, Amex, Skrill and Neteller for deposits and withdrawals. We would presume that bank transfers are also accepted. They do have a small Bitcoin symbol on their website that would seem to indicate that is accepted as well, but without registering an account there’s no way to say for sure.
VLOM's customer service staff is available for 24/5 and can be contacted via online chat, telephone, email, and Messenger. When we contacted the support team via online chat to get some basic questions regarding banking answered they were mostly helpful but tried to steer me into creating an account. Otherwise they seemed knowledgeable about the services and platform.
Contact page: https://vlom.com/more/support
It appears that VLOM is creating a name for itself among online brokers and has been quite successful in maintaining a good reputation and attracting new traders to its platform. We really did like the use of MT5 as the trading platform and the different account tiers, not to mention the number of assets being offered.
Needless to say regulation would probably make the broker more acceptable to a number of traders, but there’s no perfect broker out there. The fact that they are meeting regulatory requirements without being regulated, and that they have a good reputation we think outweighs the issue of regulation.
Overall this is a broker that is worth trying, but only if you don’t want access to cryptocurrencies.