Forex Veracity Markets Trading Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.5

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.7

Business 1.0

Risk Control 1.3

Software 2.0

Regulatory 1.5

Terminal Snapshot

Veracity Markets Trading Conditions

Registered Region South Africa

Operating Period 5-10 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email help@veracitymarkets.com

Contact Number +270870125545

Website veracitymarkets.com

Balanced Review

Pros & Cons

Pros

Regulated by Financial Sector Conduct Authority (FSCA)
Diverse range of trading instruments including 55+ forex pairs, commodities, and indices
Utilizes MetaTrader 4 platform for desktop and mobile trading
Competitive leverage of up to 1:500
24/5 customer support available for assistance

Cons

Not regulated by top-tier authorities
Lack of educational resources for beginner traders
Limited range of trading tools beyond MT4
Customer complaints regarding withdrawal issues
No live chat support for customer inquiries

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	Veracity Markets	FXVIEW	Naqdi	AvaTrade
Operating Period	5-10 years	See review	See review	See review
Region	South Africa	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.5/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does Veracity Markets Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Standard Account	Beginners and general traders	Commission-free trading, floating spreads from 1.6 pips	Minimum deposit of $250
Fixed Account	Traders seeking stability	Commission-free trading, floating spreads starting at 2 pips	Minimum deposit of $250
ECN Account	Professional and high-volume traders	Spreads from 0 pips, $7 commission per lot	Minimum deposit of $250, suitable for experienced traders
Standard Cent Account	New traders looking to practice	Allows trading in cents, similar conditions to standard	Minimum deposit of $250

Account Opening Process

To open an account with Veracity Markets, clients must follow a straightforward process. Initially, personal information such as name, email, and contact number is submitted. Subsequently, employment and financial information will be required to identify the trading profile. Clients must provide identity verification documents, including a government-issued ID and proof of address. Once the documentation is submitted, account verification can take up to 48 hours. It is also worth noting that clients have the flexibility to upgrade to a professional account later on, should their trading needs change.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	1.6	$0 (Standard, Fixed accounts)	Floating spreads
Forex (ECN)	0.0	$7 per lot	Low spreads for high-volume trading
CFDs (Indices)	Varies	$7 per lot	Commission applies
Commodities (Gold, Silver, Oil)	Varies	$7 per lot	Commission applies

Other Fees

Veracity Markets maintains a transparent fee structure with no charges for deposits made via local bank transfers. However, a 2% fee applies to withdrawals processed through Skrill and Neteller. There are no inactivity fees, account maintenance fees, or platform usage fees. Additionally, overnight interest (swap rates) may apply depending on the account type and conditions. Currency conversion fees may also be applicable based on the transaction specifics.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

Veracity Markets User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Candra S.

Johannesburg

★ ★ ★ ★ ★

I regret depositing money into Veracity Markets. My trades were closing unexpectedly without any warning, even when I had sufficient margin. When I contacted support, I received no response. It feels like a scam, and I’ve lost a lot of money due to their unreliable platform.

Enechukwu

Cape Town

★ ★ ★ ★ ★

I’ve been trading with Veracity Markets for over a year, and while I’ve experienced some minor issues, overall, my experience has been positive. The spreads are reasonable for forex trading, and my withdrawals were processed in a timely manner. I appreciate how user-friendly the MetaTrader 4 platform is.

Shabbir Abbasi

Durban

★ ★ ★ ★ ★

My experience with Veracity Markets has been nothing short of terrible. I faced constant issues with withdrawals, and the spreads widened drastically during market movements. It feels like they are designed to keep your money rather than help you trade successfully.

Vladislav P.

Pretoria

★ ★ ★ ★ ★

Veracity Markets has been a reliable broker for me. I appreciate their competitive leverage and the variety of trading instruments available. The platform is stable, and I found customer support to be responsive when I had questions. Overall, I’m satisfied with my trading experience here.

South Africa Market