Formerly known as iFOREX, Vestle is a trading platform that has managed to build a reputation based on trust, excellent customer service and unique educational resources. Regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license # 143/11 andbackedby a company with over 22 years of experience in the financial market, Vestle has managed to create the perfect combination of old-fashioned financial values and state-of-the-art, cutting-edge technology. The company currently has over 56.917 clients and offers its services to users in over 20 countries. Vestle believes that maintaining an active investment portfolio is an essential skill and invaluable experience for one to have in the 21stcentury. Their user-friendly platform and education-built approach stands to prove they not only value this experience, but actively attempt to apply it through every aspect of their brand.
Account Features
Demo Account
Standing behind a vision that values education first, it is only natural to assume Vestle will offer its users a free demo account to practice trading on the platform risk-free. This account starts with a 5.000€ balance in virtual money and gives investors the chance to examine how the Vestle platform operates before making their initial deposit and beginning their trades with real money. This demo account was nowhere to be found when registering with their software though. Vestle claims it will be automatically created for all users when having registered for a normal account and if they have trouble accessing it, they should contact Customer Service.
Account Types
Under the “Getting Started” tab on their website, Vestle mentions three separate “trading styles” their customers can choose from when creating an account. One can only assume these are three different account types, when Vestle gives what would be considered rather vague descriptions of each account.
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Specialized Trader
This appears to be an account built for beginners. It focuses on only a few instruments and categories traders can choose from and shows preference to familiar CFDs that users can easily obtain information about. It generally operates with the customized trading tools the Vestle platform has to offer, making the experience less complicated for potential users.
However, there seems to be no indication on which few instruments this account shows preference to or what “familiar CFDs” it refers to.
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Diversified Portfolio Trader
Contrary to the specialized trader account, this account allows users to open deals on a variety of instruments that can be chosen from various categories, operating on the premise of “diversification”. They claim this type of account reduces risk while having at its disposal various informative resources in order to stay on top of industries and economies.
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All-in-One Trader
The final account Vestle offers operates mainly on exploring new opportunities, while appreciating market updates and any new additions to CFD instruments. It claims to implement different trading strategies, hence the name “all-in-one”.
Once again, the description is rather vague for all these accounts, leaving the user a little confused as to exactly what is to be expected from each type. It would be good if Vestle gave more specific information and numerical data, like exactly what is the numerical difference between the first and second account and what familiar CFDs it refers to.
Trading Software & Assets
Vestle offers traders a variety of over 600 tradeable instruments, including currency, share, index, commodity, ETF and cryptocurrency CFDs. In regard to their cryptocurrency assets, they only seem to have Bitcoin available and no other cryptocurrencies for investors to trade. Users have the ability to trade seven days a week with leverage up to 30:1 and tight spreads as a default.
As for their investor platform, Vestle prides itself on offering a state-of-the-art, user-friendly trading platform, FXnet, which they claim to be an excellent choice for both novice and experienced traders. Their platform indeed appears straightforward and easy-to-use, with their assets organized separately so traders can find what they may be looking for much faster.
Many users prefer to have access to their accounts on-the-go, so Vestle conveniently provides a simple and reliable trading app available for free on the App Store and on Google Play. The Vestle app includes smart market updates, money and risk management tools, as well as full access to their extensive educational program.
As mentioned in several points throughout this article, Vestle firmly believes in “investing with knowledge”. Their entire brand is built upon the concept of education and they implement it by providing their customers with experienced, personal trainers, as well as a variety of educational material at their disposal any time they need. This focus on education is not only excellent for new investors, but for experienced traders as well. They provide one-on-one training sessions, guides, videos and articles, all available so users can make “knowledge-based investment decisions”. Throughout their website, they also have many areas where they explain basic forex and trading terms, in addition to separate pages for each of their assets, giving users a detailed description of them all. This is definitely one of Vestle’s strongest areas and one that gives them a certain edge over the market. Instead of having to do personal research on all these processes and terms, traders have all the information accessible through Vestle immediately. The minute a user has registered successfully, they immediately get access to two whole weeks of digital trading courses and signals for free.
Support Information
Vestle takes pride in their customer service, claiming that whereas most of their competitors tend to offer more automated support processes, Vestle sees great value in a certain balance between technology and human touch.
On the company website, a click away from the “Vestle Support” option located at the bottom of the page, users have an entire section that addresses the most frequently asked questions, categorized by topic. These can range from general information like who they are and what they offer, to log in problems and technical issues users may be facing. Being a company that so often stresses on the importance of knowledge-based investment decisions with their educational resources, they also provide links to several beginner’s guides on trading, forex terms and assets.
If an inquiry or issue is not addressed on this page, under their “contact us” tab, Vestle offers several ways users can get a hold of them depending on individual preferences. There are various emails categorized by topic, as well as fax and telephone numbers to reach out to them directly. They also provide phone numbers customers can use to contact them from a variety of countries like Austria, France, Germany, Greece, Italy, Netherlands, Poland, Romania, Spain and Sweden. Vestle continues to encourage their customers to reach out with absolutely any question, comment or request.
There is no mention of a live chat in the “contact us” page or anywhere else on the website, but when in the process of registering, a live chat window suddenly appears on the bottom of the page. It remains unclear whether this option is used by Vestle or not for questions seem to be answered only half the time. Customers would therefore be encouraged to stick with the options directly offered by the company, like email or telephone.
Banking & Company Information
Vestle is the trading name for iCFD Limited with headquarters in Limassol, Cyprus. They are located on the corner of Agiou Andreou and Venizelos streets, on the 2ndfloor of the Vashiotos Agiou Andreou Building.
Their company is PCI certified, providing their customers with secure payment and transactions. Once users have sent all their official documents for the account verification process, they can then deposit their money both online and offline, at their individual convenience. These options include Bank Wire, Credit Card, Debit Card and eWallets.
There is no mention on their website about the minimum deposit required to begin trading or the minimum investment per trade, so users would once again be encouraged to contact their customer service for this information, or any other clarification needed.