Overview of VirgoCX
VirgoCX Finance Ltd, established in 2016 and based in China, offers a dynamic trading platform for a wide range of financial instruments. Despite operating in an unregulated environment, VirgoCX provides competitive trading conditions with features like zero spreads on select accounts and high leverage options up to 100x, which can amplify trading potential.
The platform supports both its proprietary VirgoCX interface and MetaTrader 5 (MT5), catering to various trading styles with advanced charting and automated trading capabilities. VirgoCX prioritizes customer support with 24/7 online service and offers educational resources to empower traders.
Regulatory Status
VirgoCX currently operates without valid regulation from any recognized financial authority. Investors are generally advised to prioritize platforms that operate under robust regulatory frameworks, as this can enhance confidence in the safety and reliability of their investments.
Unregulated entities, on the other hand, may not provide the same level of investor protection, leaving users vulnerable to potential risks and uncertainties.
Pros and Cons
VirgoCX offers access to two top-tier trading platforms, providing users with a choice between its VirgoCX interface and MetaTrader 5 (MT5), enhancing flexibility and catering to diverse trading strategies. The platform features ultra-low transaction costs. It supports a wide range of trading varieties, including Forex, cryptocurrencies, and other assets, and offers 24-hour T+0 two-way trading.
However, one significant concern is the uncertain regulatory environment in which VirgoCX operates. The various types of account information are not publicly available, which may affect the selection preferences of potential users.
Market Instruments
VirgoCX provides a diverse range of trading instruments catering to various markets.
Clients can engage in foreign exchange (forex) trading, leveraging fluctuations in currency pairs for profit. The platform also supports the trading of precious metals, allowing investors to speculate on the prices of commodities like gold and silver. Cryptocurrency trading is another key offering, enabling users to buy and sell digital currencies such as Bitcoin and Ethereum.
Additionally, VirgoCX facilitates trading in energy commodities, giving traders opportunities in oil and other energy products. This broad selection of instruments equips users with options across multiple asset classes, enhancing their trading flexibility and potential for portfolio diversification.
Account Types
There are three main types of account levels in VirgoCX: standard, professional, and distinguished different account levels, enjoy different spread offers and different courtesy benefits.
The Standard Account is suitable for traders who are starting out or prefer a simpler approach to trading without additional complexities.
The Professional Account is aimed at experienced traders who require more advanced features and potentially lower fees.
The Distinguished Different Account, such an account type might be reserved for high-net-worth individuals or institutional clients.
However, in practice, it was found that VirgoCX did not publish specific account information, which requires registration to view. Opening an account is free, but activating an account costs $500.
How to Open an Account？
Opening an account with VirgoCX involves several steps to get started trading cryptocurrencies:
- Visit the VirgoCX Website: Begin by visiting the official VirgoCX website using a web browser on your computer or mobile device. Click 'Open a real account' in the center of the homepage of the company's official website, or download FTS to open an account.
- Enter Your Information: Fill out the registration form with your personal details. You will typically need to provide:
- Your full name
- Mobile phone number
- ID number
- Verify Your Email: After submitting the registration form, check your email inbox for a verification message from VirgoCX. Click on the verification link provided in the email to activate your account.
- Set Up Security Measures: Once your identity is verified, consider setting up additional security measures such as two-factor authentication (2FA) to protect your account.
- Start Trading: Once your account is fully set up and verified, you can fund your account using supported fiat currencies or cryptocurrencies. After funding, you can start trading on the VirgoCX platform.
Following these steps will ensure you have a secure and verified account on VirgoCX, enabling you to participate in cryptocurrency trading and other services offered by the platform.
Leverage
VirgoCX offers a maximum trading leverage of up to 1:100, providing traders with the opportunity to amplify their trading positions beyond their initial investment. Leverage enables users to control larger positions in the market with a smaller amount of capital, potentially increasing both profits and losses.
Spreads & Commissions
VirgoCX offers a streamlined approach to trading costs with its emphasis on competitive spreads and accessible commissions, catering to a diverse range of traders.
Trading Platforms
VirgoCX Trading platform is a powerful and versatile software that is currently one of the most popular Forex and CFD trading platforms in the world, used by more than 300 brokers and banks.It has a series of functional advantages: advanced chart analysis, one-click trading, mobile stop-loss function, plotting tools and technical analysis indicators, as well as an international universal trading platform.
In addition, VirgoCX offers a sophisticated trading environment centered around the MetaTrader 5 (MT5) platform, known for its comprehensive features tailored for both novice and experienced traders in the cryptocurrency market.
Customer Support
VirgoCX provides certain customer support channels to help users solve problems related to their trading platform, mainly including Email and 24 HoursCustomer Service Online.
If you want to contact via email, please send to: virgocxvip@gmail.com
VirgoCX also provides 24 HoursCustomer Service Online through their platform or website, you can interact directly with support agents in real-time.
Conclusion
VirgoCX presents a compelling option for traders seeking a diverse range of financial instruments and competitive trading conditions. Established in 2016 and based in China, its strengths lie in comprehensive asset offerings spanning Forex, cryptocurrencies, and more, supported by user-friendly platforms like VirgoCX and MT5. However, operating in an unregulated environment can pose potential risks.
FAQs
In what currency is the VirgoCX platform settled？
US dollars.
Are there any fees for opening an account？
It is completely free for you to open an account on VirgoCX Finance Ltd.
What information do I need to open an account？
You only need to fill in your name, mobile phone number, and ID number to open an account.
How is the deposit charged？
The margin for different products is different, such as USDJPY, and you can trade 0.1 lots for a minimum of $100.
How long does it take to trade？
You can trade 24 hours a day on our platform, and the trading hours of different trading products will be different.
