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Contract reading

What vestrado legally published, but does not want you to read

Every clause below is published by vestrado itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: VESTRADO Limited

sole discretiondeemed acceptanceprofit voidingdispute barrierhidden feekyc freezeislamic accountoffshoreregulatory claimwithdrawals

Vestrado's marketing promises segregated funds, regulation and withdrawals "within seconds". Its contract authorises Vestrado to pledge your money as collateral to third parties, names no regulator, and reserves five working days for a withdrawal. You get three calendar days to complain about a trade. Disputes go to arbitration in Vienna before three arbitrators.

Back to vestrado

Contract risk

Money at risk
8.7/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
9
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
18
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
7
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
7

How the 18 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical9
Warning8
Notice1

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical5 working daysWithdrawal limit. Jump to the clause this comes from.Withdrawals sold as instant, contract reserves five working daysCritical3 daysTime to complain. Jump to the clause this comes from.Three calendar days to complain about a tradeCritical30 daysProfit at risk. Jump to the clause this comes from.Swap-free accounts: all trades void, all profits cancelledCritical100%Bonus requirement. Jump to the clause this comes from.Bonus credit inflates equity and can be pulled anytime

What the documents say

18 clauses worth knowing about, worst first, each quoted from vestrado's own files

01

Vestrado's website tells you your money sits in segregated accounts at top-tier banks. Article VII of the contract says you authorise Vestrado to use your funds as collateral with third party service providers. Article V.8 adds that the money is held in accounts opened on Vestrado's behalf.

Why this matters

Money pledged as security for another firm's obligation can be taken by that firm if Vestrado defaults, and you would rank behind it. You agree to this by opening the account, not by clicking anything that mentions collateral.

Exhibit 1CriticalRarely seen

The Client hereby acknowledges and authorizes VESTRADO to use their funds as collateral/security deposit to Third Party Service providers.
Clause VII.4 in Vestrado Terms and Condition, p.17
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026The claim, on Why Us page, under the heading Unrivalled ProtectionVisit this page on the broker's siteDownload the full size image file
Our own capture of vestrado.com, taken on Aug 27, 2026What the contract says, clause VII.4Visit this page on the broker's siteDownload the full size image file
Our own capture of vestrado.com, taken on Aug 27, 2026The claim, on Deposit and Withdrawal page, opening paragraphVisit this page on the broker's siteDownload the full size image file
Our own capture of vestrado.com, taken on Aug 27, 2026What the contract says, clause V.8Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must hold retail client money in segregated client accounts and may not use it as collateral for their own obligations. This contract has you authorise that use, and describes the holding accounts as opened on Vestrado's behalf.

vestrado is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingPledging retail client money as collateral to a third party is a wholesale funding technique. Most retail trading agreements promise the opposite, that client money is held apart from the firm's own and cannot back the firm's obligations.

  • Worse together with Exhibit 17No regulator supervises the holding of this money and no compensation scheme is named, so the collateral permission has nothing behind it.
02

Vestrado advertises instant withdrawal and says your funds are available within seconds, even on weekends. Article VII.4(e) reserves a maximum period of five working days from the moment you place the request. Working days exclude the weekends the advert names.

Why this matters

You may plan around a payout arriving in seconds and wait a working week for it. Article XXIV.6 also lets Vestrado withhold payment altogether when it decides your trading was abusive, and Vestrado alone decides that.

Exhibit 2CriticalHarder than usual5 working days

VESTRADO reserves the maximum period of five working days, starting at the moment of placing a withdrawal request by Client before the funds are transferred to the Transaction Account of Client.
Clause VII.4(e) in Vestrado Terms and Condition, p.16
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026The claim, on Why Us page, under the heading Instant WithdrawalVisit this page on the broker's siteDownload the full size image file
Our own capture of vestrado.com, taken on Aug 27, 2026What the contract says, clause VII.4(e)Visit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 4The five day clock means nothing once Vestrado has withheld performance under the abusive trading clause, which carries no deadline.
03

Vestrado's pages call it a regulated broker and name the Saint Vincent and the Grenadines Financial Services Commission, with an FSCA badge on the bonus page. The contract names no regulator. The authority it cites is the Business Companies Act, and Article XVI.7 tells you the trading is not on a regulated market.

Why this matters

You may open the account believing a supervisor stands behind it. The contract you agree to says the opposite about the market you trade on, and gives you no regulator to complain to when Vestrado refuses a payout.

Exhibit 3CriticalHarder than usual

The Client understands and recognizes that the transactions to be conducted pursuant to this Contract are not conducted on a regulated market or exchange.
Clause XVI.7 in Vestrado Terms and Condition, p.28
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026Marketing claims regulation the contract does not name (clause XVI.7)Visit this page on the broker's siteDownload the full size image file
  • Same clause as Exhibit 17One registration sentence is both the marketing claim's only support and the contract's whole account of who oversees Vestrado.
04

Article IX.6 lets Vestrado revoke a transaction it has already executed, including where it decides you used an abusive technique. The clause says the technique is one determined by Vestrado, and the contract never defines it. The same clause lets Vestrado refuse any order without notice or explanation.

Why this matters

A winning trade you closed can be reversed after the money reaches your balance. You get no test to argue against, because Vestrado writes the definition at the moment it applies it.

Exhibit 4CriticalHarder than usual

The transactions were executed by arbitrage/ exploitation of market failures, off-market rates, or any other abusive technique as determined by VESTRADO;
Clause IX.6(a) in Vestrado Terms and Condition, p.20
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026Executed trades can be revoked on grounds Vestrado alone sets (clause IX.6(a))Visit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 9Article XV.2 adds the power to cancel executed transactions and offset balances across your accounts once Vestrado declares a default.
05

You get three calendar days to complain in writing about a transaction, and fifteen for a complaint about Vestrado's services. Article XXIV.1 then says Vestrado has no obligation to handle anything submitted late. Three calendar days can fall entirely across a weekend.

Why this matters

A wrong price or a trade you never placed has to be spotted and written up inside three days, or Vestrado can decline to look at it. The clock runs in calendar days, not working days.

Exhibit 5CriticalHarder than usual3 days

In the event, that any complaints or claims against VESTRADO arise to the Client, such complaints or claims must be submitted to any of the authorized employees of VESTRADO in written form and no later than three calendar days in case the claim or complaint concerns a Transaction or Transaction Order, and no later than fifteen calendar days in case the claim or complaint concerns Investment Services provided by VESTRADO.
Clause XXIV.1 in Vestrado Terms and Condition, p.32
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026Three calendar days to complain about a trade (clause XXIV.1)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must accept a retail complaint and have weeks to answer it, and the client keeps a route to an independent ombudsman. This contract gives you three calendar days and then removes Vestrado's duty to respond.

vestrado is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Within 3 calendar daysA written complaint about a transaction or an order must reach an authorised Vestrado employee.XXIV.1
Within 15 calendar daysA written complaint about Vestrado's investment services must be submitted.XXIV.1
After the deadlineVestrado has no obligation to handle the complaint.XXIV.1
  • Worse together with Exhibit 10Complaining inside the three days can itself cost $100 if Vestrado decides the request was unjustified.
06

Ask for a swap-free Islamic account and Article XI.7 lets Vestrado close every account you hold, void every trade and cancel all profits, immediately and without notice. Article XI.9 treats any position left open 30 days without a take profit or stop loss as misuse.

Why this matters

Holding a position for a month without a stop loss is ordinary trading, and on a swap-free account it is written down as misuse. Article XI.5 converts all your accounts to Islamic status at once, so one finding reaches everything you hold.

Exhibit 6CriticalRarely seen30 days

To close all trading Accounts of such Client with VESTRADO, nullify all trades carried out in such Client's trading Accounts with us, and cancel and all profits or losses garnered in such Client's trading Accounts with VESTRADO.
Clause XI.7(d) in Vestrado Terms and Condition, p.23
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026Swap-free accounts: all trades void, all profits cancelled (clause XI.7(d))Visit this page on the broker's siteDownload the full size image file

Our readingSwap-free abuse clauses normally let a broker claw back the swap charges it waived. This one voids the trades and the profits too, and reaches every account the client holds rather than the swap-free one.

  • Worse together with Exhibit 11The same 30 day mark separately triggers retroactive swap and administration charges under Article X.6.

The 100% bonus is equity Vestrado can take back

Vestrado's 100% recharge bonus arrives as Credit, which Article I.9 defines as a fictional amount that increases equity. Article VII lets Vestrado remove that Credit at any time by its own decision, and says you have no legal claim to it. Positions sized against the doubled equity remain, and Article IX.1(f) then allows forced closure below half the required margin.

Bonus mechanics1 clause flagged

Vestrado markets a 100% deposit bonus and says it lifts your equity so you can open larger positions. Article VII says that credit shall be removed anytime according to Vestrado's decision, and you have no legal claim to it. Article I.9 calls the credit a fictional amount that increases equity.

Why this matters

Positions sized against doubled equity stay open when the credit half disappears. Once equity drops under half the required margin, Article IX.1(f) lets Vestrado close your positions without asking, and the loss lands on your own deposit.

Exhibit 8CriticalHarder than usual100%

On certain occasions, the Client shall be awarded bonuses in the form of Credit. This Credit shall be removed anytime according to the decision of VESTRADO. The Client is not entitled to the legal claim of Credit assignation.
Clause VII.3 in Vestrado Terms and Condition, p.17
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026The claim, on 100% Recharge Bonus page, answer to Can I withdraw the bonusVisit this page on the broker's siteDownload the full size image file
Our own capture of vestrado.com, taken on Aug 27, 2026What the contract says, clause VII.3Visit this page on the broker's siteDownload the full size image file
Our own capture of vestrado.com, taken on Aug 27, 2026Bonus credit inflates equity and can be pulled anytime (clause VII.3)Visit this page on the broker's siteDownload the full size image file

What it costsDeposit $1,000, receive $1,000 of credit, trade against $2,000 of equity. Remove the credit and the same open position is backed by $1,000.

  • Worse together with Exhibit 18The four bonus campaign documents that would set the turnover rules are published as scanned pictures, so their conditions cannot be read.

A default happens when Vestrado finds it desirable

Article XV.1(g) makes an Event of Default any circumstance where Vestrado reasonably believes acting is necessary or desirable. Vestrado may then combine your accounts, offset the balances between them and cancel executed transactions, at its sole discretion and without written notice. Article II.4 separately lets Vestrado rewrite the terms with effect from the moment they are published.

Discretion2 clauses flagged

Article XV lists what counts as an Event of Default, and item (g) is any circumstance where Vestrado reasonably believes it is necessary or desirable to act. Vestrado can then combine your accounts, offset the balances between them and cancel executed transactions, at its sole discretion and without written notice.

Why this matters

A profit on one account can be used to cover a loss on another, and a trade you closed can be unwound. The trigger is Vestrado's own view that acting would be desirable, which is not a test you can meet or fail.

Exhibit 9CriticalHarder than usual

Any other circumstance where VESTRADO reasonably believes that it is necessary or desirable to take any action set out in the following paragraph;
Clause XV.1(g) in Vestrado Terms and Condition, p.27
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026Default trigger is whatever Vestrado finds desirable (clause XV.1(g))Visit this page on the broker's siteDownload the full size image file

Article II.4 lets Vestrado change the terms with no written amendment, and the change takes effect when published. Article XXIV.4 says you agree to be bound by any amendment. Vestrado does undertake that changes will not fundamentally worsen your position, and says a fundamental change must be in writing.

Why this matters

You can be bound by a clause you never saw, because publishing it on the website is all the notice the contract requires. Vestrado also decides for itself whether a change counts as fundamental.

Exhibit 14WarningHarder than usual

VESTRADO reserves the right to modify these Terms and Conditions unilaterally. No written amendment is required for such modification.
Clause II.4 in Vestrado Terms and Condition, p.7
Read from the broker's site on Open the reference

Three days to complain, then Vienna

Article XXIV.1 gives you three calendar days to complain about a Vestrado trade, fifteen for a service complaint, and then removes Vestrado's obligation to handle it. Complaining can cost $100 if Vestrado decides your query was unjustified. What survives that goes to arbitration before three arbitrators seated in Vienna, and no free ombudsman is named anywhere.

Complaint route1 clause flagged

Every dispute goes to arbitration under the rules of the International Chamber of Commerce, before three arbitrators, seated in Vienna. Governing law is St Vincent and the Grenadines. The contract names no small claims route, no single arbitrator option and no ombudsman.

Why this matters

Three arbitrators plus an institutional filing fee cost more than most retail trading balances, so a claim becomes uneconomic to bring. You also have to hire lawyers in a city on a different continent from where Vestrado took your deposit.

Exhibit 7CriticalRarely seen3

All disputes arising out of or in connection with the actual Contract shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by three arbitrators appointed in accordance with the said Rules. The seat of arbitration shall be Wien.
Clause XIX.2 in Vestrado Terms and Condition, p.30
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026Disputes go to Vienna arbitration before three arbitrators (clause XIX.2)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA give retail clients free access to the Financial Ombudsman Service, and CySEC firms answer to the Financial Ombudsman of Cyprus. This contract routes you to a three member ICC tribunal in Vienna and names no free scheme.

vestrado is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingRetail agreements that use arbitration normally name a single arbitrator or a consumer scheme, because cost scales with the number of arbitrators. A three member ICC tribunal is the structure used for disputes between companies.

Charges with no published amount, and one for complaining

Article V.10 lets Vestrado charge you $100 for a transaction review it decides was unjustified, and Vestrado judges that itself. Article X.6 allows swap fees and administration charges to be applied retroactively after 30 days, with no amount stated for either. Article X.1 points to a list of fees and charges on Vestrado's website, and no such list is published.

Cost disclosure2 clauses flagged

Ask Vestrado to review a transaction that did not execute and it can charge you $100 per review if it decides your request was inadequate and unjustified. Vestrado decides whether your own complaint had merit. Where it did, Vestrado bears the cost instead.

Why this matters

Querying a missing trade carries a price set by the company you are querying. On a small account, $100 is more than most clients would risk to chase a disputed order.

Exhibit 10WarningRarely seen$100

However, if the client's request proves to be inadequate and unjustified, VESTRADO may, at its own discretion, charge $100 (one hundred U.S. dollars) per revision.
Clause V.10 in Vestrado Terms and Condition, p.14
Read from the broker's site on Open the reference

What it costsQuery three non-executed orders and lose all three arguments, and $300 leaves your balance before any trading result.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must handle retail complaints free of charge. This contract lets Vestrado bill you $100 for a review it decides was unjustified.

vestrado is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingCharging a retail client for an unsuccessful complaint is unusual in a trading agreement, and rarer still where the firm being complained about decides whether the complaint had merit.

Hold a position more than 30 days without what Vestrado reads as profit-taking intent and Article X.6 lets it apply swap fees, administration charges, or both, backwards at prevailing market rates. Neither charge has a published amount.

Why this matters

A charge calculated backwards over a month you have already traded can take money you counted as profit. The contract points you to a list of fees on the website, and no such list is published for swaps or administration charges.

Exhibit 11WarningHarder than usual30 days

Retroactively apply swap fees, administration charges, or both based on the prevailing market rates.
Clause X.6 in Vestrado Terms and Condition, p.22
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose costs and charges to a retail client before they trade. This contract sets no amount for the administration charge and applies it to a period already past.

vestrado is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Vestrado picks the route, the currency and the week

Article VII.4(e) reserves five working days for a Vestrado withdrawal, against a marketing page promising funds within seconds even on weekends. Payouts go only to the account you deposited from, only in your account's currency, and can be refused where Vestrado finds the requester's authenticity disputable. Article XXIV.6 lets Vestrado stop paying entirely once it decides your trading was abusive.

Exit conditions1 clause flagged

Vestrado advertises access to your funds in any way you prefer. Article VII.4 sends withdrawals only to a registered Transaction Account, only in your account's currency, and lets Vestrado reject a request where it finds the requester's authenticity disputable. Disputable is not defined.

Why this matters

If the card or bank account you deposited from is closed, the contract gives you no other exit route. A payout can also be refused because Vestrado doubts the request, with no test you can satisfy.

Exhibit 13WarningHarder than usual

All withdrawals must only be made to Transaction Account(s) or otherwise the request for withdrawal will be rejected by VESTRADO;
Clause VII.4(b) in Vestrado Terms and Condition, p.16
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026The claim, on Why Us page, under the heading Take control of your moneyVisit this page on the broker's siteDownload the full size image file
Our own capture of vestrado.com, taken on Aug 27, 2026What the contract says, clause VII.4(b)Visit this page on the broker's siteDownload the full size image file

Suitability checks deferred, religion on file, consent pre-given

Vestrado's Smart Onboarding defers the Investment Questionnaire and proof of address until cumulative deposits pass $1,000, so you can trade before anyone asks whether leveraged products suit you. Article XI.2 lets Vestrado demand proof of your religion for a swap-free account. Article XVIII.3 shares your data with affiliates and business partners on a permission the contract records as already given.

What Vestrado collects2 clauses flagged

Vestrado's Smart Onboarding lets you skip the Investment Questionnaire and proof of address until your deposits pass $1,000 in total. At that point Article IV.6 requires every document at once. The questionnaire is the part that asks whether leveraged trading suits you.

Why this matters

You can be trading with real money before anyone asks about your experience. The paperwork then arrives as a demand once you have already deposited $1,000.

Exhibit 15WarningHarder than usual$1000

An exception to the requirement stated under point 6. is the Smart Onboarding System where the client is not required to provide documentation or details under letters e) and g) of this point, unless the Client deposits over USD 1,000 cumulative amount at which point they are obliged to meet each requirement of point 6.
Clause IV.6 in Vestrado Terms and Condition, p.11
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA and CySEC must assess whether a retail client understands CFDs before that client trades them. This contract defers the questionnaire until cumulative deposits pass $1,000.

vestrado is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Article XI.2 lets Vestrado ask you to prove your religion before it grants a swap-free account. Article XVIII.3 says Vestrado collects your data for marketing, shares it with affiliates and business partners, and that you give express permission by agreeing to the contract.

Why this matters

Your faith becomes a file Vestrado holds, on a contract governed by St Vincent and the Grenadines law. The sharing consent is written as already given, so there is no box to leave unticked. We could not read the Privacy Policy, because it is published as a scanned picture.

Exhibit 16WarningHarder than usual

VESTRADO reserves the right to request any proof of religion or respective declaration with regard to the client's request for an Islamic Account.
Clause XI.2 in Vestrado Terms and Condition, p.22
Read from the broker's site on Open the reference

Logging in without trading carries a charge

Article X.4 lets Vestrado levy a charge for making real-time prices available if you access the account repeatedly over an extended period without placing orders. No amount, no threshold and no definition of an extended period appears in the clause. Article XIII.1(f) makes three months of inactivity a reason to close the account, while the Why Us page advertises zero fees.

Cost of waiting1 clause flagged

Article X.4 lets Vestrado charge you for looking at live prices if you log in repeatedly over an extended period without placing orders. The clause sets no amount, no threshold and no definition of an extended period. Three months of inactivity is separately a reason to close the account.

Why this matters

Watching the market while you wait for a setup is normal, and here it carries a charge Vestrado sizes itself. Vestrado's own pages advertise zero fees and say it covers third party transaction fees for you.

Exhibit 12WarningRarely seen

Data feed charge: VESTRADO reserves the right to levy a reasonable charge to reflect our costs in making real-time prices available to you on your Account if you repeatedly access your Account over an extended period without placing any Orders and executing trades on the Account.
Clause X.4 in Vestrado Terms and Condition, p.21
Read from the broker's site on Open the reference
Our own capture of vestrado.com, taken on Aug 27, 2026The claim, on Why Us page, under the heading Zero FeesThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of vestrado.com, taken on Aug 27, 2026What the contract says, clause X.4Visit this page on the broker's siteDownload the full size image file

Our readingData feed charges are normal on professional terminals, where the client picks the subscription. Reserving one against a retail account, with no amount and no trigger point, leaves the client unable to work out what inactivity costs.

An SVG company, no regulator named, three documents missing

A Vestrado client contracts with VESTRADO Limited, registered in St Vincent and the Grenadines under number 25911 BC 2020, under SVG law. No document we read names a financial regulator, a licence number or a compensation scheme. Article I.10 makes an Anti Money Laundering Policy, a Trading Execution policy and a FATCA and CRS document part of your contract, and none of the three is published anywhere on the site.

Who you contract with2 clauses flagged

Article I.10 makes seven documents part of your contract, including an Anti Money Laundering Policy, a Trading Execution policy and a FATCA and CRS document. None of those three is published anywhere on Vestrado's site. Every legal file except the Terms and Conditions is a scanned picture with no text in it.

Why this matters

You cannot read three of the documents you are bound by, and you cannot search the others for the word fee. Vestrado also sells copy trading with no copy trading agreement at all.

Exhibit 18WarningHarder than usual

It is entered into by VESTRADO and the Client and includes the legal documentation considered to be an integral part of the Contract, namely account application filled by the Client, these Terms and Conditions, Full Risk Warning, Anti Money Laundering Policy, Trading Execution, FATCA & CRS and Privacy Policy as updated from time to time and available on VESTRADO website.
Clause I.10 in Vestrado Terms and Condition, p.3
Read from the broker's site on Open the reference

You contract with VESTRADO Limited in St Vincent and the Grenadines. The Terms and Conditions name no financial regulator, no licence number and no compensation scheme. Article XVI.7 confirms the trading is not on a regulated market or exchange.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

There is no supervisor named in your contract to escalate to, and no fund that pays you out if Vestrado fails. Whether any advertised licence is real and current is a question for the scam investigation.

Exhibit 17NoticeStandard wording

Investment Services in relation to Financial Instruments shall be governed by the laws of SVG.
Clause XIX.1 in Vestrado Terms and Condition, p.29
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The page promises segregation while the contract has you authorise the use of your money as collateral for third parties.

Said in public, in English

Trade confidently with Vestrado, knowing your funds are exceptionally secured through segregation and regulation by the Saint Vincent and the Grenadines Financial Services Commission.

Why Us page, under the heading Unrivalled Protection

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of vestrado.com

In the contract · clause VII.4

The Client hereby acknowledges and authorizes VESTRADO to use their funds as collateral/security deposit to Third Party Service providers.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of vestrado.com

02

The page says the accounts are segregated client accounts, the contract says they are held on Vestrado's behalf.

Said in public, in English

All transactions are protected by a series of security measures, and all client funds are kept in segregated accounts at top-tier banks.

Deposit and Withdrawal page, opening paragraph

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of vestrado.com

In the contract · clause V.8

The Client hereby acknowledges that the funds deposited by the Client on the Client Account are kept in one or more accounts held with a financial institution on behalf of VESTRADO.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of vestrado.com

03

Seconds including weekends on the marketing page, five working days in the contract.

Said in public, in English

Your funds are available within seconds, even on weekends.

Why Us page, under the heading Instant Withdrawal

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of vestrado.com

In the contract · clause VII.4(e)

VESTRADO reserves the maximum period of five working days, starting at the moment of placing a withdrawal request by Client before the funds are transferred to the Transaction Account of Client.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of vestrado.com

04

The page names a regulator, the contract tells you the trading is not on a regulated market.

Said in public, in English

Trade confidently with Vestrado, knowing your funds are exceptionally secured through segregation and regulation by the Saint Vincent and the Grenadines Financial Services Commission.

Why Us page, the only regulator named anywhere on the site

In the contract · clause XVI.7

The Client understands and recognizes that the transactions to be conducted pursuant to this Contract are not conducted on a regulated market or exchange.

05

The promotion says the bonus boosts equity so you can trade bigger, and the contract lets Vestrado remove that equity whenever it decides.

Said in public, in English

No, the bonus itself is non-withdrawable. However, all profits you make while trading with the bonus are fully withdrawable. The bonus simply boosts your equity so you can open larger positions and maximize opportunities.

100% Recharge Bonus page, answer to Can I withdraw the bonus

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In the contract · clause VII.3

This Credit shall be removed anytime according to the decision of VESTRADO. The Client is not entitled to the legal claim of Credit assignation.

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06

Any way you prefer on the page, one registered account and one currency in the contract.

Said in public, in English

Access your funds anytime and in any way you prefer, with no additional fees.

Why Us page, under the heading Take control of your money

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In the contract · clause VII.4(b)

All withdrawals must only be made to Transaction Account(s) or otherwise the request for withdrawal will be rejected by VESTRADO;

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07

Zero fees on the page, and a charge in the contract for viewing prices without trading.

Said in public, in English

We handle all third-party transaction fees for you.

Why Us page, under the heading Zero Fees

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In the contract · clause X.4

Data feed charge: VESTRADO reserves the right to levy a reasonable charge to reflect our costs in making real-time prices available to you on your Account if you repeatedly access your Account over an extended period without placing any Orders and executing trades on the Account.

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The documents this reading is based on

7 files, all published by vestrado. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording vestrado publishes.

How this reading was done

Every clause above was read out of a document vestrado publishes itself

This reading was published on .

Documents
1 of 7downloaded from the broker's site, and one read in full
Pages opened
22pages walked to find those documents, footer links included
Older copies
3earlier versions downloaded, 3 identical to the copy we hold by fingerprint
Marketing pages
10public pages set against what the contract says

Who the contract is with

VESTRADO Limited

You contract with VESTRADO Limited, registered in St Vincent and the Grenadines under number 25911 BC 2020. The Terms and Conditions name no financial regulator and no licence number. The authority the contract cites is the Business Companies (Amendment and Consolidation) Act, the law companies are incorporated under, not a trading licence. Article XVI.7 tells you the trading is not on a regulated market. Vestrado's footer adds a second address in Sandton, South Africa for the same company, and its bonus page shows an FSCA badge, but the contract we read names no South African entity and no licence. Governing law is St Vincent and the Grenadines, and arbitration sits in Vienna. For whether any licence is real and current, read the scam investigation.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

Vestrado gives one week of written notice before it changes a fee, in Article X.2. That beats brokers who publish a new fee schedule and call it notice. Article XXIII puts a real limit on a stuck deposit: Vestrado must report a pending deposit within one business day, and after 20 calendar days the money goes back to the sender. The margin close-out level in Article IX.1(f) is 50% of required margin, the level European regulators set for retail accounts. Article XIII.2 obliges Vestrado to explain why it closed an account if you ask. Article XX.5 keeps Vestrado liable for its own gross negligence and wilful misconduct. The leverage page also points readers to the contract about leverage changes rather than hiding the point.

We read the Terms and Conditions in full. We could not read six other legal documents. The General Risk Disclosure, the Privacy Policy and four bonus campaign terms are published as scanned pictures with no text inside them. Nothing here is quoted from those six. We found the four bonus documents ourselves on the promotion pages, because Vestrado's legal links do not list them. Vestrado's language menu offers more than twenty languages, but every translated address returns an error page, so we compared its marketing in English only. No Anti Money Laundering Policy, Trading Execution policy or FATCA and CRS document is published anywhere on the site, although Article I.10 makes all three part of your contract. There is also no copy trading agreement, and Vestrado sells copy trading.

How to check any of this yourself

Every quote above links to the vestrado file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document vestrado publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge vestrado on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Aug 27, 2026.

If you represent vestrado and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on vestrado. Whether its licence is real and current is a separate check on the broker profile.

Back to the vestrado profile