Vittaverse tells you on its regulation page that every client deposit sits in a segregated account and stays available for withdrawal at any time. Clause 5.2 of the client agreement allows your money to be pooled in an omnibus account with other clients' money and the third party's own money.
Liquidity providers are outside banks and brokers.
Why this matters
If the firm holding that pool fails, clause 5.2 says you may have no claim against a specific sum in a specific account. The page that convinced you your capital was safe is not the document that decides what happens to it.
Exhibit 1Every flagged clause gets its own number so you can point at this one. The number does not change, so a link to it keeps working.CriticalHow much this clause can cost you, in our reading. Critical can take your money or your profit. Warning can delay or limit it. Notice is simply worth knowing before you sign.Harder than usualHow ordinary this wording looks next to the contracts we read. This is our reading of the clause, not a count of other brokers.
Client money may be held with third parties in an omnibus account, and it may not be possible to separate it from other clients’ money or the third party’s money. In an insolvency event, the Client may not have a claim against a specific sum in a specific account.
Firms licensed by the FCA or CySEC must hold retail client money in segregated client bank accounts, kept apart from the firm's own funds. This contract permits pooling with a third party's own money and warns you may have no claim on a specific sum.
VITTAVERSE is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.
- Worse together with Exhibit 6Read these two clauses together. Each one costs more because the other exists.You are promised a segregated account by a website that names three companies other than the one you contracted with.