Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighGenuine FSC Mauritius dealer licence, but the FSCA and UAE licences are intermediary or promotion only, and ten regulators in nine jurisdictions warn VT Markets is not authorised there.
Identity & transparency
3/10 · LowNames, numbers and addresses match the Mauritius, South African and UAE registers and the site states each licence's limits; only small inconsistencies, such as how the Cyprus company's role is described.
Withdrawals & conduct
7/10 · HighSpecific, repeated reports on Trustpilot and BrokersView of profits cancelled and withdrawals held for months; no fee demands to release funds, and the broker replies and sometimes releases payments.
Reputation
7/10 · HighTrustpilot made the rating unavailable after removing fake reviews, 30% of 2,901 reviews are one-star, and ten regulators have issued warnings; offset by a large real client base and public replies.
Website claims
4/10 · ModerateLicence limits are disclosed honestly, but EU-branded pages and a Premier League partnership market the service where it has no authorisation, and its client and asset figures cannot be checked.
Operational history
6/10 · HighSouth African company from 2015 and vtmarkets.com from 18 December 2017, used continuously under one brand; the Mauritius contracting company was licensed in October 2023.
Who they are
A quick desk file on the company behind the brand.
- Brand: VT Markets
- Legal entity: VT Markets Limited, the Mauritius company the client agreement (version December 2025) names as your counterparty.
- Registered: 40 Silicon Avenue, The Catalyst, Level 2, Suite 201, Ebene, Mauritius, as shown on the FSC register.
- Other group companies: VT Markets (Pty) Ltd in South Africa (FSP 50865, company 2015/072049/07, Sandton); its Dubai branch (UAE Capital Market Authority, Boulevard Plaza Tower 1, established 13 June 2023); VTMarkets Ltd in Cyprus (HE 436466, registered 13 July 2022, no licence).
- Website: vtmarkets.com, registered 18 December 2017, plus mirror sites vtmarkets.net, vtmarketsglobal.com and the Italian vtmarkets-it.com.
- Only licence to deal: FSC Mauritius Investment Dealer (Full Service Dealer excluding Underwriting), licence GB23202269.
- Offers: CFDs on forex, indices, energies, metals, soft commodities, ETFs, shares and bonds through MetaTrader 4, MetaTrader 5, a web platform, its own app and copy trading, plus welcome and deposit bonuses.
- Not accepted: the site says it does not serve the United States, Singapore, India, Hong Kong, Russia or countries on the FATF list or under sanctions.
- Age claim: 'Since 2015', which matches the 2015 registration of the South African company.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Financial Services Commission (FSC) of Mauritius
Financial Sector Conduct Authority (FSCA), South Africa
UAE Capital Market Authority (CMA), formerly the Securities and Commodities Authority
The Financial Commission
Why we reached this verdict
How the evidence adds up.
The deciding facts come from regulators, not from reviews. VT Markets is licensed to deal only from Mauritius, yet it markets to countries where it has no permission, and regulators in those countries have said so publicly.
- FCA warning: the UK Financial Conduct Authority lists 'VT Markets / www.vtmarkets.com', with the email info@vtmarkets.com, as a firm that is not authorised and may be targeting people in the UK. The entry was first published on 21 June 2023 and last updated on 2 September 2025. VT Markets also promotes a partnership with Premier League club Newcastle United.
- Other regulators agree: Hong Kong's SFC added VT Markets (Pty) Ltd, VT Markets Limited and two related names to its Alert List on 10 July 2026. Belgium's FSMA lists vtmarkets.com and vtmarkets.net among trading platforms whose offers it strongly advises against, on its warning page about fraudulent trading platforms. Warnings from Quebec, Denmark, British Columbia, Spain, Malaysia and Japan also name the brand or its domains.
- Blocking orders sidestepped: CONSOB Resolution 23566 of 21 May 2025 ordered Italian access to vtmarkets.com and vtmarkets.net blocked. The domain vtmarkets-it.com was registered on 5 June 2025 and carries the same company details. CONSOB blocked vtmarkets-it.net in November 2025 and vtmarkets-it.com in February 2026.
- Money complaints follow one pattern: clients report profits cancelled for 'suspicious trading', accounts locked after a profitable run, and withdrawals held for weeks or months while more documents are requested. The client agreement allows this. It lets VT Markets void orders and cancel profits for broadly defined suspicious trading, which includes using excessive leverage or sharing an IP address with another client.
- How the number is set: our six-part scorecard averages 54%. Under our method, a warning from a top-tier regulator naming the firm's own website sets a minimum of 70%, so 70% is the figure we publish.
- What we did not find: no clone, no borrowed licence, no demand for fees to release a withdrawal, and no court ruling, fine or enforcement action for fraud naming VT Markets.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The UK FCA Warning List names 'VT Markets / www.vtmarkets.com', email info@vtmarkets.com, websites www.vtmarkets.com and www.tryvtmarkets.com, as a firm that is not authorised and may be targeting people in the UK. First published 21 Jun 2023, last updated 2 Sep 2025.
Hard proofFCA Warning ListE2CONSOB Resolution 23566 of 21 May 2025 ordered Italian access blocked to www.vtmarkets.com, www.vtmarkets.net, myaccount.vtmarkets.net and social.vtacademy.net, attributed to VT Markets Limited of Mauritius, for offering investment services in Italy without authorisation. Same evidence family as E1.
E3CONSOB's notice of 13 Feb 2026 ordered www.vtmarkets-it.com and myaccount.vtmarkets-it.com (VT Markets Limited) blocked; CONSOB had also blocked vtmarkets-it.net in Nov 2025. Domain records show vtmarkets-it.com was registered on 5 Jun 2025, 15 days after the first order, and at the time of writing it still served an Italian VT Markets site with the group's legal footer and login links.
E4The SFC Alert List (added 10 Jul 2026) lists VT Markets, VT Markets (Pty) Ltd, VT Markets Limited and VT Markets Ltd as unlicensed entities, with websites vtmarkets.com, vtmarketsglobal.com and vtmarkets.net, and says they may not market regulated services to the Hong Kong public. Same evidence family as E1.
StrongSFC Alert ListE5On its warning page about fraudulent trading platforms, Belgium's FSMA lists 'VT markets (https://www.vtmarkets.com, https://www.vtmarkets.net)' among trading platforms whose offers it strongly advises against. Same evidence family as E1.
StrongFSMA warning pageE6IOSCO's I-SCAN alert database shows more alerts naming VT Markets or its domains: Quebec AMF (20 Feb 2026, vtmarkets.com), Danish FSA (warning dated 30 Sep 2024, vtmarkets.com), Malaysia's Securities Commission (7 May 2024), Japan's FSA (2 Jun 2023) and Spain's CNMV (vtmarkets.com/es in Aug 2021, vtmarkets.net/es in Oct 2024). Same evidence family as E1.
StrongIOSCO I-SCANE7The British Columbia Securities Commission cautions that VT Markets (vtmarkets.com, vtmarkets.net) is not registered to trade or advise on securities or derivatives in BC, despite accepting BC residents as clients (30 Apr 2024). Same evidence family as E1.
E8VT Markets runs a site titled VT Markets EU in English, Spanish, French, Italian, Polish, Portuguese, Swedish and Dutch, and promotes a partnership with Newcastle United, although its only licence to deal is from Mauritius and it holds no UK or EU authorisation.
E9One-star Trustpilot reviews from Sep to Oct 2026 describe profits removed and withdrawals held under review, often with account numbers and amounts: account 34005802 with USD 747.69 deducted after a profit, account 16162102 with all profits deleted and deposits blocked, and withdrawal requests of 15 and 19 Sep 2026 still pending.
E10A BrokersView complaint of 24 Jul 2026 (MT4 27690846, UID 1772501) reports USD 2,838 of profit removed on internal risk-control grounds with no trade logs provided. An earlier complaint on the same page (9 Apr 2025) reports a USD 520 withdrawal rejected after a profit.
ModerateBrokersView complaintE11The VT Markets Limited client agreement (Dec 2025) lets the company suspend accounts, 'void the Client's Orders and cancel any associated profits' for suspicious trading activity. Its examples include use of excessive leverage, scalping and sharing an IP address with another client, and the agreement allows withdrawals to be withheld at the company's discretion. Governing law is Mauritius.
E12Trustpilot shows that the company's rating is unavailable due to a breach of its guidelines and says it removed a number of fake reviews. Of 2,901 reviews, 61% are five-star and 30% one-star, with little in between.
ModerateTrustpilot, vtmarkets.comE13The FSC Mauritius register lists VT Markets Limited as an SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting), licensed 23 Oct 2023, at 40 Silicon Avenue, The Catalyst, Ebene, the address on the broker's site. The register prints no licence number; GB23202269 comes from the broker's documents.
Hard proofFSC Mauritius Online Public RegisterE14The FSCA register shows FSP 50865, VT MARKETS (PTY) LTD, company 2015/072049/07, authorised 9 Sep 2020, at Norwich Place West, Sandown, Sandton, matching the site. Approved products are Category I advice and intermediary services for derivatives and forex, not dealing as principal.
StrongFSCA FAIS registerE15The UAE Capital Market Authority register lists VT Markets (PTY) Ltd-Dubai Branch as Active, with email hr-dubai@vtmarkets.com and Introduction and Promotion licences. The register adds a notice that the company holds only a Category 5 licence and is not licensed for brokerage in derivatives or spot FX.
E16The broker's own regulatory text states the licence limits accurately: the South African FSP acts only as an intermediary for VT Markets Limited, the Dubai branch cannot provide brokerage or execute trades, and the Cyprus company offers no regulated products.
Moderatevtmarkets.com Legal HubE17Domain records show vtmarkets.com registered on 18 Dec 2017 and vtmarkets.net on 22 Dec 2017, and the South African company number shows a 2015 registration, which supports the claim of operating since 2015 under one brand.
E18The Cyprus Registrar of Companies lists VTMARKETS LTD, HE 436466, a private company registered on 13 Jul 2022 with status registered. It confirms the company exists; it is not a licence.
E19The Financial Commission lists VT Markets as an active member since 30 Jan 2024, with free complaint handling and a compensation fund of up to 20,000 euros per client. It is a private body, not a regulator.
E20VT Markets replies to Trustpilot complaints, and several reviewers say held withdrawals were later released, one after about eight months and one after 20 days of review.
E21A CySEC warning of 14 Nov 2024 naming vtmarkets.com and vtmarkets.net as websites not linked to an authorised entity was reported by Finance Magnates. It does not appear in CySEC's own 2024 announcements or warnings lists today.
E22VT Markets does not claim an Australian licence. ASIC's licensee data shows AFSL 516246, which some older reviews credit to the brand, is held by CentFX Global Pty Ltd (named VT Global Pty Ltd from Sep 2022 to Jun 2025) and limited to wholesale clients.
The other side
The strongest case in this broker’s favour.
There is a real case for VT Markets, and readers should weigh it.
- It is a genuine, licensed business: the FSC Mauritius register lists VT Markets Limited as an Investment Dealer at the address the website gives. The South African and UAE registers match the group's other companies. This is not a fake platform or a clone.
- It is honest about its licences: the website states plainly that the South African company only acts as an intermediary, that the Dubai branch cannot execute trades, and that the Cyprus company offers no regulated services.
- It has a long, continuous history: the South African company dates from 2015 and vtmarkets.com from December 2017, under the same brand throughout.
- The warnings are about permission: regulators say VT Markets is not authorised in their countries. None of the warnings we read accuses it by name of keeping client money, and we found no enforcement action or court case for fraud.
- Many clients do get paid: about two thirds of its 2,901 Trustpilot reviews are positive. VT Markets replies to complaints publicly, and some held withdrawals were released after review.
- There is an outside complaints route: VT Markets has been a member of the Financial Commission since 30 January 2024. Clients can file disputes there free of charge and claim up to 20,000 euros from its compensation fund.
- One warning has gone: a CySEC warning of November 2024 naming vtmarkets.com was reported in the trade press but no longer appears on CySEC's published lists.
What would change this
What we would need to see to revise the verdict.
Our rating would fall if the regulatory picture or the complaint pattern changed. It would rise if the money problems grew.
- VT Markets obtaining authorisation in the UK or the EU, or clearly stopping its marketing there, followed by the FCA and CONSOB withdrawing their warning and blocking orders.
- A licence to deal for the contracting company from a top-tier regulator such as the FCA, ASIC or CySEC.
- Taking down the Italian mirror sites, with no new domains appearing after blocking orders.
- Trustpilot restoring the company's rating, and a sustained drop in complaints about cancelled profits and held withdrawals.
- Narrowing the client agreement's 'suspicious trading' clause so that profits cannot be cancelled for things like using high leverage.
- In the other direction, a regulator or court action over withheld client money, or demands for payment to release funds, would push the rating higher.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
FSC Mauritius register: VT Markets Limited
Confirms the Investment Dealer licence of the company you contract with. VT Markets publishes no direct register link, so this search link was built from the register itself.
FSCA register: FSP 50865
Shows the South African authorisation and that it covers advice and intermediary services only.
UAE Capital Market Authority register: VT Markets Dubai Branch
Shows the Category 5 introduction and promotion licence, and the regulator's notice that it is not a brokerage licence.
FCA warning: VT Markets
UK regulator warning that VT Markets is not authorised in the UK.
SFC Alert List: VT Markets
Hong Kong regulator lists the four VT Markets company names as unlicensed.
CONSOB blocking order no. 23566
Italian regulator order of 21 May 2025 blocking vtmarkets.com and vtmarkets.net in Italy.
FSMA warning on fraudulent trading platforms
Belgian regulator page listing VT markets among platforms whose offers it strongly advises against.
IOSCO I-SCAN alerts for VT Markets
One page listing the regulator alerts that name VT Markets or its websites.
Danish FSA warning
Danish regulator warning that VT Markets is not authorised in Denmark.
BCSC investment caution
British Columbia regulator caution naming vtmarkets.com and vtmarkets.net.
Financial Commission member page
Confirms VT Markets' membership of this private dispute-resolution body and its 20,000 euro compensation cap.
VT Markets Legal Hub
The broker's own legal documents, including the Mauritius client agreement.
Frequently asked questions
Quick answers about this broker’s safety.
Is VT Markets a scam?
We rate VT Markets a likely scam at 70% risk. It is a real company with a genuine Mauritius licence, but ten regulators in nine jurisdictions warn that it operates there without permission. Clients also repeatedly report cancelled profits and withdrawals held for months.
Is VT Markets a fraud?
We found no court ruling, fine or enforcement action for fraud naming VT Markets. Belgium's FSMA does list vtmarkets.com among trading platforms whose offers it strongly advises against, on its warning page about fraudulent platforms, and the UK FCA warns that the firm is not authorised there. We assess the risk to client money as high.
Is VT Markets regulated?
Partly. VT Markets Limited holds an Investment Dealer licence from the Financial Services Commission of Mauritius, a low-tier regulator. Its South African authorisation (FSP 50865) and its UAE licence only cover intermediary, introduction and promotion work, not dealing with your money.
What is the FSC Mauritius licence worth?
It is a real licence, and the FSC register confirms that VT Markets Limited holds it. Mauritius has lighter rules than the UK, the EU or Australia, and no compensation scheme like the UK's FSCS. If something goes wrong, your claim is against a Mauritius company under Mauritius law.
Which regulators have warned about VT Markets?
Warnings naming VT Markets or its websites have come from the UK FCA, Italy's CONSOB (which ordered its sites blocked), Hong Kong's SFC, Belgium's FSMA, Quebec's AMF, the Danish FSA, the British Columbia Securities Commission, Spain's CNMV, Malaysia's Securities Commission and Japan's FSA. They say VT Markets is not authorised in those places.
Can I withdraw my money from VT Markets?
Many clients report normal withdrawals, but a steady stream report the opposite. They describe accounts locked after profitable trading, profits removed for alleged rule breaches, and withdrawals left under review for weeks or months while more documents are requested. The client agreement gives VT Markets wide discretion to cancel profits and hold back withdrawals.
Why do some clients say their profits were cancelled?
VT Markets' client agreement lets it void orders and cancel the profits on them if it decides a client engaged in suspicious trading. Its examples include scalping, using excessive leverage and sharing an IP address with another client. In the complaints we read, the reason given is often only a general reference to this clause.
Who owns VT Markets, and who is my contract with?
Accounts are opened with VT Markets Limited, a Mauritius company at 40 Silicon Avenue, Ebene. Group companies include VT Markets (Pty) Ltd in South Africa, its Dubai branch, and VTMarkets Ltd in Cyprus, which holds no licence. The pages we read do not name the group's ultimate owners.
How old is VT Markets?
The South African company was registered in 2015, and the main domain, vtmarkets.com, on 18 December 2017, so the brand has traded for close to nine years. The Mauritius company that now holds client accounts was licensed in October 2023.
Is VT Markets a clone?
No. The entries on the Mauritius, South African and UAE registers match VT Markets' own company names, addresses and email domain, and the regulator warnings name its real websites. The concerns are about how the genuine firm operates, not about an impersonator.
Can I use VT Markets in the UK or the EU?
VT Markets has no UK or EU licence. The FCA warns that it is not authorised in the UK, CONSOB has blocked its sites in Italy, and Belgium, Denmark and Spain have issued warnings. Its site tells visitors from Germany that it has no presence there, while offering pages in eight EU languages.
What should I do if VT Markets is holding my withdrawal?
Ask in writing for the exact clause and the trades involved, and keep copies of everything. Then file a free complaint with the Financial Commission, of which VT Markets is a member, and contact the FSC Mauritius and your own regulator. Do not pay anyone who promises to recover the money for a fee.
What should I check before depositing with any broker?
Find the company named in the client agreement and look it up on the regulator's own register, not just the logo on the website. Check whether your own country's regulator has issued a warning about the firm. Read the clauses on withdrawals, bonuses and cancelled trades before you send money.
What we recommend
The practical takeaway from everything above.
We advise against opening an account with VT Markets if you live where a regulator has warned against it. Everywhere else, treat it as a high-risk offshore broker.
- If you live in the UK, Italy, Belgium, Denmark, Spain, Quebec, British Columbia, Hong Kong, Malaysia or Japan, a local regulator has said VT Markets is not authorised there. You would have no local ombudsman and no compensation scheme.
- Whatever language the site is in, your contract is with VT Markets Limited in Mauritius, under Mauritius law.
- If you already trade there, withdraw profits regularly, keep records of trades and balances, and avoid bonuses, which add conditions to withdrawals.
- Before you trade, read the suspicious trading section of the client agreement. It is the clause cited when profits are cancelled.
- If a withdrawal is held, ask in writing for the exact clause and the trades concerned. Then complain to the Financial Commission, to the FSC Mauritius and to your own regulator.
- Ignore anyone who contacts you offering to recover your money for a fee. Recovery offers are a common follow-up scam.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 21, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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