The Veracity Markets minimum deposit amount required to register a live trading account is $250. This minimum deposit is equivalent to R 4 000.00 ZAR at the current exchange rate between the US Dollar and the South African Rand at the time of writing.
Veracity Markets minimum deposit
| 🔎 Account Features | 🥇 Standard account | 🥈 Fixed account | 🥉 ECN account | 🥇 Demo account |
| 💰 Minimum deposit | $250 / ZAR R4 000 | $250 / ZAR R4 000 | $250 / ZAR R4 000 | No minimum deposit |
| 📈 Spreads | Floating from 1.6 pips | Floating from 2 pips | Floating from 0.00 pips | Floating from 0.6 pips |
| 📊 Commission | $0 / ZAR R0 | $0 / ZAR R0 | $7 / ZAR R112 lot Only FX & Metals* | $0 / ZAR R0 |
| 📈 Leverage | 1: 500 | 1: 500 | 1: 500 | 1 : 500 |
| 📊Order Volume (lots) | 0.01 - 250 (lot) | 0.01 - 250 (lot) | 0.01 - 250 (lot) | 0.01 - 500 (lot) |
| 📲 Platforms | MT4 | MT4 | MT4 | MT4 |
| 📈 Maximum open positions | Unlimited | Unlimited | Unlimited | 200 |
| 🔥 Expert Advisers | Yes | Yes | Yes | Yes |
| ☪️ Islamic swap-free account | Yes | Yes | No | No |
All client funds with Veracity Markets are kept in segregated accounts as required and the broker also offers negative balance protection to its traders.
Min Deposit
USD 250
Regulators
FSCA
Trading Platform
MT4
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Veracity Markets fees and spreads review- 6 Key Point Overview
- ✔️Veracity Markets minimum deposit
- ✔️Veracity Markets fees and spreads review- 6 Key Point Overview
- ✔️Veracity Markets Pros and Cons
- Deposit fees and deposit methods
- Step by step guide to depositing the minimum amount
- Veracity Markets at a glance
- Frequently asked questions
Veracity Markets is regulated and authorized through the Financial Sector Conduct Authority in South Africa (FSCA), which is the highest financial regulator in Africa that supervises all non-banking financial services, which include brokerage firms.
Veracity Markets Pros and Cons
| ✅ Pros | ❌ Cons |
| Multiple base currencies to choose from | Currency conversion fees may apply |
| No deposit fees charged | Fairly high minimum deposit required |
| Regulated through FSCA | |
| Reliable payment methods offered |
Deposit fees and deposit methods
When compared with other brokers, the minimum deposit that Veracity Markets requires when registering a live account is quite high.
Veracity Markets offers traders the following payment methods which can be used when making deposits:
- Local deposits/transfer options offered by banks such as ABSA bank, Investec, Nedbank, Standard Bank, Capitec, FNB, TymeBank and African Bank
- Debit cards
- Credit cards
- Instant EFT
- OZOW
- Neteller
- Skrill
Deposit currencies that are accepted include USD, EUR, GBP, AUD, NZD, CHF, XAU, XAG, ZAR, JPY, CAD, and NOK.
Veracity Markets does not charge any deposit or withdrawal fees, but traders must, however, ensure that they verify whether their financial institution waives its own fees as there may be additional fees payable.
These often depend on the payment method used as well as the amount which is deposited into the trading account.
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Step by step guide to depositing the minimum amount
Depositing the minimum amount of $250 / ZAR R4 000 in Veracity Markets can be done by following these 3 simple steps:
Step 1: locate the sign-up on the Veracity dashboard.
Step 2: Fill in registration details
Step 3: fill out confirmation pin
Traders must provide proof of id along with proof of address and complete their economic profile before their registration can be completed. This forms part of a ‘know your client (kyc) process as part of anti-money laundering (AML) procedures with which brokers must comply to ensure the safety and security of traders.
Traders must log in to their personal area, select the option for deposits, and follow the instructions to make a deposit into their trading account. Traders must ensure that they select the correct deposit currency before they make a deposit.
Funds must be transferred in the same currency as the bank account to which they are sending them. Should this not be done, traders may be subjected to currency conversion fees.
Veracity Markets at a glance
| 📌Broker's name | Veracity Markets |
| 📍Headquartered | Cape Town, South Africa |
| 📅Year founded | 2020 |
| 📝Regulating authorities | Fsca |
| ❌Countries not accepted for trade | United Kingdom, Australia, Belgium, France, Iran, Japan, North Korea, and the USA |
| 📈Islamic account (swap free) | Yes |
| 📈Demo account | No |
| 📈Institutional accounts | No |
| 📈Managed accounts | No |
| 📊Maximum leverage | 1: 500 |
| 💰Minimum deposit | $250 / ZAR R4 000 |
| 💸Deposit options | Local deposits/transfer options offered by banks such as absa bank, investec, nedbank, standard bank, capitec, fnb, tymebank and african bank. Debit cards Credit cards Instant eft Ozow Neteller Skrill |
| 💸Withdrawal options | Local deposits/transfer options offered by banks such as absa bank, investec, nedbank, standard bank, capitec, fnb, tymebank and african bank. Debit cards Credit cards Instant eft Ozow Neteller Skrill |
| 📈Platform types | Metatrader4 and metatrader5 |
| 📲Os compatibility | Pc, mac, android, and ios devices |
| 💰Tradable assets | Forex pairs Online instruments Indices Commodities Metals Shares |
| 🌍Languages supported on website | English as well as multiple other languages |
| 📞Customer support languages | English as well as multiple other languages |
| 📞Customer service hours | 24/7 |
| ☪️ Islamic swap-free account | Yes |
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Frequently Asked Questions
What is the minimum deposit for Veracity Markets?
The minimum deposit for Veracity Markets is $ 250/ ZAR R4 000
What are the deposits methods for Veracity Markets?
Deposits and withdrawals can be made via: Local deposits/transfers offered by banks such as ABSA, Investec, Nedbank, Standard Bank, Capitec, FNB, TymeBank and African Bank, Credit and Debit cards, Instant EFT, OZOW, Neteller and Skrill
How long does it take to make a withdrawal?
Withdrawing funds from Veracity Markets can be done from Monday to Friday from 09:00 to 17:00, GMT +2 (South African Standard Time). All requests are processed within 24 – 48 hours.
Does Veracity Markets charge withdrawal fees?
No. Veracity Markets does not charge any withdrawal fees but there may be fees waived by the trader’s bank.
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