What do you know about Vanuatu? Chances are, not a lot. The Republic of Vanuatu is an archipelago located in the South Pacific Ocean, and its overall territory only reaches 12 189 square kilometers. The country is best known for being a vacation spot, and the local tourism industry attracts visitors from all over the world every year.
But is there more to Vanuatu than merely the dreamy beaches and the vibrant culture? Turns out, there truly is a lot more to it. The country is regarded as a tax haven, which, consequently, provided a boom to the financial services that Vanuatu offers to the offshore companies.
On top of that, the local Forex market is developing at a rapid speed – so much so, that the local authorities realized the need to have it regulated properly and dedicated a separate entity to perform this task.
Below, we will have a closer look at the country’s field of Forex trading, the opportunities that the local economy has to offer, as well as the main regulatory body there, top Forex brokers in Vatuanu, and more.
As the Forex market in Vanuatu is still relatively young, we took it upon ourselves to conduct thorough research of the best brokerages available in the country. to make the process of choosing one easier for you.
What we have mainly focused on is the broker’s success rates, the payment systems, and trading platforms that it offers, tools, and instruments of trading available. additional safety measures and more.
You will be able to get a closer look at the result of our efforts below, and you can be sure that the brokers that are listed there are beyond reliable, and, in choosing to trade with them, you are guaranteed to have your funds safe at all times.
CySEC, IFSC, ASIC
CySEC, FCA, FSA
100 currency units
CIMA, FCA, NFA
The main regulatory body in Vanuatu is the Vanuatu Financial Services Commission established in 1993. This entity, together with the Reserve bank of Vanuatu, is responsible for overseeing the smooth and secure functioning and development of the country’s financial sector, including banking, relevant companies, and, of course, the local Forex market.
As mentioned earlier, Vanuatu’s image of the tax haven and the welcoming business environment has attracted numerous international Forex brokers, who wished to offer their services to the local traders – with the Australian and New Zealand brokers being among the most popular ones.
With the Forex trading in Vanuatu on the rise and the influx of Forex brokers that is only growing in speed, one can easily see why this is the right place to be for FX enthusiasts. On top of that, unlike in many other countries in the world, Vanuatu does not put in caps on the maximum leverage and one can use it even if it reaches as much as 1:1000.
Although an experienced broker aware of the potential risks can profit from such a permissive regulatory environment, we suggest that if you are a beginner, you are better off abstaining from using leverage until you gain a sufficient amount of experience and knowledge.
When it comes to the trading software, you will find that here too, there is a variety to choose from. Depending on the brokerage, you will find anything ranging from the software created specifically for a certain broker to the more popular options such as the MetaTrader4, MetaTrader5, cTrader, and others.
It is hard to give a clear answer to which trading software is best to use, as it depends heavily on factors such as one’s individual needs in trading, experience, and personal preference. One can nevertheless note that MT4 and MT5 are extremely popular among brokers from all over the world as well as the Vanuatu Forex brokers in 2020.
This software is both efficient and reliable, and the enhanced MT5 version of the original MT4 is even more favorable than its predecessor. Moreover, if you are new to trading Forex, you will easily find some extensive guides, tutorials, and discussions on how best to use this particular platform. In the long run, having those sources to refer to will help you build skills and confidence in no time.
The regulatory environment in this country does not prohibit the provision of bonuses, which means that by choosing any of the top Forex brokers in Vanuatu you will have an access to the tokens that will kickstart your trading sessions.
There are two main types of bonuses, that we have summarized briefly below:
Overall, by having the bonuses available to both the traders and the brokers that provide them, Vanuatu does contribute significantly to the growth of the local FX market, as such bonuses are commonly regarded as a great tool for the broker that wishes to expand and sustain its customer base.
With a population of a little over 300 000 people, the country’s GDP amounts to 820 million USD. The national economy is quite diverse, as it is boosted by sectors such as financial services, tourism industry, agriculture, and cattle. The main goods that the country exports are beef, timber, cocoa, kava, and copra.
When it comes to FX trading, the main benefit that the national economy has to offer is the high level of development of the financial sector – a notion that is well demonstrated by the existence of the local regulatory body, despite the relatively small sizes of the Vanuatu Forex trading market.
The national currency of Vanuatu is the Vanuatu vatu or the VUV. Although not particularly popular among the traders elsewhere in the world, the VUV is actively used by the local traders. It is considered to be an exotic currency and is often overlooked by both beginners and experienced traders alike, who tend to choose more popular currency pairs instead.
Should you decide to trade the national currency, we suggest that in looking for the best Forex broker in Vanuatu to join, you carefully check whether or not they accept payments in it. Another factor to take note of is the variety of payment methods that the broker has to offer.
In Vanuatu, you will be able to find anything from debit/credit card payments to the E-currency and wire transfers. There are advantages and disadvantages to any of those, and ultimately you should choose what works best for you.
Any legal adult in Vanuatu can get into Forex trading there. The overall process is fairly easy and straight-forward, and once the trader manages to meet the requirements of their respective broker, they will be able to start trading immediately.
The only other requirement that one should keep in mind is the minimum amount of the initial deposit that they have to make. There is no clear regulation as to what this amount should be and some of the best online trading platforms in Vanuatu will have it ranging from 5 USD all the way up to 500 USD.
You should only deposit what you are comfortable with, and, thus, look for the brokerage the deposit requirements of which satisfy you.
It most definitely is. Despite the country and its national economy being relatively small, the financial sector there is well-developed and the Forex market is properly regulated. Nevertheless, the country permits high leverages and the provision of bonuses which means that the opportunities for profits are plentiful.
Among the Vanuatu Forex brokers in 2020, you will be able to find both those licensed locally, and the international brokerages that obtained a license from reputable bodies such as the Cyprus-based CySEC or the UK’s FCA. Both local and foreign brokers can be trusted, however, our general advice here would be to always contact the relevant regulatory body and check whether the broker is, truly, its official licensee.