Vestle (ex iFOREX) is the trading name of iCFD Limited, a company that is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 143/11.


Vestle offers over 800 financial instruments for trading such as Currency pairs (Forex), Commodities, Indices, Shares, and Crypto based CFDs. The minimum spread for the EUR/USD spread is 0.7 pips and the average one is 2 pips, which is relatively high value. However, the spread of Bitcoin is about USD50, which is at the lower range of values.

Account types

Accounts can be deposited by several ways, including bank deposits, credit cards, PayPal, and Discover. There is no minimum deposit required but the company explains that the minimum deal size for currency pairs is USD2500 and this means a minimum deposit amount of USD100 with leverage 30:1. There is a USD15 inactivity fee if you have not traded for at least 12 months.

There are three types of accounts. The Specialized trader account offers ‘just a few categories of instruments’ The Diversified portfolio trader account is intended for those who diversify their portfolio as a way of managing risk. The last one is All in one trader account. It ‘integrates and implements different trading strategies.’

The company has developed its own web-based trading platform called ‘FXnet.’ It is personalized and specially created to assist you in the investment process, the company said. If you prefer to trade using your smartphone, the Vestel app is available on the App Store and Google Play.

Security and protection

All retail clients are covered by the Negative Balance Protection program, which means that you can never lose more than you deposited; nonetheless, a small market movement can result in a substantial loss of funds. Market orders are subject to slippage and if there is a substantial difference between the requested and the real price, the order will be rejected. Limit orders are also subject to slippage and they will be filled at the first available price.

Market Maker or STP ?

The Client Agreement document informs that ‘In relation to any orders placed with the Company, the Company will process such orders either as broker (agent) or Market Maker (principal). For clarity purposes it is noted that the Company may act both as principal and agent. So surely the company can act as a market maker when it decides. This is not so bad because of the company regulation, but it leads to a conflict of interest.

We can conclude that Vestle is an EU-regulated brokerage firm that offers many trading assets, but the conditions are not as competitive as other companies. You get protection against a negative balance, but you will probably be dealing with a market maker.


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