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ForexVox

Seychelles|2-5 years|
Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|High potential risk|

https://www.forexvox.io/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

4
Server Name
ForexVox-Demo MT4
Server Location United States

Contact

support@forexvox.io
https://www.forexvox.io/en/
Unit B, F28 Eden Plaza, Eden Island, Victoria, Seychelles
https://www.facebook.com/forexvoxltd/

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Warning

ID BAPPEBTI
2023-04-20
Blocking 218 Website Domains, CoFTRA Reminds Investment Risks in Illegal Entities
ForexVox
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Danger

ID BAPPEBTI
2022-09-20
Bappebti Blocks 760 Website Domains, Reminds of the Risk of Transactions in Unlicensed PBK Entities
ForexVox
Fidelcrest
InstaForex

Broker Information

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Company Name

VALUTRADES (SEYCHELLES) LIMITED

Company Abbreviation

ForexVox

Platform registered country and region

Seychelles

Company website
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Warning: Low score, please stay away! 3
Previous Detection : 2024-03-02
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The SeychellesFSA regulation (license number: SD028) claimed by this broker is suspected to be clone. Please be aware of the risk!

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ForexVox · Company Summary

Aspect Information
Registered Country/Area Seychelles
Founded Year 1-2 years
Company Name VALUTRADES (SEYCHELLES) LIMITED
Regulation Claims to be regulated by Seychelles Financial Services Authority (License number: SD028), but there are suspicions of potential clone and lack of valid regulation. Exercise caution.
Minimum Deposit $100 (Standard Account), $500 (ECN Account)
Maximum Leverage Up to 1:1000
Spreads Not provided
Trading Platforms MetaTrader 5 (MT5)
Tradable Assets Forex (over 70 currency pairs), Indices, Commodities, Precious Metals
Account Types Standard Account, ECN Account, Swap-Free Account (Islamic Account)
Demo Account Available
Islamic Account Available for traders adhering to Sharia Law principles
Customer Support Email, contact form, social media presence (Facebook, Instagram, Twitter, LinkedIn, YouTube)
Payment Methods Mastercard, Visa, Stripe, Neteller, Alipay, AdvCash, UnionPay, Trustly, Sticpay, Remessa
Educational Tools 1-2-1 mentoring program with Adam Harris, market analyst and FX expert with over 35 years of experience

Overview of ForexVox

ForexVox is a company based in Seychelles, operating under the name VALUTRADES (SEYCHELLES) LIMITED. It claims to be regulated by the Seychelles Financial Services Authority (license number: SD028) as a retail forex broker, but there are suspicions that it may be a clone and lacks valid regulation. The market instruments offered by ForexVox include access to over 70 different currency pairs, world indices like DE30 and UK100, global commodities such as oil, and precious metals like Gold and Silver, all traded through their MetaTrader 5 (MT5) platform.

ForexVox provides two main account types: the Standard Account and the ECN Account, both offering leverage of up to 1:1000. The Standard Account has no commissions and requires a minimum deposit of 100 USD, while the ECN Account charges commissions and needs a higher recommended deposit of 500 USD. The company also offers a Swap Free Account for traders who follow Sharia Law principles.

ForexVox offers a range of bonuses, including a 100% Deposit Bonus and a 10% Floating Deposit Bonus, as well as special bonuses for STICPAY clients. The company supports over 10 payment methods for deposits and withdrawals. Additionally, ForexVox provides educational resources, including a 1-2-1 mentoring program with global market analyst and FX expert Adam Harris, who has over 35 years of experience.

basic-info

Pros and Cons

ForexVox offers a range of advantages and disadvantages for potential investors. On the positive side, the company claims to be regulated by Seychelles FSA, providing some assurance. Traders can access a diverse selection of over 70 currency pairs, as well as trade in world indices and commodities, including precious metals. The availability of a Swap Free Account option allows for compliance with religious beliefs. Additionally, the platform provides valuable educational resources, such as a 1-2-1 mentoring program, and supports the widely recognized MetaTrader 5 (MT5) trading platform. Moreover, various top-rated payment methods facilitate easy transactions. However, there are concerns regarding ForexVox's legitimacy, as suspicions persist about it being a clone broker. The offshore regulation by Seychelles FSA may add to the risk factor. Furthermore, the company offers a limited variety of market instruments and lacks specific information on spreads. Traders should exercise caution with the high leverage (up to 1:1000), as it can increase risk. The minimum deposit required for the ECN account is relatively high, which might be a drawback for some investors. Lastly, detailed information about customer support is not provided, potentially leaving traders uncertain about the level of assistance available.

Pros Cons
Claimed regulation by Seychelles FSA Suspicions of being a clone broker
Access to over 70 currency pairs Offshore regulation may add to risk
Trading in world indices and commodities Limited types of market instruments
Availability of precious metal trading Lack of specific information on spreads
Standard account with no commissions High leverage (up to 1:1000) can increase risk
Swap Free Account option for compliance Limited details on commissions
Educational resources, including 1-2-1 mentoring Minimum deposit for ECN account is relatively high (500 USD)
MetaTrader 5 (MT5) trading platform available Suspicions regarding regulation may deter potential investors
Various top-rated payment methods No detailed customer support information provided

Is ForexVox Legit?

ForexVox claims to be regulated by the Seychelles Financial Services Authority (license number: SD028) as a retail forex broker, but there are suspicions that it may be a clone and does not currently possess valid regulation. As such, potential investors should exercise caution and be aware of the associated risks. The regulation provided by Seychelles FSA is considered offshore, which may further add to the risk factor.

regulation

Market Instruments

1. Currencies: ForexVox offers access to the foreign exchange market, allowing traders to trade over 70 different currency pairs. Some examples of currency pairs available for trading include USD/EUR, GBP/JPY, AUD/CAD, and EUR/USD.

2. Indices: Traders can access world indices through the same trading account used for Forex trading. ForexVox provides the opportunity to trade indices such as DE30 (Germany 30), UK100 (UK 100), US30 (US 30), US100 (US 100), US500 (US 500), and AUS200 (Australia 200).

3. Commodities: ForexVox enables trading in the global commodities market, allowing traders to benefit from price movements in oil. Examples of oil-related instruments include UK Oil Future, US Oil Future, UK Oil Spot, and US Oil Spot.

4. Precious Metals: Traders can also participate in the trading of precious metals, such as Gold (XAU) and Silver (XAG). These metals are quoted in multiple currencies, including USD, EUR, and AUD.

market-instruments

Pros and Cons

Pros Cons
Access to diverse currency pairs for forex trading Limited types of market instruments
Availability of world indices for trading Lack of specific information on spreads
Trading opportunities in the global commodities market -
Participation in precious metal trading with multiple currencies -

Account Types

Standard Account:

The Standard account offered by ForexVox is the most popular choice among traders. It provides leverage of up to 1:1000, and there are no commissions charged for trades. The account is denominated in USD, and the recommended deposit to open this account is 100 USD. Traders using the Standard account can access a wide range of trading instruments, with over 90 options available. The minimum lot size for trades is 0.01, and there is no limit on the maximum number of positions that can be opened. The account features a margin call at 100% and a stop-out level at 50%.

ECN Account:

For professional traders, the ECN account is the preferred option. It also offers leverage of up to 1:1000, but unlike the Standard account, there is a commission charged for each trade. The account currency is USD, and a higher recommended deposit of 500 USD is advised to open this account. Traders using the ECN account have access to over 90 trading instruments. Similar to the Standard account, the minimum lot size is 0.01, and there are no restrictions on the maximum number of positions. The margin call and stop-out levels are set at 100% and 50%, respectively.

account-types

In addition to the Standard and ECN accounts, ForexVox also offers a Demo Account option. The Demo Account provides traders with a risk-free environment to practice and familiarize themselves with the trading platform and market conditions.

ForexVox also provides a Swap Free Account option, catering to traders who cannot pay or receive swaps due to religious reasons, particularly in accordance with Sharia Law principles. This interest-free account allows traders to access the financial markets without incurring swap fees, making it an ideal choice for those who wish to trade in compliance with their beliefs.

account-types

Pros and Cons

Pros Cons
Standard account has no commissions ECN account charges commissions for each trade
High leverage (up to 1:1000) Limited information on specific spread details
Swap Free Account option available Minimum deposit for ECN account is relatively high (500 USD)

Leverage

ForexVox offers leverage of up to 1:1000 for both its Standard and ECN accounts. Traders can take advantage of this high leverage to amplify their trading positions, potentially increasing their profit potential. However, it is important for traders to exercise caution when using high leverage, as it also magnifies potential losses.

Spreads & Commissions

The Standard account has no commissions, while the ECN account charges commissions for trades. Specific spread details are not provided.

Minimum Deposit

The minimum deposit for the Standard account is 100 USD, and for the ECN account, it is 500 USD.

Promotions & Bonus

ForexVox offers two promotions and bonuses to its clients. Firstly, there is a 100% Deposit Bonus where clients can double their deposit with this special offer. Secondly, there is a 10% Floating Deposit Bonus that provides additional support during drawdowns when funding the account. In addition to these bonuses, there are special bonuses available exclusively for STICPAY clients when they deposit their accounts.

promotions

Deposit & Withdrawal

ForexVox offers a diverse range of over 10 top-rated world payment methods for deposits and withdrawals. Traders can choose from options such as Mastercard, Visa, Stripe, Neteller, Alipay, AdvCash, UnionPay, Trustly, Sticpay, and Remessa. This variety of payment methods allows for easy transactions.

deposit-withdrawal

Pros and Cons

Pros Cons
Diverse range of over 10 top-rated payment methods No specific information on processing times
Options include Mastercard, Visa, Stripe, Neteller, Alipay Lack of details on potential fees or transaction limits
AdvCash, UnionPay, Trustly, Sticpay, and Remessa available -

Trading Platforms

ForexVox provides its clients with the MetaTrader 5 (MT5) trading platform, a widely recognized industry-leading software utilized by financial traders worldwide. This platform is tailored for trading Forex and CFDs and comes with an array of features, including various chart types, multiple time frames, and over 50 technical indicators. Available on desktop, mobile, and web, MT5 offers accessibility to monitor trading activities instantly. Traders can benefit from unlimited charts, 50 technical indicators, and 9 time frames, allowing for comprehensive market analysis and customized chart views. The platform supports automated trading with Expert Advisors and ensures deep liquidity and fast execution, making it a reliable choice for traders seeking a robust trading experience.

trading-platform

Pros and Cons

Pros Cons
Widely recognized industry-leading software (MetaTrader 5) No information on specific customization or unique features
Tailored for Forex and CFD trading with a wide range of features Lack of information on additional platform tools or resources
Accessible on desktop, mobile, and web for instant monitoring of activities No details on customer support availability or platform reliability

Educational Resources

ForexVox offers a comprehensive set of educational resources to cater to traders of all levels. One of their standout features is the 1-2-1 mentoring program, where traders can receive personalized guidance and insights from Adam Harris, a renowned global market analyst and FX expert with over 35 years of experience. Whether you are a beginner or an advanced trader, Adam can teach you about market dynamics, common retail trading mistakes, macro fundamentals, technical analysis, and trading tactics. By learning from Adam's expertise, traders can gain a deeper understanding of market psychology and implement strategies to improve their trading performance.

Customer Support

ForexVox offers customer support through various channels, including email and a contact form on their website. Traders can reach out for assistance by providing their first name, last name, email address, and comments. Additionally, the company is present on social media platforms like Facebook, Instagram, Twitter, LinkedIn, and YouTube, potentially providing another means of communication and updates for their users.

customer-support

Conclusion

In conclusion, ForexVox is a Seychelles-based retail forex broker that claims to be regulated by the Seychelles Financial Services Authority (license number: SD028). However, there are suspicions that it may be a clone and lacks valid regulation. Traders should exercise caution and be aware of the associated risks, as the provided regulation is considered offshore, adding to the risk factor. ForexVox offers a range of market instruments, including currencies, indices, commodities, and precious metals, providing traders with diverse trading options. The brokerage offers two main account types, the Standard and ECN accounts, with leverage of up to 1:1000. While the Standard account has no commissions, the ECN account charges commissions for trades. ForexVox also provides a Swap Free Account for traders adhering to Sharia Law principles. The broker utilizes the MetaTrader 5 trading platform, offering traders a wide range of features and tools for a robust trading experience. ForexVox offers a variety of payment methods for deposits and withdrawals. Additionally, the brokerage provides a comprehensive set of educational resources, including a 1-2-1 mentoring program with renowned market analyst Adam Harris. Traders can access customer support through email and social media platforms. Overall, potential investors should carefully consider the risks associated with ForexVox's regulatory status and conduct thorough research before making any decisions.

FAQs

Q: Is ForexVox a legitimate forex broker?

A: ForexVox claims to be regulated by the Seychelles Financial Services Authority, but there are doubts about its current valid regulation status. Caution is advised.

Q: What market instruments are available on ForexVox?

A: ForexVox offers trading in currencies, indices, commodities, and precious metals, providing access to over 70 currency pairs and various other assets.

Q: What are the account types offered by ForexVox?

A: ForexVox offers a Standard account with no commissions and an ECN account with commission charges for professional traders.

Q: What is the leverage provided by ForexVox?

A: ForexVox offers leverage of up to 1:1000 for both Standard and ECN accounts, enabling traders to amplify their positions but with higher risk.

Q: What payment methods are available for deposits and withdrawals?

A: ForexVox offers over 10 top-rated payment methods, including credit cards, e-wallets, and bank transfers, for easy transactions.

Q: Which trading platform does ForexVox provide?

A: ForexVox offers the MetaTrader 5 (MT5) platform, featuring a wide range of tools and indicators for comprehensive market analysis and automated trading.

Q: What educational resources does ForexVox offer?

A: ForexVox provides comprehensive educational resources, including a 1-2-1 mentoring program with an experienced market analyst.

Q: How can I contact customer support at ForexVox?

A: Customer support is available through email, a contact form on their website, and their social media platforms.

Q: Are there any special promotions or bonuses for clients?

A: Yes, ForexVox offers a 100% Deposit Bonus and a 10% Floating Deposit Bonus, along with exclusive bonuses for STICPAY clients.

User Reviews

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FX1454187472
more than one year
I've been trading with their standard account for three months now and can you believe it? I've made almost $1000 in profits. It gave me a lot of confidence in my trading skills. The platform is easy to use, and the customer service is excellent. I am now considering upgrading to an ECN account. If you're looking for a trustworthy and reliable broker, ForexVox is the way to go!
2023-03-28 21:42
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FX1369279165
more than one year
Even though ForexVox only requires an initial deposit of $100, I still want to try it on a demo account first, to be on the safe side! This is a habit of mine. I hope this company can provide a real trading environment.
2023-03-10 18:36
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