Global Broker governance & inquiry App

Score

0123456789
.
0123456789
0123456789
/10

ForexVox

Seychelles|2-5 years|
Suspicious Regulatory License|MT4/5 full license|Global Business|Suspicious Overrun|High potential risk|

https://forexvox.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

6
Server Name
ForexVox-Demo MT4
Server Location United States

Contact

+248 4373790
support@forexvox.com
https://forexvox.com/
CT House, Office 8G, Providence, Mahe, Seychelles

Licenses

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

Single Core

1G

40G

Open Now

Disclosure

More

Warning

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

Danger

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

Contact number

English

+248 4373790

Broker Information

More

Company Name

ForexVox (Seychelles) Financial Services Limited

Company Abbreviation

ForexVox

Platform registered country and region

Seychelles

Company website
Twitter
Facebook
Instagram
YouTube
Linkedin

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 6
Previous Detection : 2024-03-04
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Verification

Users who viewed ForexVox also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

Decode Global

8.35
Score
5-10 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

FP Markets

8.87
Score
15-20 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

HFM

8.25
Score
10-15 yearsRegulated in CyprusMarket Making(MM)MT4/5 full license
Official website
Pyramid scheme complaint
Expose

ForexVox · Company Summary

Key Information Details
Company Name ForexVox (Seychelles) Financial Services Limited
Years of Establishment 2-5 years ago
Headquarters Mahe, Seychelles
Office Locations CT House, Office 9A
Regulations/Licenses FSA (Offshore Regulatory)
Tradable Assets Forex, Indices, Metals, Commodities
Account Types Standard, ECN
Minimum Deposit $0
Leverage Up to 1:500
Spread N/A
Deposit/Withdrawal Methods N/A
Trading Platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) (White Label)
Customer Support Email
Educational Content Glossary, Mentorship Program

Overview of ForexVox

ForexVox (Seychelles) Financial Services Limited is a company established 2-5 years ago, based in Seychelles with headquarters in CT House, Office 9A, Providence, Mahe. As a regulated entity under the Seychelles Financial Services Authority (FSA), they offer retail forex trading services to traders. The company operates on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, providing traders with access to trade a wide range of financial instruments, including forex, indices, metals, and commodities. They offer different account types, such as Standard and ECN, with leverage of up to 1:500.

In addition to their trading services, ForexVox offers educational resources and community features. They provide a glossary and mentorship program to enhance traders' knowledge and skills. Traders can also benefit from community engagement through chatrooms where they can share ideas with industry experts.

basic-info

Regulation

ForexVox has 3 licenses:

  1. ForexVox (Seychelles) Financial Services Limited is regulated by the Seychelles Financial Services Authority (FSA) under license number SD142. The FSA is the regulatory agency responsible for overseeing financial services in Seychelles. Being licensed under the FSA's Retail Forex License signifies that ForexVox has met the regulatory requirements to offer retail forex trading services. However, it's important to note that this license is classified as offshore regulation, which may carry different levels of investor protection and regulatory oversight compared to licenses from major financial jurisdictions.

regulation

2. ForexVox claims to be regulated by the Financial Conduct Authority (FCA) in the United Kingdom with license number 498199. However, this license is suspected to be a clone, indicating that another entity is falsely claiming to be regulated under the FCA. Engaging with brokers that possess suspected clone licenses can expose traders to significant risks, including a lack of investor protection and potential fraudulent activities.

regulation

3. ForexVox also claims to be regulated by the Financial Conduct Authority (FCA) in the United Kingdom with license number 586541. However, this license is also suspected to be a clone, raising concerns about its legitimacy. Trading with a broker that possesses a suspicious clone license can result in a lack of regulatory oversight and inadequate investor protection.

regulation

Pros and Cons

ForexVox offers a range of educational resources and features that can benefit traders. Their partnership with premier tutors, exchanges, and news providers allows them to provide comprehensive knowledge and instruments for traders at all levels. The certified courses, along with chatrooms facilitated by industry experts, foster a supportive trading community where traders can share ideas and gain insights. The inclusion of a live audio news stream ensures traders stay updated with the latest market developments. Additionally, the availability of an Islamic account option caters to the needs of traders who adhere to Islamic principles.

One major drawback is the regulatory status of ForexVox. While they claim to be regulated by the Seychelles Financial Services Authority (FSA), which grants them a retail forex license, it's important to note that this falls under offshore regulation. Offshore regulations may offer different levels of investor protection and regulatory oversight compared to licenses from major financial jurisdictions. Furthermore, the suspicion surrounding the claimed licenses from the Financial Conduct Authority (FCA) in the United Kingdom raises concerns about the legitimacy and trustworthiness of the company. Dealing with unverified or suspected clone licenses can expose traders to potential risks, including a lack of investor protection and fraudulent activities.

Pros Cons
Comprehensive educational resources Regulatory status falls under offshore regulation
Supportive trading community Suspicion surrounding claimed FCA licenses
Live audio news stream Potential risks of inadequate investor protection and fraud
Islamic account option

Market Instruments

ForexVox offers a diverse range of market instruments for trading, including Forex, Indices, Metals, and Commodities. In the Forex market, traders can access a wide selection of currency pairs to trade, providing opportunities to capitalize on currency fluctuations. The Indices category allows traders to speculate on the performance of global stock market indices, enabling them to participate in broader market movements. Metals, such as gold and silver, provide an avenue for trading precious metals as a means of diversification and hedging strategies. Lastly, the Commodities category offers trading opportunities in various commodities like oil, natural gas, agricultural products, and more, allowing traders to speculate on price movements in these markets.

Below is a table comparing the available market instruments of ForexVox with other popular brokers:

Company Market Instruments
ForexVox Forex, Indices, Metals, Commodities
FXPro Forex, Indices, Metals, Commodities
IC Markets Forex, Indices, Metals, Commodities
FBS Forex, Indices, Metals, Commodities
Exness Forex, Indices, Metals, Commodities
products

Account Types

ForexVox offers two types of trading accounts: Standard and ECN. The Standard account is the most popular choice among traders. It provides leverage of up to 1:500, meaning traders can amplify their trading positions. There is no commission charged for trades, making it cost-effective for traders. The account is denominated in USD, providing convenience for international traders. On the other hand, the ECN account is designed for professional traders. It also offers leverage of up to 1:500 but comes with a commission fee. The ECN account provides traders with direct access to the market, offering potentially tighter spreads and faster execution speeds.

Account Type Standard Account ECN Account
Leverage Up to 1:500 Up to 1:500
Commission No Yes
Account Currency USD USD
account-types

Account Creation

Visit the ForexVox website: Go to the official ForexVox website at https://forexvox.com/ to begin the account opening process.

open-account

Select an account type: ForexVox offers two account types, Standard and ECN. Evaluate the features and benefits of each account type, such as leverage, commission, and account currency. Choose the account type that suits your trading preferences.

open-account

Complete the registration form: Fill out the registration form provided on the ForexVox website. Enter accurate personal information, including your name, email address, and contact details.

Read and accept the terms and conditions: Carefully review ForexVox's terms and conditions, taking note of any specific requirements or restrictions. Make sure you understand the risks associated with trading and agree to the terms before proceeding.

Account verification: ForexVox may require you to verify your identity and address. Follow their instructions to provide the necessary identification documents and proof of address.

Fund your account: Once your account is verified, proceed to deposit funds into your ForexVox trading account. ForexVox accepts various deposit methods, including bank transfers, credit/debit cards, and electronic wallets. Choose the most convenient option for you and follow the provided instructions.

Access the MetaTrader 5 platform: ForexVox uses the MetaTrader 5 trading platform. Download the MetaTrader 5 platform from ForexVox's website or use the web-based version. Log in to your account using the provided credentials.

Familiarize yourself with the platform: Take the time to explore the MetaTrader 5 platform provided by ForexVox. Learn how to execute trades, analyze charts, use indicators, manage your account settings, and access customer support.

Start trading: With your ForexVox account opened and funded, you are ready to start trading Forex, Indices, Metals, and Commodities. Develop your trading strategy, conduct market analysis, and execute trades based on your trading decisions.

Minimum Deposit

ForexVox offers a unique advantage when it comes to minimum deposit rates, as they allow traders to start with a minimum deposit of 0 dollars. This low barrier to entry enables individuals with varying levels of trading capital to participate in the financial markets. This feature allows potential traders to test the platform and experience live trading with minimal financial commitment.

Leverage

ForexVox provides traders with leverage options of up to 1:500. Leverage is a powerful tool that allows traders to amplify their trading positions and potentially increase their potential profits. With a maximum leverage of 1:500, traders have the ability to control larger positions in the market with a relatively smaller amount of capital.

Market Instruments ForexVox FXPro IC Markets FBS Exness
Forex Up to 1:500 Up to 1:500 Up to 1:500 Up to 1:3000 Up to 1:2000
Indices Up to 1:500 Up to 1:200 Up to 1:500 Up to 1:500 Up to 1:200
Metals Up to 1:500 Up to 1:200 Up to 1:500 Up to 1:500 Up to 1:200
Commodities Up to 1:500 Up to 1:50 Up to 1:500 Up to 1:500 Up to 1:200

Trading Platforms

ForexVox provides traders with the MetaTrader 5 (MT5) trading platform. MT5 is a widely recognized and highly regarded platform in the financial industry, offering advanced trading features, comprehensive charting tools, a wide range of technical indicators, and the ability to execute trades across various financial markets. With MT5, traders can access real-time market data, analyze price movements, implement trading strategies, and manage their positions effectively. The platform is known for its customizable layout and support for automated trading through expert advisors.

The following is a table that compares the trading platforms available by ForexVox compared to that of OctaFX, FXCC, Tickmill, and FxPro.

Broker Trading Platforms
ForexVox MetaTrader 5
OctaFX Web Platform, MT4, MT5
FXCC Web Platform, MT4, MT5
Tickmill Web Platform, MT4, MT5
FxPro Web Platform, MT4, MT5, cTrader

Customer Support

ForexVox offers various customer support options to assist traders with their inquiries and concerns. Here is a summary of the available customer support channels:

Email Support: Customers can reach ForexVox's support team by sending an email to support@forexvox.com. This allows traders to communicate their questions or issues in writing and receive a response from the support team via email.

Live Chat: ForexVox provides a live chat feature on their website, enabling traders to engage in real-time conversations with a customer support representative. This instant messaging functionality allows for quick assistance and timely resolution of queries.

Phone Support: Traders can also contact ForexVox's customer support by calling their contact number at +248 4373790. This direct phone line provides the opportunity to speak with a support agent directly and address any concerns or seek guidance.

customer-support

Educational Content

ForexVox provides traders with a range of educational content to enhance their trading knowledge and skills. Here is a summary of the educational resources offered by the company:

Glossary: ForexVox offers a comprehensive glossary that contains definitions and explanations of key terms and concepts used in the financial markets. This resource helps traders familiarize themselves with industry-specific terminology and improve their understanding of various trading concepts.

Mentorship Program: ForexVox provides a mentorship program designed to guide traders at different skill levels. This program pairs traders with experienced industry professionals who can provide personalized guidance, share insights, and help develop effective trading strategies.

educational-resources

Community Features

ForexVox offers a variety of community support features to create a supportive trading environment for its customers. Here is a summary of the community support options provided by the company:

FVSocial: ForexVox's FVSocial is a community-based auto copy trading platform. It allows traders to connect with and follow experienced traders, enabling them to automatically copy their trades and strategies. This feature provides an opportunity for traders to learn from successful traders and potentially improve their trading performance.

Chatrooms: ForexVox offers chatrooms where traders can interact with industry experts and fellow traders. These chatrooms provide a platform for sharing ideas, discussing market trends, and seeking guidance from experienced individuals. Engaging in conversations within the chatrooms can help traders gain insights, exchange information, and build connections within the trading community.

Copytrading: ForexVox facilitates copytrading, which allows traders to replicate the trades of selected successful traders. By following and copying the trades of experienced traders, less-experienced traders can benefit from their expertise and potentially achieve similar trading results.

community

Conclusion

In conclusion, ForexVox is a brokerage company headquartered in Seychelles, which offshore regulated by the Seychelles Financial Services Authority (FSA), which come with an innate risk compared and other negative implications in comparison to a normal regulatory license. In addition to this, the FCA has labeled ForexVox a “Suspicious Clone” on two different licenses, further increasing the potential risk factor. As for tradable assets, ForexVox allows for the trading of forex, indices, metals, and commodities. Traders have the option to choose from different account types such as Standard and ECN, each with its own features and benefits.

ForexVox offers educational resources and community support. Traders can access a glossary to enhance their understanding of trading terminology and participate in a mentorship program. Lastly, The company also provides community features like FVSocial, chatrooms, and copytrading, allowing traders to engage with experts and benefit from their insights.

FAQs

Q: What is the regulatory status of ForexVox?

A: ForexVox is offshore regulated by the Seychelles Financial Services Authority (FSA) as well as labeled a “Suspicious Clone” by two different FCA licenses.

Q: What types of trading instruments are available with ForexVox?

A: ForexVox offers a diverse range of tradable assets including forex, indices, metals, and commodities.

Q: Does ForexVox offer different types of trading accounts?

A: Yes, ForexVox provides Standard and ECN account types, each with its own unique features and benefits.

Q: What is the minimum deposit requirement for opening an account with ForexVox?

A: ForexVox allows a minimum deposit of 0 dollars, providing flexibility for traders to start with a low initial investment.

Q: How can I contact the customer support of ForexVox?

A: You can reach ForexVox's customer support through email at support@forexvox.com.

Q: Does ForexVox offer educational resources for traders?

A: Yes, ForexVox provides educational content such as a glossary and a mentorship program to support traders in their learning journey.

User Reviews

Sort by content

  • Sort by content
  • Sort by time

User comment

5

Comments

Write a review

Alex 917
0-3months
Unable to initiate a withdrawal, and customer service hasn't addressed the issue. Depositing and trading activities are functional, but withdrawal requests are being ignored. The total amount in my account, which includes both principal and profit, is just a few hundred dollars, but withdrawal remains unattainable.
2024-01-15 13:51
Reply
0
0
NIODay
more than one year
ForexVox foreign exchange company has disputes, customer accounts have suffered profit deduction and cannot log in. Dear readers, I am writing this article to share my trading experience with ForexVox foreign exchange company, and call on everyone to be vigilant about the behavior of this company. In past trading, I have chosen ForexVox as my platform for trading gold. However, I have to reveal to everyone that I had serious problems with this process. First, ForexVox forcibly deducted my profit of $43,848 under the pretext of abusing the trading strategy. This practice is completely unacceptable for investors. I hope that by exposing this situation, more people will be aware of the possible risks and unfair treatment of ForexVox. Even more worrisome, when I tried to log into my account, it was deleted and I couldn't access it again. This behavior leaves me very disappointed and confused. As an investor, I want to be able to view and manage my funds transparently, rather than face the problem of being unable to log in to this account. I urge all investors and potential ForexVox clients to carefully consider their options. Based on my experience, I suggest that you stay away from ForexVox for a while and look for other more reliable and honest forex trading platforms. Sincerely, a person concerned about investor rights
2023-06-16 22:00
Reply
0
0
NIODay
more than one year
ForexVox foreign exchange company has disputes, customer accounts have suffered profit deduction and cannot log in. Dear readers, I am writing this article to share my trading experience with ForexVox foreign exchange company, and call on everyone to be vigilant about the behavior of this company. In past trading, I have chosen ForexVox as my platform for trading gold. However, I have to reveal to everyone that I had serious problems with this process. First, ForexVox forcibly deducted my profit of $43,848 under the pretext of abusing the trading strategy. This practice is completely unacceptable for investors. I hope that by exposing this situation, more people will be aware of the possible risks and unfair treatment of ForexVox. Even more worrisome, when I tried to log into my account, it was deleted and I couldn't access it again. This behavior leaves me very disappointed and confused. As an investor, I want to be able to view and manage my funds transparently, rather than face the problem of being unable to log in to this account. I urge all investors and potential ForexVox clients to carefully consider their options. Based on my experience, I suggest that you stay away from ForexVox for a while and look for other more reliable and honest forex trading platforms. Of course, I also recommend that you take the following steps to solve similar problems: 1. Contact ForexVox's customer support team as soon as possible, explain your problem to them in detail, and ask them to solve it. Insist on them to give clear explanations and solutions. 2. If contacting the customer support team does not resolve the issue, you can bring it to the attention of others by sharing your experience on complaint sites or forums. This helps to raise awareness of ForexVox among other investors and to stand together against possible injustices. Finally, I hope that we can unite and stand against dishonesty and injustice. Only through our voice and our actions can we promote transparency and fairness in the foreign exchange market. Thank you for taking the time to read my experience and calling. Hope we can work together to create a fair and reliable trading environment for investors. Sincerely, a person concerned about investor rights
2023-06-16 21:57
Reply
0
0
苹果968
more than one year
The company claims on the homepage that it is regulated by the FCA, but in fact the license is fake. In addition, it does not have an office in the UK. fraud!
2023-02-20 10:05
1
0
0
1
TOP
Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com