ForexVox is a forex broker that claims to offer a variety of trading products and services to clients around the world. However, there are a number of red flags that suggest that ForexVox is a scam broker.
In this review, we will take a closer look at ForexVox and explain why you should avoid this broker at all costs.
Company Overview
ForexVox is a relatively new broker, having been founded in 2020. The company is headquartered in Seychelles, which is not a well-regulated jurisdiction for forex brokers.
Forex Vox does not have any licenses from any reputable regulatory authorities. This is a major red flag, as it means that ForexVox is not subject to any oversight or accountability.
Does ForexVox Have Any License?
No, ForexVox does not have any licenses from any reputable regulatory authorities. They claim they have a license from Seychelles, but we did not find it on their website.
Is ForexVox Regulated By Any Authority?
No, Forex Vox is not regulated by any authority. They claim they are based in the UK, but we did not find any regulation from the FCA. Also, the license from Seychelles does not regulate them, This is just a license.
Forex Vox Pros and Cons
Pros:
- Forex Vox offers a variety of trading products and services, including forex, CFDs, and commodities.
- They have a user-friendly trading platform.
- They offer competitive spreads and leverage.
Cons:
- Forex Vox is not regulated by any reputable regulatory authorities.
- Forex Vox has a history of complaints from customers.
- It is a relatively new broker, so there is no track record of its long-term success.
How Does ForexVox Reach To Their Prey?
ForexVox uses a variety of methods to reach potential customers, including:
- Online advertising: ForexVox advertises heavily on Google and other search engines.
- Social media: Forex Vox has a presence on social media platforms like Facebook and Twitter.
- Cold calling: ForexVox representatives cold-call potential customers and offer them free trading lessons or other incentives to open an account.
Technical Details of ForexVox
Minimum Deposit:
The minimum deposit requirement for Forex Vox is $250. This is relatively low compared to other forex brokers.
Trading Platform:
Forex Vox uses the MetaTrader 4 trading platform. MT4 is a popular and well-respected trading platform that is used by millions of traders around the world.
Spread:
The spreads offered by ForexVox are competitive. The average spread for EUR/USD is 1.0 pip.
Leverage:
Forex Vox offers up to 1:500 leverage. This is a high level of leverage, which can magnify profits but also losses.
Packages and Products They Offer
Forex Vox offers a variety of trading products and services, including:
- Forex: ForexVox allows traders to trade major, minor, and exotic currency pairs.
- CFDs: Forex Vox offers CFDs on a variety of assets, including stocks, commodities, and indices.
- Commodities: Forex Vox offers CFDs on a variety of commodities, including gold, silver, and oil.
Withdrawal and Deposit Method
Forex Vox offers a variety of withdrawal and deposit methods, including:
- Credit/debit cards
- Bank wire transfer
- Skrill
- Neteller
What Do Their Previous Traders Say?
There are a number of complaints about Forex Vox from previous traders. These complaints include:
- Difficulty withdrawing funds
- Unrealistic profit claims
- Account freezes
- Customer service issues
Summing Up- Why Should Not You Trust ForexVox
ForexVox is a scam broker. The company is not regulated by any reputable regulatory authorities and has a history of complaints from customers. If you are considering trading with Forex Vox, I urge you to reconsider. There are many other reputable forex brokers that you can choose from.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to ForexVox or any other scam broker, you may be able to recover your funds with the help of a specialized recovery firm. You can find them in our recommended company list. We will provide you with a free consultation and educational materials to help you keep updated.
File A Complaint Against Scam Broker's
Final Thoughts
ForexVox is a scam broker that should be avoided at all costs. If you are considering trading with ForexVox, you should stop the decision. There are many other reputable forex brokers that you can choose from.
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