- Types of accounts
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ForexVox, regulated in both the UK and the Seychelles, is a Forex broker that has been serving traders in Europe and around the world since its inception in 2020. The broker accepts clients from all over the world with the exception of the USA and some other countries where restrictions apply.
ForexVox - regulated broker?
The ForexVox group includes 2 brokerage companies:
- ForexVox UK is located in the UK and is regulated by the Financial Supervisory Authority (FCA);
- ForexVox SEY is located in Seychelles and is regulated by the Seychelles Financial Services Authority (SFSA).
All funds of clients who have opened an account in the UK jurisdiction are separated from the company's funds and are stored in segregated accounts with top-level banks, and also participate in the deposit insurance program up to 85,000 pounds sterling in case of the broker's insolvency.
What is the maximum leverage in ForexVox?
Keep in mind that the British company has some trading restrictions due to the influence of the European Securities and Markets Authority (ESMA), in particular, the leverage cannot be more than 1:30 for major currency pairs. At the same time, a company in Seychelles offers a maximum leverage of up to 1:500. Moreover, the broker also accepts European traders who want to open an account in an offshore jurisdiction in order to gain access to higher leverage and flexible trading conditions.
Despite the fact that ForexVox is regulated offshore, it is not among the brokers offering trading cryptocurrencies. Instead, the broker decided to focus on the traditional financial market using CFDs on energy and precious metals, as well as on currency and stock indices.
The uniqueness of ForexVox is that it offers a "Terminal", which is essentially a group of chats where traders can discuss the market, follow trading signals, read comments and get access to the current news feed.
As for the platforms, ForexVox decided to stick to the popular MT4 platform, which is available both in the downloadable version for Windows computers, as well as in the web version and mobile applications.
What types of accounts does ForexVox offer?
Like many other brokers, ForexVox offers two types of accounts:
- Standard. This is a classic commission-free STP account with spreads starting from 1 point and a recommended initial deposit of $100.
- ECN. An advanced account with commission trading, but with narrower spreads from 0 points and a recommended starting deposit of 500 US dollars.
What is the minimum deposit in ForexVox?
There is no minimum deposit in ForexVox. You can top up your account for any amount via bank transfers, debit and credit cards, as well as the services of Skrill and Neteller e-wallets.
ForexVox still has a way to go before it really stands out among its competitors. The broker does not offer a particularly large selection of trading instruments, and can also improve its customer support. One of the advantages is the spreads on the ECN account, which seem to be quite good. Thus, the broker can be attracted tofor example, for those who trade mainly currency pairs on MT4.
Before choosing a broker, we recommend that you read the reviews of ForexVox, as well as see our rating of Forex brokers.
|General Information of ForexVox|
|Year of foundation||2020|
|EURUSD Spread||0.1 pips|
|Assets||Currency pairs, indices, metals, oil|
|Deposit replenishment||BankTransfer, Visa/MasterCard, Skrill, Neteller|
|Payment for inaction||—|
- The year of Foundation 2020
- Head office address 51 Eastcheap, London EC3M 1JP
- Maximum leverage 1:500
- Min. Deposit $0
- Regulation FSA, FCA
- Trading platform
- Payment system to enter Bank Transfers, Debit/Credit Cards , Skrill, Neleller
- Payment system for withdrawal Bank Transfers, Debit/Credit Cards , Skrill, Neleller
- Number of trading instruments 70
- The number of CFD instruments 15
- The number of metals 2