VoyaFX Review: Do Not Deal With VoyaFX.Com

VoyaFX is not the least expensive broker we have researched, to put it mildly. The broker’s minimum deposit requirements are quite high, and their spreads are higher than what most reputable brokerages can guarantee. There isn’t a lot of choice in terms of payment methods either. 

Keep reading this VoyaFX review to find out more.

VoyaFX Regulation and Fund Security

You must first determine if a forex brokerage is regulated before using it. This is due to the fact that working with an unregistered broker may result in some serious problems that will negatively impact your trading experience. There are a lot of reliable forex brokers available. You must make the finest decision based on your preferences.

A more recent project, VoyaFX, is already highly regulated across numerous nations. With offices in Dubai, France, Luxembourg, Bulgaria, and Vanuatu, the company aims to provide accessible trading with quick order execution, reasonable commissions, and top-notch round-the-clock customer service.

The Financial Supervision Commission (FSC) and the Vanuatu Financial Service Commission (VFSC) have approved and overseen VoyaFx. Furthermore, the EU trademark registration for the VoyaFX brand is presently underway.

All of this is actually the truth but does not undermine the fact that Bulgaria is not very credible when it comes to finances nor is FSC, so this is something you should keep in mind if you decide to invest with them.

VoyaFX Trading Software Overview

Access to VoyaFX‘s own web-based platform is available. The software has a sleek, contemporary appearance and provides a respectable selection of charting and analytical capabilities. Customers can also place pending orders, establish a stop loss or take profit, and receive real-time economic news. 

However, it didn’t appear that social trading or algorithmic trading were viable options. The fact that it was so user-friendly and well-designed makes it an excellent option for traders who are just starting out and testing the waters, even though this is hardly the best trading platform we have ever used.

The service also gives users access to a high-quality financial news feed that includes real-time updates, fundamental analysis, and reporting on a variety of subjects, including the situation of the economy in general and the health of a particular company. 

Furthermore, VoyaFX appears to provide accounts on the popular trading platforms MetaTrader 4 and MetaTrader 5.

Trading Instrument at VoyaFX

Over 1000 CFDs, including:

• Currency
• ETF
• Stock 
• Commodity Trading Instruments 

Are available at VoyaFX broker. This amazing selection of trading instruments spans all major asset classes. A real plus is that there are no commission fees associated with trading the majority of these assets.

VoyaFX Account Types Offered

If you join VoyaFX you will be given the option to choose between three account types: Silver, Gold, and Diamond. The minimum deposits for the accounts vary from 500 USD for Silver, 10,000 USD for Gold, and 25,000 USD for a Diamond account.

The silver account offers the following features:

• a free trading app
• fast verification process
• dedicated customer support

The gold account features:

• a free trading app
• fast verification process
• dedicated customer support education materials

The diamond account:

• a free trading app
• fast verification process
• dedicated customer support
• education materials
• technical and fundamental analysis

If you want to trade and open an account with VoyaFX, do it according to your preferences and needs.

Deposits and Withdrawals Procedure

Customers could open accounts in EUR, USD, GBP, and CHF. About the deposit methods it accepts, VoyaFX broker did not precisely offer thorough information. However, the broker specifies in the Terms and Conditions that the two most common deposit methods are credit/debit card and wire transfer.

Although VoyaFX does not charge deposit fees, it does inform customers that some payment service providers may impose fees of up to 4% of the amount deposited. This broker imposes a regular inactivity fee of 1% but no less than BGN 10 per month of inactivity if you have not used your account for more than 3 consecutive months.

How Is Fraud Carried Out?

How is fraud carried out? The majority of scams share numerous elements and procedures. Scam brokers are experts at deceiving others and finding your weak point.

Unfortunately, consumers frequently discover that they are victims of an investment scam a little too late; by then, the broker has already vanished, and it is difficult to get your money back. However, not all is lost! If you follow the proper procedures, you can request a refund of your money.

VoyaFX Summary

A broker cannot be considered either good or bad. That does not imply that the broker is not a good one, though. We are merely advising you to use caution when dealing with any of them, including VoyaFX. A trustworthy regulatory body’s regulation is among the most crucial qualities to search for.

Even if you are a novice, you should opt for a company that offers user-friendly trading interfaces. You want a broker who responds quickly because the Forex market is so turbulent. The firm’s website needs to be user-friendly, responsive, and quick to load. The design of the trading platform should be simple to understand and use.

We hope you found this VoyaFX review informative.

FAQs About VoyaFX Broker