ForexVox Review – Social and Educational Hub for Traders

What is ForexVox?

ForexVox is an online brokerage company with their headquarters based in London. Their main focus is to make the information and tuition being used by the major investment banks widely available to all. In addition, they have created chatrooms with Forex market contributors who comply with the strict rules of the European Institute of Management and Finance.

In fact, they’ve set up a hub where the needs of every trader, from beginner to professional, can be fully satisfied. Solid educational materials and prominent mentors are at the full disposal of newbies as well experienced traders who want to improve their skills. Professional traders will enjoy the FIX API solution that brings trading to a new level.

ForexVox claims itself to be a Forex revolutionist, but let’s explore whether it’s true.

What about trading conditions at ForexVox?

ForexVox is a fully regulated broker and has two licences: FCA (UK) and FSA (Seychelles).
It is an ECN broker that provides market execution method and floating spreads. The broker offers more than 100 products to trade including currency pairs, metals, indices and commodities.

After careful examination of trading restrictions, it seems that they are quite loyal and allows all trading strategies such as scalping, hedging, EA etc.

ForexVox Seychelles offers 2 types of accounts: Standard and ECN with the maximum leverage 1:500. ForexVox UK offers only one type of account with the leverage 1:30 but with the option to increase up to 1:500 for professional traders. Islamic clients can apply for a swap-free account via live chat or the support team.

It is stated on their website that recommended deposits for Standard and ECN accounts are $100 and $500 respectively, but indeed, there is no minimum deposit requirement to start trading. Moreover, all client accounts are protected against negative balance.

ForexVox pros and cons

“+”

► Strong regulation (FCA) plus offshore (Seychelles) regulation
► Fully secured segregated accounts with Tier 1 banks
► No min deposit
► API trading for professional traders
► Community platform with different options and tools for effective interaction by traders

“-“

► Offshore accounts in USD only
► US residents are not accepted

Is it easy to start with ForexVox?

Definitely. The verification procedure uses top-notch technology that allows clients to pass it very quickly, having just documents to hand and taking a selfie on your device. Clients can still download the documents required for verification in the standard way.

The next step for every trader is depositing. Since there is no minimum deposit at ForexVox, clients are free to transfer any amount they are comfortable with. The extensive list of payment methods contributes to simplicity of start: Bank transfer, Skrill, Neteller; VISA, Mastercard, Maestro Cards; EcoPayz, Perfect Money, AdvCash, AstroPaycard and different local payment agents.

What are the fees at ForexVox?

In this section let’s check all types of fees that any client may face.

► Deposit and withdrawal fee – 0 from the broker side but some payment methods may charge a certain amount during withdrawal.
► Inactivity fee – none
► Commission on trading – 0 on Standard account, $7/lot on ECN account

What trading platforms does ForexVox offer?

They offer several trading platforms to suit the needs of every trader.

ForexVox MT4 is a flexible trading system and can be installed on different devices and is available on desktop, mobile and web. MetaTrader 4 offers advanced technical capabilities including multiple chart types, differing time frames and over 50 technical indicators. It also allows for automated trading.

How about API trading at ForexVox?

There is a growing demand for Fix Protocol amongst traders and it seems that ForexVox understands it.

FIX API is an application based trading interface that allows clients to program their own trading strategies in FIX protocol and run algorithms without having to execute deals through a GUI (graphical user interface).

Through their accounts, clients are able to access ForexVox ECN matching engine using FIX 4.4 API, which means clients are given unprecedented direct market access. Applicable for any asset—including forex, CFDs and commodities—Fix Protocol offers an advanced trading option for anyone with API knowledge allowing to push hundreds of prices per second.

Head on over to ForexVox for further details

Does ForexVox provide a MAM solution?

Multi Account Manager (MAM) is the software that allows fund managers, money managers and portfolio managers to manage a multiple number of trading accounts at the same time with the use of one account.

They utilise state of the art MetaFX MAM software to support money managers with all their requirements. The key features of ForexVox MAM solution are as follows:

► Option to set multiple allocation types such as by equity, balance, percentage or lot
► Commission, markup and profit share settings are customized
► Adding and removing accounts in real time with no need to close positions
► Changing allocations at any time with no restrictions

What kind of education can ForexVox clients get?

The educational section is full of materials that are essential for both beginners and experienced traders. It includes Forex glossary, courses and a list of leading mentors.

Courses are led by ForexVox partners such as Stephen Hoad (The Stop Hunter founder), Petko Aleksandrov (EA Trading Academy Mentor) and Federico Sellitti (Head Mentor at It’s Trading Time).

Clients can also choose a mentor they want to follow – some examples are below:

► Beat Nussbaumer (over 35 years’ experience, has been quoted on Bloomberg, featured in City AM and is in demand by numerous channels for his knowledge and insight)
► Adam Harris (industry expert of 12 years)

The ability to get knowledge from the prominent Forex mentors shows that they are going to build long-term relationships with their clients and is not focused on making a fast profit.

Who can become a partner of ForexVox?

They offer an affiliate program on a revenue share basis that is open to everyone and doesn’t bring any disadvantages to clients introduced by an affiliate. Partner commission or so- called rebates are quite competitive on the market and affiliates can also benefit from multi level commission structures and introduce sub-affiliates.

ForexVox allocates a Personal Account Manager to every affiliate which makes the cooperation process smooth and comfortable. In addition, comprehensive and transparent reports allow you to monitor revenue in real-time as trades are closed.

To become an affiliate, all that needs to be done is create an account, apply for an affiliate and introduce business. The broker provides an opportunity for an affiliate to create their own chat room to keep in touch with their clients.

ForexVox Social platform – what is it?

The ForexVox Social platform is a unique feature that makes them stand out among all other brokers on the market.

It’s a kind of revolution in the world of Forex since the interaction between different counterparties of Forex has never been so possible and affordable. In addition, the platform includes all the tools that may be required by a trader and even more: chat rooms, public and private channels, market insights, newsfeed, charts, economic calendar, trading accounts, trading platform, affiliate dashboard, etc.

It’s hard to imagine something more useful and effective in terms of Forex synergy. No wonder that a lot of traders from all over the world are willing to join this hub.

Can you trust ForexVox?

Most definitely. ForexVox is FCA and FSA regulated and they take pride in strict adherence to the FCA’s regulatory regime which is fundamental to the their objectives of establishing a fair and transparent brokerage focused on customer success and service.

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