ForexVox Review

Richard Montana | November 17, 2022

ForexVox is a forex and CFD broker that provides you with intuitive platforms and all of the necessary tools for analysing the markets, placing and managing trades. You can choose from a good range of over 100+ financial instruments to trade online including currency pairs, indices and commodities such as oil, gold and silver. The broker is FCA regulated and requires no minimum deposit to get started with a variety of convenient payment options to choose from. You can even open a free demo account if you want to get a feel for what they have to offer before making a financial commitment. I think they can be worth consideration for anyone who is looking to trade in a regulated environment with plenty of educational resources and dedicated support to help you reach your individual trading goals.

Summary

ForexVox is headquartered in London, UK. The broker was formed back in 2019 by an experienced team of traders who have an understanding of what other traders are looking for. They combine very competitive trading conditions with educational resources to help clients become better traders so that they can make informed trade decisions. I appreciate how the broker is focused on customer success and providing top class customer service to all traders, regardless of your investment size or experience level. It is also good to see that they have a chatroom as we all know that day trading can be a lonely profession at time. It takes just a few minutes to signup for account which will give you access to trade a generous range of instruments across the global markets with very competitive pricing and quick execution speeds.

Regulation

When it comes to choosing a forex broker, regulation is one of the first things to look out for. ForexVox is a Trading Name of Valutrades Limited. Valutrades Limited is authorised and regulated by the Financial Conduct Authority (FCA). This means that the broker must adhere to the rules and regulations that have been set out to ensure they deliver a fair and transparent environment to traders.

The broker also has an entity based in the Seychelles. ForexVox (Seychelles) is a trading name of VALUTRADES (SEYCHELLES) LIMITED who are authorized and regulated by the Financial Services Authority of the Seychelles (FSA). Just keep in mind that not all regulators are the same so the products and features may vary depending on the entity that you sign up under.

Platforms

MetaTrader

You can trade with ForexVox using the ever popular MetaTrader 4 and MetaTrader 5 platforms. It is worth noting that MT5 is available for users under FCA regulation only. These are considered as the industry standard by forex traders and brokers all over the world. It is free to download and use on desktop and mobile. It has an intuitive interface that can be fully customised according to your own preferences. You can follow real time price quotes in the market watch window and load charts of all your favourite instruments to conduct market analysis using a plethora of built-in trading tools. You can choose to trade manually or experiment with automated trading strategies commonly referred to as expert advisors (EAs) within the platform. There is also a strategy tester where you can back test EAs over historical data to get a rough idea of how they trade.

MetaTrader Platforms

MetaTrader Platforms

I have used MetaTrader for many years and feel that it is the most user-friendly of all trading platforms that I have tried. I think that it makes everything from charting to trading a breeze. The desktop platform has full functionality whereas the web platform can run directly in your web browser without you needing to download and install any additional software. Then you have the MetaTrader app which can be handy for those of you who want to access your account and trade via a modern and sleek trading app whilst in the move. All in all, MetaTrader is one of the best trading platforms for anyone who is looking to get convenient access to trade online with minimal fuss.

MetaTrader Features

  • User-friendly trading platforms for manual and automated trading
  • Versatile access to trade on your desktop, web and mobile devices
  • Fully customisable interface with intuitive navigation
  • Realtime price quotes via the market watch window
  • Multiple chart types and timeframes to choose from
  • Lots of technical indicator and drawing objects for analysis
  • Supports various order types including instant, pending and limit
  • MQL editor to develop customised trading tools
  • Strategy tester to backtest automated systems
  • Once-click trading directly from the charts
  • Create custom price and indicator alert notifications

API

For those of you who are professional traders and looking for institutional trading conditions with direct market access, you will be pleased to see that ForexVox have a powerful API solution. This allows you to benefit from customised feeds and access the brokers innovative ECN matching engine using FIX 4.4 API which is designed for real time, custom institutional interfaces which can push hundreds of prices per second. The main advantages of the API are that it can help to give superior pricing which can reduce costs and improve the efficiency of your trading whilst ensuring transparency.

API Features

  • High speed execution
  • Customised price feeds
  • System reliability
  • Superior pricing
  • Transparent trading

Multi Account Manager (MAM)

The ForexVox Multi Account Manager is software that integrates into your MT4 platform which allows money managers to place orders in bulk, in an unlimited number of accounts. The process is fast, efficient and can be executed from one trading terminal. ForexVox utilises the state of the art MetaFX MAM software to support money managers with all their requirements.

MetaFx MAM

MetaFx MAM

The MetaFX Multi Account Manager is the most versatile system on the market, designed to provide the professional trader the essential integrated software tools to quickly and conveniently allocate and manage funds under master account arrangement in live trading conditions with minimum risks.

MAM Features

  • Multiple allocation types such as by equity, balance, percentage or lot
  • Add and remove accounts in real time with no need to close positions
  • Change allocations at any time with no restrictions
  • Commission, mark-up and profit share settings all available
  • Executing trades is as simple as using a regular MT4 terminal
  • All allocations and reporting are performed in real time
  • MetaFX MAM Manager platform available to all money managers

EconQ Social Platform

The EconQ platform can be used with ForexVox as a tool for traders and investors to communicate with each other. It is a way to share ideas and learn from the valuable experience of others within the community. The web platform is customisable and enables you to conveniently set up everything that you and your trading community needs in one place.

EconQ Social Platform

EconQ Social Platform

ForexVox have specifically implemented the EconQ platform to give their clients additional benefits of a social trading platform, by inviting professional advisors and mentors to share their experience and trading signals with other clients of ForexVox. This is quite an innovative feature that have not seen from many other brokers so helps them stand out from the already crowded brokerage industry.

EconQ Features

  • Integrate with trading platforms
  • Chatrooms (both public and private)
  • Trading signals and subscriptions
  • Content sharing between users
  • Learn from other traders
  • Customised widgets
  • Affiliate dashboard
  • Be part of an active community

Tools

ForexVox provide you with all of the tools that you need to analyse the markets and find trading opportunities. They help to make trading online an enjoyable experience for all traders, regardless of your experience level.

Education

This is an area in which I feel the broker puts great emphasis. It is always nice to see a broker that has a variety of educational content as it shows me that they care about giving clients the necessary resource required for making informed trading decisions.

ForexVox has teamed up with premier teachers, exchanges and news providers. This is so that they can provide you with the knowledge that you will need on your journey to becoming the best trader you can be. You will find that they have created courses with its partners which are certified by major exchanges which helps to add authenticity.

They have also created chatrooms with industry experts who are available to help with your education. Chatrooms include:

  • Reflex Trading: Providing strategies and trade ideas using a unique colour coded trading system
  • Tech Trader: Daily technical analysis and a personal touch when it comes to discussing trade set ups
  • MacroBeat: Join Beat Nussbaumer and see how a tier 1 bank trader navigates his day live
  • HF Systems: Access to short-term, systematic trading signals covering a wide range of currency pairs
  • Trading with Elliott: This is an Italian chatroom with real time updates and signals including complete daily analysis with charts and videos

Markets

I found ForexVox to have a generous offering when it comes to financial instruments. You can trade CFDs on currency pairs, major indices and commodities including oil, gas and the precious metals gold and silver. I think there should be enough for the average retail trader to create a diversified portfolio. However, I do think it would be great if they could add support for some more individual stocks in the near future.

Accounts

The broker has a choice of account types which you can choose from depending on your trading strategy and experience. It doesn’t matter whether you are a beginner or a seasoned pro, they have got you covered.  ForexVox provides market execution. This means that you orders are executed at the prices available on the market without any requotes. I was glad to see that they do not set any restrictions on the trading strategy that you want to use. Therefore, you should be able to use scalping strategies and automated trading systems.

Standard Account

This account type has no minimum deposit which is great although it is recommended to start with at least $100. There is no commission on your trades which does mean there will be a small spread mark-up which is normal as it covers the cost to the broker. It may not be the ideal account if you are using strategies that require tight spreads, but could be an option if you are holding positions for the mid-long term and prefer not to pay a commission fee.

ECN Account

This account type also has no minimum deposit although it is recommended to start with at least $500. The ECN account grants you access to much tighter spreads and an ECN trading environment. The ECN (Electronic Communication Network) account is a choice of professional traders who want the best possible trading conditions. The ECN account allows buyers and sellers to trade directly without any dealing desk interference. If you are using spread sensitive strategies that require the quickest execution speeds, this account may be preferable.

Swap-free Accounts

It is good to see that ForexVox offer swap free accounts for Muslim traders who can’t receive or pay swaps. The swap free account is interest free and still allows traders to take advantage of the brokers deep liquidity and top-rated trading technology.

Demo Accounts

The broker also provides you with the option of a free demo account. This can be a good way to get a feel for what they have to offer and practice your trading strategies without taking any risk. I would always like to test a broker using a demo account to begin with just to make sure that they are suitable for my trading style. You can always make the seamless switch over to a real account if and when you feel ready to do so.

Support

The broker offers a professional customer support team who are always on hand to help traders with any assistance they may need. The support team can be contacted via telephone, email, online form, live chat and various social media channels. I found them a pleasure to deal with.

Funding

I was pleased to see that ForexVox support a generous selection of quick and easy funding options. You can make deposits and withdrawals with minimal fuss using bank transfer, card payments and e-wallets. I actually prefer the digital wallet options as I find this is the most convenient way for me to move funds around between my trading accounts. It is also quicker than bank transfer which can take a few days to clear. I may not want to sit around waiting for funds to land in my account, especially if there is some unexpected market news that I want to try and capitalise on. The broker has local depositors and payments for almost every region in the world, like FasaPay, STICPAY and more. They can also accept crypto which is an advantage over many other brokers who dont currently.

Compare Broker Features

Compare Brokers (vs Our Top 3 Brokers)
This BrokerAvaTradeIGIC Markets
Founded200619742007
RegulatedADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSAASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFAASIC, CySEC, FSA, SCB
Min. Deposit$100$250$200
CommissionFrom $0From $0From $0
SpreadsFixedVariableVariable
Leverage1:4001:2001:500
InstrumentsForex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFsForex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFsForex, Commodities, Crypto, Stocks, Indices, Bonds
PlatformsMetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTradeMetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX APIMetaTrader 4, MetaTrader 5, cTrader
FundingBank Transfer, Credit/Debit Card, E-WalletsBank Transfer, Credit/Debit Card, E-WalletsBank Transfer, Credit/Debit Card, E-Wallets
TradeTradeTradeTradeTradeTradeTradeTrade

Conclusion

Overall, I am pleased with the range of trading products and services that ForexVox provides. You can get quick and easy access to a good range of over 100 trading instruments, especially when it comes to forex trading. They provide you with user-friendly platforms for all of your devices and some resources to help you find trade opportunities and make informed decisions. I found them to have very competitive trading conditions including tight spreads and fast execution through tier 1 bank liquidity. If you are looking to be part of a community and learn from others, whilst trading in a regulated environment with minimal fuss, then I think ForexVox are certainly with consideration.

Forex Vox Logo

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ForexVox have a good variety of financial instruments for trading via user-friendly platforms with tight spreads and quick execution speeds. There is an innovative social platform where you can learn from experience traders and you can get access to a range of analytical tools, resources, and educational content to help you master your trading strategies.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

About the Author

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Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.