VoyaFX Review

Category: Reviews | Author: Trading Brokers | Date: January 30, 2024

VoyaFX is a forex broker that’s been making waves in the trading world, offering various services to meet traders’ individual needs. We’re going to dive deep into what makes this broker tick, from its proprietary platform to its wide range of assets. We’ll also take a look at its regulatory status, account types, and funding options. But remember, trading is risky business, so it’s always important to do your homework before diving in. So, buckle up and let’s get started on this journey through the world of VoyaFX.

Pros & Cons

  • Intuitive proprietary trading platform with fast execution
  • Wide range of CFDs including forex, indices, and stocks
  • Educational resources such as videos and webinars available
  • High minimum deposit requirements
  • Regulatory status is unclear and potentially unlicensed
  • Comparatively wide spreads on accounts.

Summary

VoyaFX

VoyaFX

VoyaFX is a forex broker that was established in 2001 and has since been committed to making its clients financially literate. With a team size of 410 and over 3600 clients, VoyaFX offers a range of products including Forex, Indices, Commodities, Stocks, and ETFs. The broker provides a user-friendly trading experience with its proprietary web platform, as well as the popular MetaTrader 4 and MetaTrader 5 platforms.

These platforms come equipped with a variety of tools such as real-time trading calendars, technical indicators, and market sentiment visualization to help traders optimize their strategies. One of the standout features of VoyaFX is its commitment to education. The broker offers a range of educational resources including videos, webinars, and a free e-book to help traders understand the risks and technical analysis of trading. In terms of account types, VoyaFX offers three options: Silver, Gold, and Diamond.

Each account type comes with its own set of features and requirements, catering to different trading needs. However, it’s worth noting that the minimum deposit requirement is quite high at $500, which might be a barrier for some traders. When it comes to funding, VoyaFX accepts deposits and withdrawals via Visa, MasterCard, Skrill, and Wire Transfer, providing flexibility for its clients.

Overall, VoyaFX appears to be a comprehensive broker that offers a wide range of services and resources for its clients. However, as with any broker, it’s important for traders to do their own research and consider their individual trading needs before making a decision.

AvaTrade Logo

Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

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

Regulation

Now, this is a biggie when it comes to choosing a forex broker. You want to know that your money is safe and that the broker is playing by the rules. So, what’s the deal with VoyaFX? Well, VoyaFX claims to be authorized, licensed, and regulated. It’s operated by Financial House Ever AD (EU regulated), Alchemy Prime Ltd (FCA UK regulated), and Global Clearing House Ltd (Vanuatu regulated) together. Ever Financial AD is registered in Bulgaria and is authorized and regulated by the Financial Supervision Commission.

However, it’s important to note that VoyaFX does not fall under any valid regulations. This means that while they claim to be regulated, there’s some discrepancy here that’s worth noting. So, what does this mean for you as a trader? Well, it’s always a good idea to tread carefully when there’s any uncertainty about a broker’s regulatory status. Remember, your hard-earned money is at stake. If you’re looking for some peace of mind, you might want to consider some alternative options. Please see a list of regulated forex brokers for some alternative options.

Platforms & Tools

VoyaFX offers a few different platforms for trading, including a web platform, MT4, and MT5. These are all pretty standard in the forex world, but each has its own unique features and benefits. The web platform is great for those who want to trade directly from their browser without downloading any software.

MT4 & MT5 Platforms

MT4 & MT5 Platforms

It’s user-friendly and accessible from anywhere with an internet connection. MT4, or MetaTrader 4, is a popular choice among traders. It’s known for its advanced charting capabilities, automated trading systems, and a wide range of technical indicators. MT5, or MetaTrader 5, is the newer version of MT4. It has all the features of MT4, plus some additional ones like more timeframes, more types of orders, and a built-in economic calendar.

Now, let’s talk about the tools VoyaFX offers:

  • Real-Time Trading Calendars: These are super handy for staying on top of market updates. You’ll get the latest economic and corporate earnings calendars, so you can plan your trades around major events.
  • Technical Indicators: These are essential for any trader looking to optimize their strategy. VoyaFX offers all the primary technical indicators, so you can analyze market trends and make informed decisions.
  • Market Sentiment Visualization: This is a cool feature that lets you trade using market sentiment data. It’s based on the latest breaking news, so you can see how the market is reacting in real-time.

Remember, each tool and platform has its own learning curve, so take the time to familiarize yourself with them before diving in.

Education

When it comes to education, VoyaFX seems to understand the importance of informed trading. They offer a variety of educational tools designed to help both newbies and seasoned traders sharpen their skills. Here’s a rundown of what they’ve got:

  • Technical and Fundamental Analysis: VoyaFX provides materials to help traders understand the intricacies of both technical and fundamental analysis. This is key for making strategic decisions based on market trends and economic data.
  • Videos: If you’re a visual learner, you’ll appreciate the video resources. These can range from tutorials to deep dives into trading concepts, offering a dynamic way to learn.
  • Financial News: Staying updated with the latest financial news is crucial for any trader. VoyaFX offers access to financial news, which can help you stay ahead of market movements and make timely decisions.
  • Webinars: For an interactive learning experience, VoyaFX provides webinars. These sessions are likely to cover a range of topics and offer the chance to learn from and interact with trading professionals.

Remember, while these resources can be incredibly helpful, they’re just one piece of the puzzle. Continuous learning and staying updated with market changes are key to successful trading.

Markets

When it comes to markets, VoyaFX has got you covered with a wide range of options. Whether you’re into forex, indices, commodities, stocks, or ETFs, there’s something for everyone. Let’s break it down:

  • CFDs on Forex: Forex trading is all about buying and selling currencies. With VoyaFX, you can trade CFDs on major, minor, and exotic currency pairs. This means you’re speculating on the price movements of these currencies without actually owning them.
  • Indices: If you’re interested in trading on the overall performance of a country’s stock market, then indices are for you. VoyaFX offers CFDs on major global indices, allowing you to speculate on market trends.
  • Commodities: Fancy trading on the price of gold or oil? With VoyaFX, you can trade CFDs on a variety of commodities. This can be a great way to diversify your portfolio.
  • Stocks: If you’ve got your eye on specific companies, you can trade CFDs on stocks with VoyaFX. This means you’re speculating on the price movements of these company’s stocks without actually owning them.
  • ETFs: ETFs, or exchange-traded funds, are a type of investment fund and exchange-traded product. With VoyaFX, you can trade CFDs on ETFs, giving you exposure to a range of assets with a single trade.

Remember, while trading on these markets can be exciting, it’s also risky. Make sure you understand the ins and outs of each market before you start trading.

Accounts

Alright, let’s talk about the different account types offered by VoyaFX. They’ve got three options to choose from: Silver, Gold, and Diamond. Each one comes with its own set of features and requirements, so let’s break it down:

  • Silver Account: This is the entry-level account. To get started, you’ll need a minimum deposit of $500. The spreads start from 2.1 pips, which is a bit on the higher side compared to some other brokers.
  • Gold Account: Stepping up from the Silver, the Gold account requires a heftier minimum deposit of $10,000. The spreads start from 1.5 pips, which is a bit more competitive.
  • Diamond Account: This is the top-tier account. To get in on this, you’ll need a whopping $25,000 minimum deposit. But, the spreads start from just 0.9 pips, which is pretty tight.

It’s important to note that these account types are only applicable to clients of Global Clearing House Ltd. They do not apply to clients who chose to open an account with FH Ever AD or Alchemy Prime Limited.

Regarding leverage, VoyaFX states that the leverage for retail investors trading CFDs is limited from 30:1 to 2:1, depending on the volatility of the underlying asset. Higher leverage is available for those investors who can qualify to be classified as either an Elective Professional Client or a Per Se Professional Client. But remember, while leverage can amplify your profits, it can also amplify your losses. So, tread carefully.

Funding

When it comes to funding your account, VoyaFX offers a few different options. Let’s take a look at each one:

  • Visa and MasterCard: These are pretty standard options for most brokers. You can use your Visa or MasterCard to deposit funds into your account. It’s quick, easy, and convenient. But remember, your card issuer might charge you a fee, so it’s worth checking that out.
  • Skrill: This is a digital wallet that allows you to send and receive money online. It’s a good option if you prefer not to use your bank card. Just keep in mind that Skrill does charge a fee for some transactions.
  • Wire Transfer: This is a more traditional method of transferring money. It’s secure and reliable, but it can take a few days for the funds to appear in your account. Also, your bank might charge you a fee for the service. One thing to note is that the minimum deposit requirement for VoyaFX is quite high at $500. This might be a bit steep for beginners or those with a smaller trading budget.

Remember, it’s always a good idea to check the terms and conditions of each funding method before you make a deposit. And as always, only invest what you can afford to lose.

Conclusion

In wrapping up, VoyaFX certainly brings some strong features to the table. From a variety of trading platforms and educational resources to a wide range of market instruments, there’s a lot to like. However, the high minimum deposit requirement and the uncertainty around its regulatory status might give some traders pause. It’s also worth noting that there are other brokers with longer track records that might be worth considering as alternative options. So, while VoyaFX could be a good fit for some, it’s always a good idea to explore all your options before making a decision. For additional choices, we encourage you to explore our trading brokers reviews.

VoyaFX Logo

$500

VoyaFX is a broker that offers access to more than 1,000 CFDs on forex, indices, commodities, stocks, and ETFs. The broker claims to offer three types of live trading accounts: Silver, Gold, and Diamond, with a minimum initial deposit of $500 for the Silver account. Trading can be conducted through MT4 and MT5 platforms.

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


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