Here are the 11 pros and cons:

Forex Vox Fact sheet

The best indicator of safety is whether the given broker is regulated or not. Forex Vox is authorized and regulated by the Seychelles Financial Services Authority (FSA). However, it should also be mentioned that the regulator is not very strict and there’s no other entity that regulates the broker. Forex Vox is registered as a Securities Dealer under license number SD028.

Forex Vox offers two account types to meet the needs of various trader types. Based on their trading method, some prefer to pay trading fees as spread markups while others prefer to pay commissions and trade with raw, market spreads.

Standard account

The Standard account doesn’t charge traders commissions. Instead, trading fees are added to spreads. The maximum available leverage on this account is 500:1, with a minimum lot size of 0.01 and the number of maximum open positions is unlimited. The margin call level is set to 100% and orders get stopped out at 50%. This account type is best suited for novice traders, position traders, and swing traders, as spreads are larger and no commissions are charged. 

ECN account

The ECN account is for more active traders, such as intraday traders, scalpers, high-frequency traders, etc. Available leverage is up to 500:1 and the account type has many similar features to the Standard account, such as a 100% margin call level, 50% stop-out level, and 0.01 minimum lot size. 

Trading fees with Forex Vox are low compared to other brokers. What’s more, there are no fees for deposits and withdrawals. In addition, there are no inactivity fees.

Comparing the fees of Forex Vox with other brokers

Let’s compare Forex Vox fees with other brokers to get a clearer picture of the broker’s fee policy.

Forex Vox fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Forex Vox fees compared to CM Trading fees

Forex Vox fees compared to plus500 fees

Forex Vox fees compared to XM fees

Forex Vox fees compared to AvaTrade fees

Forex Vox fees compared to Capital.com fees

Forex Vox provides traders with the most popular Forex trading platform, MetaTrader 4 (MT4). The platform is old, however, highly functional and reliable. For these very reasons, this platform remains the software of choice for many traders. 

MT4 was released in 2005 and became very popular right away. Consequently, you can find the largest pool of algorithms created just for the platform on the Meta Market. The trading algorithms of MT4 are called Expert Advisors (EAs), and they help automate trading and backtesting. In addition, there are a lot of custom-made indicators available for this platform. 

It should be noted that MT4 is offered by almost every other broker as well and Forex Vox is not unique in this offering. 

The broker also provides its clients with a web trading terminal and a mobile trading app based on MT4. The web terminal enables traders to place orders without the need to download and install the software.

The mobile app is based on MT4 and is highly functional. Traders have access to live charts and are able to place all types of orders. The app is a great way to keep track of market movements and the progress of your trades. 

Forex Vox offers a well-put-together glossary, which is critical in speeding up the learning process for beginner traders. In addition, the broker provides its clients with mentorship opportunities by renowned global market analyst and FX expert Beat Nussbaumer and professional tech trader Adam Harris. It should be mentioned that tools such as calculators and economic calendars are lacking and there are no webinars and seminars available other than the mentorship programs. 

For every financial service provider company great customer service is crucial for success. There is a huge pool of brokers and the competition is increasingly becoming more fierce. Forex Vox understands the importance of customer support very well and offers excellent customer service available in multiple languages. Live chat is available for both existing and potential clients. In addition, traders can contact the broker via email or phone call. 

To sum everything up, Forex Vox offers good trading fees and great customer service. In addition, the broker is regulated by the Seychelles Financial Services Authority (FSA) and therefore, can be trusted. However, it should be noted that the regulator is not strict. Maximum available leverage is 500:1 and negative balance protection is available. On the downside, the number of available trading instruments is not significant and is limited to 104 assets. Moreover, the trading platforms provided are limited to MetaTrader 4, but commission-free and spread-free accounts are available. We can safely say that Forex Vox is an average Forex broker.