MarketsVox
Pros and Cons
Pros
- Regulated by the Financial Services Authority (FSA) of Seychelles
- Offers over 70 currency pairs and diverse asset classes
- Trading platforms include MetaTrader 5 and Web Trader
- High leverage options available, up to 1:2000
- Customer support provided via email, live chat, and phone
Cons
- Regulated only by the Financial Services Authority (FSA) of Seychelles
- Limited educational resources for traders
- Customer support not available on weekends
- Negative reviews regarding withdrawal issues
- High leverage may lead to substantial trading risks
Basic Information
User Reviews
MarketsVox Overview
MarketsVox is a forex broker founded in 2018 and headquartered in Seychelles. Operating under the name MarketsVox (SC) Ltd, the broker is regulated by the Financial Services Authority (FSA) of Seychelles, which ensures compliance with relevant financial standards. This regulatory oversight enhances the credibility and reliability of the broker, making it a trustworthy option for forex traders seeking a regulated trading environment.
MarketsVox offers a range of trading services, focusing on various financial instruments including forex, commodities, and indices. The broker provides access to advanced trading platforms, enabling users to engage in effective trading strategies. Customer support is available to assist traders, ensuring responsiveness and effective communication. With competitive trading conditions and a commitment to providing valuable resources, MarketsVox distinguishes itself in the forex market, appealing to both novice and experienced traders alike.
Is MarketsVox Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Financial Services Authority (FSA) | Seychelles | Segregated Funds |
Is MarketsVox Regulated and How Are Client Funds Protected?
MarketsVox operates under the regulation of the Financial Services Authority (FSA) of Seychelles, holding a securities dealer license number SD 142. This regulatory framework provides a level of oversight that enhances its credibility within the forex market. Client funds at MarketsVox are held in segregated accounts, which helps to separate them from the broker’s operating funds, thereby providing some measure of protection. However, it is important to note that the FSA is considered a lower-tier offshore regulator, which means that while there are basic protections in place, they may not be as robust as those offered by top-tier regulatory authorities. Traders should be aware that the lack of a legally mandated compensation scheme and limited investor protection mechanisms could increase the risks associated with trading with this broker. Prospective clients should consider these factors carefully before deciding to trade with MarketsVox.
Trading Products and Services
What trading instruments does MarketsVox offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Over 70 currency pairs | Many |
| Commodities | Gold, Silver, Oil | Varies |
| Indices | Major global indices | Varies |
| Stocks | CFDs on US and UK stocks | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
MarketsVox provides a diverse range of trading instruments, allowing traders to explore various financial markets effectively. With access to over 70 forex pairs, commodities like gold and oil, and major global indices, the platform caters to the varied needs of both novice and professional traders. The inclusion of multiple asset categories enhances the potential for portfolio diversification, enabling users to adapt their trading strategies according to market conditions. This flexibility is crucial for traders looking to capitalize on different market opportunities, whether they prefer short-term trading or long-term investment strategies.
Account Types and Trading Conditions
What Account Types and Fees Does MarketsVox Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Cent Account | Beginners | High leverage up to 1:2000, no commissions | Suitable for small-capital practice |
| Standard Account | General Traders | High leverage up to 1:2000, no commissions | Popular choice for various trading strategies |
| ECN Account | Professional Traders | Leverage up to 1:1000, commissions apply | Requires a higher minimum deposit |
Account Opening Process
To open an account with MarketsVox, prospective clients need to submit personal, employment, and financial information. This process includes verifying identity through valid ID and proof of address. Once an account is established, traders can easily upgrade to a professional account if they meet the required criteria.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.1 | $0 (for Cent and Standard accounts) | Competitive spreads for major pairs |
| Forex (Other Pairs) | Varies | Varies | Based on market conditions |
| CFDs (Stocks, Indices, Commodities) | Varies | Varies | Dependent on asset liquidity |
| Cryptocurrencies (BTC, ETH) | Varies | Varies | Market-dependent pricing |
Other Fees
MarketsVox may charge fees associated with deposit and withdrawal transactions, which vary based on the method used. Inactivity fees may apply after a specified period of account inactivity. Overnight interest, or swap rates, may be applicable for positions held overnight, and currency conversion fees can occur if deposits are made in a currency different from the account currency.
Trading Platforms and Apps
What Trading Platforms and Apps Does MarketsVox Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 5 (MT5) | Windows, macOS, iOS, Android | 2FA, multiple order types, technical indicators, one-click trading | Demo account, social trading, MAM accounts |
| Web Trader | Any device with a web browser | Secure login, quick trading without download, market search | Demo account, VPS |
| Mobile App | iOS, Android | Push notifications, price alerts, quick access to trading | Demo account |
The MT5 platform is designed for advanced traders, providing a comprehensive set of tools including automated trading and detailed technical analysis. The Web Trader facilitates instant trading access without the need for installation, making it suitable for users on the go. The Mobile App enhances trading flexibility, allowing users to manage their accounts and receive real-time alerts directly from their smartphones, ensuring a secure and efficient trading experience across all devices.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 business days | No platform fee | Min $100, Max $50,000 | USD, EUR |
| Credit/Debit Card | Instant | No platform fee | Min $50, Max $20,000 | USD, EUR |
| e-Wallet (e.g., Skrill, Neteller) | Instant | 1.5% fee | Min $10, Max $10,000 | USD, EUR |
Minimum Deposit
The minimum deposit requirement at MarketsVox is $50 for standard accounts and $10 for Cent accounts. This requirement remains consistent across various payment methods, ensuring accessibility for both novice and experienced traders.
How to Withdraw
- Log in to your MarketsVox account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the withdrawal amount and any required information based on the selected method.
- Submit your withdrawal request and await processing.
- Check your account or email for confirmation regarding your withdrawal status.
Customer Support
MarketsVox Customer Support Overview
Support Channels
MarketsVox offers several contact methods for customer support, ensuring that traders can receive assistance when needed. The main support channels include:
- Email: Clients can reach out via support@marketsvox.com.
- Live Chat: Traders can access live chat support directly on the MarketsVox website, allowing for real-time assistance.
- Telephone: Support can also be contacted through phone at +248 4373790.
- Social Media: MarketsVox maintains a presence on various social media platforms for additional support and updates.
Service Availability
MarketsVox provides customer support during business hours, ensuring that traders can get help when they need it. The exact support hours may vary, so it’s advisable to check the website for the most current information. Additionally, multilingual support is available to cater to a diverse customer base.
Additional Resources
To enhance the trading experience, MarketsVox provides educational resources, including a comprehensive forex glossary to help users understand key terms in the forex market. This resource is particularly beneficial for both novice and experienced traders, aiding in their trading journey.
Frequently Asked Questions
Yes, MarketsVox is regulated by the Financial Services Authority (FSA) of Seychelles. Client funds are held in segregated accounts, which helps to protect them from the broker’s operating funds. However, it is important to note that the FSA is considered a lower-tier offshore regulator, which means that while there are basic protections in place, they may not be as robust as those offered by top-tier regulatory authorities.
MarketsVox offers a diverse range of trading instruments including over 70 currency pairs in forex, commodities such as gold and oil, major global indices, CFDs on US and UK stocks, and cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). This variety allows traders to explore different financial markets and adapt their trading strategies accordingly.
MarketsVox provides three account types: the Cent Account, which is suitable for beginners and offers high leverage up to 1:2000 with no commissions; the Standard Account, which is a popular choice for general traders with similar leverage and commission terms; and the ECN Account, designed for professional traders with a leverage of up to 1:1000, where commissions apply. Each account type caters to different trading needs and strategies.
MarketsVox offers several channels for customer support, including email at support@marketsvox.com, live chat available on their website for real-time assistance, and telephone support at +248 4373790. They also maintain a presence on various social media platforms for additional support. Customer support is available during business hours, and multilingual assistance is provided to accommodate a diverse clientele.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.