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Broker
Vorex
Unregulated
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Vorex

Cyprus
2018-10-22
2
1.74
Rating Index
Software
6.42
Licensed
0
Risk Control
1.2
Experience
5.73
Institution
0
Industry Classification
D
Unqualified
Trading Platforms
MT4 / MT5

Basic Information

  • Registered Region
    Cyprus
  • Operation Status
    Abnormal
  • Operating Period
    2018-10-22
  • Deposit Methods
    Not disclosed
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
  • Main Business
    FX
  • Business Type
    FX broker
  • Social Media
  • Contact Details
  • Type of Accounts
    Not disclosed
  • Trading Platforms
    MT4 / MT5
  • Withdraw Methods
    Visa, MasterCard, Bank Transfer, Neteller, Skrill, etc.
  • Auto Trading
    Not supported

Pros and Cons

Pros: User-friendly platforms, including MT4 and MT5; Quick deposit process. Cons: Unregulated status poses significant risks; numerous user complaints regarding withdrawal issues; lacks transparency in fees and supported account types.

Company Background

Vorex Trading LLC was established in Cyprus on October 22, 2018. The broker operates in the Forex market, focusing on providing online trading services. Despite its modern infrastructure, Vorex lacks valid regulatory oversight, leading to concerns about its trustworthiness in the financial community.

Fund Security

Vorex does not provide detailed information regarding fund safety measures. As an unregulated entity, it lacks necessary protections such as segregated accounts or participation in compensation schemes which may leave client funds vulnerable.

Account Opening

Specific account types and associated features are not detailed. There is no disclosure regarding minimum deposit requirements or the account verification process. Overall, this lack of information may deter potential clients.

Trading Fees

Information about trading fees such as spreads, commissions, or any associated deposit/withdrawal costs is not disclosed. User reviews indicate concerns over hidden fees, which could negatively impact trading profitability.

Trading Instruments

The broker primarily focuses on Forex trading. Details on additional asset classes such as CFDs, stocks, or commodities are not provided, indicating a limited range of trading instruments available to users.

Trading Technology

Vorex offers trading through MT4 and MT5 platforms, known for their reliability and comprehensive trading features. However, specifics on execution speeds, order types, or advanced tools are not mentioned, raising questions about their technology infrastructure.

Research and Education

There are no available resources related to market analysis, educational content, or any trading guides. The absence of educational offerings may hinder new traders from effectively utilizing the platform.

Customer Support

Customer support is available via email, but the quality and response times remain unverified. Critics have pointed out that support might not be adequately responsive, especially in addressing withdrawal concerns.
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Rating Instructions
Rating Index
Vorex
Vorex
Unregulated
Legal Environment
6.42
License Value
0
Risk Management
1.2
Investor Protection
5.73
Regulatory Policy
0
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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