According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $500
- VoyaFX Clever Trade (web, mobile app)
- FSC
Our Evaluation of VoyaFX
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
VoyaFX is a moderate-risk broker with the TU Overall Score of 6.09 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by VoyaFX clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
VoyaFX offers trading on standard STP accounts on its proprietary trading platform, but its requirements for the initial deposit are much stricter than those of many Forex brokers. VoyaFX spreads are not the lowest in the market, but there are no additional commissions for trading or fund transfers.
Brief Look at VoyaFX
VoyaFX is a multi-company brand providing regulated brokerage services in EU countries, the EEA (European Economic Area), and beyond. The brand has been operating in financial markets for over 30 years, and since 2009 has launched Trading212, another company also regulated by FCA (Financial Conduct Authority | UK) and CySec (Cyprus Securities and Exchange Commission). VoyaFX is also the name of the trading platform through which you can trade fiat currencies, cryptocurrencies, and various CFD types with leverage.
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- The brand is registered with many European regulatory bodies.
- There is a simple pricing model in which traders incur costs only on the spread, without additional commissions.
- There are various trading instruments available, especially for clients outside the EU.
- There are no commissions for depositing and withdrawing funds.
- The brand offers sufficiently high leverage compared to other regulated brokers in the EU.
- The brand provides an easy-to-use yet functional proprietary platform with TradingView charts.
- Copy trading is available and can be used for additional earnings by experienced traders and beginners.
- To start Forex trading, $500 is the minimum amount required to deposit into a VoyaFX account.
- The brand does not offer cent accounts, so there is no opportunity to test its performance under exploratory conditions with minimal investments and risks.
- The order processing model offered is STP (Straight Through Processing). ECN technology, preferred by many professional traders, is not available.
TU Expert Advice
Financial expert and analyst at Traders Union
VoyaFX clients have been provided with the proprietary development VoyaFX Clever Trade for trading. Initially, this platform was only available in the WebTrader format, although it worked on various devices, including smartphones. However, in July 2023, a mobile application was released. It supports all major functions, including active CFD trading, copy trading, as well as account and fund management.
VoyaFX broker offers both floating and fixed spreads. Its clients can switch between different spread types every 24 hours, provided there are no open positions or pending orders. When switching to fixed ones during low liquidity and/or high volatility, a trader can reduce commission losses, as significant broadening is inherent in floating spreads.
The broker claims its spreads are very low, but our commission check showed this is not the case. A large sum of $10,000 must be deposited into the account to trade on favorable terms. Trading is conducted with inflated spreads on lower deposits. VoyaFX does not offer cent accounts, trading education, or access to managed accounts. Bonuses are available now and then, but there is no affiliate program.
VoyaFX Trading Conditions
Your capital is at risk. 79.43% of retail investor accounts lose money when trading CFDs with this provider. VoyaFX Ltd and its affiliates do not target EU/EEA/UK clients. It is the user's responsibility to ensure that any use of the website or services adhere to local laws or regulations. Please be aware that you are able to receive investment services at your own exclusive initiative only, ensuring you fully understand all the risks involved.
| 💻 Trading platform: | VoyaFX Clever Trade (web, mobile app) |
|---|---|
| 📊 Accounts: | Silver, Gold, Diamond |
| 💰 Account currency: | USD, EUR, GBP |
| 💵 Deposit / Withdrawal: | Credit and debit cards, Skrill, IDEAL, bank transfers |
| 🚀 Minimum deposit: | $500 |
| ⚖️ Leverage: | Up to 1:100 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 2,1-2,8 pips |
| 🔧 Instruments: | Forex, stocks, commodities, indices, cryptocurrency |
| 💹 Margin Call / Stop Out: | Margin Call is 70% |
| 🏛 Liquidity provider: | Bank of America, JP Morgan, Citibank, UBS Group, and HSBC, etc. |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Order execution: | Market and instant |
| ⭐ Trading features: | Switching between floating and fixed spreads is possible |
| 🎁 Contests and bonuses: | Yes (occasionally) |
The VoyaFX platform supports trading with leverage. The maximum value depends on the class of the trading instrument. For currency pairs, it is up to 1:100; for indices, it is up to 1:25-1:100; for stocks, cryptocurrencies, and natural gas, it is up to 1:20; for metals, it is up to 1:50-1:100; and for oil and wheat it is up to 1:50. The main payment methods are Visa, Mastercard, Skrill, and bank transfers, although alternative payment methods are available for each country. The minimum initial deposit is $500, subsequent deposits are $100.
VoyaFX Key Parameters Evaluation
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Trading Account Opening
To become a VoyaFX client, open a user account by following the steps below:
Click "Register" at the top of any page on the official VoyaFX website. If you know exactly what account type you want to open, select it from the "Account Types" menu and click "Open" under the specifications.
Next, fill out the account opening form and provide a minimum of personal data, such as name, phone number, and email address. Choose the trading account currency and create a strong password to protect your account from unauthorized access.
The VoyaFX user account is integrated with the trading platform, so the trader can:
Your VoyaFX user account also allows you to:
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Create lists of favorite trading assets.
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Read news and fundamental data on the selected asset.
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Generate statistics for all open and closed orders.
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Calculate transaction fees, such as spreads and swaps.
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Use the copy trading platform.
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Review transactions created by the broker.
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Change language, theme, and login password.
Regulation and safety
VoyaFX has a safety score of 9.8/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Regulated in the UK
- Track record of less than 8 years
VoyaFX Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 FCA UK |
Financial Conduct Authority | United Kingdom | Up to £85,000 | Tier-1 |
 BVI FSC |
British Virgin Islands Financial Services Commission | British Virgin Islands | No specific fund | Tier-2 |
 BaFin |
Federal Financial Supervisory Authority | Germany | Up to €20,000 | Tier-1 |
 CySec |
Cyprus Securities and Exchange Commission | Cyprus | Up to €20,000 | Tier-1 |
 CNMV |
Comisión Nacional del Mercado de Valores | Spain | Up to €100,000 | Tier-1 |
VoyaFX Security Factors
| Foundation date | - |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker VoyaFX have been analyzed and rated as High with a fees score of 3/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
- Withdrawal fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of VoyaFX with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, VoyaFX’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
VoyaFX Standard spreads
| VoyaFX | Pepperstone | OANDA | |
| EUR/USD min, pips | 2,1 | 0,5 | 0,1 |
| EUR/USD max, pips | 2,8 | 1,5 | 0,5 |
| GPB/USD min, pips | 2,5 | 0,4 | 0,1 |
| GPB/USD max, pips | 3,3 | 1,4 | 0,5 |
Does VoyaFX support RAW/ECN accounts?
As we discovered, VoyaFX does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with VoyaFX. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
VoyaFX Non-Trading Fees
| VoyaFX | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0-3,5 | 0 | 0 |
| Withdrawal fee, USD | 0-30 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
After registering on the VoyaFX website, traders are automatically directed to the web platform. The account type provided is automatically determined based on the deposit amount. A trader can have one user account and one live account with VoyaFX. No demo account is available, so training with virtual funds is impossible.
Account types:
The broker complies with the requirements of regulatory bodies in different countries, so the commission amount and the trading assets range for its clients may differ.
Deposit and withdrawal
VoyaFX received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
VoyaFX offers limited payment options and accessibility, which may impact its competitiveness.
- Bank card deposits and withdrawals
- No deposit fee
- Bank wire transfers available
- Low minimum withdrawal requirement
- BTC payments not accepted
- Wise not supported
- Minimum deposit above industry average
What are VoyaFX deposit and withdrawal options?
VoyaFX offers a limited selection of deposit and withdrawal methods, including Bank Card, Bank Wire, Skrill. This limitation may restrict flexibility for users, making VoyaFX less competitive for those seeking diverse payment options.
VoyaFX Deposit and Withdrawal Methods vs Competitors
| VoyaFX | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | No | No | No |
What are VoyaFX base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. VoyaFX supports the following base account currencies:
What are VoyaFX's minimum deposit and withdrawal amounts?
The minimum deposit on VoyaFX is $500, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact VoyaFX’s support team.
Markets and tradable assets
VoyaFX provides a standard range of trading assets in line with the market average. The platform includes 1000 assets in total and 50 Forex currency pairs.
- 1000 assets for trading
- 50 supported currency pairs
- Indices trading
- Copy trading not available
- Bonds not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by VoyaFX with its competitors, making it easier for you to find the perfect fit.
| VoyaFX | Plus500 | Pepperstone | |
| Currency pairs | 50 | 60 | 90 |
| Total tradable assets | 1000 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | No | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products VoyaFX offers for beginner traders and investors who prefer not to engage in active trading.
| VoyaFX | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | Yes | Yes | Yes |
| Copy trading | No | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Customer support
The trader can receive assistance from various departments at VoyaFX. The client support, marketing, and compliance departments are available via email, with some also reachable by phone. The support is available 24/5.
Advantages
- 24-hour support on weekdays
- The website lists the email addresses of all departments
Disadvantages
- It is not possible to contact a representative via live chat
- The ticket system in the user account is absent
To receive support, traders can use the following methods:
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Fill out the feedback form.
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Contact the company via email.
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Call the phone numbers listed on the website.
You can provide your phone number, not just email, in the feedback form. This option is for those who prioritize phone support.
Contacts
| Registration address |
Ever Financial AD, 1303, Stamboliiski Blvd, Sofia, Bulgaria Ever Financial Ltd, 1276 Kumul Highway, Port Vila, Republic of Vanuatu |
|---|---|
| Regulation | FSC |
| Official site | https://voyafx.eu/ |
Education
On the VoyaFX website, there are no educational articles or video tutorials. The company promises to provide access to an educational portal for clients who have deposited $10,000 or more. The basic concepts of trading are explained in documents available on the website.
A demo account cannot be opened on the VoyaFX platform. This is a significant drawback for traders because trading in a simulator would allow them to develop the necessary skills and psychologically prepare for entering the real market.
Comparison of VoyaFX with other Brokers
| VoyaFX | Eightcap | XM Group | RoboForex | Bybit | InstaForex | |
| Trading platform |
VoyaFX Clever Trade (web, mobile app) | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MetaTrader5 | MT4, MultiTerminal, MobileTrading, MT5, WebTrader |
| Min deposit | $500 | $100 | $5 | $10 | No | $1 |
| Leverage |
From 1:1 to 1:100 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:1000 |
| Trust management | No | No | No | No | No | Yes |
| Accrual of % on the balance | No | No | No | 10.00% | No | No |
| Spread | From 1.5 point | From 0 points | From 0.8 points | From 0 points | From 0 points | From 0 points |
| Level of margin call / stop out |
70% / No | 80% / 50% | 100% / 50% | 60% / 40% | No / 50% | 30% / 10% |
| Order Execution | Market Execution, Instant Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Instant Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | No | Yes |
Detailed Review of VoyaFX
As a regulated broker in the EU, VoyaFX ensures the highest level of client fund security. Client funds are held in licensed banks, such as Unicredit Bulbank, the largest bank in Bulgaria. The company has offices in Luxembourg, France, Bulgaria, the UAE, and Vanuatu. Service for existing and potential clients is available 24 hours a day. The broker also provides the most secure payment gateways among the available funding methods.
VoyaFX by the numbers:
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In business 30+ years.
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150+ currency pairs.
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Proprietary platform downloaded by 100,000+ traders.
VoyaFX is a broker that tailors trading conditions to the requirements of regulatory bodies in different countries.
Clients from the European Economic Area can trade around 200 financial instruments, including currencies, indices, stocks, and commodities. Traders from other regions have access to over 1,000 assets. The range of CFDs on stocks significantly differs. EU residents can trade stocks from Germany, the UK, and the U.S. Traders from other countries can also invest in Brazil, Canada, Korea, India, Japan, and European stocks. Cryptocurrencies have recently been added. While their number is limited to Bitcoin, Ethereum, and Ripple, unique instruments such as Bitcoin Futures, Bitcoin ETF, and Bitcoin Short ETF are also available.
The VoyaFX trading platform supports Market and associated orders in two varieties of stop loss and take profit, entry (limit and stop). The Platform automatically sets the pending order type according to the trader's instructions and the current market price and provides news from leading banks. It offers over 50 indicators, 10 timeframes, and 7 chart types.
VoyaFX’s analytical services:
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Live statistics. When choosing a financial instrument, the trading platform displays statistics that show the change of its price in percentages using three increments: 5 minutes, 1 hour, and 24 hours.
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Market Info. Clicking on an asset in the trading platform brings up data and news that can aid in technical and fundamental analysis.
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Newsfeeds and reports. The information is broadcast live from leading banks on the trading platform. The banks include Barclays, Morgan Stanley, Bank of America, and JP Morgan.
Advantages:
There are three account types from various groups of traders.
24-hour technical support on Forex market trading days.
There is a wide range of CFDs with leverage up to 1:100.
Simple account opening and accounts are verified within 1 working day.
Proprietary social trading platform with built-in risk management tools.
The proprietary VoyaFX platform works on desktop and mobile devices, is customizable to a trader’s preferences, and allows for quality technical analysis.
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