VOYAFX Review

VoyaFX.com in brief

The voyafx.com website combines the long-standing efforts of a brokerage company to offer its clients a truly easy-to-use platform, fast order fulfillment and good instrument spreads. All this, backed by polite and professional customer service, provides a great investment opportunity. VoyaFX’s mission is to introduce an innovative and friendly investment environment for retailers to join global markets, the website said. VOYAFX offers online trading of CFDs on currency pairs, commodities, indices, and shares, through its own web-based terminal. The minimum initial deposit is USD500.

Account Types

Customers can open three types of real accounts by choosing the right one for them. They differ mainly in the minimum deposit required and the offered spreads.

Silver Account – The minimum required deposit is USD 500. More than 1000 instruments are available for trading and the spreads for the major currency pairs start from 2.1 pips.

Gold Account – You can start trading by investing USD 10,000 and the spreads for the major currency pairs start from 1.5 pips. In addition to the features of the silver account, here you will also receive some educational materials.

Diamond Account – The minimum required deposit is USD 25,000 and the spreads for the major currency pairs start from 0.9 pips. In addition to the features of the gold account, here you will get a technical and fundamental analysis.

What Do Legal Documents Show?

The Terms and Conditions files confirm that retail clients are covered by the Negative Balance Protection Policy. This means that they cannot lose more than the amount they have deposited. In the event of rapid market movements, which, despite the actions of the company, the customer’s trade balance is reduced to a negative number, it covers this negative amount at its own expense.

The default model of order fulfillment is the market execution model, where orders are subject to slippage. So, when the requested price shown to the client is not available, then the order will be executed at the next available market price. Slippage may incur to market, limit, entry stop and entry limit orders. However, it is noted that the stop orders (stop loss orders and trailing stop orders) are executed without slippage and the company covers the difference between the price at which the order has been submitted and the market price at which this order could be executed. In other words, stop loss orders are guaranteed, completely free of charge.

Fees

Usually, every trader pays the common fees such as spreads, swaps, and rollovers.

Deposits and Withdrawals

Customers can deposit funds to their accounts by bank transfer and credit, or debit cards (VISA and Mastercard). The minimum first deposit depends on the account type and is USD 500 for the silver account. Usually, when making transactions the bank or the relevant payment provider charges fees/commissions, which are covered by the client.

Withdrawals will be paid directly to the same account that has been used from the client to deposit money. Withdrawal requests will be processed on the same day that they are made. Withdrawal fees for each method of payment are covered by customers.

Trading Platforms

VOYAFX provides its own web-based trading platform that does not require any software installation and can be run on any browser or mobile device. There is a dedicated application available for download from the Google Play Store and from the App Store that is highly rated and has all the features of the web-based version. It is easy to use and reliable, helping customers to easily trade a huge range of assets. The web platform is the perfect solution for beginners and ordinary investors. There are a number of risk management features that can be implemented with a few mouse clicks. Hedging is also allowed.

In addition, traders can take advantage of the platform that has become the industry standard for years – MetaTrader 4 and the newer version – MetaTrader 5. Here they can enjoy spreads starting from 0.2 pips.

Assets

There are four asset groups available for trading and you will be able to trade with a maximum leverage of 1:100.

Currency Pairs – 260 currency pairs including major, minor, and exotic ones can be traded. Spreads depend on the account type and the minimum value for the EUR/USD pair is 0.9 pips.

Commodities – CFDs on 53 commodities are available for trading. They include Gold, Silver, Brent Oil, Crude Oil, other precious metals, cereals, food, and agricultural products. The spread for Gold is fixed at USD 0.7 and the one for Crude Oil starts from USD 0.098 (Platinum account).

Indices – Clients can trade spot CFDs on 40 indices, such as DAX (Germany40), CAC40 (France40), DJIA(US30), etc. The minimum value of the spread for the DAX index is 4.4 points and for the DJIA index it is 10.5 points.

Shares – VOYAFX offers more than 400 CFDs on shares of companies of 19 countries globally, including Apple, Facebook, Google and more. You will be charged a commission of EUR2 per deal regardless of the traded amount.

News

You can follow important news without having to open another application. The real-time news feed with important financial and corporate news is built into the platform. This way you can trade the important news directly from the terminal or the mobile application.

Summary

VOYAFX.com offers guaranteed stop loss orders at no extra cost. You have the choice to trade a huge set of instruments through the company’s own web-based platform. You can also take advantage of the world best platforms – MT4  and MT5 with spreads starting at 0.2 pips. There are 3 different types of accounts, which differ in the required minimum deposit and offered spreads. You can open a real account with at least USD 500.