General Information & Regulation
VonWay is an online broker, registered in Saint Vincent and Grenadines, with the company behind it called VonWay Global Limited. Obviously, VonWay Global Limited is not subject to any regulation at this stage. Please be aware of the risk.
Market Instruments
Tradable financial instruments available on the VonWay platform is quite limited, only three classes, forex currency pairs, Crypto currencies and indices.
Minimum Deposit
Vonway Forex requires a minimum deposit of $50 – lower than what standard accounts typically cost – around $100 – 200. However, given the fact that Vonway does not fall under any regulation agencies, traders should stay away from this broker.
Leverage
Vonway Forex provides a leverage of up to 1:500 – this is not surprising for an unlicensed broker – leverage has been capped over concerns of retail traders losing too much of their investment in most of the world.
Spreads & Commissions
In terms of spreads and commissions, VonWay does not make this part clear, even the spread on the major EUR/USD pair. Unregulated brokers always like to hide their actual trading fees to scam more traders.
Trading Platform Available
When it comes to trading platform available, Vonway Forex provides access to an acclaimed trading platform – Metatrader 4.
Deposit & Withdrawal
Vonway Forex supports deposits via credit cards and wire transfers – please keep in mind that the latter are not eligible for refunds, and that applies to all transactions using them, not only ones with Vonway Forex.
