Basic Information About Vonway:
Vonway is a forex broker established in 2017 in Hong Kong, headquartered in Hong Kong, with core businesses in forex, indices, stocks, and commodities. The official website of Vonway can be found at https://vonwayforex.com/, which only offers support in English.
The official Vonway website does not provide any regulatory information, neither reliable nor unreliable, only registration information is available, which has been verified as credible.
Is Vonway Safe? Does Vonway hold the appropriate financial regulatory licenses?
Information on the official Vonway website indicates that the company is registered in Hong Kong. Results from the Hong Kong Company Registry Integrated Companies Registry Information System (ICRIS) confirm that the company’s registration details are legitimate.
Furthermore, according to the Whois domain registration details, the company's official website domain was registered on June 19, 2020, with the registration now exceeding three years.
The official Vonway website does not provide any regulatory information for verification. The lack of regulation means the platform's reliability is very low, investors' fund safety cannot be guaranteed, and there is a high risk of losses.
Trading Instruments Offered by Vonway:
Vonway provides a variety of financial instruments for trading, including Forex, commodities, stocks, indices, etc. A diverse range of financial instruments can meet the needs of different user groups, and investing in familiar areas can have more advantages.
Each financial instrument has its characteristics, and diversifying investments across different cycles and categories of goods can help to spread risk, preventing complete failure due to sudden movements or drops, which is a common investment strategy.
Trading Software Provided by Vonway:
Vonway only offers the MT4 as its trading software, which, although is segmented into three portals, only separates the Android, iOS, and PC versions of MT.
The advantages of MT4 include deep liquidity, multi-platform compatibility, spreads as low as 0.0, and efficient order execution. It is a commonly used trading software.
Deposit and Withdrawal Methods at Vonway:
Vonway offers a variety of deposit and withdrawal methods to cater to the needs of different regions and user groups. However, it should be noted that all methods require one business day to process, meaning that during this time, the funds are neither secured nor transparent, posing a significant risk.
It is not explicitly stated whether there are any transaction fees or intermediary fees among the publicized methods.
It is important to note that the type of currency you can withdraw is determined by your account. For example, if your trading account is in USD, then withdrawals can only be made in USD.
Account Types and Leverage at Vonway:
Vonway offers two types of accounts, a standard account and a raw spread account, each catering to different types of users, allowing them to choose the account type that best meets their needs.
Both account types only reveal the leverage ratios and some information. The leverage for the standard account can go up to 1:2000, and the raw spread account up to 1:300. The standard account does not charge a commission, whereas the raw spread account charges $7 per lot.
Both types of accounts disclose little information, and the standard account has an exceptionally high leverage ratio. Investors are urged to choose carefully and to make a decision after assessing their risk tolerance.
Vonway Account Registration:
Information on the Vonway official website indicates that the company currently offers real and demo account registration links for investors.
The method of registration for a real account is as follows: Click "ACCOUNT" at the top of the homepage on the Vonway official website, then select "Live Account" to enter the registration page, where you can complete the registration for a real account by selecting or filling in details such as name, email, country, etc.
It is important to note that the registration pages for Vonway's real accounts and demo accounts are the same.
Additionally, the account registration pages on the Vonway website only support English.
Vonway Contact Information
Vonway currently offers a variety of contact options, including phone, email, physical address, and more, as well as a form submission feature.
Vonway Customer Reviews:
Currently, there are few reviews of Vonway online, and the positive reviews are concentrated around the dates August 28 and 29, each with four likes, suggesting possible rating manipulation. There are not a few negative reviews.
Overall, the number of online comments regarding Vonway is low, which is insufficient to draw a conclusion regarding reliability. Investors are advised to research carefully and weigh their options before deciding.
Advantages and Disadvantages of Vonway:
Advantages:
- Provides a variety of financial instruments, such as currency pairs, commodities, stocks, etc., allowing traders flexibility in operating across different markets and achieving diversified investment portfolios.
- Multiple contact methods, including via email, phone, physical address, and more.
- Offers a variety of accounts with different services, meeting the needs of different types of users, who can choose according to their needs.
Disadvantages:
- Lack of reliable regulation: The company has not disclosed any verifiable and trustworthy regulatory information.
- Few reviews: There is a low volume of discussion and reviews about the platform online, which may indicate potential risks.
- Lengthy deposit and withdrawal time: Transactions take a full day to process, posing a significant risk to the funds.
Frequently Asked Questions:
- Question: Is Vonway regulated?
Answer: Currently, Vonway has not made any regulatory information public, and can be considered unregulated.
- Question: What are the deposit methods at Vonway?
Answer: Vonway offers several deposit methods, including: Credit & Debit Card, Echelon Pay, Walao Pay, Paytrust, Fpx.
- Question: Is Vonway legitimate?
Answer: Based on the absence of regulatory information provided by Vonway, it is a legally registered company. However, investors are reminded that the legality of a company does not equate to safety, and the lack of regulation represents a high level of risk.
- Question: What is the maximum leverage provided by Vonway?
Answer: The maximum leverage for Vonway's standard account is 1:2000.
Conclusion:
Vonway performs well in terms of service diversity, with a variety of product categories and contact methods. However, severe deficiencies in regulatory information and a lack of transparency on many important issues result in poor platform security.
Currently, Vonway is labeled as "Suspected of Fraud" on Traderknows.
