TravelEX is an online foreign exchange broker established in 2023, primarily offering investors trading services in financial derivatives such as foreign exchange, commodities, stocks, and indices. This broker mainly provides its services through its proprietary trading platform FX6 and does not support the well-known MT4 and MT5 trading platforms.
Company Background:
TravelEX is a newly established forex broker, but its website lacks transparency in information. Many key details are not disclosed, including the company entity, registration address, specific address, and senior management. The domain name of the broker was registered on December 18, 2023, which is only three months ago, thus falling within a relatively short registration period.
Regulatory Status:
In its website introduction, TravelEX claims to be regulated by the Vanuatu Financial Control (VFC) and holds a regulatory license from the institution, but does not provide the license number. Investors should note that the regulatory body mentioned by TravelEX, Vanuatu Financial Control (VFC), is not the Vanuatu Financial Services Commission (VFSC). Investors are advised to carefully differentiate. Vanuatu Financial Control (VFC) is not well-known and does not actually regulate the forex-related services provided by TravelEX.
TravelEX is currently not regulated by any regulatory bodies. If investors use the services provided by this platform, it may involve significant trading risks.
Account Opening Process:
- Visit the TravelEX homepage
- Click the "Register" button in the top right corner
- Choose your preferred language
- Fill in the necessary registration information, including a valid email address and setting up a password.
After completing these steps, you can successfully register and create a TravelEX account.
Account Types:
The official website of TravelEX does not provide detailed information about account types, so it is unclear whether the platform offers different types of accounts. The lack of disclosure about account types may make it difficult for potential investors to understand the specific trading conditions and features offered by the platform. Before deciding to trade with TravelEX, investors are advised to seek more information about the platform's account types from other reliable sources to make an informed decision.
Trading Products:
TravelEX offers a diverse range of trading products, including foreign exchange, commodities, stocks, and indices.
- For forex trading, the platform provides leverages up to 1:1000, covering 52 currency pairs, with floating spreads, and supports demo accounts.
- For commodities trading, the maximum leverage is 1:500, covering gold, crude oil, silver, etc., also with floating spreads and demo accounts.
- For stock trading, the maximum leverage is 1:100, claiming to be suitable for the stocks of the world's largest companies, also supporting demo accounts.
- In terms of indices trading, the maximum leverage is 1:100, covering 120 global indices, also with floating spreads and demo accounts.
Trading Software:
TravelEX offers traders a proprietary trading software named "FX6". However, the security and reliability of this software are currently unclear. The trading software supports both mobile versions (including Apple and Android versions) and desktop versions. Although the platform offers a variety of trading tools and products, traders should carefully evaluate the trading software provided by TravelEX and ensure it is regularly updated for optimal trading performance.
Spreads and Commissions:
The official website of TravelEX does not disclose detailed information about spreads and commissions, so investors need to be cautious when choosing this platform. Spreads and commissions are important components of trading costs, significantly affecting investors' trading experience and profitability.
Customer Support:
The customer support options at TravelEX are somewhat limited, currently only supporting email. Users can contact the broker for further communication by sending an email to service@travelexltd.com.
Summary:
TravelEX is a forex broker that is not regulated by any regulatory authorities. Its website lacks key information such as company registration, detailed spreads, and commissions. TravelEX was established relatively recently and mainly provides services through its proprietary trading software FX6, whose security and reliability are unknown. Given these potential risks, investors should be cautious when choosing TravelEX and are advised to opt for legally regulated brokers with strict oversight.
Currently, TravelEX is marked as "suspected scam" on TraderKnows.
