Voco Markets Forex Broker

Voco Markets Review Summary in 10 Points Founded 2023 Registered Country/Region Comoros Union Regulation Unregulated Market Instruments Forex, Indices, Oil, Gold, Stocks, CFDs Demo Account Not Available Leverage Up to 1:400 EUR/USD Spread From 1.4 pips Trading Platforms MT5 Minimum Deposit USD 1000 Customer Support Phone, email, address, contact us form, Telegram What is Voco Markets？ Voco Markets, an international brokerage firm headquartered in the Comoros Union, provides a broad selection of financial instruments. These include Forex, Oil, Gold, Stocks, CFDs. It currently operates without valid regulatory oversight, which raises concerns about its legitimacy and liability. In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. In conclusion, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding. Pros & Cons Pros Cons • Multiple account types • Unregulated • MT5 trading platform • High minimum deposit • Floating leverage • Not accept clients from certain countries Pros: Multiple account types: Voco Markets offers a three account options tailored to different trading preferences and levels of experience. This allows traders to select an account type that aligns with their specific needs and trading style, providing flexibility and customization. MT5 trading platform: Voco Markets provides access to the MetaTrader 5 (MT5) platform, renowned for its advanced charting tools, technical indicators, and algorithmic trading capabilities. Floating leverage: Voco Markets offers floating leverage from 1:100 to 1:400, allowing traders to adjust their leverage levels based on market conditions and risk tolerance. This flexibility empowers traders to optimize their trading strategies and manage their risk exposure effectively. Cons: Unregulated: Voco Markets operates without valid regulatory oversight, which raises concerns about the protection of client funds and overall transparency. The lack of regulation can leave traders vulnerable to potential risks and uncertainties in the market. High minimum deposit: Voco Markets imposes a high minimum deposit requirement from $1000, which can be prohibitive for some traders, especially those with limited initial capital or those seeking to start with smaller account sizes. Not accept clients from certain countries: Voco Markets does not accept clients from specific countries such as Sudan due to regulatory restrictions. This limitation excludes traders from accessing the broker's services based on their geographical location, limiting market access and opportunities. Is Voco Markets Safe or Scam？ When considering the safety of a brokerage like Voco Markets or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage: Regulatory sight: Currently, this broker operates without any legitimate regulatory oversight, raising concerns about transparency and accountability. User feedback: There is a report about scam on WikiFX which severely questions the broker's reliability. This serves as a serious warning for anyone considering their services and urges utmost caution. Security measures: Voco Markets implements a robust Anti-Money Laundering (AML) policy, employing stringent security measures to prevent illicit activities. In the end, choosing whether or not to engage in trading with Voco Markets is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities. Market Instruments Voco Markets offers a diverse range of market instruments, traders can access the forex market, with a wide selection of currency pairs available for trading. Additionally, Voco Markets provides opportunities to trade indices, allowing investors to diversify their portfolios and capitalize on global market trends. The platform also offers commodities trading, including oil and gold, allowing traders to hedge against inflation and geopolitical risks. For those interested in equities, Voco Markets provides access to stocks from major global exchanges, enabling traders to capitalize on individual company performance. Furthermore, the platform offers Contracts for Difference (CFDs), providing flexible trading options across multiple asset classes. Account Types Voco Markets offers three distinct account types to meet the varied trading needs of its clientele. The Standard Plan Account requires a minimum deposit of $1000, providing traders with access to essential trading features. For those seeking more personalized support and tighter spreads, the Elite Plan Account demands a minimum deposit of $15000. Lastly, the Pro Plan Account, requiring a minimum deposit of $50000, offers premium features tailored for advanced traders. How to Open an Account？ To open an account with Voco Markets, you have to follow below steps: Visit the Voco Markets website, locate and click on the 'Open Account'. Fill in the necessary personal details required. Complete any verification process for security purposes. Once your account has been approved, you can set up your investment preferences and start trading. Leverage Voco Markets offers varying leverage options across its account types to accommodate traders with different risk appetites and trading strategies. The Standard Plan Account provides leverage up to 1:100, while the Elite Plan Account offers leverage up to 1:200, and the Pro Plan Account offers the highest leverage of 1:400. This range of leverage options allows traders to choose the level of leverage that aligns with their risk tolerance and trading objectives, providing flexibility and control over their trading positions. However, leverage should be used carefully since it not only amplifies potential gains, but also losses at the same time. Spreads & Commissions Voco Markets offers competitive spreads and transparent commission structures across its account types. With spreads starting from 1.4 pips on the Elite Plan Account, 1.8 pips on the Standard Plan Account and raw spreads available on the Pro Plan Account, traders can benefit from cost-effective trading conditions. Additionally, Voco Markets does not charge commissions on trades for its Standard and Elite Plans, while the Pro Plan offers commission-based trading. This ensures traders have clear visibility into their trading costs and can choose the account type that best aligns with their trading strategy and budget. Account Type Leverage Spread (From) Swap Free Commission Platform Standard Plan 1:100 1.8 pips No No MetaTrader 5 Elite Plan 1:200 1.4 pips No No MetaTrader 5 Pro Plan 1:400 Raw No Yes MetaTrader 5 Trading Platforms Voco Markets empowers traders with the highly versatile MetaTrader 5 (MT5) platform, accessible across various devices and operating systems. Whether on Windows, iOS, or Android, traders can enjoy seamless access to advanced trading tools, comprehensive charting capabilities, and real-time market data. The MT5 platform's intuitive interface facilitates efficient order execution and portfolio management, empowering traders to stay connected to the markets and execute trades with ease from anywhere, anytime. Trading Tools Voco Markets equips traders with a comprehensive suite of trading tools, including an economic calendar, to enhance their trading experience. The economic calendar provides real-time updates on key economic events, such as interest rate decisions, GDP releases, and employment reports, allowing traders to stay informed about potential market-moving events. By leveraging this tool, traders can make well-informed decisions, anticipate market volatility, and adjust their trading strategies accordingly. User Exposure on WikiFX On WikiFX, a significant report about scam raises serious concerns and serves as a cautionary signal to traders. We strongly recommend that traders carry out a comprehensive review of all relevant details before making a decision. Our platform is designed to serve as a crucial resource in your trading journey. If you should ever encounter any fraudulent brokers or have personally experienced such malpractices, we strongly urge you to report it in our “Exposure” section. Your contributions are invaluable in helping us achieve our mission, and our expert team will make every effort to respond to your concerns promptly. Customer Service Voco Markets offers a range of customer service channels for trader support, including phone and email assistance, a physical address for inquiries, a convenient contact us form on their website, and communication via Telegram. This multi-channel approach ensures timely and accessible support for traders' queries and concerns. Registered address: Bonovo Road - Fomboni, Island of Moheli, Comoros Union. Physical address: Office 312, Radhika Point, Moje Village, Variyav, Chorasi, Surat, India. Phone: 00912614401858. Email: support@vocomarket.com. Conclusion In summary, Voco Markets is an online brokerage firm located in the Comoros Union, offering a wide range of trading instruments, including Forex, Indices, Oil, Gold, Stocks, and CFDs. However, it's crucial to note that Voco Markets currently operates without valid regulations, raising concerns about its accountability and commitment to client safety. Therefore, you should be cautious when deciding to trade with this broker and consider alternative brokers with established regulatory oversight to mitigate potential risks. Frequently Asked Questions (FAQs) Q 1: Is Voco Markets regulated？ A 1: No, its been confirmed that the broker is currently under no valid regulation. Q 2: Is Voco Markets a good broker for beginners？ A 2: No, it isn't a good broker because its not regulated by any authorities. Q 3: Does Voco Markets offer the industry leading MT4 & MT5？ A 3: Yes, it offers MT5 on Windows, iOS and Android. Q 4: Does Voco Markets offer demo accounts？ A 4: No. Q 5: What is the minimum deposit for Voco Markets？ A 5: The minimum initial deposit to open an account is $1000. Q 6: At Voco Markets, are there any regional restrictions for traders？ A 6: Yes, it does not offer services citizens/residents of the United States, Cuba, Iraq, Myanmar, North Korea, Sudan. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.