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VOREX -

Score

1.38 /10
Danger

VOREX

Australia

2-5 years

Suspicious Regulatory License

Australia Appointed Representative(AR) Revoked

High potential risk

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Comparison

Quantity 39

Exposure

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Score

Regulatory Index0.00

Business Index6.00

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
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Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

VOREX

Company Abbreviation

VOREX

Platform registered country and region

Australia

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-11-11
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 38 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Exposure

39 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

Unable to withdraw and the platform account cannot log in

Induce deposit and the platform account cannot log in. It is a fraud!

2022-07-26 05:57
Unable to Withdraw

You do not withdraw unless you pay 10% of the cap

They prevented me from withdrawing if I had not previously paid a "tax" equal to 10% of the capital gain! And now they've also blocked me from accessing the account.

2022-07-23 13:16
Scam

unable to withdraw 100% scam

the scammers added me on Facebook claim to be in the same city and being Chinese and add what’s app. started being a friend and lured me into investment opening Crypto.com and trade on metatrader 5. it’s a massive brain wash. he keeps asking deposit more everyday. now unable to withdraw any without paying so called tax in advance. stay away! reported to scam watch and cyber scam and the police.

2022-07-16 13:40
Scam

Unable to withdraw and liquidate it

I haven’t operated once in two days after I deposited 8000. I wanted to withdraw but the customer service didn’t give it. They said that it takes 5 minutes to withdraw the money if I have 5 lots of transactions. Then, I bought eurusd for 0.5, and it didn’t fall if I bought it. At $20, it fell to 0.848 ten minutes later. Help me directly liquidate the position. In the past 20 years, it has never reached 0.848. Why did it drop all of a sudden, but it never fell to 0.084 that day? This fraud platform doesn't want me to withdraw money

2022-08-16 23:48
Unable to Withdraw

Requires to pay Australian tax first

The customer service on Line said that I need to pay Australian tax first before making withdrawal

2022-07-21 09:39
Unable to Withdraw

Unable to withdraw

It is possible to deposit, but there are many problems with withdrawal. It is said that anti-money laundering requires a transaction volume to withdraw. After having a transaction volume, it is said that the account is frozen, and a deposit is required to withdraw, and the funds cannot be withdrawn.

2022-08-10 21:29
Unable to Withdraw

Cannot withdraw after participating unknow mission

I was introduced to this broker by a netizen. At the beginning, I invested a small amount and could withdraw. But one day, the other party said that the transaction volume was not enough. After participating in a certain task, I would not allow the withdrawal. The account has caused my account to be supervised, and I have to pay a deposit. As a result, I cannot withdraw the money after paying the deposit.[d83d][de24][d83d][de24]

2022-07-12 18:07
Scam

Unable to withdraw

I was induced to borrow money to invest, and the other party used the mobile phone to teach the screenshot operation. The result was to transfer the money to MT5 (supervised by VOREX) for the reason of no market, but I had to pay back the money after a month, but the other party could have no market and could not operate as the reason , I asked if I could withdraw the money managed by MT5. The other party said that they may ask me to pay a security deposit? Because I am not familiar with these operations, I apply for withdrawal through VORE, but I have been stuck with the application materials. What should I do? help me thanks

2022-07-19 02:49
Unable to Withdraw

Scam and unable to withdraw with various excuses

The Chinese lied to the Chinese, first Facebook and then WhatsApp, if you can't deceive you will block and delete your account

2022-07-20 16:09
Unable to Withdraw

The customer service said that the money must be paid for the exchange rate difference before withdrawal? ! ! ! !

After trading through MT5, there is a profit, there is a small amount of withdrawal before, and the withdrawal is smooth, but when you want to withdraw all the money later, they say that you need to pay the exchange rate difference before withdrawal. This is unconventional! ? ? And more than 7 days, the foreign exchange difference will double again.

2022-07-15 11:51
Scam

I am liquidated after tradingh. I trade eurusd on July 27th, and it falls to 0.848 in a seconde

I did not operate once for two days after I depositing 8000, and the customer service staff refused to withdraw when I wanted to do it. They told me that it requires 5 minutes after 5 lots to withdraw. So I bought EURUSD 0.5, which fell once I bought, but it is just 20 dollars, and then it fell to 0.848 ten minutes later and liquidate my position directly. In 20 years, it has never reached 0.848. Why did it drop suddenly, but it never reached 0.084 that day? This frad platform does not want me to withdraw

2022-07-28 20:10
Unable to Withdraw

https://power-vt.com/ can't withdraw money, there are many excuses

The first time I withdraw $500 usd, it will be credited soon. The second time you withdraw 1,200,000 usd, it is said to pay the exchange rate difference, and then it is said to prevent money laundering, and then it is said that it is necessary to pay taxes. In short, there are many excuses. Because I applied for a helper last time, his company is now deceiving me and saying that the whole company is closed and under investigation. At that time, he deceived me and said that he wanted me to cancel the complaint, otherwise I would not pay the money, which would increase their time to solve the problem. I believed what he said at that time, Then I canceled the help, and now his company has never replied to my messages. I used another mobile phone to contact the customer service, and he said that the business is normal. He also said that I made him bear all the losses of his company.

2022-07-15 11:37
Unable to Withdraw

I cannot withdraw at all

A woman living in Singapore advised me to trade in a regular exchange. I registered it and transferred money, but I couldn't withdraw at all

2022-08-02 17:57
Unable to Withdraw

Anniversary event induces deposits but does not give out money

After a friend introduced the platform, it was normal at the beginning, and then there was an anniversary event. After being abducted by a friend, I was deceived into making a deposit. At the end of the event, the deposit did not meet the standard and I could not enjoy the discount. The regulations force you to complete the deposit standard, and now I don't know what to do

2022-09-06 13:31
Unable to Withdraw

My balance in the broker is over 9M USD!

Hi, I'm Nicola Ventafridda and I have two VOREX accounts (initially FXKOVNER): no. 684870 (with a balance of 8,849,549.09 USD) and no. 684873 (with a balance of 395,200.00). When I tried to ask to withdraw sums from the accounts I was told that I would have to pay 10% of taxes without any reason (see the ASIC's answer about my question) and above all on the balance of both accounts. Attached are the screenshots of the proofs of my statements. I believe I have the right to recover my sums and pay taxes to my country.

2022-08-03 17:36
Scam

Even if there is regulation, you can't completely trust it! This is a platform where you cannot withdraw money

I met a person who claimed to be Singapore on IG. I started chatting normally, and then I gradually revealed that I can help with investment and operation. I usually use data calculation to calculate the buying point of gold. At first, I asked you to register on the official MAX platform and then guide me. To register and use MT5 trading on this platform, when I question the platform’s legitimacy, it also gives me the platform’s regulatory information, so that I can increase my credibility, take an operation every day, and gradually ask me to increase the principal because I have been deceived before. I have been alerted, but I am still deceived even if I have regulatory information. During the chat, I also talked about the experience of being deceived before. I used my deceived psychology to rush to get money and deceive again. It is too much. When it was time to withdraw money, the platform said that it would charge 50% of the deposit, and immediately learned that it was a fraudulent platform. If he still refused to admit it to the question, it means that the platform is different in all aspects. After giving the deposit, the deposit can be withdrawn. Supervision is not necessarily good, please be vigilant and choose a large platform.

2022-07-25 19:21
    VOREX · Company summary
    Aspect Information
    Company Name VOREX
    Registered Country Georgia
    Founded Year 2008
    Regulation No specific regulation mentioned
    Minimum Deposit Not specified
    Maximum Leverage Up to 1:100
    Spreads No specific information provided
    Trading Platforms VOREX proprietary trading platform (compatible with Windows, Android, and iOS devices)
    Tradable Assets Foreign exchange, indices, commodity futures, international shares, energies, precious metals
    Customer Support Contact form on website, email (support@vorextrading.com.au), office address in Tbilisi, Georgia

    Overview of VOREX

    VOREX, founded in 2008 and based in Georgia, is a financial service provider that offers its clients access to a wide range of global markets. Traders can engage in trading activities involving global stocks, cryptocurrencies, commodity futures, and foreign exchange. VOREX caters to a diverse clientele, including seasoned traders, novices, fund managers, and institutional clients, providing them with comprehensive trading services and solutions. Whether clients are experienced professionals or new to trading, VOREX aims to meet their unique trading needs and support them in achieving their financial goals.

    Is VOREX legit or a scam？

    This broker is not regulated, and it is important to be cautious and understand the associated risks. Furthermore, WikiFX has received 38 complaints about this broker in the past 3 months, indicating potential concerns and the possibility of a scam. Traders should conduct thorough research and exercise caution before engaging with this broker to ensure the safety of their investments.

    Pros and Cons

    VOREX offers several advantages, including access to a diverse range of financial markets, dedicated and multilingual customer support, and a proprietary trading platform for a unique trading experience. However, it is important to note the potential risks associated with the lack of valid regulation and the high number of complaints received by WikiFX, indicating potential issues. Additionally, transparency on certain aspects such as spreads and regulation is limited. Traders should carefully consider these pros and cons before engaging with VOREX to make informed decisions.

    Pros Cons
    Access to diverse range of financial markets No valid regulation, posing potential risks
    Dedicated and multilingual customer support High number of complaints indicating potential issues
    Proprietary trading platform for a unique trading experience Lack of transparency on certain aspects such as spreads and regulation

    Market Instruments

    VOREX offers investors the opportunity to access a wide range of mainstream and popular financial markets. The brokerage platform provides a variety of trading assets, including foreign exchange, indices, commodity futures, international shares, energies, and precious metals. With a single account, investors can conveniently trade across multiple financial markets, allowing for diversification and the exploration of various investment opportunities. This streamlined approach simplifies the trading process and enables investors to manage their portfolios efficiently. By offering access to a diverse range of trading assets within one account, VOREX aims to provide a comprehensive trading experience for its clients.

    How to open an account？

    Opening an account with VOREX is a simple and easy process, and there are several straightforward steps for you to follow:

    1. Click “Create an account” on the homepage of VOREX

    2. Fill out some required details, including name, a valid email address, password.

    3. Go to your mailbox and verify your ID by upload some identification documents.

    4. Fund your account and start to trade with this brokerage.

    open-account

    Trading Platform

    VOREX distinguishes itself by offering a proprietary trading platform for traders to utilize, instead of the widely recognized MT4 or MT5 platforms. On their official website, VOREX provides a download link for their platform, which is compatible with Windows, Android, and iOS devices. This bespoke trading platform is specifically designed to cater to the needs of VOREX's clients, providing them with a unique trading experience. Traders can access the platform on various devices, enabling them to trade conveniently and efficiently. By offering a proprietary trading platform, VOREX aims to provide its clients with a specialized tool that meets their specific trading requirements.

    Copy Trading

    VOREX emphasizes its self-developed VMT trading system, which offers clients the convenience of one-click copy trading. Copy trading is a strategy that enables inexperienced traders to replicate the trades of successful traders, potentially increasing their profit potential. With VMT, clients can easily select and follow the trading activities of experienced traders, allowing them to benefit from their expertise and potentially achieve better trading outcomes. The one-click functionality simplifies the process, making it accessible even for those new to trading. By providing copy trading capabilities through its VMT trading system, VOREX aims to empower clients to make informed trading decisions and potentially enhance their trading performance.

    Customer Support

    VOREX caters to a diverse range of traders by offering its official website in four languages: English, Traditional Chinese, Japanese, and Simplified Chinese. Traders who have inquiries or encounter trading issues can reach out to VOREX through various channels. They can fill out a contact form on the website, providing the required details and waiting for a response. Alternatively, traders can contact VOREX via email at support@vorextrading.com.au. The company's office address is located at Krtsanisi district, Krtsanisi II lane, N 15, building 3, apartment 42, Tbilisi, Georgia. Additionally, traders can stay updated and engage with VOREX through popular social media platforms such as Facebook, Twitter, and Instagram. These communication channels provide traders with convenient ways to connect with VOREX and seek assistance when needed.

    Conclusion

    In conclusion, VOREX provides traders with access to a wide range of financial markets, multilingual customer support, and a proprietary trading platform for a unique trading experience. However, the lack of valid regulation and the high number of complaints received raise concerns about potential risks and issues. Additionally, transparency on certain aspects such as spreads and regulation is limited. Traders should carefully evaluate these advantages and disadvantages before considering engaging with VOREX to ensure the safety and suitability of their trading activities.

    FAQs

    Q: What markets can I trade with VOREX？

    A: VOREX offers access to a variety of financial markets, including global stocks, cryptocurrency, commodity futures, and foreign exchange.

    Q: Is VOREX a regulated broker？

    A: VOREX currently does not have valid regulation, so traders should be aware of the associated risks.

    Q: How can I contact customer support at VOREX？

    A: You can reach out to VOREX's customer support through a contact form on their website or via email at support@vorextrading.com.au.

    Q: Does VOREX have a demo account for practice trading？

    A: VOREX does not provide information regarding the availability of a demo account on their website.

    Q: What languages is the VOREX website available in？

    A: The VOREX website is available in English, Traditional Chinese, Japanese, and Simplified Chinese.

    Q: Where is VOREX located？

    A: VOREX is based in Tbilisi, Georgia, with the office address at Krtsanisi district, Krtsanisi II lane, N 15, building 3, apartment 42.

    Q: Can I follow VOREX on social media？

    A: Yes, VOREX can be followed on popular social media platforms such as Facebook, Twitter, and Instagram.

    User Reviews

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    User comment

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    Comments

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    Wankou
    more than one year
    I encountered issues with withdrawals, and getting a response from customer support was not as swift as I expected. Considering the potential risks associated with the lack of regulation and the number of complaints, I would advise fellow traders to exercise caution before considering VOREX as their trading platform.
    I encountered issues with withdrawals, and getting a response from customer support was not as swift as I expected. Considering the potential risks associated with the lack of regulation and the number of complaints, I would advise fellow traders to exercise caution before considering VOREX as their trading platform.
    Translate to English
    2023-12-11 17:55
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    Kage Oda Tsiew
    more than one year
    I've been trading with VOREX for over a year now, and I must say, the platform offers a unique and diverse trading experience. The proprietary trading platform is easy to use and works seamlessly on my Windows laptop and Android phone. The range of tradable assets, from forex to commodities and even international shares, allows me to diversify my portfolio conveniently. The customer support is responsive and multilingual, which is a big plus for someone like me who occasionally needs assistance. The copy trading feature with VMT is a game-changer – making it simple for me to follow experienced traders and potentially boost my profits. Overall, VOREX has been a reliable partner in my trading journey
    I've been trading with VOREX for over a year now, and I must say, the platform offers a unique and diverse trading experience. The proprietary trading platform is easy to use and works seamlessly on my Windows laptop and Android phone. The range of tradable assets, from forex to commodities and even international shares, allows me to diversify my portfolio conveniently. The customer support is responsive and multilingual, which is a big plus for someone like me who occasionally needs assistance. The copy trading feature with VMT is a game-changer – making it simple for me to follow experienced traders and potentially boost my profits. Overall, VOREX has been a reliable partner in my trading journey
    Translate to English
    2023-12-08 16:54
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