MarketsVox Review: What Traders Need to Know

Despite the active promotion of its services and supposed advantages, the broker exhibits a number of notable shortcomings. MarketsVox, in particular, receives highly polarised reviews – ranging from strongly positive to overtly critical. In addition, clients are encouraged to take advantage of bonus offers and participate in a referral-based partnership programme. Trading operations are conducted through several terminals. We decide to examine whether the company shows signs of being a scam and whether the broker truly merits the trust of its users.

MarketsVox Snapshot

Legitimacy Check

MarketsVox claims to have a genuine brokerage licence from the Seychelles Financial Services Authority (FSA). On first impression, this can seem reassuring. However, we wonder whether such offshore licensing amounts to anything in an industry where client funds and trading liquidity are so paramount an issue.

Indeed, on closer inspection, it can be seen that such offshore regulatory jurisdictions are typically marked by low levels of regulation and low barriers to entry. The Seychelles FSA is one such regulator which, while technically legal, issues licences to numerous firms with little due diligence. A significant percentage of these operators subsequently offer speculative trading terms which are highly detrimental to retail investors.

The issue becomes much more ambiguous, however, when one thinks about the legal and geographical data provided by MarketsVox. The broker includes a company address, but a quick verification with Google Maps reveals that the address does not lead to any identifiable office or trading hub. That is, the company has no actual physical presence in the location it claims – one-moment red flag for any serious investor.

Ultimately, investors who trade with offshore-regulated firms like MarketsVox tend to suffer significant financial losses. While this is partly a result of uncontrolled leverage and risky trading terms, it is also the result of the firms’ own actions, many of which habitually deny withdrawal requests, fail to honour complaints, and operate with complete impunity due to poor regulatory jurisdictions.

Marketsvox.com Content Quality

The MarketsVox website is multilingual and gives generic information on account types, trading tools, and the company’s regulation. The speed of the site to load is generally acceptable, and the live chat widget is one of the few definitely positive features.

Functionally, the website is structured into several functional blocks. There is a documentation block containing PDFs of trading conditions and how to use the platform. There are also references to the firm’s Anti-Money Laundering (AML) policy, such as a step-by-step explanation of document verification processes required for account activation.

However, the website structure and interface present several concerns. Registration occurs on a form in the upper right-hand corner of the homepage, and here one must provide an email address, nation, and a password. Okay, this sounds standard (except the nation), but the dashboard experience is not flawless. The personal account page is cluttered with promotional banners, outlinks, and bonus pop-ups – the vast majority of which sell things that never actually happen in real life.

Most trading on the platform is done through MetaTrader 5 (MT5), a widely used terminal in the online trading industry. The broker provides free download links for different operating systems, making access easy. However, it’s important to understand that while MT5 is a reputable and professional-grade platform, its presence alone doesn’t guarantee a broker’s reliability. Many unregulated or dishonest firms also use MT5, taking advantage of its flexibility to create the appearance of legitimacy. Therefore, the real concern lies not in the platform itself, but in how the broker operates behind it.

Key Trading Features

MarketsVox offers different trading accounts: Cent, Standard, and ECN. There is a mention of an Islamic account, though no clear definition of the stipulations or makeup of this product is given.

The minimum deposit for opening a trading account is $100. In order to access the ECN account, a minimum deposit of $500 is required. On the face of it, this is a small entry fee. But we prefer to make the enquiries as to if it is a subtle ruse to lure the new traders. Scams typically target the investors with attractive minimum deposits, then loot their accounts with manipulated trades shortly afterwards.

Another reason for concern is the leverage agreement of the broker – up to 1:2000. That is very high. European regulators for their part limit leverage to 1:30 or 1:50 for retail clients for the purpose of protecting them from ruinous loss. With 1:2000, even a trivial movement in the market can annihilate the complete account balance in seconds.

Remarkably, the company does not mention the commission structure or spread details – two essential elements of cost transparency that all legitimate brokers are required to outline. Over 90 financial products are stated to be available for trade on lots of a minimum size 0.01 and a stop-out ratio of 40%.

A demo account is offered, primarily for new traders. But even the presence of a demo feature does not counteract the multiple risks involved with real-money trading with this broker.

MarketsVox places significant emphasis on its referral and bonus schemes. It offers a guarantee of up to $25 per transaction initiated by a referred client. Official affiliates receive a package of marketing instruments and tailored offers. Such perks supposedly include faster account approval, no withdrawal limits, and even exclusive access to a chat room for referral management.

In addition, the broker has a PAMM account scheme that enables clients to invest in so-called professional managers. However, little to no information is provided as to how the funds are handled or even if the ‘managers’ are screened at all.

The bonus plans are aggressively marketed. They comprise a 100% initial deposit match for new investors, cashback incentives, and other monetary benefits designed to attract beginners as well as seasoned investors. While the plans appear appealing on paper, they come with strings or are never cashed in at all. Investors most commonly learn too late that the bonuses are nothing more than part of an appealing marketing plan with no follow-through whatsoever.

MarketsVox Track Record Insight

On openness regarding its track record of business operation, MarketsVox is tantalizingly evasive. The “About Us” page of the website provides only a superficial summary of the firm’s claimed strengths, in silence regarding its founders, business setup, or institutional backing.

We conducted a search on WebArchive to see just how old the company’s website is. Dates indicate that the domain was put online sometime in the first half of 2024, which makes the company less than a year old. It would be premature to cite any established track record or long-term dependability in light of this.

Customer Service Overview

Customer support is said to be available through email, and the provided address is checked quickly to ensure that it is active. The site also provides an online chat feature for a quick exchange.

But one concern that stands out is the company’s total lack of presence on social media and messaging apps. Question: why should a contemporary brokerage, one with claims of global scope and market standing, steer clear of all social media? By being invisible, the company creates an aura of secrecy, which reinforces speculation regarding the firm’s real agenda.

Our Verdict

After close scrutiny, we do not recommend that any form of partnership is entered into with MarketsVox. The broker is overseen by an offshore regulator and is little more than a name in serious trading communities. It withholds crucial information regarding trading terms and appears to engage in marketing tactics that prioritize appearance over fact.

The presence of pyramid referral schemes, over-the-top bonus guarantees, and unverifiable business locations all indicate a trader-risk-high environment. The website may have the appearance of an honest broker, but the organization and practices beneath are definitely questionable.

About the author

Alex Banks

Financial Analyst

Alex Banks is a seasoned financial analyst with over 15 years of experience in the trading industry. He has worked with several top-tier investment firms, specializing in long-term investment strategies and market analysis. Alex is now known for his in-depth research and ability to identify stable and reliable brokers that offer consistent performance over extended periods.