Beware! VanexFX is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


In this review, we’ll shed light on VanexFX, a broker with an offshore license offering Forex and CFDs trading. They provide MetaTrader5 accounts, claiming to deliver tight spreads and outstanding services. However, their website has annoying translation problems, and most of the content was challenging to comprehend. It was written in Thai, so we had to use translation engines, meaning that the information we got might as well be inaccurate. Find out more details about this broker in the full VanexFX review.


VanexFX is a broker regulated in Vanuatu. However, the VFSC license doesn’t make things much better because the Pacific Island is still considered a dodgy jurisdiction with regulatory problems. They indeed took some measures to improve, but the customer protection is still insignificant. The only customer protection measure in place is the 50 000 USD capital adequacy requirements, which doesn’t guarantee that traders and investors won’t face problems when dealing with Vanuatu brokers. The FX companies there are standard IBCs that might disappear at any given moment without notice leaving traders and investors with losses almost impossible to reclaim. Your funds are not safe if you deposit with VanexFX because they can’t offer sizeable money protections, notwithstanding the license they have.

Furthermore, VanexFX exceeds its license powers by accepting traders from Europe, like ourselves. They claim not to operate in the EU, but we could sign-up and download their platform. Also, they urge us to provide ID verification, which is a red flag we need to note.

Instead, see the properly regulated EU brokers and the British brokers we recommend by following the links provided. The European financial markets are strictly regulated and safer for traders and investors. Most importantly, there are money protection schemes laid down to protect traders and investors’ money in case of bankruptcy or fraud. For example, CySEC brokers’ clients can claim up to 20 000 EUR, while the British guarantees are up to 85 000 GBP per person. The Vanuatu license doesn’t guarantee any protection when it comes to insolvency or fraud carried out by the VFSC regulated brokers.


VanexFX offers MetaTrader5 accounts to their clients, which is by far, one of the best retail Forex platforms. The EUR/USD spread is floating around 1 pip presenting generally favourable trading conditions. However, we could only access demo accounts due to AML and KYC restrictions, so we can’t verify that the real account Buy/Sell difference would be the same. The spreads form part of the trading costs, so lower rates improve trading conditions and enhance profit potential. By following the links provided, you can find many tight spread reliable brokers, so don’t hesitate.

Speaking of platforms, see the MetaTrader4 brokers and MetaTrader5 brokers we recommend. MT is an advanced trading software providing sophisticated trading tools such as Expert Advisors, Algo trading and plenty of complex indicators. They also created a marketplace where you can find more than 10 000 apps and third-party developed trading solutions.

The maximum leverage is 1:500, a ratio that’s dangerous for retail traders. Leverage amplifies potential profits, but it also immensely boosts risks. 1:500 is radically risky and might cause lightning-quick losses rather than profits. Many traders tend to oversee the dangers involved and, as a result, register heavy losses very quickly indeed. So, some financial authorities imposed leverage restrictions on the regulated markets in their pursuit to reduce the negative impact of leverage mishandle.

The European, British and Australian brokers (to come in effect later in 2021) are limited to 1:30, while the Canadian brokers and the US brokers can’t provide higher levels than 1:50. The Swiss brokers aren’t restricted, but there is a  20 million francs capital requirement in Switzerland, which push scammers away.


VanexFX doesn’t specify minimum deposit requirements, so we assume traders might fund accounts with as much as they want. VanexFX doesn’t spell out the funding methods accepted, but judging by the T&Cs, the available options are Credit/Debit cards, Wire Transfers, Bitcoin and some e-wallets. We recommend bank cards transfers only because it gives the right to file for a chargeback for an extended period of time.

However, if you have a preferred payment system, see our lists with legit Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers and Bitcoin brokers. The selected companies are strictly regulated, so it’s unlikely for traders to experience fraud.

The minimum withdrawal possible is $10, and we consider this fair. The request processing time is within 1 day free of charge, which is also an excellent stipulation. If VanexFX had a decent license, we would recommend this broker, but under the current circumstances, that’s impossible.

The inactivity policy is also appropriate- an account becomes dormant after 90 days of inactivity and will be subject to a $5 monthly fee. That’s generally in line with the industry standards.

VanexFX offers bonuses plus iPhone 12 Pro Max promotion, but we couldn’t understand what they are talking about because we once again encountered translation problems. At this point, the positive vibe caused by the favourable trading conditions vanished.

Overall, VanexFX is an offshore broker that doesn’t seem reliable. Stay safe and choose a better trading partner.


New types of investment scams come about literally every day. However, most of the new schemes represent a modification of common fraud. These are not typical for the local markets but very similar from country to country.

Scammers usually find their victims through ads on social media or other websites, which is the latest trend. Classical tactics, such as cold calling, became less widespread as the Internet is prevalent nowadays. The offers look legit and present exciting opportunities to invest money in the Forex market. Traders are reassured that the people behind the broker have an excellent track record, promising high returns or seamless trading. They claim that there are no problems when trading with them, concealing that the FX market is utterly risky.

What usually happens is that scammers just pocket traders and investors money letting them believe they trade in a real environment. Sooner or later, clients would ask for a withdrawal, but scammers would delay or straightforward refuse to send any money back. Whenever traders persist, the guys standing behind the fraudulent broker would usually cut the communication or send a tiny amount of money. It’s also a common manoeuvre for scammers to ask for more money to sort the withdrawals out. Either way, traders are likely to lose some or all of the capital invested. At some point, when the fraud becomes evident, the scammers would simply rebrand and start afresh, creating a new scheme under a different name.


Unfortunately, no one is immune to scam. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you instructions and help you, if possible, recover the money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!

It’s crucial not to rush blindly trying to recover your funds because many scam recovery agencies and individuals are stalking, aiming to double scam the victims. They ask for an advanced payment but do nothing to help you recover your losses and simply pocket the money you’ve sent!

Share online your experience; it’s important to protect others, as well. Be responsible!

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