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Score

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

VOREX

Australia|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|Australia Appointed Representative(AR) Revoked|High potential risk|

https://vtmbersarea.com/

Website

Rating Index

Contact

support@vorextrading.com.au
https://vtmbersarea.com/
Krtsanisi district, Krtsanisi II lane, N 15, building 3, apartment 42, Tbilisi, Georgia.
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

Licensed Institution:VOREX TRADING PTY LTD

License No.:001296955

Warning: Low score, please stay away!
2025-01-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
3

Basic Information

Registered region
Australia
Operating period
2-5 years
Company Name
VOREX
Customer Service Email Address
support@vorextrading.com.au
Company website
Company address
Krtsanisi district, Krtsanisi II lane, N 15, building 3, apartment 42, Tbilisi, Georgia.

cindy12370

Taiwan

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

Exposure

2022-09-06

123the

Hong Kong

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

Exposure

2022-08-16

E.H.

Taiwan

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volume, it is said that the account is frozen, and a deposit is required to withdraw, and the funds cannot be withdrawn.

Exposure

2022-08-10

Nicola Ventafridda

Italy

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.

Exposure

2022-08-03

mamato

Japan

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

Exposure

2022-08-02

123the

Hong Kong

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

Exposure

2022-07-28

N52373

Australia

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

Exposure

2022-07-26

Ting11620

Taiwan

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.

Exposure

2022-07-25

Nicola Ventafridda

Italy

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.

Exposure

2022-07-23

豆兒

United States

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

Exposure

2022-07-21

Liu216

Australia

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

Exposure

2022-07-20

廖小凱

Taiwan

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

Exposure

2022-07-19

Liu216

Australia

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.

Exposure

2022-07-16

michelle57564

Taiwan

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.

Exposure

2022-07-15

Yona Cheung

Hong Kong

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.

Exposure

2022-07-15

Eva47789

Taiwan

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]

Exposure

2022-07-12

Ting11620

Taiwan

I met a person on IG who brought me into this platform and said he wanted to take me to operate. I questioned that I couldn’t find relevant information at the time. He found a regulatory website to show me that there was supervision. I said that it was just opened this year. He said this It was newly opened by a company that opened in 2012. I originally wanted to say that it is stable if there is supervision. I really went to check, but I still encountered a liar.

Exposure

2022-07-11

FX2771526504

Hong Kong

Knew a guy via facebook who claimed to be a home-fellow, and he kept chatting with me about financial management. He said he wanted to teach me to earn pocket money in foreign exchange. Although I had doubts, he kept brainwashing him. In addition to the fellow, I thought of trying it out. I made some money. Later, he asked me to join the recharge and send bonus activity. I said I didn’t have any money to do it. He kept urging me to deposit money. I returned some principal and applied for a withdrawal. The customer service said that I had a third-party deposit on behalf of me and was suspected of money laundering. The account has been frozen and I have to pay a deposit of 7500USDT to prove my innocence before it can be unfrozen. Only then did I realize that I had been deceived, such as money laundering. I shouldn't have received it in the first place, and I didn't say these rules when I recharged it. Now I just want to help me get my principal back through this platform, because that's my hard-earned money.

Exposure

2022-07-09

王福生

Taiwan

Excuse me, I have applied for a withdrawal. After the website maintenance, I have not logged in to my account. Later, a friend taught me to log in again, and then log in to operate the market. Soon after the operation, the line customer service contacted me and said that I was suspected of money laundering. 30% deposit to prove that it is not money laundering, 30% is too much for me and I can't help it. If I don't pay within the time limit, I will freeze the account and delete it. Can VOREX dealers delete the customer's account at will? The money in it is the hard-earned money of the customer. What can I do to completely withdraw the money in my foreign exchange account?

Exposure

2022-07-08

陽陽7714

Hong Kong

Can't withdraw money. Authorization failed. Fake website. Fake customer service. Fake account number

Exposure

2022-07-07

41
Website
Company Summary
Review

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Official website

Website

  • vtmbersarea.com

    Website Domain Name

    vtmbersarea.com

    Server IP

    104.21.90.221

  • vorextrading.com

  • vorextrading.com.au

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.

Keywords

  • 2-5 years
  • Suspicious Regulatory License
  • Suspicious Scope of Business
  • Australia Appointed Representative(AR) Revoked
  • High potential risk

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