It has been verified that this broker currently has no valid regulatory, please be aware of the risk!
VonWay is surprisingly open about its offshore location. The broker seems to be proud of its Saint Vincent and the Grenadines registration. There is nothing to be cocky about here. This location is offshore for a reason. It has never had an FX regulator, and even if there has been recent development to change that, as of now all forex brokers located there are unlicenced, except for those that are licensed by other regulators. The broker is not regulated there, even if located in the Caribbean nation.
Unfortunatelly,VonWay offers no other regulatory info. Thus, we are left with no alternative but to deem this broker UNLICENSED and a riks to all traders.
Be certain that investments in unregulated brokers are almost always lost, never to be seen by the user. Always check for a license before continuing to the next step. Ideally, the FCA or CySEC regulated brokers are the most trustworthy. Under these agencies, brokers are scrutinized every month and are required to follow some of the most rigorous rules in the industry. These include, but are not limited to, segregated bank accounts for all users. Both the FCA and CySEC offer to all their brokers, who in turn cover their clientele, compensation funds: CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
VONWA TRADING SOFTWARE
Everything thus far has been a step in the right direction for this broker, except for the most crucial thing- its lack of a license. The inclusion of a fully functioning MT4 is another positive aspect of this broker, that keeps pushing for excellence but is pulled by its unregulated status.
Needless to say, the MT4 is by far the best trading software in the FX industry, and its inclusion is always a welcome sight. Its abundance in features is unmatched, its user-friendly approach is unparalleled, its capacity for trader’s growth cannot be met. It’s completely obvious why this platform has yet to meet its maker.