Voredex has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Voredex recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Competitive fees|Stable platform
Cons: Wish they had more educational resources
Several red flags with Voredex: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
The mobile app from Voredex is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Good analytical tools|Educational resources
Cons: Spreads widen during volatile periods
Opened my account with Voredex from a review site like this one and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Reliable uptime|Detailed reporting|Quick verification|Stable platform
Cons: Mobile app could be improved
Tried to withdraw my funds from Voredex and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
I gave Voredex a fair chance. After since the beginning of the year of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Easy withdrawals|Clear documentation|Wide product range
Cons: Currency conversion fee exists|Search feature is basic
Do not believe the bonus offer from Voredex. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after comparing multiple platforms and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Tax reports included|Low minimum deposit|Fast execution|Easy withdrawals
Cons: Desktop app not available on Linux
My card was charged twice by Voredex on the same day. I had to dispute it with my bank. Voredex then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Excellent charting|Regular updates|Dedicated account manager
Cons: Desktop app not available on Linux
Do not use Voredex for anything serious. I used them for about ten months for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Reliable uptime|Tax reports included|Professional team
Cons: Spreads widen during volatile periods
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Voredex is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Blocked my account|No legitimate license|Fake returns