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ValourFX Review - Is it scam or safe?

ValourFX Review - is vg-fx.com scam or good forex broker?

RATING: 2 / 0 REVIEWS
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Trading Accounts

 

 

Account type  Minimum deposit Minimum trade size maximum leverage Spread
Valour Gold $100 0.10  1:500 Fixed from 2.5 pips

 

Valour FX (vg-fx.com) is a forex broker, which provides a single account type. The company also allows trading in a few CFDs on major equity indices, stocks and commodities.

 

The Company. Security of Funds

 

Company Country Regulation
Valour Global Ltd Vanuatu VFSC

 

Valour FX is registered in Vanuatu and is registered with the local regulator – VFSC. We generally advise against dealing with off-shore companies, as the legal environment tends to be less stringent there.

You may be aware of this, especially if you have read any of our other reviews, but we consider financial regulation to be a key factor when comparing forex brokers. Well known agencies, like Australia’s ASIC impose certain rules on companies who fall under their jurisdiction. One of them is the mandatory enforcement of segregated accounts. They imply client funds will be kept separate from the company’s, hence limiting the fraud potential.

Vanuatu has gained lots of popularity with shady forex brokers. One of the reasons for this is the minimal capital requirement of $2,000, for registering a new broker. These type of conditions tend to attract scammers. The  aforementioned ASIC, for instance requires AUD 1 million.

 

Trading Conditions

 

Minimum Initial Deposit

Valour FX (vg-fx.com) requires a minimum initial deposit of $100. Generally speaking, this is about the industry average, although some brokers go even lower. For instance IG does not have a minimum requirement at all. That being said, this should not be a key factor, when choosing a forex broker.

 

Average spreads & Commissions

Spreads at Valour FX (vg-fx.com) are fixed, starting from 2.5 pips on EUR/USD. This is above the current industry standards, with other fixed spread brokers offering below 2 pips for this pair. EasyMarkets even goes as low as 1 pip for EUR/USD.

 

Leverage

Valour FX (vg-fx.com) offers maximum leverage of 1:500. This is essentially more leverage than you would ever need, if you are trading in a relatively sensible way.
 
Please keep in mind, trading with high leverage can be risky. Be sure to understand the principles involved completely, before you start trading. Otherwise your attempts may be similar to gambling.

 

Trading Platforms

 

Valour FX offers MetaTrader 4 (MT4) to its clients. This is a relatively old but solid platform which many forex brokers and traders prefer. It is simple to use, offers fast execution, and a great charting package. Furthermore there are many custom indicators and automated systems (or Exert Advisors, as they are called) available for it.

One the other hand, the platform does not support multiple monitors, by default. This is a feature which some veteran traders really dislike.

 

Methods of Payment

 

Valour FX (vg-fx.com) offers a several payment methods: Bank Transfer, Credit/Debit Card, China UnionPay, Skrill.

 

Conclusion

 

Valour FX (vg-fx.com) is a forex broker registered in Vanuatu. The local regulatory agency VFSC may provide some form of oversight, but we are still rather doubtful about off-shore institutions. The broker offers fixed spreads, which are higher than what is offered by others. Here are this broker’s pros and cons:

 

Pros Cons
MetaTrader4 Platform Off-shore regulation
   High fixed spreads

 

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Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Traders` reviews for ValourFX

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