Score
Saint Vincent and the Grenadines
|
2-5 years
| https://woxa.com/
Website
Rating Index
Influence
C
Influence index NO.1
Thailand 2.75
LicensesNo valid regulatory information, please be aware of the risk!
Saint Vincent and the Grenadines
woxa.jp woxa.com| WOXA LTD Review Summary | |
| Founded | 2005 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | No regulation |
| Market Instruments | Stocks, cryptos, currencies, commodities |
| Demo Account | / |
| Islamic Account | ✅ |
| Leverage | 1:400 |
| EUR/USD Spread | 0.6 pips (minimum spread) |
| 0.8 pips (average spread) | |
| Trading Platform | WOXA APP, web trader |
| Copy/Social Trading | ✅ |
| Min Deposit | / |
| Customer Support | Live chat |
| Email: support@woxa.com | |
| Regional Restrictions | The European Union, United Kingdom, Cuba, Myanmar, Turkey, Japan, Singapore, New Zealand, Poland, Canada, Iran, North Korea, and the United States |
WOXA LTD was registered in 2005 in Saint Vincent and the Grenadines, specializing in the stock, crypto, currency, and commodity markets. It uses its own trading platform, which is available on mobile and web devices. However, it is not regulated, and it does not provide services for residents in certain areas.
| Pros | Cons |
| Long operation time | No regulation |
| Islamic accounts provided | No MT4 or MT5 |
| Tight EUR/USD spread | Unclear payment methods |
| Copy trading services | Regional restrictions |
| Live chat support |
No, it is not regulated by the financial services regulatory authority in Sait Vincent and the Grenadines, which means that the company lacks regulation from its registration site. Moreover, its domain status shows that activities such as client transferring and updating are prohibited. Please note the potential risks!
| Tradable Instruments | Supported |
| Currencies | ✔ |
| Commodities | ✔ |
| Stocks | ✔ |
| Cryptos | ✔ |
| Indices | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
The leverage is variable depending on the types of products. Customers need to consider carefully, because high leverage is likely to bring high potential risks. Take different currency pairs for example.
| Currency Pairs | Min Spread | Avg Spread | leverage |
| EUR/USD | 0.6 pips | 0.8 pips | 1:400 |
| AUD/CAD | 2 pips | 2.2 pips | 1:50 |
| EUR/JPY | 1.4 pips | 1.6 pips | 1:200 |
WOXA LTD uses its own trading platform, and it does not support MT4 or MT5.
| Trading Platform | Supported | Available Devices | Suitable for |
| WOXA | ✔ | PC, web, mobile | / |
| MT4 | ❌ | / | Beginners |
| MT5 | ❌ | / | Experienced traders |
WOXA provides social trading services. On its platform, customers can share their trading experiences and learn from some of the top traders.
WOXA LTD offers leverage of up to 1:400 on currency pairs. While high leverage can be appealing, it also increases risk, especially in volatile markets. As a trader, I would always use high leverage cautiously, as it can amplify both potential profits and losses. It’s crucial to understand the risks before engaging with such high leverage.
The spread for EUR/USD on WOXA LTD starts at 0.6 pips, which is quite tight compared to many other brokers. This can be an advantage for traders who are focused on keeping their transaction costs low. However, since other fee details are unclear, I would recommend double-checking for any hidden charges that might apply to specific trades or account activities.
WOXA LTD primarily charges fees through its spreads, which start at 0.6 pips on EUR/USD. This is relatively competitive, especially for major currency pairs. However, the broker does not provide clear information on any additional fees, such as commissions or spreads for other instruments. From my perspective, it's important to always ask for detailed fee structures, including deposit and withdrawal fees, to avoid any hidden costs.
WOXA LTD does not adhere to any regulatory standards, making it a riskier choice for traders. Without regulatory oversight, the broker operates without the required checks and balances that ensure clients' funds are protected and their trades are executed fairly. As a trader, I would highly recommend prioritizing brokers that are regulated by trusted authorities to avoid potential issues related to fund safety or legal recourse.
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