Vonway Forex Review: Legit Broker or Just Another Scam?

Among offshore Forex/CFD brokers, there are companies that have been operating in the market for several years. For example, our Vonway Forex review covers a platform that has been online for more than 5 years. At the same time, it offers huge leverage of 1:2000 and operates under a license from the Anjouan Offshore Financial Authority (Comoros Union). You may ask, is everything really so flawless that clients continue to trust it for such a long time? We have tried to answer this question as objectively as possible. See what we found below.

Does Vonway Forex Show Any Risk Factors?

We hold the opinion that all offshore Forex brokers are not intending to work honestly and transparently, but rather are hunting for clients’ money. It is not uncommon for even registrations and offshore licenses to be fabricated. That is why all information provided by such companies must be carefully verified. In fact, this has become a habit, and 5+ years on the market is certainly no reason to give it up. Therefore, as usual, we will start our introduction to Vonway Forex with the official data.

The company Vonway Global Ltd, which manages the broker, claims to be registered on one of the autonomous Comorian islands — Anjouan — and to operate under a license issued by the local regulator, the Anjouan Offshore Financial Authority. This information is easily verifiable in the registries.

As we can see, the Anjouan (AOFA) register does indeed contain details about the company, its registration date and license issue date (November 13, 2024), the validity of the document (until November 13, 2029), as well as other details. The license was issued for brokerage activities and allows all operations, including clearing. Thus, formally, at the present moment, the platform has the documents required to organize trading.

There is only one problem. The main financial regulator — the Central Bank of the Union of Comoros (Banque Centrale des Comores, BCC) — considers that the regulators of the autonomous regions, including the Anjouan Offshore Financial Authority, are acting illegally and that the licenses they issue have no legal force. The Bank has stated this more than once, for example, in a communiqué dated June 15, 2022. Therefore, the Anjouan license is not recognized by the state regulator nor by regulators and governments of other countries. Experts at almost all levels also view this document with skepticism.

Thus, we must admit that the company does have official confirmation of registration, as well as a license issued by the local regulator at its place of registration. However, the legal validity of this document is highly questionable, as is trust in Vonway Forex.

The doubts are not only about the unrecognized license. On the homepage you can see how proudly the firm advertises its leverage of 1:2000. For beginners, this might seem like a dream come true: with just $100 in the account, you can control a 2-lot position on Forex, with corresponding profits. For experienced traders, however, it is a “deposit killer” due to the enormous risks. It should be said that with such leverage, the risk level becomes unacceptable even for professionals, since it is practically impossible to manage them effectively — stop orders can be triggered even by simple market noise.

Unfortunately, most of the company’s clients do not even think about the losses that such conditions provoke. Experts on thematic websites, however, are ready to highlight the broker’s problems, and their reviews are far from flattering. The only exception might be the rating on WikiFX, where the platform scored 4.7 out of 10. But this is most likely explained by the use of MetaTrader as the trading software.

At the same time, on Trustpilot, there are 205 vonwayforex.com reviews, 85% of which praise the company. We would like to say this is very little for 5 years on the market, but we noticed that the very first review appeared only in January 2025. How did the firm operate during the previous 4+ years? Why did no one write about it earlier? And why do its users suddenly feel such enthusiasm, leaving 2 posts every 3 days?

Some of these questions will remain unanswered. But for the last one, we can give our own answer: it is obvious that the project owners decided to launch a campaign to improve the platform’s reputation, and as part of it they openly bought positive opinions from reviewers. From our point of view, such actions clearly reveal an unwillingness to operate transparently and a desire to reap excessive profits at the expense of clients’ deposits.

Let’s Break Down the Lifespan

Five years in the market is a solid indicator for any broker. However, we have questions about Vonway Forex’s history. The company claims it has been operating for more than 5 years and has achieved considerable success during that time. This information is also confirmed by the Whois service.

There we can see that the domain vonwayforex.com was registered in June 2020. According to the first snapshots from the Web Archive service, by January 2021, the broker already had a fully functional website. This means the platform actually started accepting clients in the second half of 2020.

Note! Unlike most offshore brokers, the firm does not hide the details of the legal entity under which the domain is registered. The owner is Vonway Global Limited, which, according to the database, is located in Hong Kong.

Naturally, our first question arises here. The company registered in Anjouan (Comoros Union) only in November 2024, receiving its license at the same time. On what basis, then, did the broker provide services for 4 years before that moment?

Data from the Web Archive shows that in 2020–2021 the firm was registered in Saint Vincent and the Grenadines, where the local regulator SVGFSA neither licenses nor supervises Forex/CFD brokers. Later, the company moved to Hong Kong, but still did not obtain a license. Thus, until November 2024, the platform operated without any licenses. Although ‌official registration confirms the existence of the company, it cannot be considered proof of legal operations. It turns out the broker became formally legitimate only at the end of 2024. Before that, it was hardly any different from the hundreds of scam projects circulating online.

Note! Even today, the company lists a Hong Kong address. However, it has not bothered to obtain a local license.

Another question concerns reviews. We already mentioned that the first one on Trustpilot appeared only in January 2025, after the company’s registration in the Comoros Union. Why there were no comments about Vonway Forex before that moment remains unclear.

What Does the Vonwayforex.com Website Reveal?

The official Vonway Forex website is hardly different from most other offshore broker web resources. A simple template with a white background, black-and-red blocks and bright interface elements, excessive animations, and not always well-chosen stock images — it is just another example of mediocre design. However, this approach is something we have already grown accustomed to when dealing with third-rate and scam brokers’ online representations.

There are also plenty of problems with the content. Let us highlight some of them:

• There is virtually no information about the company on the website. Moreover, there is not even an “About” page. Traders cannot access details about the firm’s history (we had to reconstruct it from open sources), payment details, financial indicators, etc. In short, the broker does not want its clients to know everything that reputable regulators require to be disclosed. The Anjouan regulator does not impose such obligations, but for the platform’s clients, this information would be far from unnecessary.
• Vonway Forex has added a few tools for traders, such as a calendar and a calculator. However, it does not publish any analytics, news feeds, or research materials. There are no educational resources either. In other words, the broker decided not to provide its users with any additional value.
• Instead of offering detailed descriptions of available markets, the company filled the corresponding pages with free TradingView widgets and trivial trading examples. Not the most useful content.
• On the “Security” page, the firm speaks eloquently about methods of protecting clients’ funds. However, it provides not a single piece of evidence that such measures are actually applied.

We could go on, but we will leave you to see for yourself how the content on the official website compares with that of popular regulated brokers. Although, to be fair, we did not expect anything different from Vonway Forex.

Is the Broker Offering Fair or Risky Terms for Traders?

Publishing detailed trading conditions is not the strongest point of the broker’s website. To begin with, let’s take a look at the list of accounts it offers.

Vonway Forex offers only four account types:

• Standard — leverage up to 1:2000, zero commissions, and spreads starting from 0.6 pips.
• Raw Spread — leverage up to 1:300, spreads from 0.1 pips, with a $7 commission per 1 standard lot.
• Micro — leverage up to 1:500, spreads starting from 2 pips, but no trading commissions.
• Cent — leverage up to 1:1000, no trading commissions.

The minimum trade size is 0.01 standard lot, or 0.1 lot for Cent and Micro accounts, where a reduced lot size of 0.01 standard is used.

At first glance, the offering looks attractive. However, the information provided is insufficient for making an informed decision about working with the broker. The company has not even disclosed the minimum deposit amounts required for each account type. And that’s without mentioning swap rates.

The table published on the “Spreads” page deserves special attention. Traders likely expected to see a breakdown of spreads for each account type and across all available (200+) assets. Instead, it appears the staff filling the page didn’t even bother checking the account details. For example, the EUR/USD spread is listed as 3 pips, which directly contradicts what the company claims in its own account table. But the real question is: why not include swap rates in the table as well?

It is clear that Vonway Forex is not eager to share its trading conditions with potential clients. A company that truly seeks to build transparent relationships with traders would provide ALL the necessary information. This question is rhetorical, of course, since the platform operated illegally without regulation for four years. Could anything have really changed since then? We doubt it. Otherwise, the project’s founders would have pursued a respected license instead of opting for loopholes like Anjouan documents.

Technical Support Analysis of Vonway Forex

To be fair, the broker has not skimped on contact information. On a dedicated page, it lists:

• Company addresses in Hong Kong and on the autonomous island of Anjouan, Comoros Union.
• Phone numbers with Hong Kong codes (landline or VoIP) and Anjouan codes (mobile).
• A support email address.
• A feedback form.

At first glance, this looks solid, especially the combination of a Hong Kong address and a phone number with a Hong Kong code. However, things are not as they seem. That exact address (down to the last symbol) is used by around twenty other companies, making it a virtual address. The phone number is also not a real landline but a VoIP number. The Anjouan address and phone are also fake, used only for registration purposes. In reality, Vonway Forex has no physical office at all. It’s hard to imagine a company that exists only online can cooperate honestly with clients.

The live chat on the website works fairly well, although its AI cannot answer even the simplest questions. Still, it handles some queries better than most offshore brokers, which is at least something.

The broker also provides links to its social media pages. These accounts were created quite some time ago, but judging by the follower count, the company is not popular among traders. For example, in almost 5 years on X (Twitter), it has posted over 1,000 tweets but attracted only 64 followers.