Woxa Forex broker review — Everything you need to know

Woxa currently only accepts traders from Malaysia, the Philippines, and Vietnam.

Woxa is a regulated CFD trading platform. The broker is a regulated company that offers access to over 1,200 instruments in diverse markets such as Forex, commodities, indices, cryptos, and stocks. The broker also offers access to the popular advanced multi-asset trading platform TradingView, which is very flexible and provides advanced features such as plenty of indicators and automated trading capabilities. There is 24/7 customer support, and live chat is also available. The broker offers very little detail about its services and conditions, which is a downside and a major red flag.

Safety of Woxa

When it comes to safety, which is the most important factor in FX trading, Woxa was overseen in Mauritius by the FSC, but operates currently without a license and is registered in Saint Vincent and the Grenadines. Some sources indicate that the broker is still overseen in Mauritius, but it does not provide any details about its regulations, which is strange if it really was regulated. Brokers love advertising their regulatory licenses, and it seems Woxa is no longer under the FSC oversight, which is a major red flag for its safety. It mainly operates in Southeast Asian markets, notably the Philippines, Malaysia, and Vietnam, but provides a multilingual website.

Woxa Overview of the website

The website of Woxa is responsive and fast, with a simplistic design. However, the broker does a terrible job explaining the details about its services, such as minimum deposit, account types, leverage, and so on. However, there are great details provided regarding its trading markets and trading platform. This lack of details will make traders seek other brokers, and add to it no regulations, and we have a giant red flag.

Overall, the website of the Woxa offers a mediocre experience of explaining the broker’s main services and other details, which makes it very difficult to find out what exactly the broker has to offer.

Woxa Accounts Reviewed

When it comes to trading account types, Woxa does not offer much. The broker only has one live account type and another one where it offers a 50 USD bonus for signing up without providing any other details, which is a red flag.

Woxa STP account

Woxa is an STP broker offering trading services without commissions but having spreads on top of prices. The maximum leverage is up to 1:800, and the minimum deposit is also unspecified, but should start from at least 25 USD.

Deposit and withdrawal options at Woxa

Deposits and withdrawals at Woxa are supported using several payment options, like wire transfers, which are slow and incur charges. Withdrawal processing is lengthy and not attractive, as traders have to wait 3-5 business days for their profits to arrive.

Woxa Assets — What can you trade?

The only advantage of Woxa is its offerings of diverse markets, such as FX pairs, commodities, indices, cryptos, and shares. Traders can speculate on these markets with up to 1:800 leverage, which is accessible on FX pairs. Cryptos and shares have lower leverage, but the broker does not charge commissions.

Trading platforms of Woxa

The only trading platform offered by Woxa is the TradingView, which is an advanced web-based multi-asset platform. It offers both custom indicators and automated trading capabilities, and the broker also supports social trading. Mobile trading is available via the TradingView mobile app, accessible on all major platforms like iOS and Android.

Education at Woxa

The broker provides access to Woxa Academy, which includes learning materials such as articles and guides. However, there are no webinars or other live events provided, which is a downside.

From tools, there are calculators and an economic calendar available, which is flexible.

Woxa Customer Support

Customer support experience at Woxa is provided via live chat and email options. There is no phone support option offered, which is a big downside for the broker. Both the website and support are provided in multiple languages, which is flexible.

Woxa bonuses and promotions

There are no bonuses and promos except for the 50 USD trading account that gives 50 bucks to trades. Traders can only register from Malaysia, the Philippines, and Vietnam for this account, which makes it a very limited offering. Its services are offered mainly for residents of Malaysia, the Philippines, and Vietnam.

Is Woxa your broker? Final verdict

Woxa is a Forex and CFDs broker registered in Saint Vincent and the Grenadines. The broker is not regulated. It offers access to over 1200 instruments with support for TradingView and a 50 USD bonus for new users. However, the broker lacks transparency, offers limited details about its conditions and accounts, and offers very high leverage, which is very risky.

FAQs on Woxa broker

Where is Woxa based?

Woxa is registered in Saint Vincent and the Grenadines. The broker was regulated in Mauritius before, but no longer has the license, which is a red flag.

Can you withdraw from Woxa?

Yes, but withdrawals are lengthy using wire transfers, which makes it very unattractive.