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Unbiased Vonway Review 2024

By the end of today’s broker review, you’ll learn everything about Vonway’s history, founding, trading conditions, regulations, and hopefully, we’ll address every concern you have regarding the safety of the broker.

Since the introduction of deposit bonuses, Vonway’s popularity among traders has risen drastically. With this article, I’ll tell you all about Vonway’s active and past bonuses. Vonway has now expanded its network to Muslim countries, offering a Ramadan bonus.

Vonway Forex Overview

Vonway is a forex broker based in Hong Kong, 2017. Their brokerage services include forex, indices, stocks and commodities with a maximum leverage of 1:2000. Vonway is known for its not so clean history with regulatory authorities despite its competitive trading conditions. At first, Vonway claimed to be registered with SVG FSA, which was inaccurate as SVG FSA does not regulate forex trading. Later, it claimed incorporation in Hong Kong but lacked authorization from the Hong Kong Securities and Futures Commission (SFC).

Vonway offers attractive trading conditions, such as low spreads and a raw account with zero spreads. With the use of MT4 platform, low spreads attracts scalpers and automated trading strategies. But what’s good if you can not withdraw the money? Vonway’s lack of regulation and misleading information regarding its regulatory status shows that the broker can not be trusted. This regulatory history posesses significant risks to traders’ funds, with potential issues including misrepresentation, lack of investor protection, and concerns over the security of personal and financial information.

Scam brokers usually rely on new clients for their revenue. They usually offer conditions that are too good to be true to keep the customer flow. I can’t definitively label Vonway as a scam broker because I lack evidence of a Ponzi scheme or any fraudulent activities. However, the manner in which it promotes and operates bears similarities to that of scam brokers. Vonway promotes exceptional bonuses that can reach up to 80% for new deposits. Of course these conditions are subject to certain conditions and trading activity requirements. Vonway offers exceptional trading conditions but reliability of the broker is a huge red flag.


What is Vonway?

Vonway is a forex broker that was registered in Hong Kong, 2017. Broker provides trading services for forex, indices, stocks, and commodities. Vonways has a reputation with its complicated history of regulations despite offering a broad range of market instruments and account types. These account types include high leverage up to 1:2000 which is one of the highest offering in the forex market.

The official website of the broker is Vonway also offers a demo account for trader who are looking for a way into forex. Vonway’s main trading platform is the platform non other than MT4, the platform that we all love. You can execute tradings across multiple platforms with Vonway’s MT4. Vonway offers customer support through live chat and email.

Even though these sound good, the most important thing to look for in a broker is their regulations and Vonway has its controversial history with regulations. We’ll dig dive into this in our following chapters.

In past, Vonway claimed to be registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under a certain registration number. This has started to become a standard practice among scam brokers. In Vonways’ case , the registration number belonged to a different company, and SVG FSA does not even issues licenses for forex trading nor regulate entities providing forex services.

Vonway then updated its registration information with a new incorporation in Hong Kong, yet it still lacks the necessary authorization from the Hong Kong Securities and Futures Commission (SFC) to legally offer financial services. This complicated regulatory status makes you think about the legitimacy of their operations.

Vonway’s history is no clean sheet. We don’t know who the founders of Vonway they prefer to keep it private but the main concern is their history with regulations. Trading with an unregulated broker is a risk that you should not go near. Publishing misleading information on official sources is another thing. I haven’t seen anything related to ponzi or pyramid scheme but still there is no guarrantee that their operations will be consistent and reliable.


Vonway Trading Conditions

  1. Spreads and Pricing: Vonway offers tight spreads starting as low as 0.0 pips on their Raw Spread account. Vonway claims to have one of the lowest average EUR/USD spreads globally at 0.1 pips along with 25 different liquidity providers​​.
  2. Leverage: Vonway provides high leverage ratios up to 1:2000. With the freedom of being an unregulated broker, Vonway certainly knows its ways to attract traders. 1:2000 Maximum leverage with spreads starting from 0.1 is too good to be true. And there is a high possibility that it’s not but we’ll dive into that later.
  3. Trading Platforms: The broker offers the MetaTrader 4 platform, compatible with Windows, iOS, and Android devices and all available at respective app stores. MT4 is the best for its advanced charting tools, automated trading capabilities, and custom indicators​​.
  4. Trading Instruments: Vonway provides access to a many trading instruments, including forex, indices, commodities, cryptocurrencies, and stocks.
  5. Account Types: Vonway offers two types of live accounts for various needs of traders. Standard Account, a Raw Spread Account, and a Demo Account for beginners to practice trading without risk. The Raw Spread Account is especially good for having low spreads and a small commission of $7 per lot per side. On paper, Vonway’s raw spread account is great for day traders, scalpers, and users of expert advisors​​​​(EA).
  6. Minimum Deposit: Understanding the minimum deposit requirements can be tricky. Vonway doesn’t have a minimum deposit requirement for its standard and raw spread account, but the thing is they have deposit limits for payment methods and minimum amount is $25.
  7. Execution and Liquidity: Vonway claims to have rapid execution and deep liquidity. They place themselves as a broker that provides optimal trading conditions for high volume traders, scalpers, and automated trading systems. Vonway is proud of being a no dealing desk broker and claims that there is no price manipulation, or requotes. With these claims they aim to accommodate high-frequency trading and scalping​​.
  8. Deposits and Withdrawals: Vonway offers various methods are supported for account funding and withdrawals, including bank wire transfer, PayPal, Neteller, Visa/MasterCard, and more​​.
  9. Trading Hours: Vonway allows trading 24 hours a day, five days a week, reflecting the standard forex market operating hours.
  10. No Trading Restrictions: There are no restrictions on trading styles, including scalping allowed, and no minimum order distance.

Vonway’s aims to accommodate traders of all level but they lack regulations. From beginners to experienced, from manual traders to algo traders and automated traders, Vonways offers exceptional trading conditions. However, I don’t trust their legitimacy since their history of regulation and customer reviews are not very persuading. I advise you to proceed with caution.

Is Vonway Safe?

In the past, Vonway claimed to be regulated by various regulatory bodies, but it has been revealed inconsistencies and inaccuracies in these claims. Initially, Vonway claimed to be registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under a certain registration number. However, this number was found to belong to a different company named “TradingPro International Ltd,” and SVG FSA itself does not issue licenses for forex trading or regulate entities involved in forex services.

Vonway’s License and Regulations

Later, Vonway updated its registration information to claim that it was incorporated in Hong Kong under the company name Vonway Global Limited. While this company was indeed found to be registered in Hong Kong, mere registration with the Companies Registry (CR) in Hong Kong does not equate to being authorized to legally offer financial services or products in or from this jurisdiction. Specifically, forex brokers operating in Hong Kong are required to obtain a license from the Hong Kong Securities and Futures Commission (SFC), and Vonway Global Limited’s name does not appear on the SFC Register.

Furthermore, when you go into their website and connect to the live chat they will tell you that they are regulated by ASIC through a company named MGF PTY LTD, when you go and check the ASIC website you can see that this company also had a complex history with the regulations, deregistering multiple times. There is also an entry for Vault Markets but also in the process of being deregistered.

The lack of regulation from any recognized financial authority aside, this complex structure and history full of misleading information is a huge reg flag if you ask me. The way that Vonway operates without the oversight of necessary authorities does not convey the message of safety and security. Regulatory oversight is crucial for the legitimacy of brokers and the protection of investors, and the absence of such regulation with Vonway means that your funds are at significant risks.


My Concerns About Vonway’s Legitimacy

  1. Lack of Regulation: Vonway operates without regulation from any recognized financial regulatory authority. This means there’s no oversight to keep them in the line for fair trading practices or to protection of trader funds. In case of broker insolvency or fraudulent activities​​​​, your funds will be at huge risk.
  2. Misrepresentation of Regulatory Status: Vonway has made false claims regarding its registration and regulation. Initially, it claimed to be registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), a claim that was found to be false. Vonway also updated its registration, claiming incorporation in Hong Kong, but it does not have the necessary authorization from the Hong Kong Securities and Futures Commission (SFC) to legally offer financial services​​.
  3. Risk to Investor Funds: Without regulatory oversight, there’s a heightened risk to investor funds. Regulators demand strict financial standards, including capital adequacy requirements and the segregation of client funds. In the absence of such regulation, there’s no guarantee that Vonway will handle your assets securely and responsibly​​​​.
  4. Potential for Misleading Information: Vonway’s history of providing misleading information about its regulatory status raises concerns about the reliability of other information. Vonway claims to have exceptional trading conditions, spreads, and financial instruments​​ but the user reviews does not align with their claims.
  5. The lack of Peacemakers: In the event of disputes or issues, such as withdrawal problems or problems in trade execution, you’ll have limited to no recourse without a regulatory body to file complaints or seek arbitration from​​​​.
  6. Concerns Over Trading Conditions: While Vonway advertises to have competitive spreads and trading conditions, the lack of regulatory oversight and mixed user reviews means that, there’s no external verification of these claims.
  7. Security of Personal Information: Opening an account with any broker requires submitting personal and financial information, even with demo accounts. Without regulatory assurance, the is a high risk of identity theft and other problems may be caused by the misuse of your sensitive information.

Vonway Spreads

Vonway, on paper, offers competitive spreads across a wide range of trading instruments. Vonway’s spreads are among the lowest for major and minor currency pairs. Vonway’s ability to offer such tight spreads with over 25 different liquidity providers keeps the liquidity deep and spreads tight throughout the trading week. They offer variable spreads on their varying accounts, with spreads potentially going as low as 0.0 pips on their Raw Spread Account platforms.

Vonway’s Forex trading environment is tailored for high-volume traders. Scalpers can benefit from tight spreads and best possible execution. Vonway’s Raw Spread account specifically offers some of the lowest possible spreads available, with an average EUR/USD spread of 0.1 pips and a small commission of $7 per lot payable per side. Vonway’s Raw Spread account is designed for day traders, scalpers, and expert advisors. Vonway’s MetaTrader 4 Raw Spread servers located in the Equinix NY4 data center in New York for minimum latency and fast trading experiences.

Here you can find an example of the spreads and commissions. Vonway’s trading conditions may sound good but remember the most important thing when trading forex is your safety. Your savings and funds are meant to be used in informed trading decisions and choosing an unregulated broker just because the trading conditions are better is not an informed decisions. There are well regulated low spread forex brokers and even brokers that will allow you to start trading with $1.

Account Base CurrencyMicro Lot Commission (0.01 or 1,000 base currency)Standard Lot Commission (1 or 100,000 base currency)
AUD Account (Australian Dollar)AUD 0.035 (AUD 0.07 round turn)AUD 3.50 (AUD 7.0 round turn)
USD Account (US Dollar)USD 0.035 (USD 0.07 round turn)USD 3.50 (USD 7.0 round turn)
EUR Account (Euro)EUR 0.0275 (EUR 0.06 round turn)EUR 2.75 (EUR 5.5 round turn)
GBP Account (Pound Sterling)EUR 0.0275 (GBP 0.05 round turn)EUR 2.75 (GBP 5.0 round turn)
SGD Account (Singapore Dollar)SGD 0.045 (SGD 0.09 round turn)SGD 4.50 (SGD 9.0 round turn)
JPY Account (Japanese Yen)JPY 3.5 (JPY 7 round turn)JPY 350 (JPY 700 round turn)
CHF Account (Swiss Franc)CHF 0.033 (CHF 0.07 round turn)CHF 3.30 (CHF 6.60 round turn)
NZD Account (New Zealand Dollar)NZD 0.045 (NZD 0.09 round turn)NZD 4.50 (NZD 9.00 round turn)
CAD Account (Canadian Dollar)CAD 0.035 (CAD 0.07 round turn)CAD 3.50 (CAD 7.0 round turn)
HKD Account (Hong Kong Dollar)HKD 0.27125 (HKD 0.54 round turn)HKD 27.125 (HKD 54.25 round turn)

Vonway Account Types

Vonway Standard Account

Vonway’s Standard Account advertised as unmatched trading efficiency but the customer reviews suggest otherwise. The stand out point of Vonway’s standard account is its lightning-fast execution speed and inclusive spreads starting from 0.6 pip. With the technological stability of Equinix NY4 servers in New York and 25 liquidity providers Vonway’s Standard Account offers a rapid and care-free trading experience on paper.

Key Features of Vonway Standard Account:

  • Leverage: Up to 1:2000 leverage.
  • Spreads: Tight spreads beginning at 0.6 pips.
  • Liquidity: 25 financial providers.
  • Commission: Zero commission costs.
  • Execution: Rapid order execution with low latency.

Vonway Raw Spread Account

Vonway’s Raw Spread Account is mainly designed for day traders, scalpers, and traders who utilize expert advisor in mind. Raw spread account advertises spreads from 0.0 pip to 0.1 pip. Average EUR/USD spread of just 0.1 pips along with the commission of $7 per lot per side sounds amazing to be honest.

  • Leverage: Maximum leverage goes up to 1:300.
  • Spreads: Starts from 0.0 Pips.
  • Liquidity & Pricing: 25 financial partners.

What Vonway Account Types Offer:

  • Flexible Lot Sizing: Ability to shape your trades with the freedom to go as low as one micro lot (0.01) makes Vonway accounts perfect for testing strategies with minimal risk.
  • Diverse Funding and Withdrawal: A broad selection of funding options offers an easier and smoother trading experience.
  • Low Spreads: There are other reliable brokers that offer zero-spread accounts and I suggest you to option for reliable and reputable brokers like Tickmill or Exness. This aside Vonway’s offers amazing spreads that can be useful for many strategies.
  • Rapid Execution: With technological facilities of New York’s financial ecosystem, MT4 platform guarantees swift trades.

Vonway Withdrawal Process

When you dig long and hard enough on the internet, you’ll see mixed customer reviews about Vonway’s withdrawal processes. Customers are usually complaining about not getting their money or their account being deleted after some profitable traders. But if you are determined to give Vonway a chance, here’s a detailed table on Vonway’s withdrawal.

Payment MethodCurrencyMinimum DepositMinimum WithdrawalCommissionProcessing Time
Credit & Debit CardUSD$50.00$25.00On Deposit: 1 Working Day
On Withdrawal: 1 Working Day
On Deposit: 1 Working Day
On Withdrawal: 1 Working Day
Echelon PayUSD$50.00$25.00On Deposit: 1 Working Day
On Withdrawal: 1 Working Day
On Deposit: 1 Working Day
On Withdrawal: 1 Working Day
Walao PayUSD$50.00$25.00On Deposit: 1 Working Day
On Withdrawal: 1 Working Day
On Deposit: 1 Working Day
On Withdrawal: 1 Working Day
PaytrustUSD$50.00$25.00On Deposit: 1 Working Day
On Withdrawal: 1 Working Day
On Deposit: 1 Working Day
On Withdrawal: 1 Working Day
FpxUSD$50.00$25.00On Deposit: 1 Working Day
On Withdrawal: 1 Working Day
On Deposit: 1 Working Day
On Withdrawal: 1 Working Day

Additional Notes About Vonway’s Withdrawal:

  • Withdrawals will be processed in the base currency of your trading account.
  • You need to submit withdrawal requests from Secure Client Area.
  • Withdrawal processes cary based on the type. First-time withdrawals, accounts with expired or replaced credit/debit cards, and for withdrawals exceeding the sum deposited via certain methods goes through different processes.

Special Withdrawal Conditions:

  • Accounts funded by specific methods (e.g., Fasapay, Poli/Bpay, Skrill Bitcoin deposits, Rapidpay, Klarna) can withdrawn with bank wire transfers, wiring can be costly and charge transaction fees along with a processing time of 3-5 business days.
  • For withdrawals to a Thai bank account funded via Thai Internet Banking, a clear picture or colored scan of the bank book is required.
  • Vonway does not process payments to third parties. Withdrawal requests must go to a bank account or a source in your name.
  • For amounts exceeding the sum deposited by Verified by Visa / MasterCard Secure Credit / Debit Card you’d need alternative deposit methods or a bank wire transfer.

Vonway Bonuses

Vonway Ramadan Bonus Up to 70% (Available)

Who can benefit from Vonway Ramadan Bonus?

  • Vonway Ramadan Bonus is only available to new clients who open an MT4 account.
  • Customers can only benefit from one bonus per unique IP address.

Vonway Ramadan Bonus Details

The bonus amount varies depending on the deposited amount. The maximum limit to benefit from the bonus is $500, and the minimum is 20 USD.

  • 30% bonus for deposits between USD 20 to USD 99.
  • 50% bonus for deposits between USD 100 to USD 199.
  • 70% bonus for deposits of USD 200 and above.

Vonway Ramadan bonus will be automatically credited to a MT4 Bonus Account upon successful registration and verification.

vonway ramadan bonus a forex broker that gives ramadan bonus -min

Trading Conditions for the Vonway Ramadan Bonus

  • The volume calculation starts from the first time the bonus is credited to your account.
  • Any withdrawals or internal transfers during the promotion period will eliminate the bonus.
  • If the amount in your account drops below the bonus amount, you’ll lose the bonus.
  • Trading using Expert Advisor (EA) is not allowed.
  • Maximum leverage for the bonus account is 1:500.
  • No maximum trade volume for Forex, Cryptocurrency, and Commodities. For Stocks, Indices, and Energies the maximum trade volume is 1.00.
  • The bonus requirement includes a minimum trading position time of 180 seconds.
  • The Vonway Ramadan bonus can be used to trade various instruments including Forex, Cryptocurrency, Commodities, ETFs, Stocks, Stock Indices, and Metals.

You can withdraw the Vonway Ramadan bonus after trading a minimum of two lots. Withdrawal transactions may take up to three business days. Any indication of arbitrage, abuse, manipulation, or deceitful activity will result in losing the bonus.

EligibilityNew clients with MT4. Selected clients only. Not eligible if bonus already claimed from specific IB.
Bonus CapUp to 70%, capped at USD 500
Minimum Deposit30% bonus for USD 20-99, 50% bonus for USD 100-199, 70% bonus for USD 200+
Volume RequirementVolume calculation starts from the first credit of the bonus. Withdrawals/internal transfers forfeit the bonus.
LeverageMaximum 1:500 for MT4
Maximum Open PositionsNo maximum for Forex, Cryptocurrency, Commodities; 1.00 for Stocks, Indices, Energies
Minimum Position TimeAt least 180 seconds
Withdrawal ConditionsBonus forfeited if equity less than bonus amount. Trading using EA is prohibited.

Vonway’s %80 Bonus for First Deposit ( Not Available)

“The %80 Forex Deposit Bonus” is Vonway’s deposit bonus for new clients. Vonway offers %80 bonus for your first deposit. In order to get the bonus, you’d have to sign up for the first time and use the MT4 account. You’d need to be legally eligible to make contracts. The bonus amount is not fixed to %80 it can changed based on how much you’ve deposited. You can use it for trading and withdraw the money you’ve traded, you can’t just withdraw the bonus. Bonus is limited to only one IP, so you will either be using on the same network or with the same vps. You’ll also need a special bonus account. The ‘80% Deposit Bonus’ from Vonway Forex is available for 90 days, but there are rules you need to follow. One important restriction is that you can’t use Expert Advisors (EA) while trading with the bonus and the other one is that you need to keep positions for a specific time.

EligibilityNew clients using MT4, selected clients, subject to legal capacity and age restrictions
Bonus AmountUp to 80%, capped at USD 558
Deposit Ranges for Bonus30% for USD 20-99, 50% for USD 100-199, 80% for USD 200+
Account RequirementMetaTrader 4 (MT4) CNY Account, “Bonus Account” required
Validity Period90 days from account activation, with specific trading activity requirements
Trading RestrictionsNo Expert Advisor (EA) use, fixed leverage of 1:500, specific volume and position time rules
Withdrawal ConditionsWithdrawal rules include forfeiture of bonus under certain conditions

%50 Deposit Bonus For New Vonway Customers (Not Available)

“Vonway 50% Deposit Bonus” offers up to a 50% bonus on deposits for new clients using MetaTrader 4 (MT4). The bonus maximum is at $250. Vonway 50% Bonus will be credited automatically upon successful registration, verification, and a minimum deposit of $20. The bonus will be locked until trading volume requirements are met. The bonus is also claimable for every deposit during the promotion period but like the Vonway %80 bonus, it’s limited by only one IP. Trading conditions include a minimum of 2 standard lots to withdraw the bonus. Maximum leverage is set at 1:500.

EligibilityNew and Existing MT4 Clients
Bonus CapUSD 250
Minimum DepositUSD 20
Volume Requirement2 Standard Lots
Maximum Open Positions5
Minimum Position Time5 Minutes
Withdrawal ConditionsVolume requirements has to be met


In conclusion, Vonway is a broker that presents intriguing options for traders who seeks high leverage and low spreads. However, the broker’s regulatory history is questionable and mixed customer reviews dictate caution. While Vonway is known for its constant bonuses and diverse account types, none of these matter when you are not safe with your deposits. You need to understand the potential risks associated with an unregulated broker.


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Rating: 3.0