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Matthew Roberts embarked on his journey in the financial industry over two decades ago, starting out as a meticulous accountant at a prestigious firm. His dedication to accuracy and transparency earned him recognition early in his career, leading to several commendations for excellence in financial reporting.
Driven by a passion for fairness and integrity in financial markets, Matthew’s career trajectory evolved as he delved into risk management and regulatory compliance.
When John retired, he founded traderhelpbook.com. His initiative stems from firsthand experiences witnessing the challenges traders face due to misinformation and deceitful practices. Matthew ‘s leadership is marked by a commitment to empowering traders with reliable information and tools, ensuring they can navigate the complex world of finance safely and confidently.
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.
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.
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?
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.
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.
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.
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:
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.
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:
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.
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.
To be fair, the broker has not skimped on contact information. On a dedicated page, it lists:
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.