Sign In with Google
Sign In with Facebook
An Introduction to Volume Groups FX
Volume Groups FX, a prestigious online Forex and CFD broker, offers global investors and traders an opportunity to explore different trading arenas, from forex to indices, commodities, and futures. Catering to a broad spectrum of clients from retail to institutional and from novice to experienced, we're currently serving a growing customer base across over 20 countries. While our primary focus is the Arab-speaking market, we're committed to providing an exceptional trading solution to every trader, regardless of language. However, there are few aspects of the company that require attention, which we'll delve into in this thorough review.
Addressing the Elephant in the Room: Legal Status
While Volume Groups FX asserts its presence in two major global hubs, Istanbul (Turkey), and London (England), information regarding its legal credentials is rather scarce. They identify themselves as an "authorised firm" but provide little else beyond a registration number.
Navigating Through Account Options
Our quick site tour didn’t uncover any account comparison or detailed account specifications. It seems that Volume Groups FX may offer a single trading account type. As we dissect each review section, we'll indicate any potential discrepancies, assuming that all information refers to this single available account.
Trading Platforms and Features
Volume Groups FX furnishes its clients with just one trading platform: the highly-acclaimed MetaTrader 5. This platform provides immediate and request execution alongside an inclusive technical analysis package.
Leverage and Risk Management
The leverage offered by Volume Groups FX ranges from 1:1 to a maximum of 1:500, striking a fine balance between risk and reward—a stance that's become increasingly popular among many brokers. Clients can select their desired leverage upon account setup, though it's unclear whether this can be adjusted post-account opening.
Deposits and Minimum Initial Investment
To commence trading, a minimum initial deposit of $500 is required. Following the first deposit, there's no lower limit for further deposits.
Deposits can be made via Bank Wire Transfer or Credit/Debit Card without any extra charges from Volume Groups FX. However, users are advised to check with their respective banks or card issuers for any potential transfer fees. Oddly, the website mentions PayPal charges, despite PayPal not being listed as a deposit method, creating some ambiguity regarding its usability.
Withdrawals and Associated Details
According to the website, withdrawals can be made through Bank Wire Transfer and PayPal, suggesting that PayPal is indeed a viable option. Volume Groups FX doesn’t levy any fees or commission for withdrawals, but users should consider possible charges by PayPal or their banking institutions.
Withdrawal Processing timelines are prompt, with funds appearing in your PayPal account within 24 hours of receiving your Withdrawal Form. Funds withdrawn to a bank account typically take 2 to 4 working days to process.
Bonuses and Promotions
As of writing this review, no active promotions or bonuses are apparent on Volume Groups FX. However, potential promotions can be inquired about via the customer service team.
Education and Trading Tools
Volume Groups FX offers a trifecta of basic educational blog posts. These include a page offering trading tips, another set of forex trading tips, and a brief guide on trading Gold and Silver.
Demo accounts are available for practice, mimicking the trading conditions mentioned in this review. While there isn't any additional information regarding expiration times, the demo account offers an excellent risk-free environment to test trading strategies and understand market dynamics.
Conclusion
While Volume Groups FX showcases potential as a forex and CFD broker, it falls short in a few areas. Its unclear legal status and absence of comprehensive account information warrant cautiousness. The leverage and deposit policies are user-friendly, and the offering of MetaTrader 5 is commendable. However, the limited educational resources could hinder new traders. Therefore, it is always advisable to do thorough research and possibly seek expert opinion before deciding to trade with any broker.
