Woxa Broker Review 2024

Woxa is a multi-asset brokerage with 3 account types [Real, Demo, Credit]. This broker, founded in 2019, provides benefits such as a wide range of +1,200 tradable symbols across 6 categories.

The company enables trading with a leverage of up to 1:800. Also, it offers a $50 deposit bonus to its clients.

Company Details and Regulating Authorities

Woxa started its work in 2019. Headquartered in Saint Vincent and the Grenadines, this broker has been able to attract more than 100,000 users from around the world. Key Specifics About the Company:

• Legal Name: WOXA LIMITED;
• Registered Number: 26740 BC 2022;
• Registered Address: Beachmont Business Centre, 329, Kingstown, St. Vincent and the Grenadines;
• Regulation: Financial Services Commission (FSC) in Mauritius.

Table of Key Specifics and Details

Every broker comes with a set of features that define it. Let's have an overview of these features for Woxa in the table below:

Woxa Account Types

When it comes to account types, the broker keeps it simple and offers only one real account for trading. Here are the details:

• Minimum Deposit: $25;
• Leverage: 1:800;
• Account Currency: USD $.

Also, Woxa provides a demo account for trading with virtual funds in order to eliminate the risk of losing money. Besides, a Credit account is offered for a specific type of bonus.

Account Opening and Verification: Quick Guide

Creating an account with Woxa is a simple process and does not take much of your time. Here's how to do it:

• Head to woxa.com and click "Register" at the top of the page;
• Select your country, enter your name, and create a password. Alternatively, use your Google account to continue;
• Create a username and choose an avatar;
• Check your inbox and click the verification link if required.

Now, you have registered and created your account on Woxa. Upload the necessary documents and prove your identity with ID and proof of address.

However, during our attempt, we found out that new clients currently cannot register with the broker.

What Trading Platforms Are Offered on Woxa?

This broker does not offer any third-party platforms or popular options such as MetaTrader 5 to its clients. Instead, it employs proprietary software with essential features and additional benefits, such as a 3-portfolio system, visual statistics of the trader's performance, and TradingView chart integration.

You can download and install the platform's app on your mobile devices, or access it through web.

Spreads and Commissions; Trading and Non-Trading Fees

Commissions and spread structure are among the most critical factors in trading with a broker. We investigated Woxa's official website and other relevant sources for useful data about this matter. Unfortunately, the website does not provide much detail about the trading fees.

However, we can say that the commissions on the broker are above average. On the other hand, there are no fees and costs for non-trading activities (Deposits and withdrawals) or inactivity periods.

Funding and Withdrawal Options

Unfortunately, the website does not provide useful information about this matter, either. However, these are the most common methods that are likely supported on Woxa:

• Credit/Debit Cards: Typically VISA or MasterCard;
• Bank Transfers: Various types of transfers between bank accounts.

Does Woxa Provide Social Trading Features?

One of the benefits of this brokerage is its copy trading or social trading service. You have the option to earn passive profits besides trading with it. Key Points of Social Trading in Woxa:

• Browse and follow top-performing traders;
• Automatically copy trades in real time;
• Adjust risk levels and investment amounts;
• View detailed performance metrics of traders.

There's an option to use your demo account for copy trading on this brokerage to try without risking your capital.

Copy trading isn't just about mimicking others – it's a learning opportunity, too. By watching successful traders in action, you can pick up valuable insights and strategies.

Are There Any Bonuses Offered by Woxa?

The brokerage offers one promotion to new users, and it's a $50 bonus. This offer is attractive to many traders since it does not require any deposits and is given to the client upon opening an account, but you should read the terms and conditions before trading with it.

Also, the bonus itself is not withdrawable; you can only withdraw the profits, and it's available on a separate account than your real one.

Support Channels and Working Schedules

When it comes to customer support, Woxa provides a typical level of such services to its clients. Let's investigate its channels:

• Live Chat: Available through the website;
• Email: support@woxa.com.

The lack of phone support might be a dealbreaker for some, especially those who prefer a more personal touch. Also, there's no 24/7 support; The team is available every day from 03:00 to 19:00 (UTC).

Trust Scores & User Ratings

Trust is crucial in the world of online trading, and platforms such as Trustpilot are helpful sources for evaluating a broker's reliability. Woxa's page on the mentioned website is controversial.

As stated by trustpilot.com, the company has received fake reviews on its website page; therefore, a breach of guidelines has occurred, and the rating is unavailable now.

This incident is concerning, and we consider it a severe drawback for Woxa. Also, there are no reviews on other reputable platforms like REVIEWS.io and ForexPeaceArmy.

Conclusion and Final Words

Woxa is a brokerage with a minimum deposit of $25 and a maximum leverage of 1:800. The broker does not charge any fees for inactive accounts, deposits, and withdrawals.

The company serves over 100,000 clients worldwide. It is registered as WOXA LIMITED under the number 26740 BC 2022.