Voyagemarkets.net Review

Based on checking the website Voyagemarkets.net, it appears to be a platform offering simulated trading environments and platform administration services primarily for “funding evaluation firms.” While the site emphasizes “simulated market data” and “simulated trading,” the underlying activities it facilitates are deeply rooted in Contracts for Difference CFDs trading across various asset classes, including Forex, Commodities, Indices, and Cryptocurrencies.

This raises significant ethical concerns, especially from an Islamic perspective, due to the inherent elements of Riba interest, Gharar excessive uncertainty/speculation, and Qimar gambling often associated with CFD and speculative trading.

Here’s an overall review summary:

• Overall Legitimacy: Highly questionable due to the nature of the services offered simulated CFD trading for profit-seeking firms.
• Transparency: Adequate in terms of terms of use and privacy policy, but the business model itself lacks transparency regarding the real risk and Sharia compliance.
• Ethical Compliance Islamic Perspective: Not Recommended. The core business model, even if “simulated,” prepares users for CFD trading, which is generally considered impermissible due to Riba, Gharar, and Qimar.
• User Experience: Website is well-structured and easy to navigate.
• Customer Support: Contact information email, physical address is provided, but direct support channels beyond email are not prominently displayed.
• Key Concern: The promotion of simulated trading environments for CFDs, directly leading to engagement in activities akin to interest-based transactions and speculative gambling.

The site is designed to attract “funding evaluation firms” looking to train traders in a simulated environment before they potentially engage in real-world speculative trading.

This business model, while presented as a service for firms, ultimately supports and normalizes activities that are generally considered impermissible in Islam.

The focus on “low spread, high leverage, fast execution” directly points to characteristics of speculative trading that are rife with Riba and Gharar, even in a simulated context, as they aim to replicate real-world impermissible transactions.

Therefore, for individuals and businesses seeking to adhere to ethical Islamic principles, Voyagemarkets.net and similar platforms should be avoided.

Instead, focus on tangible, asset-backed, and ethically sound alternatives that promote real economic value and avoid excessive risk and interest-based dealings.

Here are some ethical and permissible alternatives to speculative trading platforms:

• Islamic Investment Funds
  • Key Features: Invest in Sharia-compliant equities, real estate, or sukuk Islamic bonds. Managed by professionals who ensure adherence to Islamic finance principles, avoiding interest, gambling, and prohibited industries alcohol, tobacco, conventional finance.
  • Average Price: Varies based on fund type and management fees typically 0.5% – 2% annually.
  • Pros: Sharia-compliant, professional management, diversification, long-term growth potential.
  • Cons: Returns can be lower than conventional funds, limited investment options compared to conventional markets, fees apply.
• Ethical Crowdfunding Platforms for real businesses
  • Key Features: Invest in or lend to ethical businesses and startups, often focusing on social impact or sustainable practices, without interest-based lending. Examples include equity crowdfunding or profit-sharing models.
  • Average Price: Investment amounts vary, typically starting from low hundreds to thousands.
  • Pros: Direct investment in real businesses, potential for high returns, supports ethical enterprises, fosters community.
  • Cons: High risk especially for startups, illiquid investments, requires due diligence.
• Halal Real Estate Investment Trusts REITs
  • Key Features: Invest in a portfolio of income-generating real estate properties through a Sharia-compliant structure, focusing on tangible assets and rental income.
  • Average Price: Accessible through brokerage accounts, unit prices vary, similar to stocks.
  • Pros: Diversification, regular income rental yield, exposure to real estate without direct ownership burdens, generally more stable.
  • Cons: Market value fluctuations, liquidity can be lower than stocks, requires Sharia screening.
• Sustainable and Ethical Product Businesses
  • Key Features: Investing in or supporting businesses that produce tangible goods in an ethical and environmentally friendly manner. This could involve direct investment, purchasing their products, or even starting such a business.
  • Average Price: Varies widely, depending on the business or product.
  • Pros: Supports real economic activity, positive social and environmental impact, aligns with ethical consumption.
  • Cons: Requires hands-on involvement if starting a business, direct investment can be high risk, due diligence on ethical claims is needed.
• Islamic Microfinance Institutions
  • Key Features: Provide financial services to low-income individuals or groups, often using Qard Hasan interest-free loans or Mudarabah/Musharakah profit-sharing models, promoting productive ventures.
  • Average Price: Not an investment for profit-seeking, but a means of charitable or social impact investment.
  • Pros: High social impact, helps alleviate poverty, adheres strictly to Islamic finance principles.
  • Cons: Not for personal financial gain, more of a philanthropic endeavor, limited availability.
• Ethical Consumer Goods Companies
  • Key Features: Investing in publicly traded companies via Sharia-compliant screening that produce everyday consumer goods, emphasizing ethical labor practices, environmental responsibility, and avoiding prohibited products.
  • Average Price: Stock prices vary. accessible via Sharia-compliant brokerage accounts.
  • Pros: Part of the real economy, potential for stable returns, aligns with ethical values.
  • Cons: Requires careful screening for Sharia compliance, market volatility can affect stock prices.
• Agricultural & Land Investments
  • Key Features: Direct investment in productive agricultural land, farms, or related businesses, focusing on tangible assets and real economic output from farming and food production.
  • Average Price: Requires substantial capital for direct purchase. smaller units or managed funds might be available.
  • Pros: Tangible asset, potential for long-term appreciation, contributes to food security, Sharia-compliant if structured properly.
  • Cons: High capital requirement, illiquid, susceptible to environmental factors and market fluctuations, requires management or trusted partners.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Voyagemarkets.net: A Deep Dive into its Offerings and Ethical Stance

Voyagemarkets.net presents itself as a provider of “simulated market environments” for “funding evaluation firms.” While the language used might sound innocuous, a closer look reveals that the core service revolves around Contracts for Difference CFDs trading on various financial instruments, albeit in a simulated setting.

This immediately raises red flags from an ethical standpoint, particularly within the framework of Islamic finance, which prohibits transactions involving Riba interest, Gharar excessive uncertainty, and Qimar gambling. The platform’s promotion of high leverage and tight spreads, common in CFD trading, further underscores the speculative nature of the activities it aims to prepare traders for.

What is Voyagemarkets.net and How Does It Work?

Voyagemarkets.net is positioned as a service provider for businesses, specifically “funding evaluation firms,” rather than direct retail traders.

Its stated purpose is to equip these firms with “the MOST POPULAR trading platforms for funding evaluation firms who offer a simulated market environment.” This implies that the end-users are aspiring traders within these firms, undergoing evaluation before they potentially handle real capital.

The “How It Works” section, though brief, suggests a process of providing comprehensive platform administration services, a simulated trading environment, expert education for business operators, and strategies for cost reduction and sustainable trader flow.

They claim to work with “world-class liquidity providers” to enable “CFD’s simulated trading on Forex, Commodities, Indices, and Cryptocurrencies.”

Key aspects of its operation include:

• Simulated Environment: The emphasis on “simulated market data” and “simulated trading” is crucial. This means users are not trading with real money directly on the platform in live markets. However, the simulation aims to replicate the conditions of live CFD trading.
• Target Audience: Not individual traders, but rather “funding evaluation firms” that use these simulated environments to assess and train their own traders. This makes Voyagemarkets.net a B2B service.
• Platform Provision: They offer access to popular trading platforms like cTrader Web, Windows, iOS, Android and Match-Trader Web App. This implies they are reselling or licensing these platforms.
• Instrument Coverage: The simulated trading covers a wide range of CFDs on Forex 40+ pairs, Shares major companies like Apple, Amazon, Meta, Netflix, Tesla, Cryptocurrencies, Commodities & Metals spot gold, spot silver, and Indices UK 100, S&P 500.

Why this is problematic from an Islamic perspective:

Even if the trading is simulated, the intent and training are for engaging in CFD trading. CFD trading is widely considered impermissible Haram in Islamic finance due to several factors: Ldmountaincentre.com Review

• Riba Interest: CFDs often involve overnight financing charges rollover fees which are a form of Riba. Even if not explicit in the simulation, the real-world activity it mimics involves interest.
• Gharar Excessive Uncertainty/Risk: CFDs are highly leveraged products. This leverage amplifies both gains and losses, introducing an excessive and unacceptable level of uncertainty. One is trading on the price movement of an asset, not ownership, which adds another layer of contractual ambiguity.
• Qimar Gambling: The highly speculative nature of CFD trading, with its emphasis on short-term price movements and high leverage, often resembles gambling more than a legitimate trade of goods or services. It lacks tangible assets and productive economic activity.
• Lack of Tangible Asset Exchange: In Islamic finance, a transaction should ideally involve the exchange of tangible assets or clear benefits. CFDs do not involve the ownership or physical delivery of the underlying asset. You are merely speculating on its price.

Data and Statistics on CFD Trading:

• Reports from financial regulators, such as the European Securities and Markets Authority ESMA and the Financial Conduct Authority FCA in the UK, consistently show that a high percentage of retail CFD traders lose money, often upwards of 70-80%. This underscores the inherent risk and speculative nature. Source: ESMA, FCA publications on CFD trading risks.
• The global CFD market size was estimated at $10.5 billion in 2022 and is projected to grow, indicating the widespread engagement in this highly speculative activity. Source: Grand View Research.

The fact that Voyagemarkets.net provides the training ground for such activities means it is facilitating engagement in impermissible financial practices, even if indirectly through simulation.

Ethical Considerations and Transparency

Voyagemarkets.net does provide detailed “Terms of Use” and a “Privacy Policy” which are crucial for transparency, but these documents primarily address legal disclaimers and data handling rather than the ethical implications of the simulated trading itself.

Key points from their legal documentation:

• Disclaimer of Liability: The terms explicitly state: “THE INFORMATION, SOFTWARE, PRODUCTS, AND SERVICES INCLUDED IN OR AVAILABLE THROUGH THE SITE OR THE APPS MAY INCLUDE INACCURACIES OR ERRORS… THE COMPANY AND/OR ITS SUPPLIERS MAKE NO REPRESENTATIONS ABOUT THE SUITABILITY, RELIABILITY, AVAILABILITY, TIMELINESS, AND ACCURACY OF THE INFORMATION, SOFTWARE, PRODUCTS, SERVICES AND RELATED GRAPHICS CONTAINED ON THE SITE OR THE APPS FOR ANY PURPOSE.” This is standard legal boilerplate, but it emphasizes the inherent risk and lack of guarantee, even in a simulated environment.
• Arbitration Clause & Class Action Waiver: The terms include strong arbitration clauses and a class action waiver, which significantly limit users’ legal recourse. Disputes are to be resolved by arbitration in the Cayman Islands, and users waive their right to participate in class actions. This arrangement can be disadvantageous for users seeking redress.
• International Users: The service is “controlled, operated and administered by the Company from our offices in Colombia.” It explicitly states they “MAKE NO REPRESENTATION THAT THE INFORMATION AND MATERIALS ON ANY SITE OR APP… ARE APPROPRIATE OR AVAILABLE FOR USE IN OTHER LOCATIONS OTHER THAN THE LOCATION FOR WHICH THE SITE OR THE APPS ARE DIRECTED.” This highlights potential regulatory and legal ambiguities for users outside Colombia, and possibly the Cayman Islands.
• Data Sharing for Fraud Prevention: The Privacy Policy notes: “You explicitly consent to sharing your data by us and/or our affiliates with other proprietary trading firms or third parties for the purposes of detecting fraudulent, deceptive, malicious, or criminal behavior or any violations of our Terms or this Agreement.” While seemingly for a good cause, this broad consent for data sharing across “other proprietary trading firms” could be a concern for some users regarding privacy and data control.
• Biometric Data Collection: The Privacy Policy states: “We may collect certain biometric information about you, such as imagery of the iris, retina, fingerprint, face, hand, palm, vein patterns, and voice recordings… and keystroke patterns or rhythms, gait patterns, or rhythms, and sleep, health, or exercise data that contain identifying information.” They claim this is for “legal obligations” and “preventing fraud.” The collection of such sensitive personal data is a significant privacy concern for many, and its necessity in a “simulated trading” context is questionable.

Ethical gaps in transparency from an Islamic perspective:

The site does not address the Sharia compliance of the underlying financial instruments CFDs or the nature of profit/loss generation in the simulated environment.

While it’s “simulated,” it’s preparing individuals for a real-world activity that is ethically problematic.

There’s no mention of how to ensure the “education” provided aligns with ethical financial practices acceptable in Islam.

This omission is critical for a Muslim user seeking ethical alternatives.

Voyagemarkets.net Pros & Cons Focus on Cons for Ethical Reasons

Given the inherent ethical issues from an Islamic perspective, the “pros” of Voyagemarkets.net, primarily related to its utility for “funding evaluation firms” in simulating speculative trading, are outweighed by the fundamental impermissibility of the activity it facilitates. Therefore, we will focus on the “cons.” Veeagain.com Review

Cons:

• Facilitates Impermissible Financial Activities Riba, Gharar, Qimar: Even as a simulated environment, it trains and prepares individuals for CFD trading, which is generally considered impermissible in Islam due to its involvement in interest Riba, excessive uncertainty Gharar, and resemblance to gambling Qimar. The focus on leverage and speculation is a direct contravention of Islamic finance principles.
• No Sharia Compliance Assurance: There is no indication or mention anywhere on the website that the simulated trading environment or the underlying financial instruments CFDs adhere to Islamic financial principles. This lack of transparency on Sharia compliance makes it unsuitable for Muslim users.
• Privacy Concerns Regarding Biometric Data: The collection of highly sensitive biometric information raises significant privacy flags, especially when its direct relevance to a “simulated trading” service is not entirely clear, beyond “fraud prevention.”
• Arbitration & Class Action Waiver: The stringent arbitration clauses and class action waiver significantly limit user rights and recourse in case of disputes, pushing them into a specific dispute resolution framework in the Cayman Islands.
• Limited Transparency on “Funding Evaluation Firms”: While targeting these firms, there’s little detail about what these firms are, their regulatory status, or how they operate, which could be a concern for individuals associated with them.
• Potential for Misleading Training: By simulating highly speculative markets, the platform might inadvertently normalize high-risk trading behaviors without adequately emphasizing the severe real-world financial consequences and the impermissibility of such actions in Islam.
• Geographical Restrictions and Legal Ambiguity: The statement that the site is administered from Colombia and “may not be available in your country” and that they make “no representation that the information and materials… are appropriate or available for use in other locations” suggests potential legal and accessibility issues for international users.

How to Find Ethical and Permissible Alternatives to Speculative Trading

For those seeking to engage in financial activities while adhering to Islamic principles, the key is to avoid speculative instruments like CFDs, options, and conventional forex trading that involve Riba, Gharar, and Qimar.

Instead, focus on real economic activity, tangible assets, and transparent, interest-free transactions.

Key principles for ethical financial engagement:

• Asset-Backed Transactions: Investments should ideally be in tangible assets real estate, commodities, legitimate businesses or their ownership rights, not just price movements.
• Risk Sharing: Islamic finance emphasizes profit-and-loss sharing Mudarabah, Musharakah rather than fixed, guaranteed returns interest.
• Avoidance of Riba Interest: All transactions must be free from interest, both explicit and implicit.
• Avoidance of Gharar Excessive Uncertainty: Contracts should be clear, transparent, and free from excessive ambiguity or speculation.
• Avoidance of Qimar Gambling: Transactions should not resemble gambling, where outcomes are based purely on chance or highly speculative bets.
• Ethical Industries: Investments should steer clear of industries deemed unethical or harmful e.g., alcohol, tobacco, conventional banking, arms, pornography.

Steps to find ethical alternatives:

1. Educate Yourself: Learn the fundamentals of Islamic finance and the principles of permissible wealth generation. Resources from organizations like AAOIFI Accounting and Auditing Organization for Islamic Financial Institutions can be invaluable.
2. Seek Sharia-Compliant Screening: For public equities, use services or platforms that screen stocks for Sharia compliance. Many Islamic brokerage firms or apps provide this.
3. Consult Islamic Scholars: For complex financial decisions or business ventures, seek guidance from qualified Islamic scholars specializing in finance.
4. Focus on Real Economy Investments: Look for opportunities in real estate, agriculture, ethical manufacturing, or service industries that provide genuine value.
5. Utilize Halal Financial Products: Explore Islamic banks and financial institutions that offer Sharia-compliant savings accounts, financing, and investment products e.g., Sukuk, Takaful.

By adhering to these principles, individuals can ensure their financial dealings are not only profitable but also ethically sound and pleasing to Allah.

FAQ

What is Voyagemarkets.net primarily used for?

Voyagemarkets.net is primarily used by “funding evaluation firms” to provide a simulated trading environment.

This environment allows these firms to train and evaluate aspiring traders in a replicated market setting, covering instruments like Forex, Commodities, Indices, and Cryptocurrencies via CFDs.

Is Voyagemarkets.net a legitimate website?

Based on its detailed Terms of Use and Privacy Policy, Voyagemarkets.net appears to be an operational website offering services to its stated target audience. Itoolmax.com Review

However, its legitimacy from an ethical and Sharia-compliance perspective is highly questionable due to its facilitation of simulated CFD trading, which mimics activities generally considered impermissible in Islam.

Does Voyagemarkets.net offer real trading accounts?

No, Voyagemarkets.net explicitly states that it offers a “simulated trading environment” and provides “simulated market data.” It is designed for training and evaluation purposes, not for direct live trading with real money.

What types of financial instruments are simulated on Voyagemarkets.net?

Voyagemarkets.net facilitates simulated Contracts for Difference CFDs trading on a range of financial instruments including Forex major and minor pairs, Share CFDs large global companies, Crypto CFDs, Commodities & Metals spot gold, spot silver, and Indices popular cash indices like UK 100 and S&P 500.

What are the main ethical concerns with Voyagemarkets.net from an Islamic perspective?

The main ethical concerns stem from the fact that Voyagemarkets.net facilitates simulated CFD trading.

CFDs are generally considered impermissible in Islam due to their involvement in Riba interest through overnight financing, Gharar excessive uncertainty and speculation due to high leverage and lack of tangible asset exchange, and Qimar resembling gambling due to their highly speculative nature. Even in simulation, it normalizes and trains for these impermissible activities.

Does Voyagemarkets.net collect personal information?

Yes, Voyagemarkets.net collects various types of personal information, including identifiers name, email, financial information, demographic data, and even sensitive biometric identifiers like faceprints or voice recordings for account registration, fraud prevention, and service delivery, as detailed in their Privacy Policy.

Are there privacy concerns with Voyagemarkets.net’s data collection?

Yes, there are privacy concerns, particularly regarding the collection of biometric information, which is highly sensitive.

While they state it’s for “legal obligations” and “fraud prevention,” the broad scope of data collected including keystroke patterns, gait patterns, sleep/health data for a simulated trading platform raises questions about necessity and potential misuse.

Where is Voyagemarkets.net operated from?

Voyagemarkets.net is controlled, operated, and administered by the Company Voyage Markets SPC from its offices in Colombia, despite its legal terms being governed by the laws of the Cayman Islands.

What are the dispute resolution mechanisms on Voyagemarkets.net?

Voyagemarkets.net’s Terms of Use include a mandatory arbitration clause and a class action waiver. Dohop.com Review

Disputes are to be resolved through final and binding arbitration in Monroe County, Pennsylvania, or small claims court, with proceedings governed by the Federal Arbitration Act.

Users waive their right to participate in class action lawsuits.

Can I get a refund if I am dissatisfied with Voyagemarkets.net’s services?

The Terms of Use state that if you are dissatisfied with any portion of the site or its terms, your “sole and exclusive remedy is to discontinue using the Site or the Apps.” There is no explicit mention of refunds for dissatisfaction.

Does Voyagemarkets.net comply with GDPR for European users?

Yes, Voyagemarkets.net has an “Additional Information For European Residents” section in its Privacy Policy, which outlines its compliance with GDPR, including rights such as access, rectification, erasure, restriction of processing, objection to processing, and data portability for European data subjects.

How does Voyagemarkets.net handle data sharing with third parties?

Voyagemarkets.net may share personal information with affiliates, business partners, service providers, and crucially, “other trading platforms” for purposes including fraud detection, business administration, and marketing.

Users explicitly consent to data sharing for fraud detection with “other proprietary trading firms.”

What are ethical alternatives to using Voyagemarkets.net for financial endeavors?

Ethical alternatives include investing in Sharia-compliant investment funds, Halal Real Estate Investment Trusts REITs, ethical crowdfunding platforms for real businesses, direct agricultural or land investments, and supporting ethical consumer goods companies.

These alternatives focus on tangible assets, real economic activity, and avoid interest, excessive uncertainty, and gambling.

Does Voyagemarkets.net offer educational resources?

Yes, the website mentions providing “Expert Education for Business Operators” aimed at empowering them within the evaluation industry, though specific details on the curriculum or content of this education are not extensively detailed on the homepage.

Is high leverage promoted on Voyagemarkets.net?

Yes, the website explicitly states “High Leverage” as one of its offerings alongside “Low Spread” and “Fast Execution,” indicating its intention to simulate trading conditions typical of highly leveraged CFD markets. Leveluplegend.co Review

Can minors use Voyagemarkets.net?

No, the Terms of Use state that the Company “does not knowingly collect… personal information from persons under the age of thirteen” and “If you are under the age of eighteen, you are prohibited from the use of services and interactions with the Company.”

What specific trading platforms does Voyagemarkets.net provide access to?

Voyagemarkets.net provides access to cTrader Web App, Windows App, iOS App, Android App and Match-Trader Web App for its simulated trading environments.

Are there any specific consumer protections for U.S. residents mentioned?

Yes, the Terms of Use include specific provisions for residents of New Jersey and California, highlighting certain consumer rights and waivers.

For example, California residents agree to waive protections under California Civil Code Section 1542, while New Jersey residents benefit from limitations on certain liability disclaimers.

How often are the Terms of Use updated on Voyagemarkets.net?

The Company reserves the right to change the Terms “in its sole discretion” and encourages users to “periodically review the Terms to keep informed regarding any updates.” The last updated date mentioned in the document is March 2024.

What is the primary purpose of collecting biometric information by Voyagemarkets.net?

Voyagemarkets.net states that the primary purpose for collecting biometric information is to meet its legal obligations and has a “legitimate interest” in doing so, particularly for “preventing fraud” and ensuring user legitimacy.