W2forex Review: W2forex.com Unregulated Company

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W2forex Review
  • Fund Safety
  • Regulation
  • Proof of Payment
0.5

Summary

W2forex is not reporting its trading activities performance to the financial bodies. Therefore, the entity can easily manipulate the trading results. They may claim clients have lost funds to refuse to process the withdrawal requests. 

W2forex does not provide investment services to citizens of the USA, Turkey, UAE, and any other country with similar jurisdiction. They leave investors with the task of searching if their government allows them to trade with the firm. This is not how things work. An investment company’s responsibility is to adhere to the set rules. 

W2forex Review, W2forex Company

The broker has many red flags, but their lack of regulatory form is the main reason to avoid them. Nonetheless, the entity assures customers of an easy trading process. Customers will also enjoy tight security. Offshore firms will say anything to make people invest. 

W2forex requires clients to submit personal data. Never share your proof of identity and proof of address data with unknown people. That is how your identity will be stolen and used for criminal activities. The SSL certificate and DDoS do not protect you from scammers.

Ensure that you are dealing with reputable licensed forex trading companies. You will enjoy better rewards while enjoying peace of mind. These brokers operate per the book. The financial bodies monitor their activities. You can therefore trade in confidence.

W2forex.com Review

W2forex claim it uses the latest technology. Clients can expect advanced tools that will contribute to their success. The venture allegedly gets its liquidity from reputable financial providers. Sadly, there is no proof to support these claims. This entity would use false info to trap more people.

The company admits it does not work with a reputable bank to segregate customers’ accounts from theirs. The law requires all investment schemes to work with top tier 1 banks. This helps to combat fraudulent activities. The brokers cannot misuse clients’ funds. 

W2forex promises financial freedom to clients. However, making many as easy as these scammers’ projects would mean no need to work. Everyone would be busy trading and earning unimaginable returns. It takes work to become a successful trader. You must gain relevant skills and practice to perfect the trading art. 

Offshore companies mainly target naive novice traders. They will convince you to deposit cash with them, only to steal everything. The safety of your money and data should always be your main priority. Brokers operating discreetly will not help you achieve your goals. 

W2forex.com Trading Conditions 

W2forex is trading forex, cryptos, indices, stocks, and commodities. The venture allegedly has both the MT4 and MT5 trading software. These are some of the best interfaces in the market. Investors can utilize the EAs to trade automatically. Additionally, you can customize scripts and use the economic calendars.

You will also have access to multiple markets. The problem is this broker does not have a trading platform. The available links are dormant and inaccessible. Without a trading interface, it would be impossible to invest.

W2forex.com Review, W2forex.com Features

Another shortcoming is that W2forex does not have information on the spread. This is essential data that all companies must provide. The average market standard is 1.5 pips. Offshore firms feature tight spreads and ask for massive commissions. It is, therefore, good to know what you are signing up for. 

The available leverage is 1:200 to 1:400. The limit is above what the regulatory bodies authorize. High cap translates to high returns, but it is best to understand this is a double-sided sword when taking high leverage. You will either make profits or losses. Novice traders should trade with lower cap leverage to avoid losing more cash. 

Withdrawal and Deposit 

W2forex lists credit cards, wire transfers, and cryptocurrency as payment methods. Sadly, we cannot verify the above techniques are indeed what is available. Scammers use methods that limit customers from issuing a chargeback. 

The most likely option will be wire transfer and crypto payments. These two help fraudsters conceal their identity. We are unaware of the minimum amount customers can cash out. We do not know if there are applicable charges.

W2forex does not care about the well-being of customers. Investing with the firm will automatically lead to huge loose. The scheme is unprofitable and shady. There is a higher chance the venture will disappear with all your money.

Contact Details and Customer Support 

W2forex office is at St Vincent and the Grenadines. Customers with a query can reach support via email or phone. There is no customer feedback. Therefore, we do not know the kind of customer support experience to expect. 

What usually happens is scammers will be engaging and friendly at the initial stages. Once you invest your money and request a withdrawal, the company drastically changes its attitude. The sales reps will put you on hold, mistreat you and become rude. 

The cold treatment will go on, and if you become a nuisance, they will blacklist your number. The email will also go unread. W2forex’s only interest is the money you deposit. Do not expect professional services from the broker. Choose companies that existing clients endorse. 

W2forex Regulatory Status

Saint Vincent and the Grenadines regulatory body did not oversee financial brokers’ operations. This was after many people lost money to scammers claiming to be authorized by the local authority. Therefore, be cautious of entities based in this area. 

W2forex lacks a license. There is no authority overseeing their trading activities. Regardless, we have several genuine offshore ventures. These are brokers that have been in the market for years. Its main focus is to offer competitive services in Africa and the Asian market. The companies have survived the volatility.

They also do not compromise the safety of traders. Unfortunately, we cannot say the same thing for W2forex.com. The scheme is operating independently. They have not met the regulatory bodies’ capital requirements. Hence, there is no proof the firm can survive the market volatility.

There are many benefits of trading with a regulated platform. You will enjoy trading in a safe environment. The trading conditions have less risk compared to those of unregulated ventures. You will also trade confidently, knowing you can rely on the entity for long-term services. Scammers exit the market unceremoniously, leaving customers high and dry.

W2forex.com Fund Safety 

The company lacks transparency. Anonymous brokers pose a great danger to clients’ fund safety. You will hardly know the person handling your funds. They may be incompetent or unqualified. It is impossible to track down your money once the scheme closes down its business. 

There is also a lack of trading proof. W2forex is not reporting its trading activities performance to the financial bodies. Therefore, the entity can easily manipulate the trading results. They may claim clients have lost funds to refuse to process the withdrawal requests. 

Investors will also not receive negative account balance protection. You could lose more money than your initial deposit. The platform could also change its terms and conditions overnight without your knowledge. Shady offshore firms look only after themselves. 

Final Verdict 

W2forex will leave you empty-handed. The broker location is a major drawdown. There is also no track record proving the entity is worth your time. The platform does not put the security of customers into consideration.

Here is a list of better forex companies. These are transparent and regulated platforms. You will enjoy better trading services while knowing what to expect. You can also check the performance report of the venture. Additionally, you can read customer feedback to understand what to expect.

 

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