WavFx, operating under the trading name of WAVFX TRADING INDEX LIMITED, claims to purportedly be a forex and CFD broker with registration in the United Kingdom. Despite offering benefits like an extensive selection of tradable assets, diverse account options, and opportunities for high leverage, it is crucial to emphasize that this broker conducts its operations without valid regulatory oversight. Read this complete WavFx review to know why we added this broker to our scam Brokers 2023 page.
Website – https://wavfx.com/
Address – 158 City Road, London EC1V 2NX
4MH Kingstown, St Vincent and the Grenadines
59PP 29V Nicosia, Cyprus
Warning – Not recommended by the review website like Scams Report
Domain Age –
| Domain Name | wavfx.com |
|---|---|
| Date Registered | July 09, 2021 |
| Domain Age | 2 years, 2 months, 17 days, 15 hours, 41 minutes, 54 seconds |
WavFx Review: Trading Assets
WavFx promotes its platform as granting users access to an extensive array of over 100 financial instruments encompassing various markets. These offerings include CFD trading options for 60 different currency pairs in the forex market, as well as opportunities to trade stocks, indices, precious metals, commodities, bonds, and cryptocurrencies.
WavFx Review: Trading Platform
In addition to providing demo accounts, WavFx asserts that it provides five distinct live trading account types: Basic, Classic, Advanced, Pro, and VIP, each with its respective minimum deposit requirements of $200, $2,500, $5,000, $10,000, and $50,000 which is higher than the market price.
Furthermore, they offer an Investor account without any specified minimum deposit limit and accommodate Islamic trading accounts. When contrasted with licensed brokers, it’s noteworthy that authorized brokers often permit the establishment of a starter account with a minimum deposit of as low as $100 or even less.
Is WavFx legit or a scam broker?
According to WavFx, the WAVFX TRADING INDEX LIMITED, which is listed with the Registrar of Companies for England and Wales (often referred to as Companies House), is the company that runs the website. But, this is concerning, we searched the Companies House website for this broker and were unable to locate any records that matched.
Furthermore, in order to lawfully offer financial services or products, brokers operating in the UK must get authorization from the Financial Conduct Authority (FCA). However, based on our review of the FCA registry, it appears that this broker is not under FCA authorization. This implies that there are actually no meaningful regulations governing WavFx.
WavFx is essentially unregulated by any authorities. It is extremely dangerous to entrust investor’s money to this broker because there are no legal safeguards in place to protect the money. Without a doubt, it is a scam.
WavFx Review: Dubious Claims
WavFx.com makes grandiose claims about its offerings, including access to a wide array of trading instruments and the promise of lucrative returns. While diversification of assets is common among reputable brokers, the extravagant promises of high returns must be approached with skepticism. The old adage, “If it sounds too good to be true, it probably is,” holds weight in the world of online trading.
Negative Reviews and Complaints
A closer look at online forums and review websites reveals a trail of user complaints and negative experiences associated with WavFx.com. Common grievances include withdrawal difficulties, unresponsive customer support, and concerns about fund security. These complaints serve as a cautionary tale for potential investors.
WavFx Review: Conclusion
In conclusion, this comprehensive WavFx review paints a concerning picture of WavFx.com. The lack of regulatory oversight, extravagant claims, phantom ownership, and negative user feedback collectively indicate the potential existence of a WavFx scam.
Before investing with any online trading platform, it is essential to conduct thorough research, verify regulatory compliance, and seek feedback from trusted sources. In the case of WavFx.com, the evidence suggests that it may not be a trustworthy or legitimate investment platform. As such, potential investors are strongly advised to exercise extreme caution and consider alternative, regulated options to safeguard their investments and financial well-being.
Taking action against scammers is a crucial step if you’ve been targeted by a scam, whether it’s WavFx or any other fraudulent scheme. Utilize our complaint form to officially report the incident, and you’ll be eligible for a free consultation with one of our experts who can guide you through the process of recovering your funds.
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Note: The information provided in the above WavFx review is derived from existing web WavFx reviews. Please be aware that we cannot be held liable for any legal action taken by WavFx company. If you have any inquiries or concerns, kindly reach out to us via email at admin@scamsreport.net.