FxWinning is an intriguing broker with some unique characteristics. Their website’s default language is Spanish, and they assert to be registered in Hong Kong. Interestingly, their Client Agreement states that US law governs their operations. If you are uncertain about their safety as a trading partner, we are here to provide assistance. In this FxWinning review, you will discover all the essential information you need to make an informed decision about trading with FxWinning.
Website – https://fxwinning.net/, https://www.fxwinning.pro/
Website Availability – Yes
Address – Hong Kong and Saint Vincent and the Grenadines
Warning – Comisión Nacional del Mercado de Valores (Spain), Autorité des marchés financiers (France)
Regulated – Unregulated
Domain Age –
| Domain Name | fxwinning.net |
|---|---|
| Date Registered | April 02, 2020 |
| Domain Age | 3 years, 3 months, 17 days, 19 hours, 17 minutes, 23 seconds |
Is FxWinning legit or a scam?
Fx Winning presents itself as a secure and regulated broker, prompting us to verify its registration. Upon investigating their website’s information, we discover that this broker operates from Hong Kong, Cyprus, and St. Vincent and the Grenadines. Notably, they claim to be in the process of obtaining a license from the Cyprus Securities and Exchange Commission (CySec) by registering in Cyprus.
However, our search of the CySec register, the official regulatory body for forex brokers in Cyprus, does not list the name of this broker. Subsequently, we proceed to check the register of the Hong Kong Securities and Futures Commission (HKSFC), the official regulatory body for forex brokers in Hong Kong. Once again, the name of this broker is absent from the register, raising concerns about its claimed registration and regulatory status in both jurisdictions.
Warnings issued against FxWinning
FxWinning received a warning from the Comisión Nacional del Mercado de Valores (CNMV) for offering investment services without proper authorization. Additionally, the Financial Authority (Autorité des Marchés Financiers, AMF) included FxWinning in its warning list as an unauthorized company involved in forex activities. These regulatory warnings indicate that FxWinning lacks the necessary authorization to provide financial services, raising serious concerns about its legitimacy and compliance with regulatory standards.
FxWinning Review: Trading Platform
FxWinning provides its clients with access to two leading trading platforms – MetaTrader 4 and MetaTrader 5. Nevertheless, before accessing these platforms, clients are required to make a deposit. As we were hesitant to contribute to a potentially untrustworthy broker, we chose not to open an account with them. It’s important to note that the quality of a trading platform is closely linked to the reliability of the broker, and as we have already witnessed, this broker falls short in terms of trustworthiness. Therefore, exercising caution when selecting a broker is essential to safeguarding your investments and trading experience.
FxWinning Review: Deposit and Withdrawal Methods
FxWinning provides both live and demo trading accounts, but the minimum initial deposit information is not specified. However, the deposit method is restricted to cryptocurrencies, which may not be the ideal choice if you plan to seek a chargeback at any point.
Furthermore, the company has contradictory policies regarding inactive trading accounts. One part of the document states that if an account remains inactive for 90 days, the company will close the account and donate the remaining balance to charitable purposes. On the other hand, another section mentions that if an account stays inactive for 6 months, the company will impose a monthly fee of 5 EUR/USD/GBP. These discrepancies in a legal document raise serious doubts about the credibility and trustworthiness of this broker.
FxWinning Review: Conclusion
If you have unfortunately become a victim of a scam, whether it’s related to FxWinning or any other unscrupulous broker, there is a chance to take action and seek recourse. You can file a complaint against these deceitful entities. At the Scam Bitcoin website, our mission is to support victims in their endeavors to recover their funds. By filling out a complaint form on our platform, our experts will offer a free consultation to help you navigate the fund recovery process. Don’t hesitate to seek help and take steps towards reclaiming your funds with our assistance.
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