FxWinning is an online forex broker that claims to offer a wide range of trading services, including spreads from 0.0 pips, leverage up to 1:500, and a variety of trading platforms. However, there are a number of red flags that suggest that FxWinning is a scam broker.
Company Overview
FxWinning is a relatively new broker, having been founded in 2021. The company is registered in St. Vincent and the Grenadines, a well-known offshore tax haven. This scam broker is taking their scam level to a new level. They closed their previous website in June 2023 and opened a new website with the same name, why?
The closed website:
The New website:
Does Fxwinning Have Any License?
No, FxWinning does not have any license from any reputable financial regulator. This is a major red flag, as it means that the broker is not subject to any oversight or regulation. This makes it more likely that the broker will engage in fraudulent or unethical practices.
Is Fxwinning Regulated By Any Authority?
Pros and Cons
Pros:
- Spreads from 0.0 pips
- Leverage up to 1:500
- A variety of trading platforms
Cons:
- Unregistered and unregulated
- No customer reviews
- High withdrawal fees
How Does Fxwinning Reach To Their Prey?
FxWinning targets its victims through a variety of methods, including:- Cold calling: FxWinning representatives will cold call potential victims and offer them the opportunity to make a lot of money through forex trading.
- Online ads: FxWinning advertises its services on a variety of websites, including social media and search engines.
- Fake testimonials: FxWinning uses fake testimonials to give the impression that it is a legitimate and profitable broker.
Technical Details
Minimum Deposit:
The minimum deposit requirement for FxWinning is $250.Trading Platform:
FxWinning offers a variety of trading platforms, including MetaTrader 4 and MetaTrader 5.Spread:
The spreads offered by FxWinning are variable, but they can be as high as 1.5 pips.Leverage:
The leverage offered by FxWinning is up to 1:500. This means that a trader can control a position that is 500 times the size of their deposit.Packages and Products They Offer
FxWinning offers a variety of packages and products, including:- A standard account with a $250 minimum deposit
- A VIP account with a $ 5,000 minimum deposit
- A demo account for practice trading
Withdrawal and Deposit Method
FxWinning offers a variety of withdrawal and deposit methods, including credit cards, debit cards, and wire transfers.What Do Their Previous Traders Say?
There are no customer reviews of FxWinning on any reputable website. This is a major red flag, as it suggests that the broker is not trustworthy.Summing Up- Why Should Not You Trust Fxwinning
There are a number of reasons why you should not trust FxWinning:- The broker is unregistered and unregulated.
- There are no customer reviews.
- The withdrawal fees are high.
- The spreads are high.
- The leverage is high.
- The broker has been accused of being a scam.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with FxWinning, you can contact a financial advisor or a lawyer who specializes in forex trading fraud. You can also file a complaint with the Financial Industry Regulatory Authority (FINRA).Along with these, you can also contact us to get a free consultation and recovery service recommendations to get help in recovering the lost funds.File A Complaint Against Scam Broker's
Final Thoughts
FxWinning is a scam broker that should be avoided. If you are considering trading with FxWinning, we request you reconsider. There are many legitimate forex brokers out there that offer better trading conditions and customer service.
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