Is FxWinning Legit or a Scam?
No, this broker is not only unlicensed but a confirmed scam due to blacklists.
What is FxWinning?
FxWinning presents itself as an online trading platform, offering various financial instruments such as forex, commodities, and cryptocurrencies. However, the legitimacy of this broker has come under scrutiny, prompting an in-depth investigation to uncover the truth behind FxWinning.
FxWinning Details
Before delving into the red flags and customer complaints, let’s take a closer look at the key details of FxWinning:
Broker status: | Unregulated Scam Broker |
Regulated by: | Not regulated |
Operating Status: | Active Blacklisted Forex Scam |
Known Websites: | https://www.fxwinning.pro/ https://fxwinning.net/ |
Blacklisted as a Scam by: | CMVM, Financial Commission, Finanstilsynet, AMF, FSMA, CNMV |
Owner: | N/A |
Headquarters Country: | Hong Kong (suspected) |
Foundation Year: | 2021 |
Online Trading Platforms: | MT5 |
Mobile Trading: | MT5 |
Minimum Deposit: | $100 |
Deposit Bonus: | Not available |
CFD Trading Option: | Not available |
Crypto Asset Trading: | Not available |
Available Trading Instruments: | Forex, Metals, Indices |
Maximum Leverage: | N/A |
Islamic Account: | Not available |
Free Demo Account: | Not available |
Accepts US clients: | Yes |
Global Fraud Protection Experts’ Verdict: | Avoid this blacklisted scam at all costs! |
Deposits and Withdrawals
One of the primary concerns with FxWinning revolves around its deposit and withdrawal processes. Many users have reported difficulties in withdrawing their funds, encountering delays and unresponsive customer support. Additionally, the minimum deposit requirement of $250 is relatively high, especially for a broker with questionable credibility.
Account Types
Based on the information gleaned from the user area and limited website details, it appears that there are no personalized account types. Even though it was obviously bogus, the duplicate domain was at least that diligent in its attempt to promote different bundles.
Specialized account kinds for a range of traders, their investing tastes, and their purchasing power are not available on Fxwinning.pro. Additionally, the broker anticipates fast deposits into the account you open, which is automatically designated as a live trading account. That also suggests that there isn’t a Demo at all. The minimum deposit for wire transfers is $1,000; it is $100 for single account types.
Red Flags and Warning Signs
This anonymous company, FxWinning, is thought to be based in Hong Kong; their TOS references a US court as the governing body, and their website is by default in Spanish.
We would like to inform you right away that they are not included in any of the regulated entities’ databases. We verified this by looking through the registers of the SFC, NFA, FCA, ASIC, and CySEC.
Due to the controversy surrounding FxWinning’s unlicensed sales of goods and services, multiple agencies have placed this company on a blacklist:
- CNMV
- The Financial Commission
- FINANSTILSYNET
- AMF
- FSMA
- CMVM
Customer Complaints and Negative Reviews
The online landscape is rife with customer complaints and negative reviews directed at FxWinning. Traders have shared their harrowing experiences, detailing issues with withdrawal requests being ignored, unexplained account closures, and an overall lack of professionalism from the broker.
Got Scammed by FxWinning? We Help Victims!
If you have fallen victim to FxWinning’s deceptive practices, you are not alone. Our team is dedicated to assisting victims in seeking recourse. Contact us for support and guidance on recovering your funds.
In conclusion, the evidence compiled during this review strongly suggests that FxWinning is operating as a potential scam broker. Traders are advised to exercise extreme caution and consider alternative, reputable options to safeguard their investments and financial well-being. Remember, thorough research and due diligence are crucial when choosing a broker to ensure a secure and transparent trading experience.
If you’ve experienced financial losses with companies like Venus4T, HeroFX, or FameEX, please report it using the form below.
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