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GreenWaveX

Marshall Islands|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://greenwavex.com

Website

Rating Index

Contact

+692 79651435998
support@greenwavex.com
https://greenwavex.com
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands 113035

Licenses

No valid regulatory information, please be aware of the risk!

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No restriction on the broker account. Support service provided by WikiFX

Single Core

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Disclosure

Danger

ID BAPPEBTI
2022-09-20
"Bappebti Blocks 760 Website Domains, Reminds of the Risk of Transactions in Unlicensed PBK Entities"
GreenWaveX
OctaFX
Globalanalytics

Contact number

English

+692 79651435998

Broker Information

More

Company Name

Green Wave X Limited

Company Abbreviation

GreenWaveX

Platform registered country and region

Marshall Islands

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away!
Previous Detection : 2024-02-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

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GreenWaveX · Company Summary

basic-information

General Information

Founded in 2022, GreenWaveX is a newly-established forex broker registered in Marshall Islands, offering its clients access to a series of trading instruments, such as currency pairs, commodities, indices, stocks and more. A total of six trading accounts are available on this brokerage platform and the maximum leverage that traders can use is up to 1:500.

Is GreenWaveX safe to trade with

GreenWaveX has disappointed us when it comes to regulations. This broker has been confirmed to be outside of the purview of any regulatory bodies. In this way, its regulatory status on the WikiFX website has been classified as “No License” and it receives a quite low score of 1.11/10.

Forex and CFD trading involving margins contains a high level of risk, and before you decide on which forex broker to use, it is advisable that you go to the WikiFX website to check out a brokerages regulatory information.

wikifx

Market Instruments

GreenWaveX claims that it offers diversified range of more than 300 trading assets. Different types of trading instruments, such as Foreign Exchange, a series of CFDs on Commodities, Indices, Cryptocurrencies, Stocks, and Precious Metals are all available through this brokerage platform.

Instruments

Account Types

A total of six account are available with the GreenWaveX platform: Standard, Islamic, IB, Green, ECN and NAIRA. The Standard account is perfect for novice Forex traders or those who only trade occasionally, with an initial deposit of $50.

If you're an experienced retail trader, you might want to try out the ECN Account that

offers low spreads.

The minimum deposits for these four trading accounts are: the Islamic account from $3,000, the IB account from $10,000, the GREEN account from $50,000, and the ECN account from $100,000.

A special trading account set by this broker, the NAIRA account, requires a quite low initial deposit of ₦10,000.

 Account

Spreads & Commissions

Spreads and commissions are set in the end by trading accounts. Spreads offered by the Standard account, the Islamic account, the IB account are relatively high, with the Standard account from 1.2 pips, the Islamic account from 1.3 pips, the IB account from 2 pips, while another three trading accounts offers relatively competitive spreads, with the GREEN account from 0.7 pips, the ECN account from 0.1 pips, and the NAIRA from 0.1 pips.

Leverage

When it comes to leverage, a key red flag with GreenWaveX is that it permits traders to use leverage of up to 1:500, which is significantly higher than the levels regarded appropriate by many regulators.

Since leverage can amplify gains as well as losses, it is important for traders to choose the proper amount that they feel most at ease.

Trading Platform

GreenWaveX only grants its IB trading account holders access to the Web MT4 trading platform, whilst traders with other accounts can only use a web-based trading platform.

Deposit & Withdrawal

There are several payment processor logos shown on the homepage of GreenWaveX website, including VISA, MasterCard, Bank Wire, USDT, and more. With further instruction on its deposit and withdrawal part, we have no idea what payment options work with this brokerage house.

deposit-withdrawal

Customer Support

The GreenWaveX official website is available on multiple languages. However, traders can only reach out to this brokerage house about any questions or concerns they may have about their accounts or their trading through an email it gives: support@greenwaves.com.

Or you can follow this brokerage on some popular social media platforms, such as Facebook, Twitter, Instagram, Linkedin, TikTok and Youtube.

Risk Warning

There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.

The information presented in this article is intended solely for reference purposes.

User Reviews

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FX1258585322
more than one year
I chose GreenWaveX as a broker for cooperation because they offer very good conditions and no commissions. As for me, this is one of the most reliable platforms on the market.
2023-02-27 17:30
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小罗罗
more than one year
A forex broker registered in the Marshall Islands without any regulatory license... Honestly, I can't think of a more dangerous company than this one. Maybe registered in Saint Vincent and the Grenadines?
2022-12-07 09:51
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