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Suspicious Regulatory License
Suspicious Scope of Business
High potential risk
|Risk Management Index||0.00|
No valid regulatory information, please be aware of the risk!
GENERAL INFORMATION AND REGULATION
WB Forex originated in 2019 with five principals dedicated to integrity in economic and financial consulting. Through gaining experience in various economic periods, their team are able to identify the best opportunities whether they are in good times or bad times. Good times provide growth in their portfolio and bad times, despite the potential negative effects, can provide opportunities.
WB Forex is an established ECN forex broker serving both individual and corporate clients. They offer to all of their customers a comprehensive range of trading options, WB Forex technical support, and consulting services, with the goal of making the trading process efficient, hassle-free, and above all highly profitable for you. From new account registration to money withdrawal, they make a responsible customer service on of their priority.
WB Forex claims to be registered and incorporated in Republic of Palau to provide the best standard of broker services and security. They claimed that their business is conducted in line with local and global regulations, meaning that their customers can feel secure with us. The right approach is necessary for the right outcome. WB Forex approaches work by applying its external knowledge to your organizations internal way of doing work.
They know that in order to maximize the potential of success for your company they need to shape our expert advice in a way that applies to your way of doing business. This allows them to create rich relationships with their clients.
But unfortunately as Financial Regulation is extremely important in the financial markets, WB Forex failed to provide any legal authorised license. And therefore they are not regulated.
WB Forex is exactly the type of broker you should never trust. Their website only has an aura of legitimacy at first glance – within minutes, you will find out that it is not possible to set up an account or gain any sort of relevant information through that website.
ACCOUNT AND LEVERAGE
WB Forex offers two types of accounts, both of them being a little different from what you would usually expect when it comes to the account types offered by a small broker. They claim to be able to open an ECN account – such accounts grant you direct market access and allow you to see how your offers bring about changes on the market. This is something only top brokers could actually offer you and we have no doubt there is no truth to WB Forexs proposition. The minimum deposit or spreads were not specified but the leverage is said to be 1:100. This is a lot – consider the fact that the leverage allowed in Europe and Australia is currently 1:30. It would be better for you to stick to lower leverage rates if you are still new to trading. High leverage is tempting because it leads to the possibility to make much bigger offers than you would be able to make on your own. This increases the profit you can potentially turn but it is risky – a leverage of 1:100 also increases the possibly of losing much harder than you would have otherwise.
The other type of account WB Forex offers is a PAMM account. Such accounts enable you to deposit a certain amount of money and let another person manage your account and decide how to trade. One such manager can manage multiple accounts at the same time. We don‘t need to explain why letting someone like WB Forex assign a manager to your account would be an awful idea. You won’t be able to earn any money this way because the scammers will probably make sure your account is emptied in no time.
TRADING PLATFORM AVAILABLE
There was some problem with the website so we could not confirm the trading platform used by WB Forex and they didn't establish what kind of platform they use either. Supposedly, you can trade with ‘the world’s best trading platforms on your desktop or mobile device so this might as well be MetaTrader 4 or MetaTrader 5 but there is no way we can be sure of that. We would advise you to look up regulated brokers offering MT if you are interested in that software.
DEPOSIT AND WITHDRAWAL
No information was available on deposit or withdrawal methods or additional fees. We looked through the Terms and Conditions but WB Forex barely gave any useful data on these topics there. And besides, it is an awful idea to deposit with an anonymous offshore broker like WB Forex so make sure to look up a list of licensed brokers and choose one of them instead.
To contact their customer support or to let them know if you have a question, you can leave a comment or filling their online contact form, they can also be contacted through email. But no phone number was provided from their website.
Platform registered country and region
Phone of the company
P.O. BOX 1849, KOROR, PALAU 96940
Customer Service Email Address
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