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WallwadeFX

Operating status: SCAM

Website: https://wallwadefx.com/

Broker violations and abnormal records
  • Aug 14, 2022 BrokersView has Reviewed that WallwadeFX is an Unregulated Forex Broker

    WallwadeFX is not a reliable broker for traders even though it states offers that look good to be true. WallwadeFX claims to be a reliable firm while presenting no details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.

    Besides, WallwadeFX shows its company address is in the Canary Islands, a Spanish region. However, we did not find any match results to WallwadeFX in the Spain regulator Comisión Nacional del Mercado de Valores (CNMV). That means WallwadeFX is not an approved broker to offer financial services in Spain.

    What's more, by downloading its official trading platform, we found another company address in Indonesia. As per the information we hold, Indonesia does not have any regulatory body that regulates entities engaging in forex services.

    The truth is that  WallwadeFX is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    WallwadeFX is not a reliable broker for traders even though it states offers that look good to be true. WallwadeFX claims to be a reliable firm while presenting no details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.Besides, WallwadeFX shows its company address is in the Canary Islands, a Spanish region. However, we did not find any match results to WallwadeFX in the Spain regulator Comisión Nacional del Mercado de Valores (CNMV). That means WallwadeFX is not an approved broker to offer financial services in Spain.What's more, by downloading its official trading platform, we found another company address in Indonesia. As per the information we hold, Indonesia does not have any regulatory body that regulates entities engaging in forex services.The truth is that WallwadeFX is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
  • Nov 27, 2022 BrokersView has found that WallwadeFX is not working

    BrokersView found the domain "https://wallwadefx.com/" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

    BrokersView found the domain "https://wallwadefx.com/" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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