WCG Markets is not a reliable broker for traders even though it states offers that look good to be true. WCG Markets claims to be a business brand jointly shared by many companies, including:
1) WCG Markets Ltd is registered in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) with company number: 26087 BC 2020 and regulated by the Canada FINTRAC with an MSB license.
2) Wenchuan Global Ltd is registered in the Companies House of the United Kingdom (CH) with the company number 11019948.
First, we did not find any match results to the company name or the company number in SVG FSA. Besides, SVG FSA is not a regulatory body that regulates entities engaging in forex services. Second, Canada FINTRAC does not regulate forex too.
Third, we indeed find a match result to Wenchuan Global Ltd in CH, but CH is the United Kingdom's registrar of companies that has no legit rights to regulate any forex activities. Having registration does not mean having any regulation. As per United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK Financial Conduct Authority (FCA). However, we did not find any match results to Wenchuan Global Ltd or WCG Markets in FCA.
The truth is that WCG Markets is not under valid regulation to do forex by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
WCG Markets is not a reliable broker for traders even though it states offers that look good to be true. WCG Markets claims to be a business brand jointly shared by many companies, including:1) WCG Markets Ltd is registered in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) with company number: 26087 BC 2020 and regulated by the Canada FINTRAC with an MSB license.2) Wenchuan Global Ltd is registered in the Companies House of the United Kingdom (CH) with the company number 11019948.First, we did not find any match results to the company name or the company number in SVG FSA. Besides, SVG FSA is not a regulatory body that regulates entities engaging in forex services. Second, Canada FINTRAC does not regulate forex too. Third, we indeed find a match result to Wenchuan Global Ltd in CH, but CH is the United Kingdom's registrar of companies that has no legit rights to regulate any forex activities. Having registration does not mean having any regulation. As per United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK Financial Conduct Authority (FCA). However, we did not find any match results to Wenchuan Global Ltd or WCG Markets in FCA.The truth is that WCG Markets is not under valid regulation to do forex by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
