Consider trading with WinsorFX.com? Is this broker a reliable broker? Read WinsorFX reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
Table of Contents
WinsorFX otherwise known as WinsorFX.com is an offshore brokerage with a lot of promises for forex traders. The forex company has its registered address in St Vincent and Grenadines.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
WinsorFX Minimum Deposit
WinsorFX deposit is specified $5 based on the website, which is fantastic if the broker was no a scam and a risk. In the case of Sharon, it’s not worth investing in this one.
In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, the broker mentions no payment methods, no withdrawal fees, or other fees for that matter.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
WinsorFX withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
WinsorFX offers no information about its trading platform. We have no idea what the platform is, and even if there is one. The broker did not allow us to register, since that was the chance to know the supposed platform.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
WinsorFX leverage can get up to 1:500. Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
What We Discovered about WinsorFX.com Broker
First of, WinsorFX states that it is based in Saint Vincent and the Grenadines. A quick search shows the broker is not licensed by the Financial Service Authority.
At the foot of the site, the brokerage provides a registered address in St. Vincent and the Grenadines. The institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
WinsorFX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
WinsorFX located at WinsorFX.com claims to appear like a trustworthy trading broker, however, we cannot hold their words for it. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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