Why Winpips FX broker is not reliable! Here is what you must know about this broker winpips.com.kh. See reviews to know all about it.
This post promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Winpips FX?
Winpips FX otherwise known as winpips.com.kh is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
The broker is completely anonymous. It has not revealed any legal information about itself or its alleged registration address.
Furthermore, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
Is Winpips a Scam Forex Broker?
First of, Winpips FX has not revealed any legal information about itself or its alleged registration address. The absence of any credible data about this broker’s identity is quite worrisome to be honest, as we don’t actually know who stays behind it.
There’s no corporate background, so this page happens to be virtually anonymous.
This shady company is not under anybody’s supervision – and they are certainly not obligated to treat you fairly.
Following this, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
Remember that reputable brokers would never hide such essential details, just the opposite – they always display all the data regarding their identity and regulation straight away.
Won’t you rather trade with a licensed and legit 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, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Does Winpips FX Have Account Types?
Winpips does not specify its trading account for clients. The broker provides no information on leverage and spreads.
There is no information about the minimum deposit this broker requires.
In comparison to that, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
Winpips did not say which deposit methods it accepts and transaction fees.
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!
Winpips Provides What Trading Software?
Winpips offers easy Demo account for traders. Regrettably, this broker does not provide credentials for logging into a trading server. Following this, we were unable to test the software used by Winpips, the MetaTrader 4 (MT4) 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.
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.
Winpips Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that winpips.com.kh 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
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
Conclusion:
Winpips FX broker appears like a reliable trading platform, however, you should not take the words they say and the attractive website layout. By all appearances, the broker lacks one important indicator – its license. Thus, traders should steer clear from an unlicensed broker as its likely run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
Was the information helpful? Please share with us your experience in the comment section below. Thank you!
Heard of Mft-trade, Actionmarkets , Betail-capital, Forextimeprime brokers? Read Details
