Winvestock Review: Risky Broker to Invest Your Money
Winvestock Review: Risky Broker to Invest Your Money
When Winvestock tries to persuade us that it is a trustworthy forex and CFD broker, it fails miserably. Even a brief examination of this website exposes a number of irregularities. A closer examination of the facts reveals that this is only a fraud.
In this Winvestock review, we’ll examine the warning indicators of a scam to assist you to spot other dishonest brokers who employ similar tactics.
Winvestock Review – Who Is Winvestock Brokers?
Although Winvestock presents itself as a well-known global provider of financial services offering a variety of investment products, it is really just another offshore broker out to con people out of their hard-earned money.
Additionally, a professional broker’s website should have clear and comprehensive information about the business that owns and runs it, its location, and the regulatory frameworks to which it is subject.
Winvestock withholds information about the company that controls this website. No corporate name is included in the Terms and Conditions either.
And to make matters worse, “Example-4” is used frequently on the website and in the documentation in place of a company or brand name. This demonstrates how incomplete the Winvestock website actually is.
Is Winvestock a Reliable Broker? Fund Security and Regulation
Winvestock claims to be based in Sq. Belgium, 1000 Bruxelles, de Meeûs 35.
Of course, this is not the truth. This is so because Belgium is an EU member. Therefore, to offer their clients safe trading, brokers who seek to operate there must abide by a set of policies. One of them is a limitation on the amount of leverage that retail clients may use, and Winvestock does not impose such a restriction.
It is obvious that the address is either bogus or does not accurately represent the company because it has a 1:100 leverage, which is more than three times the 1:30 maximum in the EU. As one can expect, lying about one’s licensing is a huge warning sign. However, any broker that is not closely regulated is no good than Winvestock and must be avoided.
Here are some examples of unauthorised scam brokers:
Titan CFD: Your funds are not secure with Titan CFD trading platform because they are an unregulated brokerage company.
TriumphFX: Because they operate without a license, stay away from investing with this dishonest broker.
Kiplar: Your money is not protected from them because Kiplar is an unregulated brokerage.
Offshore brokers frequently operate with the primary intent of scamming you. This is possible given that unregulated companies like this are free to receive your funds and then swindle them, frequently taking everything they can.
An offshore scam broker still puts the client’s investment at risk even if there is no evidence of fraud because these companies lack the financial and leadership capacity to compete in the market.
Winvestock Trading Software Available
Unsurprisingly, Winvestock falls short of its promise to provide MetaTrader 4 (MT4), one of the most well-liked trading platforms in the market. The basic online platform, not the MT4 browser version, is all you will have access to after the account registration.
It lacks automated trading as well as other more complex trading options seen on platforms like Metatrader 5, like automated trading. It can execute pending orders and offer basic TA tools, such as indicators, to the user, but that’s about it.
The lack of broker regulation is, once more, the main problem in this situation. Without a license, it is quite likely—indeed, very likely—that the company has already stolen your money, and the trading activity depicted on its platform is fake.
Other unlicensed businesses frequently engage in this, thus you need a trustworthy broker with a trustworthy platform to provide.
Accounts Types Offered at Winvestock
There are five different account types offered by Winvestock: Basic, Silver, Gold, Platinum, and Diamond.
The Basic plan starts at 250 USD, although you could register a starter account with many authorized brokers, including some of the top names in the sector, for a far lesser sum.
Deposit and Withdraw Methods at Winvestock
Winvestock claims that wire transfers, credit cards, and a number of e-platforms are accepted for deposits and withdrawals. However, Winvestock’s deposit menu had no available selections at the time this article was being written.
For bank wires, $/£/€ 100 is the required minimum withdrawal amount. For all other payment methods, the minimum withdrawal is $/£/€ 50. However, it is highly unlikely that you’ll be able to get back your money.
How Does The Scam Work?
Scammers post a lot of misleading advertisements online. By attracting people, they hope to rob as many people as they can.
They will call you straight away and make any promises necessary to convince you to make a deposit with them as soon as possible once you click and provide them with your phone number and email address. Most con artists are adept manipulators, and before you know it, they’ll ask you for the details of your bank account to facilitate the transaction.
Never reveal this information if you don’t want to get in trouble. Identity theft is another possibility that could happen and cause a lot more problems.
Scammers will gradually ask for more money from you regardless of the results of your transactions. They would persuade you to increase your investment in order to make up for any losses you might have experienced in the market.
They would convince you to invest additional money if your trade was profitable, which would increase your profits.
The moment you ask for a withdrawal, issues start to appear. Scammers will say and do anything to frighten you away, including demanding money if you want to withdraw. The scam artists will pester you with requests for deposits on a continual basis.
Since real firms won’t phone you and ask you to make a deposit, if someone forces you into investing, it’s certainly a scam.
Victim of Fraud? Here’s What To Do
After changing your banking passwords, uninstall any remote access apps that the con artists talked you into installing. If you use a program like AnyDesk or TeamViewer, they may have tricked you into believing they can help you with platform problems or even trading, but in reality, all they want is access to your financial accounts so they can steal more money.
Make sure you inform your bank about the fraud.
You can also ask for a chargeback if you made your deposit using a Visa or MasterCard since both card issuers allow such requests up to 540 days after the transaction.
You can also reach out to sites like Global Fraud Protection. Global Fraud Protection may be able to help you if you have never submitted a chargeback and are unsure of where to begin or how to present your case to your bank or credit card issuer.
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