WavFx Review: Scam Behind WavFx
There are numerous scammers and shady companies on the forex and CFD market that target traders. WavFx, operating as WAVFX TRADING INDEX LIMITED, is one such company. The article explores the issues and warning signs related to WavFx and provides a thorough analysis based on the data at hand and user comments. Let us clarify our inclusion of it on our list of scam brokers 2024.
Website: https://wavfx.com/
Website Availability: Yes
Official Address: Griffith Corporate Centre, Kingstown, S.t Vincent and the Grenadines
Regulation: No Regulation
Warned By: Not Recommended By Review Website Like Fraud Complaints
Domain Status:
- Domain Name: WAVFX.COM
- Registry Domain ID: 2625613593_DOMAIN_COM-VRSN
- Registrar WHOIS Server: whois.hostinger.com
- Registrar URL: http://www.hostinger.com
- Updated Date: 2024-06-12T19:34:00Z
- Registry Expiry Date: 2025-07-09T18:49:43Z
Company Overview
WavFx describes itself as a 2015-founded FX and CFD broker with UK registration. It claims to provide leverage up to 1:2000, more than 100 traded financial products, and floating spreads on the well-known MT5 trading platform starting at 0.0 pips. Furthermore, WavFx offers six distinct live account kinds in addition to a round-the-clock, multilingual customer care center.
Regulatory Concerns
WavFx’s regulatory status is a serious red flag. To lawfully offer financial services, brokers doing business in the UK need to hold a Financial Conduct Authority (FCA) authorization. However, according to the FCA registration search for WavFx, the broker is not approved by them. No regulation raises worries about the operations’ safety and transparency. WavFx.com is not subject to strict regulatory requirements in the absence of FCA regulation, making investors susceptible to possible fraud.
Customer Reviews and Experiences
The reviews and feedback left by customers on websites such as Trustpilot expose the real face of WavFx. The bulk of reviews, with a low rating of 2.1, indicate fraudulent activity. One especially alarming review describes how one investor invested $16,000 and made a profit that exceeded 100%. However, they received nothing when they attempted to withdraw their money. The reviewer labeled the firm an obvious scam and pointed out that it was not registered, advising others not to invest.
Similar narratives are told in other reviews. Customers claim that WavFx officials have called them and urged them to invest. The site looks real at first, with some revenues displayed. However, withdrawal requests are either turned down or rejected when they are made. According to WavFx.com reviews, the site is fraudulent, with earnings and accounts made up to trick investors.
These repeated concerns highlight serious problems with WavFx’s business practices, especially about withdrawals and the legitimacy of its trading platform. The many references to fictitious accounts and unfulfilled withdrawal requests point to a planned fraud campaign targeting investors.
WavFx Review – Conclusion
In summary, a scam company is depicted by the absence of FCA authorization and the numerous customer complaints regarding false accounts and withdrawal problems. To protect their interests, prospective investors are advised to avoid WavFx and look for respectable, registered brokers.
Victim of WavFx Scam? Get fund recovery
Watch out for scams such as those involving cryptocurrency scams, forex trading scams, romance scams, pump and dump schemes, Ponzi schemes, investment fraud, phony trading platforms scams, phishing attacks, and binary options scams, among others.
If you have already been scammed by WavFx, act quickly to get your money back from scams. Even though the procedure might be difficult, following the right procedures and being patient can increase your chances of getting your money back.
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Note: The WavFx review is influenced by existing reviews online. We are not responsible for any legal actions taken by any entity favoring WavFx.