Table of Content
FewaTrade Review – Who Is Behind FewaTrade.Com?
Table of Content
FewaTrade Review, We wouldn’t be surprised if you were left perplexed to the max when you saw the website of this fraudulent broker. There’s so much misleading information. Obviously, the bogus website is not trustworthy at all but the mastermind behind it, even less. Therefore, it’s our job in the FewaTrader Review to warn you about all the dangers arising from this scammer.
Understanding the underlying errors associated with basic aspects of trading is key here. Furthermore, a closer look at the broker’s illicit status will give you a better picture. Sit back, and allow us to start digging into the dark past of FewaTrade and its vile plot to defraud people.
|Regulation||Unregulated Scam Broker|
|Headquarters||100 William St New York, NY 10038 USA|
Is FewaTrade Legit or a Scam Brokerage?
Dear God, where do we even start here? First of all, when a broker is this shady, then there’s no reason whatsoever to invest. On the home page, the unscrupulous fraudster says you can “buy and sell the underlying asset on Axos Trade FX,” which is the first red flag. We thought this was FewaTrade, not Axos Trade FX.
As for the address provided, allegedly FewaTrade does business in the United States while operating under the jurisdiction of the law of the Netherlands. Moreover, the phone number starts with the code of the UK (+44). We know your head is about to explode but bear with us just a little bit more.
The whole Netherlands thing is completely fake. FewaTrade claims to be operated by OliNo Energy B.V. from that country. The company does exist but has absolutely no ties with our cyber fraudster.
For a broker to be legit in the US, it has to be registered with the National Futures Association (NFA), among other things. As you can see, FewaTrade is nowhere to be found in the database. Thus, it’s safe to say that we’re dealing with an extremely dishonest and risky provider.
Trading Software Overview
Don’t get us started on this abomination of a platform. It’s supposed to be a classic WebTrader but it’s much worse than that. Can you imagine? Browser-based platforms are pretty lackluster and ineffective most of the time. They could be good for beginners but the missing features simply kill it altogether.
Plus, when provided by an unregulated scam broker such as FewaTrade, there are great chances that the platform has been manipulated. Yup, clients are allowed to deposit funds and everything else is fake. Therefore, instead of trusting shady brokers, find legitimate ones that will offer you the industry’s standard, i. e. Meta Trader 4 or Meta Trader 5.
Account Types Available
Unsurprisingly, FewaTrade offers no account types whatsoever. Thus, we don’t know anything about the trading conditions offered. To make matters worse, there’s not even a demo account. There’s your clear proof that this is unequivocally an outrageous scammer. Any legitimate broker will allow you to access a demo account prior to opening a live one.
All that we know is that the minimum deposit is $100, which is essentially what the fraudster is after. Once you deposit, FewaTrade will embezzle it and vanish into thin air, as most scammers do.
Available Trading Instruments
There are only three available trading instruments at FewaTrade – Bitcoin, Bitcoin Cash & Litecoin. We don’t even know what to think about this. Seriously, for a broker that’s so shady, it could have included a couple of more assets. Honestly, it isn’t worth investing in.
As for the leverage, we found out it caps at 1:20. While this level may be within the legal limit of 1:30 for FX major pairs, it is simply overwhelming for crypto trading since the respective market is extremely volatile. For crypto assets, a leverage of 1:5 will suffice. Spreads are a complete mystery in this case. Commissions are allegedly 0% but we highly doubt it.
Deposit and Withdrawal Procedure for FewaTrade
We’ll just leave this here. Take a look for yourself and then tell us does this terrible scheme know any boundaries.
Of course, pre-paid credits provide the scammer with full anonymity, which is ideal for its wrongdoing. While this does seem like a fairly obvious trap, falling victim to it will have severe consequences.
Got Scammed by FewaTrade? Get Your Money Back!
Since FewaTrade accepts only pre-paid credits, getting your money back can be a nightmare. This particular method was created to prevent that. Therefore, your only hope is to contact a team of experts or even the anti-cyber fraud department in the police. As for our part, we can help you by reporting the scammer and similar tricksters.
- FewaTrade is an anonymous and fraudulent broker that lied about operating in the US;
- The broker is unregulated and full of misleading information;
- Only Bitcoin, Bitcoin Cash & Litecoin trading is available;
- The platform offered is a poor-looking version of WebTrader;
- The fraudster only accepts payments via pre-paid credits.
FAQs About FewaTrade Broker
Is My Money Safe With FewaTrade?
Your money is not safe with FewaTrade because the broker is anonymous and unregulated.
What Is The Minimum Deposit for FewaTrade?
The minimum deposit that FewaTrade requires is $100 but we don’t recommend you invest.
Does FewaTrade Offer a Demo Account?
FewaTrade does not offer a demo account anywhere on its website.