Table of Content
Winvestock Review – Learn More About Winvestock.Com
Table of Content
First of all, we have to see what we are dealing with when it comes to this con artist. Here’s a table with key facts about Winvestock:
|Headquarters||60 Great Tower St, London, UNITED KINGDOM, EC3R 5AZ|
The Winvestock Review will go into detail to prove the illegal status of this financial swindler, starting on one version of the company’s website. You ought to immediately notice that something is off when you visit it. It looks unfinished and terrible, not something you would want from a so-called legitimate broker.
There is also another version of Winvestock’s website winvestock.net which claims it is part of Winvestop-Group Company, has much more content and will be the main subject of this review.
Is Winvestock Broker Safe? Regulation and Security
There are several warnings about this broker, including one by the UK’s Financial Conduct Authority (FCA), which regulates all entities in Winvestock’s alleged domain.
The other, more polished website states the company is authorized by “the International Financial Services Commission (IFSC) authorization number IFSC/XX/Winvestock/XX/XX,” but the IFSC’s website has no files on Winvestock.
On the same website, in terms and conditions, the fraudster contradicts himself by putting a fake address, namely – 2 SQUARE DE MEEUS 35/37, Bruxelles. As you may have already guessed, there is no sign of Winvestock there and also no records on the company on Belgium’s Financial Services and Markets Authority website, apart from an earnest warning.
What Kinds of Trading Platforms Are Available?
One version of the website provides no information about the available platforms. Nevertheless, it was possible to find out about its platforms from the other version and various sources.
The platform is a web-based version of Meta Trader 4, the beloved and top-notch trading software. However, it looks rather unpolished and lacks several advanced tools that facilitate trading. Options like pending orders and indicators are there, but it is not enough to convince someone that this is legit.
Furthermore, browser-based trading is susceptible to manipulations by scam brokers so try to avoid them as best as you can.
What Types of Accounts Does Winvestock Provide?
The account types that Winvestock offers include:
- Basic – min. deposit of $250;
- Silver – $10,000;
- Gold – $50,000;
- Platinum – $100,000;
- Diamond – $500,000.
All account charge “0 Commission for 1 million USD trading volume,” and allegedly offer multiple other benefits and perks.
The company demands a minimum deposit of $250, which is not unusual by any means but given the shady broker’s unregulated status, it is unacceptable. For the same price, you can find multiple reliable and legitimate providers that offer much better trading software and conditions. Trusting Winvestock is incredibly dangerous.
Trading Instruments: A Brief Introduction
Here’s an overview of the trading instruments that Winvestock offers, per the company’s website:
- FX currency pairs – EUR/USD, AUD/USD, GBP/USD, etc;
- Cryptocurrencies – Ethereum, Ripple, Dash, etc;
- Commodities – oil, gold, silver, copper, brent oil, etc;
- Indices – Nasdaq 100 DEC20, Germany 30 DEC20, FTSE DEC20, etc;
- Stocks – Tesla, Apple, Microsoft, etc.
It is a pretty substantial offer but you have to consider the leverage – 1:100! Firstly, leverage that high is banned in the UK (1:30 is the limit), and secondly, it is dangerous for beginners to trade at such high leverage. The spread is 0.7 pips for FX majors, which is decent but does not change much when looking at the whole picture.
Funding Methods at Winvestock
According to the website, clients can make deposits via credit/debit cards, BPAY or bank wire transfers and it is allegedly protected by an SSL (Secure Socket Layer). The minimum deposit is $250.
For withdrawals, the same methods apply. The company states that its finance department takes 3-4 business days to process withdrawal requests. The minimum amount for bank transfers is $/£/€ 100 and for other methods, $/£/€ 50. Most withdrawals are “assigned a service fee of 3.5%,” while the maximum fee is “capped at $3,500.”
Do not forget that this broker is unregulated and may pose a threat to your funds. Instead, make sure you trust other renowned companies that require much lower deposits and can proudly show their license.
How Do I Get a Refund if Winvestock Stole My Money?
Do not panic if you’ve fallen victim to cyber fraud, it could have happened to anyone. It is important to act quickly in order to get your money back! We can help you with that.
For credit/debit card transactions, the issuing bank can perform a chargeback, which needs to be requested within 540 days. Wire transfers require a recall but it is only possible if the transaction is not yet completed.
- Wivenstock is an unregulated broker;
- There are several warnings about this scammer, most notably issued by the FCA;
- It accepts only credit/debit cards and wire transfers as payment methods;
- The leverage it offers is prohibited in the UK;
- The platform it offers is a web version of Meta Trader 4;
- The company has presented itself with a comprehensive website but its unlicensed status is undeniable.
FAQs About Winvestock Broker
Is Winvestock a Legitimate Broker?
Winvestock is not a legitimate broker because it is unlicensed and has several warnings issued against it.
What Funding Methods Does Winvestock Accept?
The methods that Winvestock accepts include payments via credit/debit cards, BPAY and wire transfers.
Is Winvestock a Good Broker?
Winvestock is not a good broker mainly due to its unauthorized status and lack of professional trading platforms.