FX-Wing.com review – 5 things you should know about fx-wing

FX-Wing.com review – 5 things you should know about fx-wing

Rating: 1

Beware! FX-Wing.com is an offshore broker! Your investment may be at risk.

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In any day of the week, FX-Wing.com is a scam and an unregulated broker. There is nothing to suggest even the thinnest level of legitimacy here. The website is a chaotic mess filled with useless texts and fake promises. It’s what we call here a day-to-day scammer entity, one that will sooner rather than later be blocked. In the meantime, read the revie to educate yourselves on what to look out for!

The registration process is not at all what legit broker offer; it’s a shady process and what followed was an even worse user area. But the client portal is unlike anything we have seen, and not in the good way. It seems to us as if though the broker attempted to open its own user portal but failed either because of a lack of experience or a lack of motivation. Either way, it’s an inadequate dashboard.

But the worst part is that the FX-Wing.com does not have an active trading software. Not on the user area, nor on the website (as we shall see).

Without a trading software there isn’t anything applicable in terms of trading conditions. There is no application for the advertised tradeable assets, nor for the leverages and spreads. Furthermore, FX-Wing.com cannot even be deemed a broker because it lacks the most important element of all!

FX-WING.COM REGULATION AND SAFETY OF FUNDS

The only information worth our time is a claim that the broker is fully registered in Hong Kong. Note that we are talking about a registration and not a regulation. A registration claim is worthless when dealing with a broker that looks and behaves like this one.

Moreover, FX-Wing.com is definitely not licensed by either the Hong Kong Securities and Futures Commission (SFC) nor the Hong Kong Monetary Authority, the two main regulators in the jurisdiction. Moreover, Hong Kong is an unprecedented player in the global FX world, and it does not tolerate the likes of FX-Wing.com. These types of firms are either blacklisted, or pass by the radar for a short time until they are caught; but they are always caught!

There are no further legal details or otherwise. And that’s fine by us because we knew from the start that the firm is unregulated, even without looking into it. FX-Wing.com is a complete scam and nothing more. This unregulated broker is a huge risk to all, so make sure to stay away from it!

Always aim to invest in regulated brokers, and not illicit ones. It may not be easy to distinguish them from one another, but there is a way to make the process much easier. The crucial point is to check the legitimacy of the broker’s regulatory or registration claim. If nothing’s there, you close the site and move on to any EuropeanUKUS, or Australian broker, or any other with a legal status. Being regulated is not just encompassed in a simple permission to offer FX trading service. It comes with a ton of responsibilities, most of which are concerned with the way the broker treats its users. Misconduct on the side of the broker either results in financial penalties or in total closures of the brokerage website in question.

FX-WING.COM TRADING SOFTWARE

The advertised MT5 does not actually belong to the broker in question. Once we downloaded the install file we noticed that the name of the MT5 is not that of the broker being reviewed but of an entirely different entity. This means that the servers would be entirely different, and won’t be reflecting any of the trading conditions the website of FX-Wing.com promotes.

Moreover, the user area reveals absolutely nothing in terms of a trading platform. Just imagine how careless FX-Wing.com is that it even does not reveal a software.

FX-WING.COM DEPOSIT/WITHDRAW METHODS AND FEES

In the user area the depositing section was broken. We got an error page saying that we need to complete an account verification process before depositing. But to block it is such a shady manner is simply unacceptable. We did see what the payment methods where, nevertheless. These were all based on crypto wallets, all untraceable, and all very risky. Once invested the money will be lost forever.

The withdrawal section did not reveal anything.

Turning to the website, we find absolutely nothing on payments. Which leads us to believe that clients will have no way to take out money; and why should they? FX-Wing.com would be losing all stolen funds!

HOW DOES THE SCAM WORK

Scammers use a couple of tricks that make up a big scheme that has not changed since its inception, meaning that it’s fairly easy to avoid it.

The fraud starts when the broker contacts the user, who has unknowingly provided his or her contact details in the past through some seemingly innocent channel.

Communicating with the broker might seem like a pleasant experience as the other side sweettalks its way to your wallet. The reason why most frauds target non-trading audiences is because they are more susceptible to this kind of verbal manipulation. Otherwise, users might start receiving emails with unbelievable good investment deals, none of which are actually lucrative.

The tipping point is the first deposit that scammers are so eager to sell. After this first investment, the user has fallen into the clutches of the fraudster. Either he will be pushed to invest more by false promises of further “profit”, or the client will want to get back his initial deposit, a request to which he is told that further investments are needed.

On whichever side of the coin you the user is, she will most likely never be able to withdrawal. All withdrawal requests will be denied for a plethora of equally ludicrous reasons.

WHAT TO DO IF SCAMMED

Once scammed, your safest bet is a chargeback. Contact your credit or debit card company and move on from there. It’s good to know that MasterCard and VISA have a chargeback period of 540 days.

Bank investments are more difficult to reimburse but not impossible. Most banks have some sort of strategy for dealing with lost capital, so the client’s best bet is to contact her corresponding bank and proceed from there according to the bank’s plan of action. We also recommend that users change their bank account username and password if defrauded.

As for crypto investments, it is unfortunate to say but there is no real way of getting lost money back through these channels. All crypto investments are untraceable, and there is no telling where the investor’s funds will end up.

Don’t trust recovery agents or agencies. These are either independent scammer looking to charge users “service fees”, or extensions of illicit broker schemes.

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