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Money Wave

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Operating status: SCAM

Website: https://www.wavemoney.in/

Broker violations and abnormal records
  • 2023-12-17 BrokersView has reviewed that Money Wave is an unregulated broker

    Money Wave claims to be a licensed trading platform but fails to provide any specific information about its regulatory status.

    While it purports to be domiciled in Dubai, there are no indications that it is licensed and regulated by any relevant financial regulators, including the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA), and the Central Bank of the United Arab Emirates (CBUAE).

    In essence, Money Wave is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    Money Wave is unequivocally a scam.

    Money Wave claims to be a licensed trading platform but fails to provide any specific information about its regulatory status.While it purports to be domiciled in Dubai, there are no indications that it is licensed and regulated by any relevant financial regulators, including the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA), and the Central Bank of the United Arab Emirates (CBUAE).In essence, Money Wave is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.Money Wave is unequivocally a scam.

Related Complaints

Q&A

My question is that does Money Wave have mini account?

Leigh Woods
France
2023-12-28
ANSWER Dealing with Money Wave, an unlicensed broker, is not a secure option. Investors should not be under the misconception of making profits with platforms that lack credibility. We strongly recommend avoiding Money Wave.This company, which claims to be based in Dubai, has not secured the necessary licenses from pertinent financial regulators. These include the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA), and the Central Bank of the United Arab Emirates (CBUAE). The lack of regulatory oversight raises questions about its regulatory compliance and credibility.Therefore, dealings with Money Wave could potentially lead to fraud and identity theft. To protect their interests, investors are advised to avoid unlicensed brokers like Money Wave and instead opt for fully regulated ones with strong reputations.
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