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Trade WL

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Operating status: SCAM

Website: https://tradewl.com/

Broker violations and abnormal records
  • 2023-07-12 The UK FCA issued a warning against Trade WL

    On July 13, 2023, the Financial Conduct Authority (FCA) issued a warning against Trade WL, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/trade-wl

    On July 13, 2023, the Financial Conduct Authority (FCA) issued a warning against Trade WL, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/trade-wl
  • 2023-07-13 BrokersView has reviewed that Trade WL is an unregulated broker

    Trade WL claims to be the trading name of Trade WL LLC, a company supposedly  registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under Reg number 1191 LLC 2018. However, we searched the SVG FSA register and revealed that the number belongs to another company which seems to have nothing to do with Trade WL.

    In an attempt to appear real, Trade WL displays an address in the UK, where almost all individuals and firms are required to be authorized by the Financial Conduct Authority (FCA) before they can solicit investors. However, the FCA has issued a warning against Trade WL for illegally offering financial services or products without their authorization.

    In essence, Trade WL 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. It is unequivocally a scam.

    Trade WL claims to be the trading name of Trade WL LLC, a company supposedly registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under Reg number 1191 LLC 2018. However, we searched the SVG FSA register and revealed that the number belongs to another company which seems to have nothing to do with Trade WL.In an attempt to appear real, Trade WL displays an address in the UK, where almost all individuals and firms are required to be authorized by the Financial Conduct Authority (FCA) before they can solicit investors. However, the FCA has issued a warning against Trade WL for illegally offering financial services or products without their authorization.In essence, Trade WL 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. It is unequivocally a scam.

Related Complaints

Q&A

Do they allow scalping?

Jeffy
Panama
2023-07-21
ANSWER We strongly advise against dealing with Trade WL due to its status as an unlicensed broker.Trade WL claims to operate as the trading name of Trade WL LLC, a company supposedly registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under Reg number 1191 LLC 2018. However, the company number, upon our investigation, turns out to belong to another company which seems to have nothing to do with Trade WL.What's more, Trade WL claims to have an address in the UK, where almost all individuals and firms are required to be authorized by the Financial Conduct Authority (FCA) before soliciting investors. However, the FCA has issued a warning against Trade WL for illegally offering financial services or products without their authorization.In conclusion, dealing with Trade WL, a trading platform lacking regulatory oversight, could lead to financial losses and identity theft because there are no rules in place to safeguard investors. Therefore, it is advisable to exercise extreme caution and steer clear of unlicensed brokers like Trade WL. To mitigate such risks, investors are encouraged to choose a fully regulated one.
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