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How can I make sure my fund is safe in CWG? I was trying to see their clients protection info on their website but cannot find it.
Axel Hoot
Malaysia
2022-02-22
ANSWER CWG Markets is the trading name of CWG Group of companies which consists of CWG Markets Ltd (UK) and CWG Markets Ltd (VU). CWG Markets Ltd (UK) is an investment firm fully authorised and regulated by the Financial Conduct Authority (FCA), under the firm reference number FRN 785129.FCA is one of the most reputable regulatory watchdogs in the world for regulating forex brokers and other financial entities. Forex traders would prefer to open trading accounts from FCA regulated forex brokers because of the watchdog’s stringent regulatory laws, protection of client funds and companies insolvency compensation rules etc.So traders dealing with FCA-licensed brokers will be under better funds guarantee. CWG Markets Ltd (VU) is authorized and regulated by the Vanuatu Financial Services Commission (VFSC), with registration no. 41694. However, VFSC is a popular offshore regulator among forex brokers as capital (or bond) requirements are relatively small. A Forex license covering the online activities of a brokerage is issued in 2-3 months, which is indeed extremely fast. Moreover, there is no income tax, capital gains tax and inheritance tax in the country. So VFSC-regulated brokers are actually not under strong regulation. Therefore, taking clients protection and funds security into consideration, it is better to avoide onbaording your account to its VFSC license. It is much safer to onboard your account to its FCA regulation.
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