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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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