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Is it safe to trade in WBroker?
Daisy Sigler
Diekirch
2023-09-19
ANSWER No, WBroker is not safe for investors. It is a scam flagged by financial governing bodies.WBroker claims affiliation with the Waton Group, allegedly boasting AFS001299580 in Australia and FSP546286 in New Zealand. However, these license numbers belong to Wealth Guardian Investment Limited, a company unrelated to WBroker, according to a warning by the New Zealand Financial Markets Authority (NZ FMA). This suggests that WBroker is using false details to deceive investors and appears to be an impersonation scam. You can refer to here for the full NZ FMA warning.Furthermore, the Hong Kong Securities and Futures Commission (HK SFC) have also issued a warning against WBroker (https://www.wbroker.com/) for fraudulent activities.Therefore, BrokersView strongly suggests investors avoid WBroker. It is a scam that carries substantial risks, including financial losses and identity theft, which could be financially and personally devastating. Without regulatory oversight, traders may not be able to reclaim their funds or get compensation once violations happen. To avoid such risks, it is advisable to choose a fully regulated broker instead.
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