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Is scalping allowed in Win ICoin?
Luke Ignacio
Greece
2022-07-04
ANSWER Win ICoin is not a licensed or regulated broker even though it states offers that look good to be true. Win ICoin claims to be an authorized broker under multiple regulations, including:1) the United Kingdom Financial Conduct Authority (FCA);2) the South Africa Financial Sector Conduct Authority (FSCA);3) the Australia Securities and Investments Commission (ASIC);4) the German Federal Financial Supervisory Authority (BaFin);5) the Cyprus Securities and Exchange Commission (CySEC);6) the Mauritius Financial Services Commission (Mauritius FSC);7) the Belize Financial Services Commission (Belize FSC);8) the Saint Vincent and the Grenadines Financial Serivices Authority (SVG FSA). However, we did not find any match results to Win ICoin in the above watchdogs' registries. What's more, both the German Federal Financial Supervisory Authority (BaFin) and the Swiss Financial Market Supervisory Authority (FINMA) both issued warnings against Win ICoin for providing financial services without authorization. You can check full warnings from BaFin and FINMA.The truth is, Win ICoin is not overseen by any regulators. That means investors' funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Win ICoin and trade with licensed brokers.
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