FXtradewolf Review – Facts About FXtradewolf.Com Broker
It’s time to see why FXtradewolf is a big fraud. A warning from Malta’s regulatory body clearly shows this. The firm is also undoubtedly deceitful because it has many indicative cues of all offshore scams. These are its absence of regulation, the fake trading conditions, and its absence of clarity about its whereabouts. This FXtradewolf review will provide you with more valuable details.
|Company||Fxtrade Capital Markets Ltd|
Compliance and Fund Safety at FXtradewolf
Regulatory status is one of the most important pieces of information about a financial services provider. Licensed brokers provide detailed information about the firm that runs them, where they are located, in which jurisdictions they are licensed, and what regulatory bodies oversee their operation.
Fxtradewolf is the trading name of Fxtrade Capital Markets Ltd, a corporation founded in Malta and warned by the Malta Financial Services Authority (MFSA).
Brokers regulated in the States, UK, the EU, and Australia are often particularly reliable. Such brokers are bound to report to some of the most relentless economic authorities in the world. They are required to satisfy many conditions before acquiring a license.
Tip: You may want to leave negative FXtradewolf reviews. This can limit the spread of brokers involved in bogus trading activities.
Available Trading Software at FXtradewolf
You don’t have much to see if you are wondering about the trading platform. This is horrible software with only fundamental functionality. You may be able to open pending orders and complete basic TA.
Nevertheless, the industry-standard software on the market, MT5 has a lot more advantages. There is automated trading and much more.
However, even when offshore companies like FXtradewolf have reliable platforms, stay away from them! They tend to exploit their venues to show some activity. In the end, this just means they stole the money the moment it was placed.
MT5 is the prevailing PC trading software in this day and age. Why? Basically, the software has many cutting-edge features and is the vanguard of innovation efforts in the field. Nonetheless, it has the benefit of being extremely easy to use because of its vast interface.
Account Types Available at FXtradewolf
Legit FX brokers have various types of trading accounts listed. Also, they include clear reports of trading parameters such as minimum deposit, order execution strategy, tradable financial assets, and much more. Many licensed brokers let you start trading with a very low initial amount.
Such data is entirely missing from the FXtradewolf website. The Terms and Conditions also do not indicate what the trading parameters are. Different types of fees are noted, but their amount is not defined.
Nevertheless, it does state that bonuses are proposed. This is an additional hint that Fxtradewolf could not be a licensed broker based in a European Union country. Regulated brokers are restricted from using bonuses and prize games to lure customers.
Methods of Deposit and Withdrawal
You should only make deposits with crypto, according to FXtradewolf. They list BTC and don’t give you any other options.
Financial scammers prefer crypto transactions. These give a level of anonymity to the scammer. Apart from that, it is extremely challenging to get your money back.
Yes, some brokers accept digital currencies like BTC. However, they do so along with other payment methods such as bank cards, wire transfers, or e-wallets like PayPal, Advcash, or Skrill.
Terms and Conditions state that if an account has obtained a bonus, it can only withdraw profits after it has met the minimum volume conditions. These conditions are overly high and you could never be able to reach them.
How the Fraud has Carried Out
Bogus offshore forex brokers follow several infamous patterns. You will see quite a few withdrawal issues and negative reviews. In the same way, fees will be exceedingly high. Beware that these tremendous fees could go beyond 20%.
Therefore, they will include some sort of profit charge. Deceitful websites will attempt to bilk you of these fees before initiating a withdrawal.
Understand that this is nearly always the case! In addition, there are always big promised payouts involved. This is another familiar fraud scheme that you should keep in mind.
These scammers promise guaranteed gains. Trading with leveraged instruments carries risks. Never forget this! Any broker who is lying will keep telling you that profits are guaranteed.
Trade with honorable and regulated brokers only. Licensed brokers come from the EU, the United States, the United Kingdom, and Australia.
FXtradewolf broker is a huge trading fraud. It would be highly recommended to stay away from it. As you may see from this FXtradewolf review, there are many reasons to stay away from this trading scam.
This broker utilizes bogus addresses, and everything about it is misleading. Let us know if you have any problematic experiences with this scheming broker. We are able to help you report it.
FAQs About FXtradewolf Broker
Is FXtradewolf a Regulated Broker?
FXtradewolf is simply another enormous trading scam. It is advisable to avoid it at all costs.
Is My Money Safe at FXtradewolf?
We already know that this is a broker scam. So, your money is definitely not safe with them.
What Is The Minimum Deposit at FXtradewolf?
The minimum deposit amount that this broker requires is $250. It’s relatively high, by all means.