LEIWOW FX Review – Near Perfect Clone Of A Reputable Company
It is certain that a company that forges their licenses and regulatory status, as well as impersonates a reputable broker is not to be trusted. While claiming to make trading easier for every investor, the questionable service provider goes so far as to even copy entire parts of the site belonging to vtmarkets.com.
Apart from falsifying their licenses, presenting fake awards, and falsely promising outstanding trading conditions, the site also lacks transparency and legal docs. If you wish to learn all about copycat scams and how to successfully avoid them, read our LEIWOW FX review.
|Regulated by:||Unregulated Broker|
|Is This Company Safe?||No regulations means the firm is absolutely not trustworthy!|
|Have Warnings from:||N/A|
|Registered in:||US (alleged)|
|Deposit Bonus:||50% Welcome bonus and 20% deposit bonus|
|Trading Assets:||Forex, Indices, Crypto, Energies, Metals|
|Free Demo Account:||Available|
|How to Withdraw from This Company?||Avoid this horrible trading portal and contact us for details on how to get your money back!|
Proofs Of LEIWOW FX Scam
Since no corporate information exists on the website, all we could do is follow the clues given in the regulatory status section. Here the faux broker dealer claims to be MSB registered, FSCA regulated and SVGFSA incorporated. If you consult all three registers, you’ll find no company under this name.
Additionally, they also cannot be found in other databases updated by Tier 1 regulators like FCA, ASIC, NFA and BaFin. This means that the anonymous conduct is not legally incorporated anywhere, nor do they have an operational license. Just like Exobit, every other fraudulent platform is only looking to profit off of your financial misery.
In such cases, it is better to choose a well-regulated trading powerhouse that provides safety of funds through segregated bank accounts, compensation funds and negative insurance protection.
How Clone Companies Work
Using the WhoIs register we have determined that leiwowfx.com was launched in early 2023, targeting these demographics:
- United States
Clone companies steal one or more features from another company besides legal credentials.To make the mimicry work better, the fraudsters have also stolen social network profiles from the firm they are cloning, and linked them on their website.
The rest of the operation is conducted through boiler room agents, with pig butchering as their main tactic. With this particular fraud, agents hunt for targets on dating sites like Bumble, Grindr or Tinder and fake a romantic relationship in order to take the money from their victims.
Getting your assets back from these thieves requires intervention from a specialist, so get in touch with our chargeback experts today.
Rather Attractive But Unreal Parameters
Trading conditions advertised by shady service providers should be taken with a grain of salt. Everything found on this site relating to concrete trading parameters may as well be just copied from VT Markets website.
In relation to that, spreads are claimed to vary depending on the account type, but could be as low as 0 pips or in some cases starting from 1.3 pips on EUR/USD.
If the spreads are 0 pips, then the trading commission is included and it’s from $3 to $6 per turn.
Otherwise, the maximum allowed leverage is up to 1:500. Needless to say, such absurdly high leverage is already banned in the UK, EEA, AU and US.
Two types of bonuses you can get credited with right after depositing are:
- 50% welcome bonus
- 20% deposit bonus
When you open an account and deposit your first sum, you will instantly be rewarded with a 50% welcome bonus. Additionally, if you made a deposit over $1000, you get an extra 20% added to your total account balance.
Beware of the malicious bonus withdrawal conditions though, they could include trading volume requirements. These options aren’t included in legal docs, like they should be.
Unremarkable Trading Options
This website has to own one of the worst trading platforms we’ve ever seen in terms of layout, distribution and functionality. Trading accounts offered are just another part shamelessly copied from the renowned firm, so that can’t be trusted either. Not much else is left to talk about when these fraudsters own up to nothing they advertise.
Incredibly Basic Software
Accessing the trading floor may be done either by mobile or desktop devices, as the main trading app is a web trader. This software is favored by various deceptive firms, as it allows for quick and easy data manipulation. Forex Trading Market is another example of this conduct.
The app itself is nothing to write back home about. It’s incredibly simple with the only functions being selecting instruments, viewing charts, buying and selling.
The advertisements you’ll see about MT4 and MT5 programs on the website are just empty claims, and these programs are not in fact available.
Different Assets Presented
The part of the website stolen from another company has one list of available products for trading. However, something completely different is presented on the poorly equipped webtrader:
- Forex (EUR/USD, EUR/GBP, USD/CHF, USD/JPY)
- Indices (IBEX35, DAX, DOWJONES, FTSE, AUS200)
- Crypto (BTC, ETH, LTC, XRP, NEO, DOT, DOGE, ZEC)
- Energies (Natural Gas, Brent Oil, Crude Oil)
- Metals (Silver, Gold, Platinum)
Live Trading Accounts
As with many companies today, registering a LEIWOW FX login requires an online verification. Instead from leiwowfx.com, we received a registration code from another fraud website, deppmarkets.net.
Since the entire website was copied from a regulated firm, so are the advertisements of account types. These are the accounts the company allegedly offers:
- Standard STP – $100, spreads 1.2 Pips, 0 commission
- RAW ECN – $100, spreads 0.0 Pips, $6 commission
Both account types are available as Islamic versions as well.
Demo Trading Available
Upon registration you may choose to first test the trading environment before investing real cash. This is the purpose of a Demo account. The LEIWOW FX Demo version is available with $100,000 virtual cash for risk-free trading during a limited time.
Staying faithful to copying everything from an acclaimed brokerage conglomerate, this clever swindler has also expanded their own offer by presenting various educational materials. This undoubtedly boosts their credibility and professionalism, but doesn’t make them any more trustworthy – on the contrary.
However, the truth shows through the cracks. The educational videos say they cannot be played through the current host which makes them useless, and is yet another evident sign of the thievery.
The entire document covering the conditions for monetary transactions was not written by this site’s owners. In that sense, we cannot trust anything it says on there, although it would indeed be nice if any of it was true.
Textbook cons like this one only wish to appear diligent and trustworthy, but are none of it in reality. No legal documentation shows any of the major company rules, conditions or regulatory directives that outline their business ethics.
Because of all that, you are better off with a platform that is worth their salt and owns proper licenses.
It is unclear how dedicated the LEIWWOW FX support is when they’ve enabled only one communication channel. Customer service that only allows you to contact them via a single email address gives off the impression of not wanting to be contacted at all. So if your ticket remains unanswered you can be sure your pleas fall on deaf ears.
Need Help With Recovery? Call Our Experts!
There are basically no pros when it comes to dealing with this company. All of the legal information, services, and in fact the whole website of theirs is outright stolen from another firm. We have seldom seen such a complete and thorough cloning process.
What these con artists don’t care about cloning is the quality of service, unfortunately, as their only interest is to steal the money. If you’ve been burned by these professional scammers, book a free consultation with our legal professionals through the live chat.
What Is LEIWOW FX?
It is an unscrupulous trading website with foul tactics and lies presented all over the site.
Is LEIWOW FX Legit?
No, despite the claims about being regulated by MSB, FSCA and SVG, none of these regulators have data on them.
How Does LEIWOW FX Work?
The broker asks for a deposit and offers a rudimentary platform for you to trade on. No trading is actually conducted and you should contact our legal service for help with money recovery.