WaveSolutions Review – Offshore Broker Scams Traders

Despite WaveSolution’s claims of being a reputable “global regulated broker” with more than a decade of experience, it is actually a deceitful scam. They claim to be licensed and authorized, but this is a blatant lie, and they exhibit all of the telltale signs of a scam.

If you’re contemplating trading forex pairs, indices, shares, ETFs, soft and energy commodities, precious metals, futures, bonds, or crypto with WaveSolution’s advertised tight spreads and generous leverage, think twice and read on. The following WaveSolutions review contains essential information that you should consider before making any decisions.

Also, we recommend you not to invest in the fraudulent brokers AppleTrade, XtreamForex and SageFX.

WaveSolutions is Not Licensed?

WaveSolutions is an unregulated Forex and CFD broker that operates from an offshore location. They claim to provide traders with a state-of-the-art trading platform, comprehensive educational resources, and an extensive range of trading instruments. 

However, before you sign up with any broker, it is essential to verify whether they are regulated by a reputable authority. In this case, our investigation has revealed that WaveSolutions is not a licensed broker.

The Regulation

The broker operates offshore and does not have Tier 1 regulation. We searched the databases of the FCA, ASIC, and BaFin to verify whether any of these bodies regulated WaveSolutions, but the broker did not appear on the lists. 

You should definitely keep this in mind. 

Trading Platform and Other Apps on WaveSolutions

WaveSolutions provides a copy of the MT5 trading platform that is accessible from any device with an internet connection. 

The platform offers a user-friendly interface, and traders can access a range of analytical tools, charts, and indicators. However, you should keep in mind that this platform is fake. This goes without saying! 

WaveSolutions’s Trading Assets and Instruments

WaveSolutions provides traders with access to a wide range of trading assets, including currency pairs, commodities, indices, and shares. 

Some of the popular instruments include EUR/USD, USD/JPY, gold, silver, NASDAQ, and Apple shares. However, keep in mind you are dealing with an unregulated entity. 

So Is WaveSolutions a Decent Broker or a Scam?

WaveSolutions is an unregulated offshore brokerage from the Marshall Islands. If you invest with this firm, you cannot count on assistance from authorities.

Countries of Service

WaveSolutions provides services to traders worldwide, except for the following countries: the United States, Iran, North Korea, Syria, Sudan, and Cuba. This is what they state. 

Yet, beware of the fact that this broker is unregulated. This is important to consider. 

Account Types

WaveSolutions claims to offer various trading accounts but you cannot see any of them on their web page. This is suspicious by all means. 

Many brokers offer at least 3 account types. For instance: Basic, Standard, and VIP. The minimum deposit required to start trading is apparently $250. Stay away from this broker as you can see they are up to no good. 

Can a Trader Use a Demo Account?

It is not clear if this broker offers any type of demo account. 

All legit brokers offer a free demo account that traders can use to test the platform and practice trading strategies without risking real money. That way you can see if you like the broker at all. This is important to remember. 

Terms and Conditions – What You Should Know

Traders who sign up with WaveSolutions are subject to the broker’s terms and conditions. It is important to read these carefully to understand the risks and fees associated with trading with WaveSolutions. This may be the only thing that they provided on their website. 

Leverage, Spreads, and Fees

When we first accessed Wavesolution’s platform, we were promised tight spreads. However, the benchmark EUR/USD spread was as high as 5.4 pips, which is unacceptable. A spread is only considered acceptable if it is below 1.5 pips. It’s clear that Wavesolution’s promises are just empty words. 

Regarding maximum leverage, Wavesolution claims it can go as high as 1:500. But given their untrustworthy website and their false claims about regulation, it’s hard to believe anything they say. Instead, we recommend checking out our list of brokers that offer leverage as high as 1:500, so you can be sure you’re dealing with reputable companies.

Scammed by a WaveSolutions Broker? – We Want To Hear Your Story

If you have been scammed by a WaveSolutions broker, we want to hear your story. Our platform provides a safe space for victims to share their experiences and receive support from others who have gone through similar situations. By sharing your story, you can help prevent others from falling victim to similar scams.

Our experts can also provide guidance on what steps to take next. This may include reporting the scam to the relevant authorities or pursuing legal action to recover your losses. Remember, you are not alone, and there is help available.

What Is the Chargeback Procedure?

The chargeback procedure typically involves contacting your bank or credit card company and providing evidence that the transaction was fraudulent. This evidence may include documentation of the scam, such as emails, chat logs, or other communications with the fraudulent broker. It is essential to act quickly and provide as much evidence as possible to support your claim.

The chargeback process can vary depending on your bank or credit card company’s policies. It is important to understand your rights and duties as a client and to seek legal advice if necessary. Remember, taking action to recover your funds is crucial in stopping scammers.