Winnex Consulting Review – Blacklisted Fraud Lies About License
Winnex Consulting website is owned and operated by Wealth Fund Services Ltd, a Cyprus-based investment company. Broker offers online financial services and claims to have been licensed by CySEC.
However, this is not the factual state and this site is not to be trusted. Winnex is actually an ongoing scam scheme and has not been regulated. Read our Winnex Consulting review to see why it is so.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||CONSOB|
|Owned by:||Wealth Fund Services Ltd|
|Supported Platforms:||Web Based|
|Minimum Deposit:||250 USD|
|Types of Assets:||N/A|
|Free Demo Account:||Unavailable|
|Accepts US clients:||No|
Is It Safe To Trade With Winnex Consulting Broker?
We can say it right off the bat: Winnex Consulting is not a safe broker to rely on! Simple check of the CySEC register and not finding Winnex there is a confirmation that Winnex is faking a license.
To be sure, we have also checked several more registers: FCA, BaFin, AMF, CNMV, ASIC, CFTC. Winnex Consulting is not in any database of the regulated brokers.
Without being regulated, Winnex Consulting cannot guarantee safety of funds, security protocols, segregated accounts and more. Trading environment provided cannot be deemed safe due to the broker operating without authorization.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Regulated brokers have no need to lie about being licensed. As a matter of fact, due to the transparency obligations, they will have to provide proof of being regulated. That is why you can find legal documentation on their site and check the company background info in detail.
Furthermore, safety of funds is guaranteed, including enhanced customer protection. Risk-reducing measures are also taken to prevent unwanted losses.
So Is Winnex Consulting a Scam?
Winnex Consulting is a fraud claiming to be licensed by CySEC. In reality, CySEC has never authorized Winnex Consulting to offer online financial services. A warning issued by CONSOB confirms that this broker operates illegally. Stay away!
Blacklisted by the Financial Regulator CONSOB
While going through the CONSOB site search, instead of proof of license, we have found a warning issued against Winnex Consulting. CONSOB (Italy) is one of the leading EU regulators.
When a regulator blacklists a broker, it is definitely a sign the company should not be trusted. The warning mentioned clearly states that the firm is offering services and transactions without authorization.
What Trading Software Does the Winnex Consulting Broker Offer?
Winnex Consulting advertises the popular MT4. The promises are made about trading safely, with access to numerous instruments, with advanced trading features.
However, the broker does not provide download links. Registering an account gave access to an overly simplified web based trader that does not resemble the great MT4 in the slightest.
Desktop solution for trading at Winnex Consulting is supposedly designed to be user friendly and reliable. Users are allegedly able to access top markets and trade at a lightning-fast speed. Advanced options, real time data, customizable charts are all included.
Without the functional download links, we could not check this.
Traders using the mobile platform are promised to be able to do so on both iOS and Android phones. Available on the go, this software is there for the traders who are not tied to one place. This would be admirable if true. But coming from a scammer like Winnex, we cannot easily trust this promise.
Winnex Consulting Accounts Overview
Account types available at Winnex Consulting are the following:
- Basic – $250
- Silver – $10 000
- Gold – $50 000
- Platinum – $100 000
- Diamond – $500 000
The absurd costs per account type are typical for fraudsters. No regulated broker would ask this sum from you. So be cautious and do not invest here.
Negative Equity Protection
Winnex Consulting is an unlicensed broker. In comparison to regulated brokers, this broker cannot guarantee certain funds protection and consumer safety measures. One of them is negative balance protection.
This refers to protecting the client from losing more than they’ve invested. Thanks to this measure, if a client deposits $1000 for example, they can never lose more than what they’ve deposited, in this case $1000.
Winnex Consulting – Countries Of Service
Apparently, Winnex Consulting does not offer its services to US residents. Other countries are accepted. Clients from the EU(Italy, Germany, etc) and other areas can make an account and trade.
Winnex negates offering its services in countries where the jurisdictional laws and regulation do not allow it. Judging from the CONSOB warning, this is another lie by Winnex.
What Is Known About Winnex Consulting’s Trading Conditions?
Winnex clients are given options of buying and selling over 1000 tradable assets. Alleged super tight spreads start from 0.7 pips. Leverage allowed can go up to 1:200.
Minimum deposit needed is $250. Account funding can be supposedly done via credit/debit cards, E-wallets. However, all payments go through some third party websites that are highly suspicious. Minimum withdrawal amount is $100 and the processing time is 3-4 business days.
Bonuses are included, such as the birthday bonus, discount on account types and the 200% welcome bonus for the first deposit.
Scammed by Winnex Consulting Broker? – Let Us Hear Your Story
Please do not feel ashamed to share your experience as a scam victim. Unscrupulous brokers are constantly present in the online trading community. You reporting a fraud and speaking up could help prevent another trading becoming their target or next victim.
Share your story with us and help us raise awareness!
But What Is A Chargeback?
Feel free to refer to our experts for help on processing a chargeback. This process is crucial for getting your stolen funds back.
Contact us for any help needed. You will be advised on how to act further, including necessary precautions and safety measures.
What Is Winnex Consulting?
Winnex Consulting is a fraudulent website selling financial services and defrauding its clients.
Is Winnex Consulting a Scam Broker?
Yes, Winnex Consulting is an unregulated scam broker and only lies about having been licensed by CySEC.
Is Winnex Consulting Available in the United States or UK?
Winnex Consulting does not offer services to USA residents. The broker does not specify other countries.
Does Winnex Consulting Offer a Demo Account?
No, Demo account is unavailable at Winnex Consulting so trading risk-free with virtual funds is not possible.