When it comes to trading, many people are drawn to the possibility of making quick profits. However, several companies and individuals have taken advantage of this desire by offering scam services. This article will investigate the WRXST Global Ltd scam broker, a company that claims to offer futures, options, and currency trading services.
Company Overview
| Website | wrxst-global.com |
| Company | Wrxst Global Ltd & Cang Limited |
| Address | Unspecified |
| Regulation | Blacklisted, Scam |
Team
Despite the company claiming it has a team of experienced professionals, the specific individuals and their qualifications are not disclosed on their website or any other platform.
Services and Products
The WRXST Global Ltd scam broker promises to offer several trading products and services, including currency pairs, indices, commodities, and futures trading. However, their website provides limited information on trading conditions, spreads, and commissions.
Trading Platform
WRXST Global Ltd claims to offer the widely used MetaTrader 5 (MT5) trading platform. Although MT5 is a trusted trading software, it’s worth mentioning that scam brokers often use reputable platforms, so the presence of MT5 should not be considered a signal of a trustworthy broker.
License and Regulation
License Status
They claim they hold a license from FCA and other regulators. But, we did not find any details for this claim. Moreover, we found several warnings against this broker.
Regulation Status
WRXST Global Ltd also claims to be registered with several other financial regulatory bodies worldwide. However, on further investigation, there is no evidence of their registration with any of these regulatory bodies. This implies that the WRXST Global Ltd scam broker is not regulated and does not hold any licenses.
Why Should Not You Trust An Unlicensed Broker?
Unlicensed brokers are not required to comply with specific regulations and have no watchdogs watching over their activities. This is very dangerous for the traders because, in the event that you are scammed by an unlicensed broker, you have fewer chances of recovering your funds. Therefore, it’s crucial to invest in a properly licensed and regulated trading platform.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Legal Warnings Against WRXST Global Ltd:
We found 3 warnings against this broker. The first warning is from CySEC. They listed this broker as a potential scammer:
The second warning comes from ISOG.
The most important warning comes from the Securities and Future Commission, Hong Kong.
Client Feedback About WRXST Global Ltd:
About Their Trading
Many customers have stated that the trading conditions are not favorable, with late withdrawals and stolen profits from trading accounts. There have also been instances where customers’ accounts were unnecessarily closed without warning.
About Their Customer Service:
Many traders have criticized WRXST Global Limited’s customer service, describing it as inadequate and unresponsive, with many emails not being answered.
How Can Reviewsadvice Help You If You Get Scammed?
Reviewsadvice is a reliable online trading news platform that provides timely news and updates. If you have been scammed by WRXST Global Ltd scam broker, you can visit the website to get assistance. We will provide you with free consultation and service recommendations to help you in recovering the lost fund.
Final Thought
It’s always wise to properly investigate a trading platform before investing. Based on our review, the WRXST Global Ltd scam broker is not licensed or regulated, has a history of non-compliance, and has several negative client reviews. Therefore, investing in this platform is not advisable. We advise you to invest in reputable and licensed trading platforms that prioritize the safety and profit of their clients.
