Online trading is growing in popularity as people look for ways to invest their money. However, there are many scam brokers in the online trading industry. Cowtrading Wealth Ltd is one of the companies that have been flagged as a scam broker. This article will review Cowtrading Wealth Ltd, its services, and why you should not trust an unlicensed broker.
Company Overview
| Broker Name | Cowtrading Wealth Ltd. |
| Website | https://www.cowtradingvip.com/ |
| Location | United Kingdom |
| Regulation | Not Regulated |
| Warnings | Multiple |
Team
There is no information about the team behind Cowtrading Wealth Ltd on their website, which is a red flag. Legitimate companies usually have information about their team members on their websites.
Services and Products
Cowtrading Wealth Ltd offers several trading accounts, including Basic, Standard, and Premium accounts. Each account has different features, such as leverage and spreads. The company also offers a demo account for practice trading.
Trading Platform
Cowtrading Wealth Ltd uses a trading platform called MetaTrader 4 (MT4). MT4 is a popular platform used by many legitimate brokers. However, it is important to note that scam brokers can also use legitimate trading platforms.
License and Regulation
License Status
A search on the FCA register shows that Cowtrading Wealth Ltd is not licensed by the FCA. This means that the company is operating illegally in the UK.
Regulation Status
Cowtrading Wealth Ltd claims to be regulated by the International Financial Market Relations Regulation Center (IFMRRC). However, IFMRRC is not a reputable financial institution and is not recognized by any regulatory body.
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.
Why Should Not You Trust An Unlicensed Broker?
An unlicensed broker is not accountable to any regulatory body, and there is no guarantee that they will operate with integrity. Unlicensed brokers are often involved in fraudulent activities, such as manipulating the market or stealing their clients’ funds. If you choose to work with an unlicensed broker, you run the risk of losing your investment or even your identity.
Legal Warnings Against Cowtrading Wealth Ltd
There have been several legal warnings against Cowtrading Wealth Ltd. In August 2019, the Financial Conduct Authority (FCA) issued a warning against the company stating that it was operating illegally in the UK. The FCA warned that the company was misleading investors by claiming to be licensed and regulated.
Client Feedback About Cowtrading Wealth Ltd
Several client reviews have been published online, and most of them are negative. The clients complain about difficulty withdrawing their funds, poor customer service, and fraudulent activities. The negative feedback suggests that Cowtrading Wealth Ltd is not a trustworthy broker.
About Their Trading
The clients complain that the trading conditions offered by Cowtrading Wealth Ltd are not transparent. The spreads and leverage are not clearly defined, and clients often end up losing money due to hidden fees.
About Their Customer Service
Clients complain that Cowtrading Wealth Ltd’s customer service is poor. The company is slow to respond to queries and often fails to provide satisfactory answers.
How Can Reviewsadvice Help You If You Get Scammed?
Reviewsadvice is a platform that provides resources and information to help people who have been scammed by an online broker. If you have been scammed by Cowtrading Wealth Ltd or any other online broker, you can contact Reviewsadvice for assistance. You will get a free consultation and some recovery service recommendations that will help you in recovering the process.
Final Thought
It is clear that Cowtrading Wealth Ltd is a scam broker that has been flagged by several regulatory bodies. The company is operating illegally in the UK and is not licensed by any reputable financial institution. The client feedback suggests that the company is involved in fraudulent activities. If you are interested in online trading, it is important to do your due diligence and choose a licensed and regulated broker.
