Uncertain about webxtrader.com platform? Is WEBX FX a safe broker? Let’s read reviews to know about this forex broker.

This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.

About WEBX

WEBX FX otherwise known as webxtrader.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients. 

What’s more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.

Is Webxtrader.com Regulation Claim Genuine?

First of, Webxtrader.com presents its website is incorporated in St. Vincent and the Grenadines. 

But, Saint Vincent and the Grenadines SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.

Next, the broker also claims to be licensed in the United Kingdom as it’s “registered in Company House UK”.  The actual regulator in the UK is the Financial Conduct Authority (FCA) and after we searched its registers we can assure you that WEBX is not authorized to offer financial services in the UK.

Furthering, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.

These drawbacks are for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.

Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website

Does WEBX Have Account Types?

WEBX FX offers variety of trading account for clients like Micro, Premium, WEBX Copy, Zero spread and Islamic account. According to the website, the broker leverage is capped 1:1000.

WEBX FX deposit is indicated $100 according to the account type. While this may appear reasonable for a start, the broker has not shown its legitimacy.

In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.

As for the broker funding methods, WEBX FX only accepts deposits in Bitcoin. There are a few reasons why scam brokers prefer to receive payments in crypto. One, transactions are irreversible and untraceable.

Webxtrader.com minimum withdrawal amount is said to be 10 USD for bank transfers and 1 USD for the rest of the payment methods.

Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!

WEBX Trading Software

WEBX offers web trading software. The platform comes with some basic tools and custom indicators but nothing more advanced.

Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

Argument Against WEBX Licensing and Regulation

Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.

Having said that, it is not far from believing that Webxtrader.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

Verdicts:

WEBX FX located at webxtrader.com appears like a genuine trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, this broker lacks one important indicator which is – it license. Following this, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.

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