Wealthsailing Forex broker promises too much and delivers too little. While their website claims you’ll get to build your trading account with the best of the best, we lack basic information. And even what we were given is false. Read our WealthsailingForex review and get all the details.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | wealthsailingforex.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | Wealth Sailing Forex Limited |
| Headquarters Country: | USA (allegedly) |
| Foundation year: | N/A |
| Supported Platforms: | MT5 |
| Minimum Deposit: | N/A |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:100 |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
What About WealthsailingForex Regulation?
Wealthsailing Forex brand is owned by Wealth Sailing Forex Limited, allegedly based in the US. However, the website doesn’t mention any regulations, keeping the firm’s regulatory status anonymous. Since the operation has been running since 2016, if we trust the web page, there’s a big question – how comes the firm has never opted for CFTC or NFA license. The US regulatory bodies are considered the firmest in the financial market, and providing unregulated trading services is a significant legal breach.
Why Is It Important For A Broker To Be Licensed?
Every investment firm has to be licensed for a few reasons. The first and foremost is your safety. Tier1 regulators such as CFTC, NFA, FCA, or BaFin, ensure that Forex firms have compensation funds and can reimburse potential victims.
Since WealthsailingForex operates illegally, you will be denied any refund claims.
Also, stay away from unregulated brokers like Aax, CryptoHold, and FinanBelt if at all possible.
Traders Reviews About WealthsailingForex
Traders have shared their impressions of WealthsailingForex broker, and we can say, not positive. Basically, the firm seems all good at the start, but once they get ahold of your funds, they won’t bother answering the calls or giving any information about withdrawals.
Since the reviews match our investigation so far, we advise you to avoid the WealthsailingForex scam.
What Platforms Does WealthsailingForex Offer? – Available Trade Software
The broker offers MT5, one of the best industry software there is.
Metatrader 5 Is Provided At WealthsailingForex
While this would be terrific news if the company was legitimate, here we have several things to mention. It doesn’t matter how good the platform may be. If you have been offered unregulated trading conditions or some basic information, such as spreads and fees, weren’t disclosed, it’s pretty apparent that you won’t make any profits.
WealthsailingForex – Where Does The Broker Operate?
As per our review, the main target of the WealthsailingForex trading scam is Canada and the US. Yet, the firm is not licensed to provide financial services anywhere, so wherever you reside, you may end up a victim.
In the first place, to prevent being scammed, always ensure to check if the investment firm is an honest company or a shell firm and if the broker has a valid Tier1 license.
WealthsailingForex Range of Trading Instruments & Markets
The firm provides investors with access to the following markets:
- Currency pairs – EUR/USD, JPY/USD
- Commodities – gold, oil, silver
- Indices – NASDAQ, Dow Jones
- Shares – Amazon, Apple, Google
- Cryptocurrencies – BTC, ETH, XRP
Likewise, keep in mind the names of trading scammers Empire FXM, Empire FXM, and Oriontero and avoid them! As a result, always check the history of internet trading organizations before investing!
Where Does The Broker Promote The Company?
According to traders’ reviews, they were lured into investing with this firm through Facebook ads and messages. Also, they received a message from a person they don’t know, telling them all about this fantastic trading opportunity that brings profits within hours and inviting them to join. Besides, the broker promotes its services through paid ads.
WealthsailingForex Minimum Deposit
WealthsailingForex has never disclosed its minimum deposit. It means you will have to wait for a call from the broker’s employees to evaluate your financial situation and decide how much you can afford to lose. Only then will you be asked for a certain amount of money as your initial deposit.
WealthsailingForex Trading Conditions and Leverage
While the broker says to offer a low point difference for spread, we haven’t found any information on how much the EUR/USD spread is. Besides, there’s no mention of any fees or commissions. That is to say, all we know is that the firm offers unregulated leverage up to 1:100.
Moreover, US regulators have set a limit on 1:50 for the Forex market, meaning that broker WealthsailingForex offers double as regulated, putting your funds at double the risk.
WealthsailingForex Deposit, Withdrawal Methods, and Fees
The firm accepts deposits via crypto. While there are several accepted coins, this means that your transactions are encrypted, and funds are harder to track. It also means that your transaction is not eligible for a chargeback, but there are other steps to be taken.
When it comes to withdrawals and fees, this firm hasn’t specified anything, and it doesn’t have a Withdrawal Policy.
Scammed by WealthsailingForex Broker? – Let Us Hear Your Story
If you were scammed by WealthsailingForex broker or a similar bogus investment firm, let us know. While crypto transactions may be hard to follow, it’s not impossible to find a wallet and recover your funds. We have means and knowledge, and all we need is to hear your story.
Our experts will evaluate your case during a free consultation to ensure you get the best recovery options. Contact us right away, and let’s start.