Is WSXPRO forex regulated or a scam? Well, this article is going to give you information about WPSPRO and how safe it is for you to invest your money with them.
WSXPRO which means Wealth Standard Exchange that provides immediate execution and low spreads for forex and crypto. WSXPRO is a brand of WSXLLC registered in St. Vincent and the Grenadines Service Authority. The SVGSA is a local regulator that doesn’t regulate forex brokers.
There are only three regulatory authorities that issue brokerage lincense
- The Cyprus Securities and Exchange Commission
- The Australian Securities and Investments Commission
- The Financial Conduct Authority(FCA)
WSXPRO isn’t regulated under any of these authorities, and so that makes them a scam. They are an unregulated broker and so they must not be trusted. Every broker company who is authorized has a unique ID number, which clearly, WSXPRO doesn’t have.
Mode Of Operation
The WSX has different account types in which they have different commission fees and minimum spread in which you can register with:
- Standard account
- Pro account
- Var account
- Mini account
In WSX, they have a minimum deposit requirement of about $25 to open an account. This is quite enticing to traders, as this is a low deposit charge for them. However, they only accept 7 Most Profitable Investment Opportunities Today and this makes it more suspicious, because it is a digital coin and may not be traced if the money is gone.
They have a managed account agreement when you sign up with them. This implies that, they have the right to do anything with your account and so even if you ask for a refund, they can choose to neglect you except if you do a ‘chargeback’.
They try to create a comfortable and enabling environment for you to be able to invest your money in them.
We have carefully reviewed this company, we advise that investing in WSXPRO that is not regulated is very risky and so we would want you to avoid it at all cost. You can check out for other regulated broker companies to invest in.