Honest WasixCap Review: The Good, the Bad, and Everything In Between

WasixCap Review, Have you heard of WasixCap? Sadly, this broker engages in some of the most common behaviors associated with scammers. It misleads clients about its address and regulations and withholds crucial information you might expect. Plus, its bonuses seem shady and its deposit policy is questionable. 

But it gets worse – the broker doesn’t offer demo accounts, and you need a promo code to sign up, which is a red flag. We couldn’t get our hands on a promo code, and scammers use this same strategy to appear more exclusive. They even reach out to people and use mass e-mails to lure unsuspecting victims in. To protect yourself from this dangerous broker, keep reading this WasixCap review. 

Is WasixCap Licensed and Regulated? Here’s What You Need to Know

One of the concerning things we found about WasixCap is that it lies about its regulation. This is just as bad as not being regulated at all. This means that clients cannot expect any important protections that come with working with a regulated broker. WasixCap claims to have an address in the Swiss Federation, which has strict regulations for its FX markets. 

To become a broker in Switzerland, a company needs a minimum of 20 million CHF in liquid capital. Since WasixCap doesn’t have that kind of liquidity, it cannot claim to be regulated. However, clients may still think the firm is licensed just because of its Swiss address. It’s crucial to always demand explicit proof that a company is authorized to offer services where it claims to have offices.

If a company is not licensed, it’s likely that it’s an offshore firm registered in one of the many fraud havens out there. These small nations don’t oversee their markets, making it easier for scammers to take advantage of clients without fear of legal consequences. As a result, it’s important to avoid unlicensed entities like WasixCap or Profit Trade to protect your hard-earned money.

Trading Platform Available

When it comes to the trading platform of WasixCap, we didn’t have access to it, so there’s not much to report on. However, from the promo materials on their website, it seems to be a simplistic web-based software. This software certainly lacks the features of established industry-standard trading software. These kinds of lackluster platforms are nothing special. 

Yet, we have a more pressing concern – the software of unlicensed firms like WasixCap can always be manipulated. This means that no matter what platform they offer, the fraudsters behind the firm can easily conceal the fact that they’ve stolen your money. As a result, we cannot stress enough how crucial it is to never trade with an offshore entity, even if they claim to have MT5, cTrader, or any other platform. Your money and financial security are too important to gamble with.

WasixCap Trading Accounts: Unveiling the Hidden Truths

WasixCap claims to offer five account types to serve its clients in the best way possible. However, we strongly advise potential investors to be careful and conduct thorough due diligence before committing any funds to this broker. 

The account types they list are Basic, Silver, Gold, Platinum, and VIP, each requiring minimum deposits ranging from €1500 to €150,000. The Silver account offers a 30-day trial of a managed account, the Gold account includes membership and the Platinum account supposedly grants access to 5 different markets. The VIP account, on the other hand, has WhatsApp dealing access, although it’s unclear what additional benefits it provides beyond that. 

Still, it’s important to remember that these claims are made by an unlicensed and suspicious broker, and investors should be extremely cautious when considering any investment with WasixCap.

Deposit and Withdrawal Methods

Bogus brokers have a knack for making it difficult for clients to withdraw their funds, and we cannot guarantee that WasixCap is any different. This broker hasn’t provided any relevant details about its payment procedure. However, based on the usual dirty tricks of fraudulent firms, we can warn you about what to expect. For instance, illegitimate brokers tend to offer bonuses that are tied to unrealistic trading volumes before clients can cash out. Beware of such promos. 

Another red flag is withdrawal fees – legit brokers don’t charge them, but bogus entities thrive on them. They can go as high as 20% of your withdrawn amount! Lastly, don’t be surprised if the broker refuses to process your withdrawal request if it falls below a certain amount, which is often higher than your total deposit. Don’t fall for the tricks of these dubious brokers!

Exposing the Fraudulent Tactics of Offshore Brokers

Offshore brokers have been known to use awful tactics to scam their clients out of their money. These illegitimate firms often issue bonuses that are nearly impossible to achieve due to their high trading volume requirements, preventing clients from ever being able to withdraw their profits. 

Another tactic these brokers use is charging abnormal fees on withdrawals, further discouraging people from accessing their funds. In addition, these entities often set minimum withdrawal amounts that are so high that clients may never be able to meet them, trapping their funds with the broker indefinitely. Try to choose a reputable broker that is licensed and regulated. Do that to protect your investments.

Final Thoughts

WasixCap is an unlicensed and suspicious broker that lies about its regulations and address. What’s more, it fails to provide information on payment procedures. With a minimum deposit of €1500, WasixCap offers five account types but no demo accounts. 

The trading platform is simplistic, and unlicensed firms like WasixCap can manipulate the software, making trading a risky gamble. It’s crucial always to demand clear proof that a company is authorized to offer services where it claims to have offices. It’s also crucial to avoid unlicensed entities such as WasixCap and Moxium to protect your money.

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