WisunoFX is a forex and contract for difference (CFD) broker that was registered in Saint Vincent and the Grenadines on August 23, 2013. The company primarily offers financial trading services, including forex, commodities, and index CFDs to investors. However, the headquarters of the company is unknown. The broker's official website supports languages such as English, Simplified Chinese, and Thai. It explicitly states that it does not provide services to jurisdictions where it may violate local laws or regulations, including but not limited to the United States, Belarus, Canada, the United Kingdom, the European Union, Hong Kong, Australia, Israel, and Japan.

Corporate Background and Regulatory Status:

The registered entity of WisunoFX with the Financial Services Authority of Saint Vincent & the Grenadines (SVGFSA) is WISUNO International Inc, located at Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines, with the registration number 21559. SVGFSA does not regulate, monitor, oversee, or license Business Companies (BCs) engaged in forex trading or brokerage activities. Their regulatory scope is limited to ensuring that BCs comply with the obligations stipulated in the 2009 revised Chapter 149 of the International Business Companies (Amendment and Consolidation) Act of Saint Vincent and the Grenadines. Information obtained from a Whois query indicates that the broker's official website was registered on September 11, 2023.

In Cyprus, WisunoFX is registered as WISUNO CAPITAL LIMITED, with registration on December 9, 2019. The company's address is Office No.015 3 Archiepiskopou Kyprianou, 1st Floor, Apartment 12, 6016, Larnaca, Cyprus, and the registration number is 405021. In Seychelles, the registered entity is WISUNO LIMITED with the registration number C8434972. The broker claims on its official website to be authorized and regulated by the Financial Services Authority of Seychelles (FSA) and the Cyprus Securities and Exchange Commission (CySEC). However, upon verification, the broker does not have authorization or regulation from these financial regulatory authorities, indicating misleading advertising.

Account Opening:

To open an account with WisunoFX, users need to click on the "Start Trading Now" button on its official website to access the registration interface. In the first step, users are required to provide their name, nationality, personal phone number, email address, and set a password. The second step involves providing more detailed personal information and uploading personal identification documents. The third step is to choose the type of trading account, and the fourth step is to submit and await approval.

Account Types:

WisunoFX offers users a demo account and three different types of real trading accounts: ACCOUNT STP, ACCOUNT PRO, and ACCOUNT ECN. All three account types have a maximum trading leverage of 1:500, support micro lot trading, have a maximum order size of 100 lots, allow unlimited pending orders, support negative balance protection, permit hedging, support Expert Advisors (EAs), and offer the option of an interest-free account. The differences among them are as follows:

ACCOUNT STP has no minimum deposit, no transaction fees, and a starting spread of 1 pip.
ACCOUNT PRO has a minimum deposit of $5000, no transaction fees, and a starting spread of 0.8 pips.
ACCOUNT ECN has no minimum deposit, charges transaction fees, and has a starting spread of 0.0 pips.

Trading Platform:

WisunoFX provides users with the MT4 trading platform, available on both desktop and mobile. The servers are provided by WISUNO International Inc, and the trading name is Wisunolnternational.

Deposits and Withdrawals:

WisunoFX only supports deposits and withdrawals through UnionPay and blockchain. Deposits via UnionPay are credited instantly, and the broker does not charge any fees for deposits. Deposits using blockchain take approximately 30 minutes for funds to reach the account, and the broker charges a 1% fee for blockchain deposits (reimbursable upon request). There are no withdrawal fees for both deposit methods.

Customer Support:

Users can only contact WisunoFX for customer support via email at support@wisunofx.com and the online contact form on the broker's official website.

Summary:

Traderknows advises traders that WisunoFX is a platform with no regulatory oversight, yet it falsely claims to have authorization and regulation from the Financial Services Authority of Seychelles (FSA) and the Cyprus Securities and Exchange Commission (CySEC). Traders are urged to avoid this platform when selecting a trading platform to prevent potential financial losses. Currently, the broker has been flagged as "suspected fraud" on Traderknows.