WattumFx Trading is a contract for differences (CFD) broker registered on October 17, 2023. The broker mainly provides investment services in trading markets such as forex, cryptocurrencies, indices, stocks, energy, and commodities. It does not offer services to countries and regions where it may violate local laws or regulations.
Company Registration and Regulatory Status
According to the information on its official website (www.wattumfxtrading.com), WattumFx Trading was established in 2016 and is regulated by the Australian Securities and Investments Commission (ASIC). However, the broker does not disclose its company registration information and detailed regulatory details.
Upon investigation, no company named "WattumFx Trading" is found to be regulated by the Australian Securities and Investments Commission (ASIC).
Therefore, WattumFx Trading (www.wattumfxtrading.com) is effectively an unregulated fraud broker website.
Account Opening Process
The account opening process at WattumFx Trading: Visit the broker's official website, click on "Register" on the homepage or in the top right corner, fill in personal information such as name and email as required and set a login password, submit the form, and then complete the account verification to successfully register.
Trading Products:
WattumFx Trading offers a variety of trading products, including forex, indices, commodities, stocks, and cryptocurrencies.
- Forex: Forex trading involves the exchange of different currencies and is known for its high liquidity, enabling traders to profit from exchange rate fluctuations.
- Indices: Index trading allows speculation on the performance of an entire market or specific sector without trading individual stocks, offering diversified trading opportunities and the potential for high leverage returns.
- Commodities: Commodity trading covers key global market resources, allowing traders to buy and sell raw materials including metals, energy, and agricultural products.
- Stocks: Stock trading enables investors to participate in the price movements and dividends of public companies without actually holding stocks.
- Cryptocurrencies: Cryptocurrency trading offers digital currency enthusiasts the opportunity to profit from highly volatile assets.
Investment Plans
WattumFx Trading offers four types of investment plans: STARTER ACCOUNT, CLASSIC ACCOUNT, PLATINUM, FOREX SIGNALS.
STARTER ACCOUNT:
- Minimum deposit: £500
- Expected minimum profit: £3,500
- Expected maximum profit: £5,000
- Trader education*
- Risk management
- Tax-free spread trading profits
CLASSIC ACCOUNT:
- Minimum deposit: £5,000
- Expected minimum profit: £45,000
- Expected maximum profit: £50,000
- Expert news and analysis
- Competitive spreads
- Advanced trading tools
- Tax-free spread trading profits
PLATINUM:
- Minimum deposit: £10,000
- Expected minimum profit: £99,999
- Full benefits
- Trader education*
- Advanced risk management
- Tax-free spread trading profits
FOREX SIGNALS:
- Professional forex signals
- Up to 10 signals per day
- 95% success rate
- 24/7 support
- Advanced trading tools
- Bitcoin payments only
- Use any broker
Trading Platform
WattumFx Trading provides a self-developed trading platform, claiming an average order execution speed of less than 7.12 milliseconds, with more than comprehensive liquidity providers, and over 12,000 orders executed per second.
Deposits and Withdrawals
WattumFx Trading only supports deposits and withdrawals via cryptocurrency.
Conclusion:
Traderknows reminds investors that WattumFx Trading is a scam broker that lures investors with promises of high returns. This site is not subject to any regulation. It is recommended that investors choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as a "Scam" on Traderknows.
