CYOWV is a brokerage firm offering CFD trading services, with its domain registered on July 18, 2024. The company serves both retail and institutional clients, providing a range of financial derivatives trading services including forex, precious metals, crude oil, indices, and cryptocurrencies. It does not offer services to jurisdictions where such services might violate local laws or regulations.
Company Background and Regulatory Status
According to information on the CYOWV website, the company was established in 2002, headquartered in London, UK, with branches in the USA, Vanuatu, and Sydney, Australia. It claims that its subsidiaries are regulated by the US Financial Crimes Enforcement Network (FinCEN) and registered with the National Futures Association (NFA), subject to strict audits and supervision. Additionally, CYOWV claims to be regulated by the UK Financial Conduct Authority (FCA), with license number 146311.
It is worth noting that CYOWV does not provide any corporate full name, registration number, or disclose complete terms of service and legal documents on its website, raising questions about the authenticity and legitimacy of its online content.
Upon verification, there is no company named CYOWV registered on the official websites of the US Financial Crimes Enforcement Network (FinCEN) and the National Futures Association (NFA). Moreover, the FCA website shows that license number 146311 is actually assigned to AMT Futures Limited, whose website is www.amtfutures.co.uk and has no affiliation with CYOWV. Clearly, CYOWV has misappropriated the license information of AMT Futures Limited in an attempt to mislead investors.
Furthermore, the design and content of the CYOWV website use the same template as some brokerages that have been identified as scams, such as ATF Trade Limited, dbgmarkentskinlted.com, XM Defi, AUS GLOBAL Textdiy, moneynetint.pro, and Lenmax.
Trading Products
CYOWV offers a variety of financial derivatives for trading, including:
- Forex Trading: Trade numerous major currency pairs such as EUR/USD, USD/CAD, GBP/USD, USD/JPY, and more.
- Precious Metals Trading: Supports spot trading of gold (XAUUSD) and silver (XAGUSD).
- Crude Oil Trading: Offers trading services for US crude oil (UsOIL).
- Index Trading: Supports trading indices like the Nikkei 225 (N225), German DAX (GER30), and S&P 500 (US500).
- Cryptocurrency Trading: Supports trading of major cryptocurrencies such as Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), and others.
Account Opening Process
Testing has shown that CYOWV has closed its online account opening link, making it currently impossible to open an account.
Trading Account Information
The CYOWV website only provides basic information regarding spreads, trading leverage, and contract sizes. However, it does not disclose crucial information about account types, trading commissions, minimum/maximum trade sizes, maximum positions/orders, margin call/stop-out levels, or minimum price increments.
- Base Currency: USD
- Spreads: Floating spreads starting from 1 pip
- Trading Leverage: 1:100 - 1:500
- Margin Call/Stop-Out Levels: 100%/50%
- Contract Size: 1 lot = 100,000 currency units
Trading Platform
CYOWV claims to offer the ST5 trading platform, available for both desktop and mobile, providing over 50 technical indicators and intraday analysis tools. However, the ST5 design is rudimentary and typically used by scam brokers, and the provided mobile download links are non-functional.
Deposit and Withdrawal Information
CYOWV does not clearly disclose supported deposit and withdrawal methods, fees, or minimum deposit and withdrawal amounts on its website.
Conclusion
Traderknows reminds investors that CYOWV is a suspicious broker website lacking a company entity and regulatory oversight. Investors are advised to choose brokers with transparent information, strict regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
