Wide High Limited is an online forex broker offering services in forex, commodities, indices, precious metals, and energy. However, the corporate registration information for Wide High Limited is unclear, and it is not regulated by any regulatory authority. Many pieces of information on the official website are also opaque. Wide High Limited website: https://wanyouheng.com/index.html, currently only supports English, Traditional Chinese, Japanese, and Vietnamese.
Corporate Entity Information of Wide High Limited:
Wide High Limited claims to have been operating in London since 2006, a statement aimed at establishing its image of long-term stability. However, a search in the UK's Companies House registry does not reveal any registration information matching the company's name. This situation could mean several possibilities: the company may not be registered in the UK, might be using a different registered name, or its claimed establishment duration and location do not match the actual circumstances. Furthermore, the domain name registration date for the company's website is October 27, 2023, starkly inconsistent with the claimed long-term business operation history, which could raise concern amongst potential investors and partners.
Regulatory Information of Wide High Limited:
In the financial services sector, regulatory information is an important criterion for judging a company's legality and stability. Wide High Limited has not provided any regulatory information, which might indicate that the company is not formally regulated by any financial regulatory authority. The absence of regulatory information means a higher risk for potential clients and investors, as they may not have access to protective measures provided by regulatory bodies, such as investor compensation schemes or dispute resolution services.
Account Opening Process at Wide High Limited:
- By clicking "Register Account" on its platform
- Filling in your email, password, and other necessary information completes the registration process
- After completing the above steps, you can start trading activities.
Account Types at Wide High Limited:
Wide High Limited does not specify the different types of accounts on its official website, which may limit potential customers' understanding of the comprehensiveness and adaptability of its services. It's common practice in the industry for a company offering a diversified range of financial products to provide different account types to meet various investor needs, thus, this omission could affect the company’s ability to attract a broad customer base.
Trading Products at Wide High Limited:
Forex:
Wide High Limited offers trading in over 40 currency pairs, claiming to have institutional-grade spreads starting from 0 pips and up to 1:200 leverage, as well as the ability to execute trades swiftly. This indicates the company's commitment to providing competitive trading conditions for forex traders.
Indices:
By defining as a portfolio representing a specific market or market sector, Wide High Limited offers trading in more than 10 instruments of indices, along with tight spreads, no markups, and up to 1:100 leverage.
Precious Metals:
Clients can trade in precious metal CFDs and commodity ETFs, including gold, silver, platinum, palladium, as well as XAU/USD and XAG/USD, with a minimum deposit of $10 and leverage up to 1:100, indicating the company supports hedging trades under political instability.
Cryptocurrencies:
Offers trading in over 30 cryptocurrency instruments, including Bitcoin and Ethereum, with 1:50 leverage and around-the-clock trading hours, highlighting the potential of cryptocurrencies as investment and speculative tools.
Energy:
In the energy market, trading opportunities include crude oil, natural gas, and future CFDs, suitable for day traders, offering tight spreads and up to 1:100 leverage.
Trading Software at Wide High Limited:
Wide High Limited offers the ST5 trading platform, supporting mobile and computer versions, but seems to have encountered technical issues. The official website's page for the Apple version cannot be accessed normally, and the Android version's service page is also unfindable. Such technological problems could negatively impact users wishing to trade via mobile devices, restricting their trading flexibility and platform accessibility.
Leverage at Wide High Limited:
Wide High Limited offers clients a variety of financial products, including forex, indices, precious metals, cryptocurrencies, and energy, with different spreads and leverage settings. The forex market spreads start from 0 pips, with leverage up to 1:200; indices and precious metals trading max out at 1:100 leverage, while cryptocurrency and energy products have maximum leverages of 1:50 and 1:100, respectively. These conditions reflect the trading conditions offered by the company across different markets, but potential clients should carefully consider the risks of using leverage.
Deposit and Withdrawal Process at Wide High Limited:
Wide High Limited does not detail the specific process for deposits and withdrawals on its official website, which could be inconvenient for potential clients wanting to understand how to manage their funds. In modern financial trading, a quick and transparent deposit and withdrawal process is one of the basic requirements, as it directly relates to liquidity and user trading experience. The lack of this information may lead investors to question the platform's reliability and efficiency.
Social Media of Wide High Limited:
The company's official website does not mention any social media channels, which is very uncommon in today's society. Social media is a crucial platform for modern businesses to communicate with customers, not only for posting the latest news and updates but also as a means for interaction and customer support. The absence of a social media presence might indicate a lack of adequate communication and marketing strategy by the company, potentially affecting its brand awareness and customer satisfaction.
Customer Support at Wide High Limited:
Wide High Limited provides customer support through an email address (support@wanyouheng.com). While email is a common communication method, it may not be the most effective solution for customers needing immediate help. In today's age of widespread multi-channel communication, offering various customer support channels (such as phone, online chat, social media, etc.) could significantly enhance the efficiency and satisfaction of customer service.
Summary:
Wide High Limited lacks corporate registration information and regulation. It exhibits significant transparency issues in several key areas of its service, including unclear leverage options, missing detailed deposit and withdrawal procedures, failure to engage with customers on social media for interaction and branding, and providing customer support only via email. These gaps in information could adversely affect potential clients, prompting them to be cautious about the financial services offered by the company. In the competitive financial services market, a lack of transparency and effective customer communication channels might limit the company's appeal and customer satisfaction. Currently, Wide High Limited is flagged as "Suspected Fraud" on Traderknows.
