FOSTER WEST is a platform that claims to specialize in currency investment and management. The domain was established on October 14, 2009, and the official website indicates the operational address is in New York, USA. However, we were unable to find the company's registration information on the New York government's official website. Additionally, although the platform claims to be authorized and regulated by the Australian Securities and Investments Commission (ASIC), the actual situation contradicts this claim. The official website of FOSTER WEST is https://fwmarket.com/
Corporate Background of FOSTER WEST:
The domain of FOSTER WEST was established on October 14, 2009. However, the platform first appeared on February 9, 2024. The official website lists its operating address as 36/F, One New York Plaza, 1 Whitehall St, NY 10004, USA. Nonetheless, we could not locate any registration information for this company on the New York government's official website.
Regulatory Information of FOSTER WEST:
FOSTER WEST claims to provide trading services in forex, indices, precious metals, and cryptocurrencies, and asserts it is authorized and regulated by the Australian Securities and Investments Commission (ASIC), with the regulation number 230325. However, our search on ASIC revealed that the associated company is FOSTER WEST SECURITIES PTY LTD, whose authorization does not cover retail forex trading and has no registered website for verification. This indicates that the platform is not genuinely regulated, and hence, depositing funds for trading is not advisable.
FOSTER WEST Account Registration Process:
- Visit the FOSTER WEST official website and click the registration button
- Complete the application form
- Submit identification/number verification documents
- Deposit funds and start trading
FOSTER WEST Account Types:
FOSTER WEST's official website does not provide specific information about its account types. Currently, it is unclear whether FOSTER WEST offers different types of trading accounts to meet the varying needs of investors.
FOSTER WEST Trading Software:
FOSTER WEST has yet to disclose detailed information about its trading software.
FOSTER WEST Trading Products:
The official website of FOSTER WEST does not provide specific product information, merely stating that it focuses on currency investment and management. This vague description lacks detailed information on specific trading products, service details, and operational models. For potential investors, this lack of transparency could increase investment risk.
What are the Spreads, Leverage, and Commissions of FOSTER WEST?
FOSTER WEST's official website does not disclose details such as spreads, trading leverage, trading commissions, minimum/maximum trading volume, maximum position/order size, margin and stop-loss levels, minimum price precision, and contract size.
FOSTER WEST Deposit and Withdrawal Methods:
FOSTER WEST's deposit and withdrawal methods are not specifically introduced on its official website. Generally, traders may be able to use various common payment methods, including bank transfers, credit cards, and electronic wallets.
FOSTER WEST Customer Support:
Email:CS@FWMARKET.COM
Phone: +1 (315) 683 3003
Conclusion:
Although FOSTER WEST claims to provide various financial trading services and to be regulated by authoritative regulatory agencies, its lack of transparent corporate background and specific product information raises doubts about its credibility. The inability to verify company registration information and valid regulatory records on relevant government websites further increases investment risk. The absence of detailed account types, trading software, and trading conditions is concerning for potential investors, as this lack of transparency may increase investment risk. Investors should carefully verify the legality and transparency of the trading platform to ensure the safety of their funds. FOSTER WEST is listed as " Suspected Fraud" on TraderKnows.
