Wingo Markets is a forex broker registered in the Union of Comoros in 2023, mainly providing investors with foreign exchange, metals, commodities, stocks, indices trading services, the company's official website supports English, Spanish, Farsi, Arabic as the language of use. The Wingo Markets account registration page is also available in English, Spanish, Farsi and Arabic.
Company background:
Wingo Markets is incorporated in the Union of the Comoros and the Marshall Islands. Although the results of a query on the website of the Mwali International Service show that the information that the company is registered in the Union of the Comoros is true. However, according to the website of INTERNATIONAL REGISTRIES, INC., the company's registration in the Marshall Islands is no longer valid. In addition, the domain name registration information of the website queried by Whois shows that the company's official website domain name was registered on April 25, 2023, and the domain name registration time is not more than 1 year ago.
Account Registration:
MBFX official website information shows that the company provides investors with real account, demo account registration links. The way to register a real account is: Click "CREATE ACCOUNT" in the upper right corner of Wingo Markets official website, or "CREATE LIVE ACCOUNT" on the home page of Wingo Markets official website to go to the account registration page. After you select or fill in your name, date of birth, country, phone number, Email address, password and other information, you can complete the real account registration. The registration method of DEMO ACCOUNT is: click "CREATE DEMO ACCOUNT" on the homepage of Wingo Markets official website to enter the account registration page, select or fill in the name, date of birth, country, telephone, Email, password and other information according to the requirements, you can complete the demo account registration. In addition, the Wingo Markets account registration page is available in English, Spanish, Farsi and Arabic.
Account Type:
Wingo Markets website information shows that the company provides investors with Standard, ECN, RAW, VIP four different types of trading accounts. In addition, the Wingo Markets website also provides the differences between the four accounts in terms of minimum deposits, Forex and gold spreads, trading products, account currencies and more.
Trading Products:
According to Wingo Markets' official website, the company provides investors with foreign exchange, metals, commodities, stocks, indices trading services. In addition, although the Wingo Markets website provides specific trading products covered by Forex, metals, commodities, stocks, indices, as well as minimum trading units and overnight interest rates for specific trading products, However, Wingo Markets' official website does not provide the spread and maximum trading unit information for specific trading products covered by forex, metals, commodities, stocks, and indices.
Margin ratio:
Although the Wingo Markets website shows in the "Account type" that it offers margin (leverage) ratio up to 1:400, the Wingo Markets website does not provide margin (leverage) ratio information for specific trading products covered by Forex, metals, commodities, stocks and indices under different account types.
Trading Hours:
The Wingo Markets website does not provide trading hours for specific trading products covered by Forex, metals, commodities, stocks and indices.
Deposits and Withdrawals:
Although the Wingo Markets website shows that it may support the deposit and withdrawal methods and channels including B2BinPay, Advcash, but the Wingo Markets website does not provide the support of the deposit and withdrawal currencies, as well as deposit and withdrawal fees and time information.
Trading Software:
Wingo Markets provides investors with MetaTrader5 (MT5) trading software, which supports computer (Winodws), Web and mobile (IOS/Android) versions. However, the Android version of MT5 software in some countries or regions, there are problems that can not be downloaded or downloaded installation speed is slow.
Regulatory information:
According to Wingo Markets' official website, the company holds a U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN) Money Services Business license (MSB license). A query on the US Treasury's Financial Crimes Enforcement Network (FinCEN) website showed the information to be authentic. However, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) is the financial intelligence unit of the United States whose primary mission is to facilitate the detection, prevention, and deterrence of money laundering and terrorist financing, and does not regulate or authorize forex brokers.
Summary:
Wingo Markets is suspected of fraud. On the one hand, the results of a query on the website of the Mwali International Service show that the information that the company is registered in the Union of the Comoros is true. However, according to the website of INTERNATIONAL REGISTRIES, INC., the company's registration in the Marshall Islands is no longer valid. On the other hand, although the results of a query on the US Treasury's Financial Crimes Enforcement Network (FinCEN) website show that the information that the company holds a FinCEN MSB license is true. However, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) is the financial intelligence unit of the United States whose primary mission is to facilitate the detection, prevention, and deterrence of money laundering and terrorist financing, and does not regulate or authorize forex brokers. According to this judgment, Wingo Markets is suspected of fraud, and investors should be careful to choose the services provided by the company. TraderKnows reminds you, please pay attention to your property safety, to avoid falling into the fraud trap.
