Western Crypto Unions LTD is a CFD broker registered on May 21, 2024. This broker primarily offers investment services in trading markets such as forex, cryptocurrencies, indices, stocks, energy, and commodities. It does not provide services to countries and regions where it may violate local laws or regulations.
Company Registration Information and Regulatory Status
According to public information on its website (westerncryptounion.com), Western Crypto Unions LTD was established in 2016, using "Western Crypto Unions" as its trading name, and is regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC).
After verification, no company named "Western Crypto Unions" could be found on the official websites of the Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC).
Therefore, Western Crypto Unions LTD (westerncryptounion.com) is actually a scam broker site with no company entity or regulatory oversight.
Account Opening Process
The process to open a trading account with Western Crypto Unions LTD involves visiting their website, clicking "Open Account" or "SIGN UP" on the homepage or in the top right corner, filling in personal information such as name and email, setting a password, and submitting the form. After verifying your account, you can successfully register.
Trading Instruments
Western Crypto Unions LTD offers a variety of trading products including forex, indices, commodities, stocks, and cryptocurrencies.
- Forex: Involves the exchange of different currencies, known for high liquidity, enabling traders to profit from exchange rate fluctuations.
- Indices: Allows speculation on the performance of an entire market or specific sector without trading individual stocks, offering diverse trading opportunities with high leverage to amplify potential returns.
- Commodities: Covers key global market resources, allowing traders to buy and sell various raw materials including metals, energy, and agricultural products.
- Stocks: Enables investors to partake in public company stock price movements, earning from price changes and dividends based on company performance, without actually holding the stocks.
- Cryptocurrencies: Offers digital currency enthusiasts an opportunity to profit from highly volatile assets.
Investment Plans
The Western Crypto Unions LTD website does not disclose information about account types, spreads, trading leverage, margin level, trading commissions, minimum/maximum trade sizes, maximum open/ordered positions, or minimum price increments.
Trading Platforms
Western Crypto Unions LTD claims to offer the MT4 trading platform, providing deep liquidity, up to 1:500 leverage, and the best spreads in the industry. However, no broker named Western Crypto Unions LTD exists on the MT4 platform after verification.
Deposits and Withdrawals
Western Crypto Unions LTD claims on its homepage to support user deposits and withdrawals via debit card, wire transfer, e-check, or check deposits. However, the "FAQ" page states that numerous deposit methods, including credit/debit cards and bank wire transfers, are not supported, offering only cryptocurrency deposits and withdrawals.
Conclusion
Traderknows reminds investors that Western Crypto Unions LTD is a scam broker website with no corporate entity and no regulation. It is recommended that investors choose brokers with transparent information, strong regulation, and good reputation for investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as a "Scam" on Traderknows.
