Wanfuhk review – Is Wanfuhk.com scam or safe?

Wanfuhk review – Is Wanfuhk.com scam or safe?

Caution! Wanfuhk is an offshore company! Your funds may be at risk.


Wanfuhk.com Key Facts

🔴 Wanfuhk.com is an anonymous broker claiming to have a presence in Europe, but they hold no license to operate there. Red flag!

🔴 Wanfuhk.com refuses to reveal important information about themselves and their legitimacy. Red flag!

🔴 Wanfuhk.com co-hosts other suspicious, shady brokers. Disturbing sign!

Wanfuhk.com registration, license and regulation

Wanfuhk.com claims to be a truly global broker with presence in Europe, as well. But we found no European license whatsoever, so it's an illegal broker operating on regulated markets without the proper authorisation. Traders should only use regulated companies' services because these companies are legit and reliable. The unlicensed illegal brokers such as Wanfuhk.com are thieves investors have to avoid.

Each broker presented in US have to be an NFA member and registered with CFTC.

The regulations in USA are quite heavy, compared to other domains. The capital adequacy requirement state Forex brokers have to provide minimum 20 million USD in paid-up capital to get a US license. Also clients’ funds should be kept in segregated accounts, making it impossible for brokers to misuse the capital for daily expenses.

The restrictions on Forex trading in USA includes a maximum allowed ratio of 1:50. Clients are also limited by the FIFO rule (first in, first out), meaning traders have to close their positions consequently. Hedging is also disallowed, which some traders might find restricting.

Wanfuhk.com address and contacts

Wanfuhk.com refuses to disclose their headquarter address and contact numbers. It's only possible to reach them via e-mail, and that's not ordinary for a trustworthy broker. The legit FX companies are bound by the law to reveal who they are. This shady broker's secretive nature indicates it's most probably a scam.

Wanfuhk.com website information

Wanfuhk.com has a Hong Kong IP address co-hosting the websites of 8 other shady Forex brokers. Wanfuhk.com was created on 17.02.2020, so it’s less than a year old at the time of writing. The age isn't a problem itself, but it's a disturbing sign given the claims they make. We believe Wanfuhk.com is one of many brands created by a group of shady individuals who want to steal as much as possible from traders and investors.

Cinda-securities.com, scforex.hk, bedbrook.net, werder.uk, hkkaiser.net, cheonan.uk, wanfuhk.com and  sunanc.net are also hosted on IP

Scam warning

We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority. 

However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.

Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.

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