WFIcorp Key Facts
🔴 WFIcorp offers questionable investment schemes- a clear sign of a scam!
🔴 WFIcorp does not provide sufficient contact information – beware!
🔴 WFIcorp lacks the appropriate license for the provision of its services – a huge red flag!
🔴 WFIcorp's domain is incredibly obscure – another off-putting detail!
WFIcorp products and services
WFIcorp offers incredible return rates on investments – the most modest plan with the company promises return rates of at least 10% daily. This is not something that a legitimate company would be able to accomplish – WFIcorp is simply trying to pocket as many deposits as it can.
People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.
WFIcorp company and regulation
WFIcorp is not a regulated, legitimate company – we say that with complete certainty and WFIcorp does not provide any sort of document to disprove this claim of ours.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
WFIcorp address and contacts
WFIcorp does not provide us with a physical address – all we have to go on is this phone number – +1(512) 630-0959. However, fake phone numbers can be generated by the thousand, and this is not sufficient contact information.
Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.
WFIcorp website info
WFIcorp has been online since late 2019 – all this time and it has failed to obtain a license – that can only mean that the company has no intention of acquiring one, and it confirms the suspicion we are dealing with a scam.
The domain is hosted on this States IP address – 126.96.36.199. There is a large amount of other websites hosted on it – 1462. We cannot say if any of them are connected to WFIcorp at time of writing, however.
The domain is also quite unpopular, with SimilarWeb not even listing it, which is another can of worms entirely.
Finally, the owners of the website have shielded themselves from WhoIs lookups, and, in doing so, have failed to live up to the standards of transparency outlined above.
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.