Note: Wasixcap official site - https://wasixcap.com/ is currently on sale and not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is Wasixcap？
Wasixcap is a web broker who offers online trading services to global clients including Cryptocurrency, Forex, Stocks, Indices, Commodities. However, concerns arise due to the absence of regulatory oversight and a dormant website which cannot be opened so far, casting doubts on its operation and reliability.
In the following article, we will analyse the characteristics of this company in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
Pros & Cons
Pros:
Tiered accounts: Wasixcap offers 5 tiered accounts, which can provide traders with options that best suit their trading needs and experience levels.
Web-based MT5 platform: The availability of a web-based MT5 platform allows for convenient access to trading from both PCs and mobile devices, offering flexibility for traders.
Cons:
No regulation: The absence of regulatory oversight raises concerns about the broker's adherence to industry standards and protection of clients' interests.
Website unavailable: Ongoing issues with website accessibility can disrupt trading activities and undermine the reliability of the platform.
Scam report on WikiFX: Reports of scam activities on platforms like WikiFX raise red flags about the broker's legitimacy and trustworthiness.
Lack of transparency on spreads/commission, etc.: Insufficient transparency regarding trading costs such as spreads and commissions can lead to uncertainty and higher trading expenses for clients.
High minimum deposit: A high minimum deposit requirement from €1500 can deter interested traders, particularly those who are new to trading or have limited capital to invest.
Is Wasixcap Legit？
When considering the safety of a brokerage like Wasixcap or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
User feedback: For a deeper insight into the brokerage, traders should read reviews and feedback from existing clients. These valuable inputs from users, available on trustworthy websites and discussion forums, can provide firsthand information about the broker's operations.
Security measures: Wasixcap is said to provide top-tier encryption and authentication measures to ensure the safety of your account. They employ two-factor authentication and use 256-bit SSL encryption to ensure your data is secured from intruders. In addition, Wasixcap provides daily backups of your account information and other data, so you can rest assured your data can be retrieved in case of missing.
In the end, choosing whether or not to engage in trading with Wasixcap is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities.
Market Instruments
Wasixcap offers a diverse range of market instruments to cater to the trading preferences of its clients. From cryptocurrencies to forex, stocks, indices, and commodities, traders have access to a wide array of assets to build diversified portfolios or focus on specific markets of interest.
Account Types
Wasixcap presents a comprehensive selection of account types to accommodate a wide range of investor preferences and financial goals.
Starting with the Basic account, requiring a minimum deposit of €1500, clients can gradually access higher tiers such as the SILVER account with a minimum deposit of €25,000, GOLD account with €50000, and PLATINUM account with €150,000. Each tier offers escalating benefits and privileges, tailored to enhance the trading experience and meet the evolving needs of investors.
Additionally, the exclusive VIP account, with deposit requirements determined by the account manager, provides personalized services and customized solutions, ensuring top-tier support and guidance for discerning clients.
Note that minimum deposit is quite high comparing with most brokers, you should take this into considertation and only invest the capital amount you have and can accept.
Leverage
Leverage plays a crucial role in trading, allowing investors to amplify their market exposure with a smaller initial investment.
With leverage ratios ranging from 1:25 for Basic, SILVER and GLOD accounts to 1:100 for PLATINUM account, and up to 1:200 for VIP accounts, Wasixcap provides varying degrees of leverage to suit different trading strategies and risk appetites.
While higher leverage can lead to increased profits, it also entails greater risk, as losses can be magnified proportionally. Therefore, you should carefully assess your risk tolerance and employ appropriate risk management techniques when trading with leverage.
Trading Platofrm
Wasixcap provides a convenient web-based MT5 platform for trading accessible on both PCs and mobile devices. While an app may not be available, traders can still seamlessly access the platform through their preferred web browser, offering flexibility and accessibility on the go.
Customer Service
Wasixcap offers limited customer support with only address and phone assistance available. This restricted range of support channels can lead to delays in resolving queries or issues, frustrating traders seeking immediate assistance.
Tel: +44 7868 816795; +1 438 804 4448; +61 7 4191 5649; +32 460 21 50 78; +34 930 309 274.
Address: 1202 Geneva, Rue de Pré-de-la-Bichette, Switzerland
Conclusion
In conclusion, while Wasixcap offers online trading services in Cryptocurrency, Forex, Stocks, Indices, and Commodities to its global clientele, concerns arise due to the absence of regulatory supervision and ongoing website accessibility issues. This casts doubt on the broker's reliability, and it's unclear whether the broker's business is in a cease situation or not.
Given these uncertainties, Wasixcap is strongly unrecommended. We advise you exploring alternatives that prioritize transparency, regulatory compliance, and consistent customer service to ensure a trustworthy trading experience.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
