WisunoFX

Overview of WisunoFX

Established in Belarus in 2013, WisunoFX offers forex trading with a maximum leverage of 1:500. WisunoFX is regulated by the FSA. It provides a range of trading assets, primarily focusing on currency pairs, commodities, and indices. The platform boasts advantages such as access to the MT4 trading platform, a demo account option, and two account types to choose from.

However, it faces drawbacks including limited payment methods, non-competitive spreads, and reports of fraudulent activities.

Regulatory Status

WisunoFX operates under regulation by the Seychelles Financial Services Authority, holding a Retail Forex License (License No.: SD178).

However, it lacks authorization from the National Futures Association (NFA) in the United States, possessing only a Common Financial Service License (License No.: 0547671).

While the Seychelles regulation offers some level of assurance regarding operational standards and financial security, the absence of NFA authorization could deter traders, particularly those in the US, due to the stringent regulatory environment and trust associated with NFA oversight.

Pros and Cons

Pros:

• High Leverage up to 1:500: WisunoFX offers a high maximum leverage ratio of 1:500 for forex trading. This allows traders to control larger positions with a smaller amount of capital.

• MT4 trading platform: The platform provides access to MetaTrader 4, a widely acclaimed and popular trading platform known for its robust features and user-friendly interface. MT4 offers advanced technical analysis tools, customizable trading systems, and algorithmic trading capabilities.

• Demo account available: WisunoFX offers a demo account option, allowing traders to practice trading strategies and familiarize themselves with the platform's features without risking real money.

• Two types of trading accounts to choose from: WisunoFX provides two types of trading accounts: ECN (Electronic Communication Network) and STP (Straight Through Processing). Each account type has its own characteristics, such as minimum deposit requirements, leverage ratios, and trading conditions, allowing traders to choose the account that best suits their trading preferences and risk tolerance.

• Regulated by the FSA: WisunoFX operates under regulation by the FSA.

Cons:

• Limited payment methods: The platform offers a limited selection of payment methods for deposit and withdrawal via CUP and wire transfer.

• Spreads not competitive: WisunoFX's spreads, particularly for popular currency pairs like EUR/USD (1 pip), not as competitive compared to other brokers in the market.

• Not 24/7 customer support: The platform's customer support is not be available round-the-clock, which could be problematic for traders who require immediate assistance or encounter issues outside regular business hours.

• Complaints regarding pyramid schemes and fraudulent activities: There have been reports of users experiencing pyramid schemes and fraudulent activities on the platform.

Market Instruments

WisunoFX offers investors a small range of tradable assets, mainly currency pairs, commodities, and indices.

Account Types

The ECN (Electronic Communication Network) account offered by WisunoFX requires a minimum deposit of $500 and offers a maximum leverage of 1:500. With a minimum position size of 0.01 lots, ECN accounts are typically favored by more experienced traders or those with larger trading capital due to the relatively higher initial deposit requirement.

Conversely, the STP (Straight Through Processing) account option at WisunoFX has a lower minimum deposit requirement of $200 and maintains the same maximum leverage of 1:500 as the ECN account. With a minimum position size of 0.01 lots, STP accounts appeal to a broader range of traders, including those who are just starting in the forex market or have limited capital to invest.

Leverage

In terms of trading leverage, the maximum leverage level for forex trading offered by the WisunoFX is quite high, reaching 1:500.

Spreads & Commissions

The minimum spread is 1 pip for EURUSD and 1 pip for Gold. Commissions for Forex trading start at $5 per lot and $14 for Gold per lot.

Trading Platform

WisunoFX offers traders the market-leading and widely acclaimed MT4 trading platform, MT4 iOS, MT4 Android, and MT4 PC.

MT4 is the most popular trading platform with advanced technical analysis tools, flexible trading systems, stable and smooth performance, available for algorithmic & intelligent trading. Moreover, MT4 is able to develop different trading strategies for traders of different levels, helping traders to get ahead in the financial market.

Deposit & Withdrawal

WisunoFX supports traders to deposit or withdraw funds to their investment accounts via providing CUP and wire transfer.

At WisunoFX, the minimum deposit for an ECN Account is $500. For an STP Account, the minimum deposit is $200.

Customer Support

WisunoFX provides comprehensive customer support through various channels.

For assistance, you can reach them via phone at +375 29 661 09 93. Alternatively, you can contact them through WeChat or Wisuno FX. Their email address, support@wisunofx.com, offers another means of communication.

Exposure

The user exposure on WisunoFX primarily revolves around complaints related to pyramid schemes and fraudulent activities.

Specifically, users have reported instances where they were deceived into completing tasks worth significant amounts of money, such as ¥100,000, under false promises of returns or benefits, only to find themselves unable to withdraw their funds. Such exposure indicates potential issues with transparency, integrity, and regulatory compliance within the platform.

Conclusion

In conclusion, WisunoFX offers traders a range of advantages and disadvantages to consider.

With a maximum leverage of 1:500 and access to the MT4 trading platform, it provides opportunities for potential profits and efficient trading.

However, limited payment methods, non-competitive spreads starting at 1 pip for EURUSD, and reports of fraudulent activities undermine its appeal.

FAQs

1. Question: What account types does WisunoFX offer？

1. Answer: WisunoFX offers two account types: ECN Account and STP Account.

1. Question: What is the minimum deposit required to open an account with WisunoFX？

1. Answer: The minimum deposit for an ECN Account is $500, while for an STP Account, it is $200.

1. Question: What is the maximum leverage offered by WisunoFX？

1. Answer: WisunoFX offers a maximum leverage of 1:500 for trading.

1. Question: What trading platform does WisunoFX provide？

1. Answer: WisunoFX provides access to the widely acclaimed MT4 trading platform.

1. Question: How can I contact WisunoFX's customer support？

1. Answer: You can reach WisunoFX's customer support via phone at +375 29 661 09 93, WeChat, or email at support@wisunofx.com.

1. Question: What are the available payment methods for deposit and withdrawal？

2. Answer: WisunoFX supports deposit and withdrawal via CUP and wire transfer.