WillKing Forex Broker
Basic Information
Hong Kong
Scam Brokers 5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskRating Index
WillKing Forex Broker - Comprehensive Information Guide
1. Broker Overview
WillKing, officially known as Will King Global Market, was established in 2021 and is headquartered in Hong Kong. This broker operates as a private entity, catering primarily to retail clients in the forex trading market. The company aims to provide a user-friendly trading experience with a focus on leveraging advanced technology and competitive pricing.
Since its inception, WillKing has made significant strides in the forex brokerage industry. The firm has developed a reputation for offering a range of trading instruments and is committed to enhancing its services continuously. The company operates under a business model that includes retail forex trading, providing clients with access to various currency pairs and CFDs (Contracts for Difference).
The development of WillKing is marked by its commitment to client satisfaction and innovative trading solutions. The firm has focused on creating a robust trading platform that meets the needs of both novice and experienced traders. As a relatively new player in the market, WillKing is rapidly establishing its presence and aims to compete with more established brokers by offering tailored services and advanced trading tools.
2. Regulation and Compliance Information
WillKing operates under the scrutiny of several regulatory bodies, although it has faced scrutiny regarding its licensing. The broker claims to be regulated in certain jurisdictions, but specific details about its licenses are not entirely clear. The primary regulatory authority associated with WillKing is the National Futures Association (NFA), but the broker is currently listed as unauthorized by the NFA.
The regulatory licenses held by WillKing are said to cover a range of trading activities, although the specifics of these licenses, including their numbers and validity periods, are not provided in the available information. The broker is required to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations to ensure the safety and security of its clients' funds.
WillKing implements a client fund segregation policy, meaning that customer funds are kept separate from the companys operating funds. This practice is essential for protecting clients in the event of financial difficulties faced by the broker. However, participation in an investor compensation fund has not been confirmed, which raises concerns for potential clients regarding the safety of their investments.
3. Trading Products and Services
WillKing offers a diverse range of trading products, primarily focusing on forex currency pairs. The broker provides access to over 50 forex pairs, including major, minor, and exotic currencies. Additionally, WillKing offers a variety of CFDs across different asset classes, including indices, commodities, stocks, and cryptocurrencies.
The broker's product offerings are updated regularly, with new instruments introduced to meet the evolving demands of traders. WillKing also provides retail trading services, catering to individual traders looking to capitalize on market fluctuations. For institutional clients, WillKing offers tailored solutions, although specific details about these services are not extensively documented.
Moreover, the broker is reported to provide white-label solutions for businesses looking to enter the forex trading market. WillKing also engages in asset management services, helping clients manage their investments strategically.
4. Trading Platforms and Technology
WillKing supports the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, known for their advanced charting tools and automated trading capabilities. These platforms are accessible on desktop, web, and mobile devices, allowing traders to manage their accounts flexibly.
In addition to MT4 and MT5, WillKing has developed its proprietary trading platform, which is designed to enhance user experience with a modern interface and intuitive features. The broker's platform supports various order types and provides real-time market data, essential for making informed trading decisions.
WillKing's execution model is primarily ECN (Electronic Communication Network), which facilitates direct market access for traders. The broker maintains its servers in secure locations to ensure fast and reliable order execution. Furthermore, WillKing supports API access for clients looking to implement automated trading strategies, enhancing the overall trading experience.
5. Account Types and Trading Conditions
WillKing offers several account types to cater to different trading needs. The Standard Account requires a minimum deposit of $100, with competitive spreads and no commission fees. For more experienced traders, the broker provides a Premium Account, which has a higher minimum deposit and offers additional features such as tighter spreads and enhanced support.
The broker also offers specialized accounts, including Islamic Accounts that comply with Sharia law, ensuring no interest-based charges. A Demo Account is available for new traders to practice their strategies without risking real funds.
Leverage ratios vary by account type and trading instrument, with maximum leverage reaching up to 1:500 for forex pairs. The minimum trade size is set at 0.01 lots, allowing for flexible trading options. WillKing also implements overnight fees, which are charged based on the positions held overnight.
6. Fund Management
WillKing supports a variety of deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirement varies by account type, with the Standard Account starting at $100.
Deposits are processed within a few hours, depending on the method used, while withdrawal requests are typically processed within 1-3 business days. However, the broker may impose withdrawal fees based on the payment method selected. Clients should review the fee structure on the WillKing website for specific details.
Withdrawal limits apply, and clients are encouraged to verify these limits before initiating a withdrawal. The broker aims to provide a seamless funding experience, ensuring that clients can manage their accounts effectively.
7. Customer Support and Educational Resources
WillKing offers multiple support channels, including phone, email, live chat, and social media. The customer support team is available 24/5, covering major trading hours to assist clients with their inquiries. The broker provides support in several languages, ensuring accessibility for a diverse clientele.
In addition to customer support, WillKing offers educational resources such as webinars, tutorials, and e-books to help traders enhance their knowledge and skills. Market analysis services, including daily reports and news updates, are also available to keep clients informed about market trends.
The broker provides various trading tools, including calculators and economic calendars, to assist traders in making informed decisions. These resources aim to equip clients with the necessary knowledge to navigate the forex market confidently.
8. Regional Coverage and Restrictions
WillKing primarily serves clients in Asia, with a focus on markets in Hong Kong and surrounding regions. The broker has established regional offices to enhance its service delivery and client engagement.
However, WillKing does not accept clients from certain countries, including the United States, due to regulatory restrictions. Specific regional limitations may apply, and potential clients are encouraged to review the broker's terms of service for detailed information on accepted jurisdictions.
In conclusion, WillKing is positioning itself as a competitive player in the forex brokerage industry, offering a range of trading products and services. With a focus on customer satisfaction and technological advancement, the broker aims to attract a diverse clientele while navigating the complexities of regulatory compliance.
WillKing Similar Brokers
Latest Reviews
帅导，
Hong Kong
Ridiculous spread, stuck server and ultrahigh commission!
Exposure
2020-08-17
罗生门
Hong Kong
I saw the job ad on a recruitment website a few months ago, thinking that changing my job to a higher-end finance-related one to would make my life better. There would still be hope if I stay diligent and keep learning from work. At the very beginning, I thought I would be working as a professional trader after the training. And I would be satisfied if my future monthly minimum pay is CNY 8,000 as agreed. However, there is no such good thing. All this time, it was a trap . At the beginning, the teacher was really enthusiastic and meticulous about explaining the software download, installation and details of every step in the operation to us. I thought I found the place can meet my desire. Everyone else also seemed so promising. After study for a week or two, I was given an account for assessment. I could become a trader and have basic salary after passing the three-month assessment. Then, I continued to do as the teacher said. I continued to trade tirelessly for about three months. I hoped I could stay awake to stare at the screen and wait for the entry signal. I was thrilled every time when the signal comes. Nevertheless, I couldn’t figure out why I kept making more loss-making orders and little profit.In addition, I had no income in the past few months. I also dreamed of making big money after passing the assessment. Helpless, I began to doubt myself, thinking that I was not skillful enough to master the technique. However, It turned out that everyone else did not make money, let alone passed three months of assessment. The trading requirements are very strict, which seemed to be a good thing to me at the beginning. All I needed is to avoid big mistakes in the future. At the later stage, I found there were various restrictions: different lot sizes of different varieties, the different fixed stop profit and loss point, and different trading frequency every week (neither too high nor too low, no big losses, no overnight) which made you get kicked out of the game easily. Looking back on it, all the harshness and strictness aimed to make us fail the assessment. Words like the basic salary of CNY 8,000 and our future clients are all lies. Later, I was told that I can refer some of my friends to do it, so that we can earn a commission regardless of profit or loss. Only by then did I find out their real purpose is scamming us. Now that most of the applicants are newbies, trained for more than two hours a day for a week or two before going online as traders and managing an account of CNY 200,000. If I have CNY 1.4 million, I must be out of my mind to let some newbies who only studied for two weeks and then practiced for two or three months manage my account. So who were the silliest ones in this game? Clients? The platform? Us? From where I am sitting,we are the fools that believed in whatever they say. Thinking it is over some profit records posted by the teachers in the group every day, I just get envious of it. After researching for some time, I found that this platform is abnormal. I also compared the spread of other platforms with theirs, it turned out there to be 2 times of difference. Each transaction has a separate service fee. This platform only has one server. It seems that we used simulator to assess, but I am not sure because there is no indication of simulation. There was “little yellow guy” under the server, and there was no regulation. The trading software was also lagged. The company claimed that they are Willking’s general agency in China, while there were actually only two or three people there, and the rest were newly recruited ones like me. Now I believe that it is a dummy cooperation. How could I be so stupid to believe in this? I haven’t make any money in these months. I wasted my time for this due to my ignorance of this industry. I will stay away from Forex market and settle with a normal job.
Exposure
2020-07-10
Home°子凌
Hong Kong
The spread is higher than average and the platform is stuck. There are only several commodities to trade.
Exposure
2020-08-28