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WinMarket foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://winmarket.io/registration, about the company's legal and temporary regulatory information, the company's address .

WinMarket Forex Broker

Basic Information

Registered Region
Dominica
Operating Period
--
Company Name
Seabreeze Partners Ltd.
Abbreviation
WinMarket
Company employee
--
Customer Service Email Address
support@winmarket.io
Contact Number
+44-203-318-51-52
Company Website
Keywords
5-10 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

Company profile

General Information & Regulation WinMarket is an offshore broker, owned and operated by Seabreeze Partners Ltd., a company registered in the Commonwealth of Dominica- an island country in the West Indies. Like other offshore zones such as St. Vincent and the Grenadines, the Marshal Islands, or the Seychelles, Dominica attracted many online businesses in recent years, because of the tax-free status they are granted, and the loose regulatory regime. WinMarket is operating without any license whatsoever. Markets Instruments WinMarket advertises that it can offers a wide range of trading products, including forex currency pairs, commodities, indices, stocks, cryptocurrencies. Minimum Deposit The minimum initial deposit is $250 for the Basic account. The other accounts start at $5,000 and $20,000 respectively. Leverage WinMarket says to provide leverage of up to 1:50, but when testing their their MT4 we were actually given 1:500. Trading with an unregulated broker offering generous broker is not a good option. High leverage levels provide huge profit potential, but they also involve great risks because any losses incurred will be multiplied. Thats why many financial regulators imposed leverage caps for retail brokers. Spreads & Commissions WinMarket advertises spreads as low as 0 on al account types, but through a demo account we saw that theyre actually not attractive at all – floating around 1.8 – 1.9 pips on EUR/USD. Trading Platform Available As their trading platform, WinMarket have chosen the MetaTrader4 (MT4), which is still considered one of the best forex terminals. The MT4 offers top-notch charting with many indicators, multiple types of orders, as well as wide range of Expert Advisors for automated trading. And those who have some knowledge of coding can create EAs and Indicators of their own. Deposit& Withdrawal WinMarket accepts card payments, wire transfers, and payments done using the Piastrix e-wallet. It should note that out of these three only credit cards can grant you the ability to file a chargeback, and in quite the long period of time – 540 days from the date of the transaction.

Rating Index

Advanced

Minimum Deposit
$ 20 000

Standard

Minimum Deposit
$ 5000

  

Winmarket Forex Broker - Comprehensive Information Guide

  

1. Broker Overview

  Winmarket broker, officially launched in 2020, is a financial services provider based in Dominica. The company operates under the umbrella of Sea Breeze Partners Ltd., which is known for its involvement in various online trading activities. Winmarket is a privately owned entity that caters primarily to retail clients looking for opportunities in the forex and CFD markets. The broker aims to offer a user-friendly trading environment, enabling clients to engage in trading various financial instruments.

  Since its inception, Winmarket has reportedly attracted a significant number of clients, claiming to have hundreds of thousands of satisfied customers. The broker focuses on providing a range of trading services, including forex, futures, and CFDs. Winmarket broker is designed to simplify and enhance the trading experience, making it accessible to both novice and experienced traders alike.

  The business model of Winmarket revolves around retail forex trading, offering various account types and trading platforms to meet the diverse needs of its clients. However, it is essential to note that the broker's operations are based in an offshore jurisdiction, which raises concerns about regulatory oversight and client protection.

  

2. Regulation and Compliance Information

  Winmarket operates as an unregulated broker, which is a significant red flag for potential investors. The broker does not provide information regarding any regulatory licenses or oversight from recognized financial authorities. As a result, clients may face considerable risks when trading with Winmarket, as there is no regulatory body to address grievances or ensure the safety of client funds.

  The absence of regulation means that Winmarket does not adhere to the stringent requirements often imposed by financial regulators, such as the Financial Conduct Authority (FCA) in the UK or the Securities and Exchange Commission (SEC) in the US. Consequently, clients' funds are not guaranteed protection under any investor compensation scheme, which is typically a standard feature among regulated brokers.

  Winmarket's KYC (Know Your Customer) and AML (Anti-Money Laundering) policies are also unclear, as the broker does not provide detailed information about its compliance measures. This lack of transparency further exacerbates concerns regarding the safety and security of client investments.

  

3. Trading Products and Services

  Winmarket offers a diverse range of trading products, primarily focusing on forex and CFDs. The broker claims to provide access to a wide variety of currency pairs, including major, minor, and exotic pairs. In addition to forex, Winmarket also offers CFDs on various assets, including indices, commodities, stocks, and cryptocurrencies.

  The specific categories of CFDs available for trading include:

  • Indices: Major global indices such as the S&P 500, NASDAQ, and FTSE 100.
  • Commodities: Popular commodities like gold, silver, and crude oil.
  • Stocks: A selection of stocks from various global markets.
  • Cryptocurrencies: Major cryptocurrencies including Bitcoin, Ethereum, and others.

  Winmarket aims to keep its product offerings updated, frequently adding new instruments to cater to the evolving demands of traders. The broker provides retail trading services, focusing on individual clients, and does not appear to offer institutional client services or white-label solutions.

  

4. Trading Platforms and Technology

  Winmarket supports the widely used MetaTrader 4 (MT4) trading platform, which is renowned for its robust features and user-friendly interface. MT4 allows traders to access advanced charting tools, a variety of technical indicators, and automated trading capabilities through Expert Advisors (EAs). This platform is suitable for both novice and experienced traders, providing a comprehensive trading environment.

  In addition to MT4, Winmarket offers a proprietary web-based trading platform that provides access to various trading instruments. The broker also supports mobile trading applications for iOS and Android devices, enabling traders to manage their accounts and execute trades on the go.

  The execution model employed by Winmarket is not explicitly stated, raising questions about whether it operates as an ECN (Electronic Communication Network), STP (Straight Through Processing), or Market Maker. Additionally, the broker's server locations and technological infrastructure details are not disclosed, which could impact the trading experience in terms of latency and reliability.

  API access and support for automated trading are also not clearly outlined, leaving potential clients uncertain about the broker's capabilities in this regard.

  

5. Account Types and Trading Conditions

  Winmarket offers three main account types, each designed to cater to different trading preferences and levels of experience:

  •   Basic Account: Requires a minimum deposit of $250, with leverage up to 1:25 and a spread starting from 0 pips. This account type includes 24/5 customer support and access to trading signals.

  •   Standard Account: Requires a minimum deposit of $5,000, allowing leverage of up to 1:50. This account type also features a 0 pip spread and comes with additional benefits such as account insurance and increased trading signals.

  •   Advanced Account: Requires a minimum deposit of $20,000, offering leverage up to 1:50 and a 0 pip spread. This account type provides the highest level of support, including extensive trading signals and greater account insurance.

  Winmarket does not appear to offer specific account types for Islamic traders or other specialized accounts. Furthermore, details regarding demo accounts, overnight fees, and minimum trade sizes are not clearly provided, leaving potential clients with unanswered questions about the broker's trading conditions.

  

6. Fund Management

  Winmarket supports various deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirement varies depending on the account type, starting from $250 for the basic account.

  The processing time for deposits is not explicitly stated, nor are any associated fees clearly outlined. This lack of transparency regarding deposit fees could be a concern for potential clients.

  Withdrawal methods and limitations are also not well-defined, which may lead to complications when clients attempt to access their funds. The processing time for withdrawals is similarly unclear, leaving clients uncertain about how quickly they can expect to receive their funds.

  Overall, the lack of detailed information regarding fund management raises concerns about the broker's reliability and transparency in handling client funds.

  

7. Customer Support and Educational Resources

  Winmarket offers customer support through email, with no phone support or live chat options available. The email address for support is support@winmarket.io. The broker claims to provide 24/5 support, but the actual response times and effectiveness of this support remain uncertain.

  The broker's website does not provide extensive educational resources, such as webinars, tutorials, or eBooks, which are often crucial for traders looking to improve their skills. While there may be some market analysis services available, such as daily analysis and news updates, the overall educational offering appears to be limited.

  Language support is also not clearly specified, which could be a barrier for non-English speaking clients seeking assistance.

  

8. Regional Coverage and Restrictions

  Winmarket primarily serves clients in various regions, but specific details regarding its target markets and the distribution of regional offices are not disclosed. The broker does not provide a comprehensive list of countries or regions where it does not accept clients, which could lead to confusion for potential investors.

  The lack of clarity regarding regional coverage and restrictions may pose challenges for clients looking to engage with Winmarket, especially those in jurisdictions with strict financial regulations.

  In conclusion, while Winmarket broker presents itself as a viable option for forex and CFD trading, potential clients should exercise caution due to its unregulated status and the lack of transparency in various operational aspects. As with any investment, thorough research and consideration of the associated risks are essential before engaging with Winmarket.

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Latest Reviews

西风古道

西风古道

Peru

I was thinking of opening a standard account with WinMarket, but then they hit me with a $5,000 minimum deposit requirement! That's just insane. The customer service rep suggested I try a basic account first, but I read some reviews saying the spreads are too wide. I don't know if I should risk my money with these guys.

37130

2023-03-27

WinMarket Forex Broker has an overall rating of 1.50, Regulatory Index 0.00, License Index 0.00, Business Index 6.96, Software Index 4.00 Risk Control Index 0.00.