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WIX foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website http://www.wixcocm.com/register, about the company's legal and temporary regulatory information, the company's address .

WIX Forex Broker

Basic Information

Registered Region
United States
Operating Period
--
Company Name
WORLDWIDE COMMERCIAL FINANCE
Abbreviation
WIX
Company employee
--
Company Website
Keywords
5-10 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

Company profile

Note: WIX official site -https://www.wixcoc.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. WIX Review Summary in 3 Points Registered Country/Region China Regulation Unregulated Customer Support None What is WIX? WIX, short for WORLDWIDE COMMERCIAL FINANCE, is a digital trading platform in China, has been the subject of severe reservations due to issues such as their unresponsive website and the the absence of valid regulations. This article provides an in-depth examination of WIX, assessing the many elements of their service. If you're considering using this platform, we suggest a comprehensive read to fully appreciate potential risks and benefits. The article concludes with a summary of key points and aspects, providing a useful tool for those exploring the expansive world of online trading. Pros & Cons Pros Cons None • Unregulated • Website inaccessible • Lack of transparency • No customer support • Negative review from client Cons: Unregulated: Observably, WIX operates without regulatory oversight. The lack of regulation raises serious concerns about the security of clients' funds and their trading operations. Regulatory supervision assures traders of adherence to best practices and standards in the industry. Website Inaccessible: The inaccessibility of WIX' website can significantly hamper the user experience as it restricts them from gaining essential information about the broker's services and features. Lack of Transparency: The lack of lucidity presented by WIX, particularly in their policies, fees, and practices, can make it an uphill task for traders to make informed decisions and affect trust in the platform. No Customer Support: WIX's lack of customer support is a substantial setback in today's technology-advanced world. Immediate access to help for queries or issues becomes paramount in a financial context. Negative Reviews from Clients: A report of unable to withdraw is a deeper issue which can significantly contribute to the overall reputation and reliability of a broker. Is WIX Safe or Scam? When considering the safety of a brokerage like WIX 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: Regulatory sight: At present, this broker is running without any legitimate regulatory supervision, casting doubts over its legitimacy and dependability. Such worries are heightened due to the issue of an inaccessible broker's website. User feedback: A report of unable to withdraw on WikiFX raises questions about the company's operational dependability and liability which should be a red fag to interested traders. Security measures: Currently, there is no publicly available information regarding the security measures implemented by this broker. In the end, the decision to trade with WIX is a personal one that requires a thorough assessment of the advantages and disadvantages before making a final decision. User Exposure One report regarding withdrawal issues on WikiFX calls for traders' vigilance. Before deciding to trade with the company, we highly suggest traders conduct a thorough examination of all the pertinent information. Our platform tries to support your trading endeavors effectively. If you stumble upon dishonest brokers or have been a victim of such fraudulent, we strongly encourage you to report through our “Exposure” section. Your input is essential to our pursuit of transparency, and our skilled team will endeavor to address your reports swiftly. Customer Service WIX notably lacks any customer service channels. This absence of support is a significant disadvantage for users, particularly in situations where immediate and timely assistance is critical. Conclusion WIX, a trading platform based in China, presents itself as an online trading solution. However, its unregulated status raises potential risks and legal implications for traders. Coupled with this regulatory deficiency, other issues such as website inaccessibility and negative client feedback depict a lack of professionalism, impacting a user's overall experience. It is extremely important to ensure adherence to regulatory standards and maintain transparency in operations when participating in online trading. Therefore, it's a better decision for you to explore alternative, more reliable and professional platforms that uphold these fundamental principles. Frequently Asked Questions (FAQs) Q 1: Is WIX regulated? A 1: No. It has been verified that this broker currently under no valid regulations. Q 2: Is WIX a good broker for beginners? A 2: No. It is not a good choice for beginners. Not only because of its unregulated status, but also because of its unavailable website, absence of customer support, lack of transparency and negative review from client. 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. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Rating Index

How to login to WIX?
Wix Complete Account Guide: Registration, Account Opening, and Login Processes Creating a website or online presence has never been easier, thanks to platforms like Wix. This comprehensive guide will walk you through the processes of registering for a Wix account, opening it, and logging in. Whether

  

WIX Forex Broker - Comprehensive Information Guide

  

1. Broker Overview

  WIX, officially known as Worldwide Commercial Finance, is a digital trading platform that has been operating for approximately 2 to 5 years. The company is registered in the United States and primarily targets the Chinese market, focusing on retail forex trading. Despite its claims of providing a comprehensive trading solution, WIX has garnered significant scrutiny due to its unregulated status and various operational issues.

  The broker's development history includes a series of events that raised red flags among potential investors. Notably, WIX has faced challenges such as an inaccessible website, lack of transparency in its operations, and numerous negative client reviews regarding its withdrawal processes. The absence of a parent company or a larger corporate group further complicates its credibility, leaving it as a standalone entity in the financial services landscape.

  WIX operates mainly as a retail forex broker, offering trading services across various financial instruments. However, the lack of regulatory oversight has led to concerns regarding the safety of client funds and the overall reliability of the trading environment.

  

2. Regulatory and Compliance Information

  WIX is currently unregulated, which is a significant concern for potential clients. The absence of oversight from recognized regulatory bodies raises questions about the safety and legitimacy of the broker's operations. Notably, there are no valid regulatory licenses associated with WIX, and it operates without any effective supervision.

  The lack of regulatory compliance means that clients' funds are not protected by any investor compensation schemes, and there are no guarantees regarding the security of their investments. Furthermore, WIX has not provided adequate information regarding its Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, which are critical for ensuring a secure trading environment.

  Given these factors, potential clients should exercise extreme caution when considering WIX as their trading platform, as the absence of regulation significantly increases the risk of financial loss.

  

3. Trading Products and Services

  WIX claims to offer a diverse range of trading products, including forex currency pairs, commodities, indices, stocks, ETFs, and cryptocurrencies. However, the exact number of forex pairs available is not specified, which raises concerns about the breadth of their offerings.

  In terms of CFDs, WIX provides access to various asset classes, including indices and commodities, but specific details about the types of commodities or indices available are lacking. The broker does not appear to offer any unique or proprietary trading products that would differentiate it from other brokers in the market.

  Moreover, the frequency of product updates and the addition of new trading instruments remain unclear, which could affect traders looking for a dynamic trading environment. While WIX markets itself as a multi-asset broker, the lack of transparency in its product offerings and updates may deter potential clients.

  

4. Trading Platform and Technology

  WIX does not support the widely recognized MetaTrader 4 or MetaTrader 5 platforms, which are industry standards for forex trading. Instead, it offers a proprietary web-based trading platform. However, details regarding the functionality and features of this platform are sparse, making it difficult for potential users to assess its capabilities.

  The broker's web trader is designed for accessibility, but the lack of mobile application support for iOS and Android devices limits flexibility for traders who prefer mobile trading. Additionally, there is no information available regarding the execution model used by WIX, whether it operates as an ECN, STP, or Market Maker.

  WIX's server location is reported to be in the United States, but without more detailed information about its technological infrastructure, it is challenging to evaluate the reliability and speed of trade execution. The absence of API access and automation trading support further detracts from the broker's appeal to more experienced traders.

  

5. Account Types and Trading Conditions

  WIX offers limited information regarding its account types and trading conditions. The minimum deposit requirement for opening an account is stated to be 500 Tether, which equals approximately 500 USD. However, the specifics of standard account conditions, including spreads and commission structures, are not clearly defined.

  The broker does not provide details on advanced account types, such as VIP or professional accounts, nor does it mention the availability of Islamic accounts or corporate accounts. Information on demo account policies is also lacking, which is crucial for traders looking to practice before committing real funds.

  Leverage offered by WIX ranges up to 1:600, a figure that may attract certain traders but also poses significant risks. The minimum trading lot size and overnight fees are not disclosed, leaving potential clients without essential details needed to make informed trading decisions.

  

6. Fund Management

  WIX supports Bitcoin as the sole method for both deposits and withdrawals. The minimum deposit requirement is set at 500 Tether, and the processing time for deposits is not clearly stated. Additionally, there are no details regarding deposit fees, which could impact the overall cost of trading with this broker.

  Withdrawal methods are limited to Bitcoin, and potential clients should be aware of the risks associated with cryptocurrency transactions, including the irreversible nature of such transactions. The withdrawal processing time is reportedly around five days, but this may vary based on the broker's operational efficiency.

  Furthermore, WIX's fee structure includes an inactivity fee, which can be as high as $100 per month, adding to the overall cost for traders who do not engage in frequent trading activity.

  

7. Customer Support and Educational Resources

  WIX notably lacks robust customer support channels. The available contact methods include a telephone number and email addresses, but there is no indication of live chat support or social media engagement. This absence of accessible support can be a significant drawback for traders requiring immediate assistance.

  The service hours and time zone coverage are not specified, making it unclear when clients can expect support. Additionally, WIX does not provide multi-language support, which could limit accessibility for non-English speaking clients.

  In terms of educational resources, WIX does not appear to offer comprehensive training materials such as webinars, tutorials, or eBooks. Market analysis services, including daily analysis and research reports, are also not mentioned, which could leave traders without critical insights needed for informed decision-making.

  

8. Regional Coverage and Restrictions

  WIX primarily serves the Chinese market, with its operations registered in the United States. However, specific details regarding regional offices or distribution are not provided. The broker's lack of regulatory oversight may restrict its ability to operate in certain jurisdictions, and it is essential for potential clients to verify whether their country is supported.

  Certain countries may be excluded from WIX's services due to regulatory restrictions, although the specific countries that are not accepted are not disclosed. This lack of transparency could pose challenges for potential clients seeking to understand their eligibility for trading with WIX.

  In summary, WIX presents itself as a trading platform with various offerings, yet the lack of regulation, transparency, and customer support raises significant concerns about its reliability and safety for traders. Potential clients are advised to conduct thorough research and consider alternative, more reputable brokers that adhere to regulatory standards and provide comprehensive support and resources.

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Latest Reviews

FX1269926938

FX1269926938

Singapore

The account manager of WIX once contacted me, and I blocked him because I thought the company was unreliable. Looking back today, the company has closed down! fraud!

37130

2023-02-23

妃.你莫屬

妃.你莫屬

Taiwan

It is a scam company that cooperates with the so-called instructor to collect a deposit on the grounds of risk control before withdrawal. The instructor also collects the guidance fee first. If the deposit is not paid, the investment and guidance fee will not be returned, and the account will be closed directly. Please Announce this bad platform, don’t let people be fooled

Exposure

2021-02-25

WIX Forex Broker has an overall rating of 1.49, Regulatory Index 0.00, License Index 0.00, Business Index 6.86, Software Index 4.00 Risk Control Index 0.00.