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Score

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The WikiFX Score of this broker is reduced because of too many complaints!

Webullforex

United States|1-2 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://webullforex.com/en/index

Website

Rating Index

Contact

support@webullforex.com
https://webullforex.com/en/index
7th Street 40 E 7th St, New York, NY 10003, USA
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
*No restriction on the broker account

Single Core

1G

40G

1M*ADSL

Warning: Low score, please stay away!
2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
2

Basic information

Registered region
United States
Operating period
1-2 years
Company Name
Webullforex
Abbreviation
Webullforex
Company employee
--
Customer Service Email Address
support@webullforex.com
Company address
7th Street 40 E 7th St, New York, NY 10003, USA
Keywords 4
1-2 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

FX2694468193

Taiwan

A friend I met online gained my trust through chats about investment experiences and sharing aspects of life, then introduced me to their trading platform which appeared normal and legitimate. However, shortly after I started using it, the company's customer service recommended their analyst. They said that by depositing $50,000, I could obtain permanent analyst credentials. Subsequently, they introduced me to the analyst's Line account. After following the analyst's trading predictions which made me money, within less than a month, the analyst informed me that the company had been seized due to illegal funds invested by other clients. Now, to apply for a compensation plan which is currently under review, a 15% security deposit of the funds is required to recover the money and return it. In total, I transferred $13,450 + $5,000 (amount not yet credited), totaling $18,450 USDT.

Exposure

11-26

FX3809404122

Vietnam

The exchange does not allow withdrawals and requires a 20% tax payment.

Exposure

10-26

Toanthang2024

Vietnam

Vietnamese individuals register Facebook accounts in Cambodia to lure participants into foreign exchange investment with the intention of deceiving and misappropriating their assets. Everyone, be cautious! Facebook profile page Actual amount in the account On August 22, 2024, the recipient of the participation fee (i.e., customer care) requested a 25% tax on the total value of the account before withdrawing money. For example, only when 90,000 USD is subject to a 25% tax can the withdrawal order be executed. Withdrawals of smaller amounts are not allowed to be carried out 🥲 After 10 days of stating this reason and that By September 6, 2024, the account balance becomes 0 dong 🥲 Above, I present some images of the fraudulent behavior and misappropriation of assets of the participants. I hope that relevant parties can assist me. I have evidence of money transfers; date/month/year/amount of participation!

Exposure

09-06

FX1619514609

Vietnam

Recently, I participated in 90,000 USD at this exchange. When I needed money, I requested support to withdraw from the exchange and was asked to pay a 25% tax according to the tax authorities' regulations. It's really unfortunate that I had to pay taxes on the money I deposited and withdrew 😂

Exposure

09-05

FX3809404122

Vietnam

Attention everyone, you can deposit money into the platform now, but when you want to withdraw, they will ask you to deposit more money before you can withdraw. The customer service department is not available on the platform, so you can only contact them through Telegram.

Exposure

08-17

시우

South Korea

I am a Webullforex user with account number 651884. When I requested a withdrawal of $245,755, the ST support service requested payment of a withdrawal fee, which I paid, and then requested payment of another identity verification fee. After completing all the payments, the support service stopped responding, and I have not received the money so far. Today, the WebullForex headquarters sent a statement explaining that an external support agent of their platform deceived us. They have asked us to wait and will soon resolve the issue. I trust their platform and only hope that they will pay me the money.

Exposure

07-06

김상수

South Korea

Hello.  I am a member of WebbleForex. user401346 is a member. I applied for a currency exchange of $293,000. The customer service center told me to charge a fee of 3,968,3627 won, so I did. However, they say that the money cannot be exchanged because the funds from a third party have been confirmed. I borrowed 81.2 million won from a friend and bought it. They said they couldn't exchange money for that money, so I asked for a solution. The customer center said that I had to deposit 81.2 million won to exchange it for $293,000. So I said I didn't have enough money. The customer service center said that if I deposit half of 81.2 million won, they would exchange 293,000 dollars. So I deposited 40 million won. Once again, the customer service center said they couldn't exchange money. I asked why it couldn't be done. They say they won't use it because their credit is bad. They say they can exchange $293,000 by holding on to the remaining 41.2 million of their friend's money at the customer center again. So, I asked for 20 million won and said they didn't have the rest, so they said they would do it if I used a friend's guarantee, but they said they wouldn't let me exchange money after using a friend's guarantee. They said they couldn't do it because my credit score was low. So time has passed 20 days. The customer center said it was frozen. They said they had to put up 10 million won to lift the freeze, so they put up another 10 million won. They said I had to raise my credit score to be able to exchange money, so they charged me 10 million won to raise my credit score. The Todashi customer service center asked for 11.5 million won, so they charged me 10 million won. And then the customer service center doesn't work.

Exposure

06-24

洪玉2726

Japan

On March 5, he contacted me in the name of sending the wrong message on WeChat. Later, we developed into a relationship. He taught me how to invest in gold. He introduced his friend, investment broker, Mr. He to me. On April 7th and 8th, I transferred about 10,000 US dollars to the Japanese bank personal account designated by Mr. He. I followed his trading and made a profit of 7,800 US dollars three times. I did not withdraw money because he said there was still a big market and more funds needed to be invested. But no more money was invested. At about four o'clock in the morning on May 6, he sent a message saying that he was going to die and asked me to forget him. Then he lost contact. On the same day, Mr. He also lost contact after I said I wanted to withdraw money. On May 7, I applied for a withdrawal of US$7,000, but it was not processed. Customer service can't be contacted either. I believed him till yesterday, but now I realize that I was deceived.

Exposure

05-15

洪玉2726

Japan

We met online, from friends to lovers. His name is Chen Jianguo. He is said to be from Chengdu, Sichuan, China, and living in Singapore. He introduced his friend, Mr. He, an investment broker, to me and asked me to invest in gold and foreign exchange. On April 7th and 8th, I remitted 900,000, 600,000 yen, a total of 10,000 US dollars, to the Japanese personal account designated by Mr. He. Around 4:30 in the morning on May 6th, Chen Jianguo lost contact. Mr. He also lost contact. I applied for withdrawal of 7,000 US dollarson May 7th. It has not been processed yet. Unable to solve it.

Exposure

05-15

Derya

Thailand

Seriously, Webullforex Trading Web has some basic functions, but is far from being robust compared to other platforms, especially MetaTrader platforms.

Neutral

08-07

10
Website
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Official website

Website

  • webullforex.com

    Server Location

    United States

    Website Domain Name

    webullforex.com

    Server IP

    104.21.65.36

Company Summary

Webullforex Review Summary in 8 Points
Company nameWebullforex
Registered country/regionUSA
RegulationUnregulated
Trading PlatformsTradingweb
Market Instrumentsforeign exchange, precious metals, energy and major global indices
Maximum Leverage1:100
SpreadBasic trading spreads are as low as 0; floating spreads as low as one point
Customer SupportEmail: bakktforex@bakktfxs.com

Webullforex Information

Webullforex is a broker headquartered in Denver, USA. It provides traders with access to market instruments including foreign exchange, precious metals, energy and major global indices.

Webullforex Information

Pros And Cons

ProsCons
Various Market InstrumentsNot regulated
Lower than the industry average spreads
Various deposit and withdrawal methods

Is Webullforex Legit?

You need to note that according to WikiFX's investigation, Webullforex is currently not regulated by any recognized financial authorities.

Is Webullforex Legit?

What Can I Trade on Webullforex?

You can trade dozens of products including foreign exchange, precious metals, energy and major global indices.

Tradable Instruments Supported
foreign exchange
precious metals
energy
major global indices

Account Type

We were unable to obtain further details about the opening of their account as the website did not provide relevant information.

Webullforex Fees

Basic trading spreads are as low as 0 and floating spreads as low as one point. In order to trade leveraged CFDs or Forex, you will need to deposit a certain amount of money with Bakkt Market as margin.

For example, trading a 100:1 leveraged contract requires a margin of 1% of the contract value. Forex margin is calculated as follows: Margin = [number of lots * (contract size / leverage)] * opening price, in a standard account the contract size is 100 000 units for all Forex currencies.

Webullforex Fees
Webullforex Fees
Webullforex Fees

Trading Platform

Webullforex offer one of the world's most popular and widely used online trading platforms (Tradingweb).

Trading Platform
Trading PlatformSupportedAvailable Devices Suitable for
Tradingwebweb,mobile phoneAnyone

Deposit And Withdrawal

We were unable to obtain further details about its deposit and withdrawal options as the website did not provide relevant information.

Keywords

  • 1-2 years
  • Suspicious Regulatory License
  • Suspicious Scope of Business
  • High potential risk

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