In recent days, Brother Truth has seen a low-scoring brokerage company WeTrade Zhonghui, which is said to be an unregulated black platform engaged in by the Chinese, specially used to defraud investors.
It can be seen from the screenshot of the above customer complaint that many people have been defrauded by this wetrade Zhonghui, and after the deception, the trading account background is closed, the withdrawal is not possible, and the manager blacks out the customer, which is also too rampant.
How did WeTrade defraud so many people? Now I'll take you to take a good look at the bottom of it.
First of all, we first learned from the official website of WeTrade that he has two companies, one is calledwetrade capital limitedMalaysian regulated company, another company called:wetrade international llcRegulated company in Saint Vincent and the Grenadines.
Truth one
1) The Malaysian company is suspected to be created by a Chinese national.
Brother Zhen found the license information of WeTrade Capital Limited on the official website of the Financial Services Authority of Malaysia (LFSA) and found that the name displayed on the contact person was very likely to be a Chinese national. Combined with the registration date of this ** from 2022-9-13 to the expiration of 2023-9-13, it is just one year, will this be created to harvest a wave of leeks and then run away?
Labuan Financial Services Authority (LFSA) is a money broking license provided by the LFSA, Malaysia's offshore financial regulator, and unlike other licenses, this license is the only license issued in Asia for Straight-Through Mode (STP) only. Brokers with this license can only operate order matching business and are not allowed to be the counterparty to any orders.
And the Malaysian license is also an offshore regulatory license The supervision is very low, and then because there are many foreign exchange trading frauds and complaints in Malaysia, given that Malaysia is a country where pyramid scheme investment or pyramid ** is rampant, so investors are advised to stay away from such brokers.
2) There is no foreign exchange regulation in St. Vincent.
This company is regulated by St. Vincentwetrade international llcAs can be seen from the screenshot of the official website of St. Vincent's SVGFSC, its registration date is 2022-3-1 and the ** registration time of the above Malaysian license company is in the same year, these signs all indicatewetradeIt's premeditated and you're making a capital disk!
Obviously, and the results of the St. Vincent regulatory license query also tell us obviously, this is also the nature of a third-party ** company! euro-caribbean trustees ltd.This company's homepage has an explanation.
Not on MT4 eitherwetrade capital limitedMalaysiawetradeinternational llcSt. Vincent's two companies are trading, and it's clear that they're here for the money! The probability of withdrawal is 0!! You don't know if you ran away!!
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And most importantly, this place in St. Vincent is not regulated on Forex!! Be sure to keep it in mind.
3) MT4 trading companies are not regulated.
There are two trading companies on MT4, which are:wetrade international co., ltdwithwetrade market limited
wetrade international co., ltdThe registered address is Malaysiawetrade market limitedThe registered address is in the United Kingdom.
Let's start with a Malaysian trading company.
It was not found on the official website of Malaysia (FSA).wetrade international co., ltdSo this trading company is not licensed to supervise, there is no regulatory license for companies to trade, and even other information about the company is not available! It's possible that this has already been logged out!!
Let's take a look at the UK trading firm.
It is not available on the official website of the United Kingdom (FCA).wetrade market limitedThe license information of this trading company, on the third-party company information inquiry platform, shows that the personnel information of the company WeTrade Market Limited found that the employees in it are all Chinese names, and Brother Truth suspects that this is a company opened by Chinese people, used to defraud compatriots.
The trading companies used by WeTrade are unlicensed, and the funds are not protected at all, if you deposit money in this is not to put money into the sea and you can't get it back, so investors are reminded to stay away from such brokers.