Winvestock Review – Uncovering the Truth about the Broker

Winvestock Review

Have you been looking for an online broker to begin your trading journey? It does not take people long to realize that this search is not as simple or straightforward as they may have assumed. This is due to the sheer number of companies that have been established to offer their trading services and to top it off, almost all of them make big promises to leave you unsure and confused. The important thing to remember is that just because a company is promising something does not mean it can actually deliver. This is what this Winvestock review highlights.

The internet has made it easy for anyone to set up their website and offer their services, but whether they can actually do so or not will depend on the company. It is your job to figure that out and get to the truth because it can help you make the best decision for your trading journey. As tempting as it might be to skip all the hassle and just go with the first broker you come across, you should not forget that this can result in disastrous consequences. What are they?

As mentioned earlier, there are numerous brokers operating in the financial markets and while their services may vary, you need to note that not all of them are legitimate. Even if the website looks good and appears to offer everything, it may still be a sham underneath. Thus, it is your job to uncover the truth about a broker instead of falling for their appearance. It is not wise to trust them based on their promises and claims alone because they can come back to haunt you.

The same can be said for Winvestock, which is one of the brokers you will come across in your quest. You need to uncover the truth about this company before you sign up and you have to look closer to find out. Let’s begin.

License and regulation

There are licensed and regulated brokers in the market as well as unlicensed and unregulated ones. Which ones should you go with? Signing up with the latter seems easier because they have less prerequisites and their offerings may also be very tempting. But, you should not forget that there is always a catch. When something sounds too good to be true, it usually is.

Every trader should be aware that an unlicensed and unregulated broker cannot offer the safe security and peace of mind that you can expect from their licensed and regulated counterparts. Moreover, the latter are also professional and fair. Where does Winvestock come in? A look at its website shows that the brokerage claims to be based in Belgium, which makes it part of the European Union.

However, either the address provided on the Winvestock website is fake, or the brokerage is operating illegally because it cannot possibly be regulated or licensed to operate anywhere in Europe. This is because it is breaking several rules that are applicable on brokers operating throughout the European Union. If a company is lying about where it is based, or is operating illegally, it is a big red flag and tells you that you should avoid it.

Bonus policy

Checking the policies and conditions that you have to comply with when you sign up with a brokerage is also a must in order to avoid any rude surprises. In addition, it ensures that you know what you are getting into and are prepared to handle it. A look at the policies of Winvestock reveals that the brokerage offers a bonus. While some may consider it an advantage, after all who does not want a bonus, but it is not a good sign.

First off, it is not permitted for brokerages operating in the European Union to offer bonuses to retail traders and Winvestock claims to be based in Belgium, a member state of the EU. This means it should not be offering bonuses either. Secondly, trading bonuses were banned in the first place because they came with strings attached that were usually malicious and meant to exploit traders.

This is exactly what you will come across when you check out Winvestock’s bonus policy. It indicates that you will not be able to make withdrawals until you have achieved a certain turnover and this turnover requirement is such that you will not be able to reach it at all. Why? This is because for a $100 bonus, you have to have a turnover of $1 million.

Even the most professional traders cannot achieve this anytime soon, which is what Winvestock wants because they just want to make sure you cannot make withdrawals.

Trading platform

It is a good idea to check the trading platform that you will be offered because it will shape your trading experience with the broker. You will spend most of your time using this platform and it provides you with the tools and features that are helpful in the trading process. Hence, it is smart to know what you will be given.

When you take a look at the Winvestock trading platform, you are going to be disappointed because they have a basic web trading platform that has nothing special to offer. It does not even come close to the professional trading solutions like the MT4 and the MT5 that are offered by most genuine brokerages.

Trading conditions

Since the trading conditions offered by a broker are directly linked to your profits, it is smart to go over them before signing up. A look at the spreads offered by Winvestock show that they may be decent, but the leverage ratios are alarming. This is because it offers you leverage as high as 1:100.

Given that Winvestock has claimed to be based in Belgium, it should not be offering you such leverage because regulations in the EU dictate that leverage as high as 1:30 can be offered and no more.

Final Word

All of these aspects of Winvestock reveal that you are not dealing with an authentic broker and should not open an account with it.