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Webullforex -

No Regulation

Score

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/10

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

Webullforex

United States|1-2 years|

High potential risk|

https://webullforex.com/en/index

Website

Open Account Time Machine

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. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

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Company Name

Webullforex

Abbreviation

Webullforex

Platform registered country and region

United States

Company website

https://webullforex.com/en/index

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 3

Previous Detection : 2024-11-15

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

The current information shows that this broker does not have a trading software. Please be aware!

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MT4/5 Identification

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Webullforex · WikiFX Survey

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Webullforex · Company Summary

Webullforex Review Summary in 8 Points
Company name	Webullforex
Registered country/region	USA
Regulation	Unregulated
Trading Platforms	Tradingweb
Market Instruments	foreign exchange, precious metals, energy and major global indices
Maximum Leverage	1:100
Spread	Basic trading spreads are as low as 0; floating spreads as low as one point
Customer Support	Email: 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

Pros	Cons
Various Market Instruments	Not 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 Platform	Supported	Available Devices	Suitable for
Tradingweb	✔	web,mobile phone	Anyone

Deposit And Withdrawal

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

Review 9

9 Comments

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All(9) Latest Neutral(1) Exposure(8)

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

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!

This page scams and misappropriates investors' assets

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 😂

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.

The external support has deceived us, and they promise to solve the problem.

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.

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