Wolves Trade FX

Wolves Trade FX has pretty much met all our expectation, none of which were good to begin with. This broker is nothing special, and does not really try to be. All there is to it are a deceptive claims on top of other lies. What users will get is a complete waste of time and money.

The website of the broker blindly present us with a US address, as if though to be a broker in the United States is a no-bigge; as if anyone can do it. The reality cannot be further away from these blatant assumptions. The United States has proven on many accounts that its market industry is the most heavily regulated in the world, and as a consequence, the hardest to break into. There are only a handful of broker operating in the US today, and most of these are multi-million powerhouses that have been at the job for decades. There is no possible way for Wolves Trade FX to function legally in the US.

Moreover, we find that the broker is actually using a different trading name. One SuperTradesFX.com is one of two companies being held by Super Trade FX, the other being Wolves Trade FX. Both firms look very alike – apart from some small details- and it is pretty obvious that they are spawned by the same team of fraudsters. All this information we took from an official FCA warning.

Honestly, there is nothing else to say than this: Wolves Trade FX is not licensed, and therefore presents a risk to all investments.

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

There was no registering with the broker, because we never received the necessary login credentials from our email, after we had completed the registration form. Without an account, we have no choice but to trust the website, even though we do not.

And so, the site reveals that there is a 0.2 pips spread, which is the lowest value for certain undisclosed FX pairs. The leverage has been capped at 1:500. Promoted tradeable instruments include stocks, indices, forex currency pairs, and commodities.

WOLVES TRADE FX LOGIN

We could not use a trading software because we had not opened an account. This happens.

Yet, the unfortunate part is that there is no proof on the website that the broker offers a trading terminal. There is a clear lack of downloadable links, or of any promoted products.

Therefore, we have the full right of asking whether Wolves Trade FX offers a trading software? Seeing how things are developing, we are more inclined to think that no, Wolves Trade FX has no platform.

WOLVES TRADE FX MINIMUM DEPOSIT

Unlicensed brokers are well-known thieves that take without the moment a user lets them, and very rarely give back.

On the website, the broker claims that the minimum deposit is $500, but honestly there is no trusting this claim.

Other than this, there are no payment details. Wolves Trade FX completely forgoes all payment methods, and any specific conditions. Users are left to fend for themselves.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

WOLVES TRADE FX WITHDRAW TIME AND FEES

All withdrawals will be rejected, and requests cancelled. It's the same old story of a broker stealing deposits.

What makes Wolves Trade FX even more dangerous is the fact that there are no details on a withdrawal anywhere on the site. If you needed another reason not to trust this scammer broker, well this is it!

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

Wolves Trade FX is one of those brokers that after a glance, you know for sure that you will be dealing with a liar and a cheat. It's obvious that the firm relies on the naivete of novice users. What ever you do, do not invest in Wolves Trade FX!