Walfa.co is a little-known website proclaiming to be the “number 1 brokerage in the world”. The marketing department of Walfa.co is skillful in capturing the attention of traders using statements that imply this is the best broker with the right qualified staff who will help us turn our small savings into profit. They plan to help the trading community achieve this sucess through free analysis and signals.

Now you must wonder whether this broker is being legitimate or using cunning tricks in their marketing literature to lure victims into an intricate scam.

We got you covered in our Walfa review.

Things that Walfa is professing on their website:

• Customer satisfaction-oriented approach.
• Strong financial structure.
• Withdrawals round the clock.
• Free training and asset management.
• Fast and secure services.

It’s great to hear all of the above declarations. However, we have to assess their promises first because remember that Walfa’s license is absent, yet they continue to market their brand boldly claiming that they’re the “number 1 Forex broker in the world”

Basic information about Walfa broker

Website	https://walfa.co/
Company	IT GUARDIA SP Z O.O
Address	14 Tuchlauben Vienna, Austria 1010
Email	support@walfa.co
Phone number	+4369010104608
License	❗ None
Assets for trading	Forex and CFDs
Min. Deposit	$10,000

Assessing the website of Walfa brokerage

The website of this broker is rather simple but it also keeps urging people to sign up immediately. It consists of paragraphs of texts and images related to trading the financial markets. As the visitor keeps perusing the homepage, they will find a nonsensical statement that says this broker has “helped people reach tier-1 liquidity in foreign exchange, commodities and stock market”. What do they mean here?

They also use the same space to let us know the broker’s values which encompasses financial strategy, free trainings, asset management operations and belief that they can help you achieve success.

In general, there’s a lot of self praise here and there and we keep wondering whether clients of Walfa are speaking the same voice as the broker.

The client portal and the trading platform of Walfa brokerage

In order to find out whether we like the client portal and trading platform, we must sign up like a client would do and go through the dashboard to pick the details that we want to write here.

At first, they give you a very simple form where you can input your email and password. Hit the “register” button and the website will take you to a second form which will collect personal data such as name, phone number and email address a second time. We suspect that collecting your address a second time gives them a chance to verify whether the email you used is the correct one.

In our opinion, it would have been convenient if this broker provided a single form with all the input areas on one page so that when we hit the ‘register’ button, there would be a seamless transition into the user dashboard. It saves web resources and we make the world greener.

This is a rather minimalistic client dashboard that still gets the job done nevertheless. The trading account is in EUR currency by default. From this user dashboard, we can create demo as well as additional real trading accounts. On the other hand, the tools menu provides a download link of the trading terminal. In this case the broker supports MT5 software as well as mobile trading through iOS and Android apps respectively.

Last but not least, the user dashboard gives us the ability to verify our identity, access the MT5 WebTrader, economic calendar and technical analysis news. Deposit and withdrawal operations are also included in a separate section of the user dashboard menu.

Of particular interest is the MT5 WebTrader terminal of this broker. It is tidy and convenient. We have always had an affinity towards it because it is the industry standard. All the other options come second.

The MT5 WebTrader terminal provides us with a list of many assets for trading. The charting platform is neatly displayed in candlesticks format where we can also switch timeframes from low to high and vice versa as well as execute new or pending orders respectively. In general, we did not face any problem here.

Broker account types

Walfa provides its clients with up to 11 different account types. Some of the account types are allegedly meant for “savings” where the minimum deposit is $10,000 and annual returns are withdrawable after 6, 12 or 24 months. The minimum ROi is 0.5% while the maximum is 4.8%. The bigger the savings account, the higher the ROi.

Savings account is not something that is typically offered by retail Forex brokers. In many cases, this is a product offered by licensed financial institutions like banks and micro finance entities and not retail Forex brokers. A broker would need a special banking license to legally provide this service.

Features of Walfa trading accounts include bonuses, market news, weekly market reviews, education, trading alerts, EA trading, personalized trading assistance, portfolio manager, VIP events and many more. The higher the deposit, the more the features you’ll get in your trading account. Deposits start at $10,000.

The demo account which this broker provides is not an exclusive feature since all MT5 brokers offer it. While this broker still lets us practice to horn our skills before going live, we still feel that the 10K deposit requirement is a hefty investment and a risk that traders shouldn’t take unless they are well versed with trading dynamics. We attain this trading acumen after years of practice and trading on a live account.

❗ Walfa has not disclosed leverage information in their trading account features. When we signed up, they didn’t give us a chance to select leverage.

Is Walfa a scam brokerage?

The broker is operated by a company called IT GUARDIA SP Z O.O which is based in Austria but not licensed by any financial regulatory authority. We head straight to the Austrian financial regulator database to try and see whether we can find this company here.

It is not in this database. In other words, there’s no legality in the operations of Walfa broker and engaging with them in any trading operations could lead to losses.

Domain information

The broker professes a 10 year track record but it’s interesting to see that their website was just registered in September 2023. It doesn’t portray this experience. This compromising situation leaves the broker looking like a liar and an untrustworthy entity. How can we believe them when they say that Walfa.co is the number one Forex broker in the world? The reality doesn’t reflect those sentiments.

Pros and Cons

Summary of this Walfa broker review

Lack of a license certificate for this broker is a big negative factor. They’ve also been in operation for just 2 months and they’re already demanding your 10K deposit. We did not find any consumer reviews and the broker definitely lied about their decade experience. This is the perfect definition of a broker that will give you a negative experience. They’re likely to frustrate you or even give you unnecessary heartache when you want to get your funds out of the platform. In our opinion, Walfa.co is a broker to avoid.

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