A shady Forex broker like WideCFD will scam you and then block your account or fail to respond to your emails altogether. Wide CFD is one of the multiple websites owned and operated by a shell company known as Evergo Ltd. This fraudulent company was also in charge of running the now defunct tradefm.co. After scamming victims using their tradefm website, they have now crossed over to another project.
WideCFD is the new project that intends to run away with victims’ money under the pretence that it is a legitimate broker albeit the platform being managed by internet thieves. Creating wealth from the internet requires the right platform coupled with the best trading or investing tools. If you make one mistake of unknowingly choosing a scam broker or using a bogus trading system or signals, you’re going to lose a lot of money.
WideCFD Review: Ways in which Wide CFD is luring victims into their platform
It’s an undisputable fact that the company is running an aesthetically pleasing website which plays a major role in persuading unsuspecting victims into signing up and depositing money.
The website states that they care for customers. Just like InvestFW and other fraudulent Forex brokers, Wide CFD is giving its clients a deposit bonus of 100%.
And the problem is that WideCFD is basically going to use their oppressive terms and conditions to deny you any withdrawal requests that you will make.
Do not accept a deposit bonus unless it is from a trusted broker.
Obviously Wide CFD is offering the popular MT4 software as well as mobile trading platform for clients who hope to trade on the go.
MT4 is nowadays a common stable among Forex brokers, so it shouldn’t be viewed as an extraordinary feature.
And they offer Forex, Stocks, Indices and Commodities for trading. The variety is good but this does not mean you will make any money from this suspicious trading platform.
Wide CFD is intending to steal at least $500 from you
This is the minimum deposit that WideCFD wants you to deposit in order to qualify for their standard account type.
If you want signals, trading education and additional leverage, the broker will entice you to deposit as high as $50,000 for this type of account.
Falling for this trick will mean losing $50,000 to the scammers.
A proper broker should give you additional leverage at no cost. But remember that leverage can still ruin your trading even if you’re using the best Forex broker with a positive reputation. So keep it to the minimum.
How to recover your money if you have been scammed by WideCFD
Since the broker is out to scam you by taking your money and not giving you any explanations later, you need a plan of how you will recover your funds especially if the amount involved is big.
Do not count your ‘profit’ in the trading account because this is often used as part of the trick. What you have lost to the broker is the initial deposit, and this is what you will be initiating a chargeback for.
You can start the recovery process by utilizing the chargeback livechat on the lower right side of this website. You can also fill the form in this review and then submit for free analysis of your case.
Through these steps, we’ve helped a lot of victims recover lost funds from scams that operate in a similar fashion to WideCFD.
We forgot to say that this broker is also not regulated and there is also a warning against them that was issued by the Italian financial regulator called Consob.
If you see warnings of this nature, you should avoid the broker at all cost.
We hope this review has enlightened and saved you from potential financial ruin in the hands of fraudulent people.