Winn Group ltd Review: Is winngroupltd.com a Scam?
Winn Group Ltd is a new broker that offers a wide variety of financial instruments for trading including CFDs.
Winngroupltd.com is claiming to offer trading in major and minor Forex pairs, Stocks, Indices, Shares and Cryptocurrencies.
They have multiple account types for self trading clients.
However, Winngroupltd.com does not provide information about minimum deposits, leverage and spreads (for the self-trading accounts).
In addition to this, the Winn Group Ltd is a website that does not accommodate the popular MT4 trading platform.
Last but not least, they claim to be based in London but are not showing us their FCA license details.
All brokers that offer financial or Forex trading services must be regulated by the FCA.
Any broker that does not have this authorization from the financial regulator is mostly a scam.
With all the issues plaguing Winngroupltd.com, we’re afraid that your business relationship with them will eventually hurt you.
You can find reliable and decent brokers by visiting this page.
Is Winn Group ltd legit?
We have several issues with this broker which will certainly lead to a bad conclusion.
By no means should people believe that this broker is legit.
The company is not authorized to offer any financial services to residents of the UK or people from all over the world.
It is very easy to register a company in the UK as this can be done at a virtual office.
Most fraudsters choose to register a Ltd company for the sake of feigning legitimacy.
Winn Group Ltd is also offering managed trading accounts provided traders can deposit a minimum of $10,000.
The broker is trading with a minimum leverage of 1:20 and charges 2% fees on these accounts regardless of whether a profit or loss is made.
In addition to this, they charge 10% on profits made in these managed trading accounts.
Furthermore, Winngroupltd.com is restricting withdrawals in the first 3 months.
In short, they will not give you any money within this period and you also never know if an unregulated broker will stick to their word after the 90 days are overdue.
The way we see it is that this broker is quite risky to invest with.
We can also spot lies across the entire website of this broker.
For example, they claim that Winngroupltd.com was founded in 2010.
When investigating these claims, we found that this broker’s website is very new as it was registered in 2020.
If they can’t be trusted with the smallest details, then don’t believe that any money sent to them will be returned to the owners.
This broker is basically a scam.