WinzoFX is not a licensed or regulated broker even though it states offers that look good to be true. WinzoFX claims it was founded In 2006 and has over 11 years of experience In the online financial field. But when we checked its domain, we found it was newly created on 5 Apr 2022. So how could it start its business in 2006? It is a red flag here.
Besides, WinzoFX claims to be a regulated broker In the EU, Japan, Australia, South Africa, and The British Virgin Islands. As per this info, we searched in several regulatory bodies, including:
1) The Japan Financial Services Agency (Japan FSA);
2) The Australian Securities & Investments Commission (ASIC);
3) The South Africa Financial Services Conduct Authority (FSCA);
4) The British Virgin Islands Financial Services Commission (BVI FSC).
However, we did not find any match results to WinzoFX in the above watchdogs' registries.
What's more, WinzoFX shows its company address is in the United Kingdom. As per United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK Financial Conduct Authority (FCA). But there are no match results to WinzoFX in FCA's registry.
The truth is, WinzoFX is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like WinzoFX and trade with licensed brokers.
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