ANSWER Wealthmax is not a licensed or regulated broker even though it states offers that look good to be true. Wealthmax claims to be one of the leading brokers in the financial trading industry and is regulated by the Global Financial Authority (GFA). So we searched this Authority GFA and found that GFA claims to be an independent public authority, which is the conduct regulator of more than 15,000 financial markets and financial services firms worldwide and the de facto regulator of 34,268 firms. But please be informed that the GFA is not a state-owned forex regulator and has no regulatory effect at all.The truth is, Wealthmax 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 Wealthmax and trade with licensed brokers.
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