CAWADA is not a licensed or regulated broker even though it states offers that look good to be true. CAWADA claims to be registered and incorporated in St. Vincent and the Grenadines Financial Service Authority (SVG FSA). However, we did not find any match results to CAWADA in SVG FSA. Besides, SVG FSA does neither issue licenses for forex brokers nor regulate forex activities.
CAWADA also claims it is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number: 138/11. When we searched in CySEC, we found the license number belongs to a company named "Topfx Ltd". As per the detail of this licensed firm shown by CySEC, the approved domains of Topfx Ltd include: "www.topfx.com and www.fondex.com". That means CAWADA has no connection with Topfx Ltd since the former's domain is not included in the approved domains of Topfx Ltd.
The truth is, CAWADA is not overseen by any regulators. That means investors' funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like CAWADA and trade with licensed brokers.
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