Is Five Winds Scam or Legit Broker?

Five Winds is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

About Five Winds
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is Five Winds safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is Five Winds?

Five Winds Asset Management company is a new player in the European and global markets in the field of investment and consulting, as the company claims on its website. However, it is not clear where the company is located and which kind of investment and trading they offer, yet they promise a very high return while targeting clients from various jurisdictions, as well as concentrating on the Russian region.

  • Nevertheless, the company was detected for its fraud operating by German regulator BaFIN and Belgium FSMA. The authorities added the Five Winds Asset Management company to the warning list just a month ago since the broker was detected offering its financial services without proper registration to do so.
  • It is not a harm to operate with no license, however, financial investment companies within the EU are obliged to be certified, as most often non-regulated company indicated to be a scam. Moreover, the regulator stated that the company website as well as their representative does not provide a clear investment portfolio while claiming investment returns based on performance.

“The Financial Services and Markets Authority (FSMA) warns the public against the irregular activities of Five Winds Asset Management”

FSMA, Belgium

“The BaFin has ordered by decision of 21 August 2018 against and Five Winds Asset Management, Cape Verde, the immediate cessation of illicit driven investment management.”

BaFIN, Germany

Five Winds Review

 

Five Winds Review Conclusion

We advise staying far from the Five Winds company since the nature of their offerings looks like a fishy business. There are various regulated investment and trading brokers that offer vast opportunities to engage and trade, so it is better to choose among them. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and FBS.


Five Winds Update

Our research showed that Five Winds is no longer active. The broker’s website is unavailable to reach. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.

No news available.

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