Reason to avoid: No license
Listed Date: November 28, 2018
Top 3 Regulated Forex Brokers
Beware GWIT is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: Giant Wave Information Technology Limited
- Registration/license: None
- Registration/license requirement: –
GWIT (Giant Wave Information Technology) is an online leveraged Forex trading broker. The company is owned and operated by Giant Wave Information Technology Limited, based in Hong Kong and claims to have representative offices in the major global financial hubs of London and Shanghai. The website states that GWIT is regulated by the US National Futures Association (NFA) under the supervision number 0513937. We have check this information and it turned out there is a company Giant Wave Information Technology Limited registered with the NFA, however, it has nothing to do with the GWIT broker that probably just uses the information and name of the regulated entity to get clients trust.
Moreover, the Securities and Futures Commission (SFC) of Hong Kong has recently banned the broker:
“www.gwitmarkets.com, The company’s Hong Kong address belongs to a secretarial company. Unlicensed entities often use names similar to legitimate companies to confuse investors”
In addition, the website of the broker lists the awards it has gotten, however, most of them are not even real. It is obvious that traders should avoid GWIT and choose among well-regulated companies. For example, the companies regulated by the UK’s FCA or Australian ASIC. These regulators guarantee the safety of clients’ funds as well as the compensation schemes in case of broker’s bankruptcy. Check the list of the FCA-regulated brokers.