Note: WinGroup' official website: https://wingroup.net is currently inaccessible normally.
WinGroup is an online forex trading brokers, offering various trading products through their web-based trading platform. However, they operate their business without regulation and their website is not accessible.
Pros and Cons
Is WinGroup Legit?
WinGroup trading is just one more in the line of brokers that dont have any licenses. Besides, the current status of the domain is “clientTransferProhibited,” and its name servers are ns1.dan.com and ns2.dan.com.
What Can I Trade on WinGroup?
WinGroup offers Forex, Commodities, Indices, Shares, and Cryptocurrencies to trade.
Account Type
WinGroup provides five categories of live accounts: Diamond, Platinum, Gold, Basic, and Self Manage accounts. The required minimum deposits for these accounts are as follows: Diamond ($50,000), Platinum ($25,000), Gold ($10,000), Basic ($5,000), and Self Manage accounts ($250).
Leverage
WinGroup provides varying levels of maximum leverage for its different account types.
For the Diamond account, the maximum leverage is set at an impressive 1:400. The Platinum account offers a maximum leverage of 1:300. Both the Gold and Basic accounts feature a maximum leverage of 1:200. Finally, the Self Manage account has a more conservative maximum leverage of 1:100.
WinGroup Fees
On the trading platform, the benchmark currency pair EUR/USD exhibits a spread of 4 pips. Additionally, WinGroup imposes a monthly dormant account fee of 99 USD, which becomes effective after 30 days of inactivity. These conditions unmistakably indicate that the website is intended to extract funds from its users.
Trading Platform
WinGroup provides a web-based platform that includes essential tools for placing orders, customizing charts, and using technical indicators. However, it does not offer the more advanced functionalities available in the industrys most popular trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Deposit and Withdrawal
WinGroup allows deposits via credit or debit cards, as well as cryptocurrency transfers. However, exercise caution with crypto transfers, as they can be difficult to trace. According to the legal documentation, the minimum withdrawal amount is 100 USD for traditional methods and the equivalent of 250 USD for Bitcoin. WinGroup claims to impose a withdrawal fee of 1%, with a minimum charge of 30 USD. Most reputable brokers, however, typically do not charge transaction fees.
Customer Service
WinGroup only offers email to contact them.
The Bottom Line
In conclusion, WinGroup broker is not a legitimate entity and should be avoided, as it lacks the necessary license to offer financial services. Besides, it charges withdrawal and inactivity fees, typically not charged by regulated brokers.
FAQs
Is WinGroup good for day trading?
No.
Is it safe to trade with WinGroup?
WinGroup is an investment scam, and your funds are not secure with this broker, putting your money at risk.
Does WinGroup Offer demo accounts?
It does not provide demo trading accounts; you can only trade using a live account.
At WinGroup, are there any regional restrictions for traders?
Yes. It does not provides services for the residents of the U.S.
2023-03-16 17:43
