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Score

1.15 /10
Danger

Webullforex

United States

1-2 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://webullforex.com/en/index

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Comparison

Quantity 9

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index4.24

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

Webullforex

Company Abbreviation

Webullforex

Platform registered country and region

United States

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2024-12-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 7 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Exposure

9 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

The platform does not allow withdrawals.

The exchange does not allow withdrawals and requires a 20% tax payment.

2024-10-26 20:59
Scam

On March 5, he contacted me in

On March 5, he contacted me in the name of sending the wrong message on WeChat. Later, we developed into a relationship. He taught me how to invest in gold. He introduced his friend, investment broker, Mr. He to me. On April 7th and 8th, I transferred about 10,000 US dollars to the Japanese bank personal account designated by Mr. He. I followed his trading and made a profit of 7,800 US dollars three times. I did not withdraw money because he said there was still a big market and more funds needed to be invested. But no more money was invested. At about four o'clock in the morning on May 6, he sent a message saying that he was going to die and asked me to forget him. Then he lost contact. On the same day, Mr. He also lost contact after I said I wanted to withdraw money. On May 7, I applied for a withdrawal of US$7,000, but it was not processed. Customer service can't be contacted either. I believed him till yesterday, but now I realize that I was deceived.

2024-05-15 17:00
Scam

An analyst claims that the company was seized and a security deposit is required to recover funds.

A friend I met online gained my trust through chats about investment experiences and sharing aspects of life, then introduced me to their trading platform which appeared normal and legitimate. However, shortly after I started using it, the company's customer service recommended their analyst. They said that by depositing $50,000, I could obtain permanent analyst credentials. Subsequently, they introduced me to the analyst's Line account. After following the analyst's trading predictions which made me money, within less than a month, the analyst informed me that the company had been seized due to illegal funds invested by other clients. Now, to apply for a compensation plan which is currently under review, a 15% security deposit of the funds is required to recover the money and return it. In total, I transferred $13,450 + $5,000 (amount not yet credited), totaling $18,450 USDT.

2024-11-26 13:42
Unable to Withdraw

We met online, from friends to

We met online, from friends to lovers. His name is Chen Jianguo. He is said to be from Chengdu, Sichuan, China, and living in Singapore. He introduced his friend, Mr. He, an investment broker, to me and asked me to invest in gold and foreign exchange. On April 7th and 8th, I remitted 900,000, 600,000 yen, a total of 10,000 US dollars, to the Japanese personal account designated by Mr. He. Around 4:30 in the morning on May 6th, Chen Jianguo lost contact. Mr. He also lost contact. I applied for withdrawal of 7,000 US dollarson May 7th. It has not been processed yet. Unable to solve it.

2024-05-15 14:37
Unable to Withdraw

Attention everyone, today's exchange market

Attention everyone, you can deposit money into the platform now, but when you want to withdraw, they will ask you to deposit more money before you can withdraw. The customer service department is not available on the platform, so you can only contact them through Telegram.

2024-08-17 01:22
Scam

Customer Center Yeolrakandam Withdrawal is not possible

Hello.  I am a member of WebbleForex. user401346 is a member. I applied for a currency exchange of $293,000. The customer service center told me to charge a fee of 3,968,3627 won, so I did. However, they say that the money cannot be exchanged because the funds from a third party have been confirmed. I borrowed 81.2 million won from a friend and bought it. They said they couldn't exchange money for that money, so I asked for a solution. The customer center said that I had to deposit 81.2 million won to exchange it for $293,000. So I said I didn't have enough money. The customer service center said that if I deposit half of 81.2 million won, they would exchange 293,000 dollars. So I deposited 40 million won. Once again, the customer service center said they couldn't exchange money. I asked why it couldn't be done. They say they won't use it because their credit is bad. They say they can exchange $293,000 by holding on to the remaining 41.2 million of their friend's money at the customer center again. So, I asked for 20 million won and said they didn't have the rest, so they said they would do it if I used a friend's guarantee, but they said they wouldn't let me exchange money after using a friend's guarantee. They said they couldn't do it because my credit score was low. So time has passed 20 days. The customer center said it was frozen. They said they had to put up 10 million won to lift the freeze, so they put up another 10 million won. They said I had to raise my credit score to be able to exchange money, so they charged me 10 million won to raise my credit score. The Todashi customer service center asked for 11.5 million won, so they charged me 10 million won. And then the customer service center doesn't work.

2024-06-24 11:18
Resolved

Vietnamese register accounts

Vietnamese individuals register Facebook accounts in Cambodia to lure participants into foreign exchange investment with the intention of deceiving and misappropriating their assets. Everyone, be cautious! Facebook profile page Actual amount in the account On August 22, 2024, the recipient of the participation fee (i.e., customer care) requested a 25% tax on the total value of the account before withdrawing money. For example, only when 90,000 USD is subject to a 25% tax can the withdrawal order be executed. Withdrawals of smaller amounts are not allowed to be carried out 🥲 After 10 days of stating this reason and that By September 6, 2024, the account balance becomes 0 dong 🥲 Above, I present some images of the fraudulent behavior and misappropriation of assets of the participants. I hope that relevant parties can assist me. I have evidence of money transfers; date/month/year/amount of participation!

2024-09-06 20:52
Resolved

The external support has deceived us, and they promise to solve the problem.

I am a Webullforex user with account number 651884. When I requested a withdrawal of $245,755, the ST support service requested payment of a withdrawal fee, which I paid, and then requested payment of another identity verification fee. After completing all the payments, the support service stopped responding, and I have not received the money so far. Today, the WebullForex headquarters sent a statement explaining that an external support agent of their platform deceived us. They have asked us to wait and will soon resolve the issue. I trust their platform and only hope that they will pay me the money.

2024-07-06 00:10
Unable to Withdraw

This page scams and misappropriates investors' assets

Recently, I participated in 90,000 USD at this exchange. When I needed money, I requested support to withdraw from the exchange and was asked to pay a 25% tax according to the tax authorities' regulations. It's really unfortunate that I had to pay taxes on the money I deposited and withdrew 😂

2024-09-05 16:02
    Webullforex · Company summary
    Webullforex Review Summary in 8 Points
    Company nameWebullforex
    Registered country/regionUSA
    RegulationUnregulated
    Trading PlatformsTradingweb
    Market Instrumentsforeign exchange, precious metals, energy and major global indices
    Maximum Leverage1:100
    SpreadBasic trading spreads are as low as 0; floating spreads as low as one point
    Customer SupportEmail: bakktforex@bakktfxs.com

    Webullforex Information

    Webullforex is a broker headquartered in Denver, USA. It provides traders with access to market instruments including foreign exchange, precious metals, energy and major global indices.

    Webullforex Information

    Pros And Cons

    ProsCons
    Various Market InstrumentsNot regulated
    Lower than the industry average spreads
    Various deposit and withdrawal methods

    Is Webullforex Legit?

    You need to note that according to WikiFX's investigation, Webullforex is currently not regulated by any recognized financial authorities.

    Is Webullforex Legit?

    What Can I Trade on Webullforex?

    You can trade dozens of products including foreign exchange, precious metals, energy and major global indices.

    Tradable Instruments Supported
    foreign exchange✔
    precious metals✔
    energy✔
    major global indices✔

    Account Type

    We were unable to obtain further details about the opening of their account as the website did not provide relevant information.

    Webullforex Fees

    Basic trading spreads are as low as 0 and floating spreads as low as one point. In order to trade leveraged CFDs or Forex, you will need to deposit a certain amount of money with Bakkt Market as margin.

    For example, trading a 100:1 leveraged contract requires a margin of 1% of the contract value. Forex margin is calculated as follows: Margin = [number of lots * (contract size / leverage)] * opening price, in a standard account the contract size is 100 000 units for all Forex currencies.

    Webullforex Fees
    Webullforex Fees
    Webullforex Fees

    Trading Platform

    Webullforex offer one of the world's most popular and widely used online trading platforms (Tradingweb).

    Trading Platform
    Trading PlatformSupportedAvailable Devices Suitable for
    Tradingweb✔web,mobile phoneAnyone

    Deposit And Withdrawal

    We were unable to obtain further details about its deposit and withdrawal options as the website did not provide relevant information.

    User Reviews

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    User comment

    6

    Comments

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    FX2694468193
    0-3months
    網路認識的朋友透過聊天跟你暢談投資經驗分享生活取得你的信任後介紹他所使用的交易平台且交易平台看似正常且合法但在你使用不久後該公司客服推薦你他們公司的分析師說入金50000美金後可取得永久分析師資格後續介紹分析師的line帳號給我 經過分析師預測交易讓我賺錢後經過不到一個月的時間分析師通知該公司遭查封因為有投資客投入不法資金，現在要申請賠償方案待方案通過需支付資金15%的保證金才得以追回資金並一併退回現在正處於方案審核階段再來就是繳納保證金了 共轉入了13450+5000（還未入帳的金額） 共計18450USDT
    網路認識的朋友透過聊天跟你暢談投資經驗分享生活取得你的信任後介紹他所使用的交易平台且交易平台看似正常且合法但在你使用不久後該公司客服推薦你他們公司的分析師說入金50000美金後可取得永久分析師資格後續介紹分析師的line帳號給我 經過分析師預測交易讓我賺錢後經過不到一個月的時間分析師通知該公司遭查封因為有投資客投入不法資金，現在要申請賠償方案待方案通過需支付資金15%的保證金才得以追回資金並一併退回現在正處於方案審核階段再來就是繳納保證金了 共轉入了13450+5000（還未入帳的金額） 共計18450USDT
    Translate to English
    2024-11-26 13:42
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    FX3809404122
    3-6months
    sàn không cho rút t bắt buộc nộp 20% thuế
    sàn không cho rút t bắt buộc nộp 20% thuế
    Translate to English
    2024-10-26 20:59
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    9