Note: SANDWIND's official website: https://sandwindbx.com/ is currently inaccessible normally.
SANDWIND Information
SANDWIND is an Australia-based online brokerage firm that offers trading services in forex currency pairs, CFDs, indices, commodities, gold, and oil. However, several concerning issues have emerged, including the revocation of its ASIC license (license number 001292352), an inaccessible website, lack of customer support, and 9 negative reports on WikiFX. You should be aware of these warning signals and get rid of such a possible scam broker.
Regulatory Status
SANDWIND's ASIC (Australia Securities & Investment Commission) licenses numbering at 001292352 is revoked, indicating possible expired regulation or violation of the institution's rules.
Downsides of SANDWIND
Unavailable website: SANDWIND's website is inaccessible, which can be a major inconvenience and raises questions about its operational stability.
Regulatory concerns: SANDWIND's ASIC license has been revoked, indicating less compliance to industry standards and overall legitimacy.
WiKiFX exposures on withdrawal issues: There are 9 reports on WikiFX regarding withdrawal problems, indicating difficulties in accessing funds and a lack of reliability in financial transactions.
Lack of customer support: SANDWIND offers no customer support channels, leaving traders without assistance or means to resolve issues when encountering problems.
Transparency issues: There's limited info about account details, spreads, commissions, etc.
What Can I Trade on SANDWIND?
SANDWIND provides trading services to several trading instruments, mainly in 5 asset classes.
Forex: Forex, or foreign exchange, is the global marketplace for trading national currencies against one another, facilitating international trade and investment. SANDWIND offers more than 35 currency pairs.
Commodities: Commodities are basic goods used in commerce that are interchangeable with other goods of the same type, such as precious metals as well as energyproducts like crude oil.
Indices: Indices are statistical measures that represent the performance of a group of stocks.
When dealing with investment activities, always adhere to the principle of diversification by allocating funds across various products rather than concentrating on a single one you feel optimistic about.
Leverage
The leverage offered by SANDWIND is capped at 1:300, which is higher than the standard usually below 1:30 set by EU regulators. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spread
On SANDWIND, spread starts from a tight level at 0.2 pips.
Trading Platform
SANDWIND boast the use of the industry-leading and widely used MetaTrader 5 (MT5) platform.
It is popular for user-friendly interface and robust features such as built-in charting options, technical indicators, automated trading through Expert Advisors (EAs) and advanced order management capabilities.
Deposit & Withdrawal
SANDWIND accepts multiple options to fund your accounts: credit/debit cards (Visa, Mastercard, and Maestro), Wire transfers, Skrill and VPay.
2023-03-02 13:50
2022-10-14 08:19
