CWRNX is a contract-for-difference (CFD) broker with its official website domain registered on July 18, 2024. This broker primarily provides investment services to investors in trading markets such as forex, digital currencies, metals, energy, futures commodities, and indices. It does not offer services to countries and regions where doing so might violate local laws or regulations.
Company Registration Information and Regulatory Status:
Public information on the CWRNX official website shows that its company entity is CWRNX Limited, regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC), with license numbers 296805 and 700455, respectively. Additionally, the broker claims to be a registered member of The Financial Commission. However, the documents provided in the "Terms and Conditions" section of the broker’s website are merely images and cannot actually be opened.
Upon verification, the ASIC website shows that license number 296805 corresponds to the entity DLS MARKETS (AUST) PTY LTD, while the VFSC website shows that license number 700455 corresponds to DLS MARKETS LIMITED. Moreover, The Financial Commission does not list CWRNX Limited as a registered member, though DLS MARKETS is listed in their member directory.
Therefore, it can be confirmed that CWRNX is a clone website that uses the information of the DLS MARKETS broker, having neither a company entity nor any regulation.
Account Opening:
The account opening process at CWRNX involves visiting the broker’s official website, clicking "Open Account" at the top right corner of the page to access the registration form, entering your email address, and setting a login password. Afterward, you will receive a verification code in your email which you need to enter into the account application form before submitting it. Once submitted, the account gets registered successfully. To start funding the account and initiating trades, you need to complete a full KYC verification after login.
Account Types:
CWRNX offers two different types of real trading accounts: STANDARD ACCOUNT and ECN ACCOUNT.
STANDARD ACCOUNT:
- Trading platform: CWRNX
- Execution speed: Instant execution
- Products: Over 250 currency pairs, indices, commodities, stock CFDs
- Maximum trading leverage: 1:500
- Spread: Starting from 1 pip
- Trading commission: 0
- Initial deposit amount: $200
ECN ACCOUNT
- Trading platform: CWRNX
- Execution speed: Instant execution
- Products: Over 250 currency pairs, indices, commodities, stock CFDs
- Maximum trading leverage: 1:500
- Spread: Starting from 0 pips
- Trading commission: $6 per round turn
- Initial deposit amount: $200
Trading Platform:
Although CWRNX claims on its website to offer the MT4 trading platform, it actually uses a self-developed platform. The MT4 platform does not list this broker, and the provided download links for mobile apps do not function properly.
Deposits and Withdrawals:
CWRNX supports deposits and withdrawals through credit cards/debit cards, electronic wallets, and bank wire transfers.
Conclusion:
Traderknows reminds investors that CWRNX is a scam website that fraudulently uses the information of the broker DLS MARKETS. It has no actual company entity or regulation, and the only contact method provided is through email. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
