W7 Broker & Trading is a forex broker registered in Saint Lucia on February 23, 2023, primarily offering foreign exchange trading services to investors, with its corporate headquarters address unknown. The broker does not provide services to jurisdictions where it may violate local laws or regulations, including but not limited to the United States, Canada, Sudan, Syria, North Korea, United Kingdom, or Brazil.
Corporate Registration Information and Regulatory Status:
According to information publicly available on the official website of W7 Broker & Trading, it is registered in the International Business Companies and International Trust Registry (IFC) in Saint Lucia as W7 Limited, with the company registration address being The Sotheby Building, 1st Floor, Rodney Bay, Gros-Islet, Saint Lucia P.O. Box 838, Castries, Saint Lucia, and the company registration number is 2023-00049.
Verification has shown that the International Business Companies and International Trust Registry (IFC) in Saint Lucia has an entity registered under the name W7 Limited, registration number 2023-00049. However, this entity could not be found in the Saint Lucia Financial Services Regulatory Authority (FSRA) or other official financial regulatory institutions in different jurisdictions.
According to information obtained through Whois, the broker's official website domain was registered on June 19, 2019. Furthermore, as of February 16, 2024, the broker has been established for less than a year.
Opening an Account:
To open an account with W7 Broker & Trading: navigate to the broker's official website, click "OPEN LIVE ACCOUNT" on the homepage or "Register" in the top right corner of the webpage to enter the registration page, fill in personal information such as name, phone number, nationality, city of residence, email address, and set a login password before submitting. After submission, the account can be successfully registered.
Account Types:
W7 Broker & Trading offers users a demo trading account and three different types of real trading accounts: STANDARD ECN, PROFESSIONAL ECN, PRIVILEGE ECN.
STANDARD ECN:
- Spreads: Starting from 1.0 pips
- Trading Commission: $6.50 per lot
- Maximum Trading Leverage: 1:200
- Minimum Deposit Amount: $100
- Minimum Trading Size: 0.01 lots
PROFESSIONAL ECN:
- Spreads: Starting from 0.6 pips
- Trading Commission: $5.00 per lot
- Maximum Trading Leverage: 1:200
- Minimum Deposit Amount: $10,000
- Minimum Trading Size: 0.01 lots
PRIVILEGE ECN:
- Spreads: Starting from 0.3 pips
- Trading Commission: $4.00 per lot
- Maximum Trading Leverage: 1:200
- Minimum Deposit Amount: $100,000
- Minimum Trading Size: 0.01 lots
Trading Platform:
W7 Broker & Trading provides users with the MT5 trading platform, with servers provided by W7 Limited.
Deposits and Withdrawals:
W7 Broker & Trading supports users to make deposits and withdrawals through credit/debit cards, bank transfers, cryptocurrencies, and more.
Conclusion:
Traderknows reminds investors that W7 Broker & Trading is a forex broker without effective regulation. Traderknows advises investors to preferably choose brokers with strong regulation and a good reputation for their investment and trading activities, to avoid unnecessary financial losses.
Currently, this broker is marked as 'Suspected of Scam' on Traderknows.
