Read our Wavefx review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a wavefxltd.org review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Wavefx is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Wavefx in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Wavefx Review Conclusions
Making the Wavefx review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Wavefx review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
I have a feeling that I have been scammed by the wavefx capital.com.the lady by the name of Nelisiwe masango, which I also suspect Tha maybe they just using her name. To make the story short after I traded for 5 hours she told me to log out and show me the amount I made. The she said I need to pay 3000 for withdrawal and she insisted on that. I do not pay it that is my story. And the logins is not working.
I got scammed by a person who was impersonating one of the guys I’ve been following for learning about the crypto world. He messaged me via twitter and I checked the page but without my glasses on I didn’t see that this imposter twitter account was ONE letter off. Everything else looked exactly the same and had the same pinned tweet at the top as the real guy.
I luckily only deposited $900 but for me that’s a lot of money. I told him i wanted to learn how to invest in small cap currency but i couldn’t find this currency on my crypto.com exchange. He told me to sign up for this exchange and sent me the link. Then he proceeded to pressure me into hurrying to get in on this major “pump” so I transferred $900 into there and basically now it’s stuck there!
He then pressured me to put more $$ in and at that point I knew something was up. I took pictures of our correspondence which he has since deleted on his end — so it looks like I am having a conversation with myself. But I have the photos from last night. I also took photos of the telegram conversation as he had me move over to that platform.
I have sent a request to get my $900 back and it says I cannot because my account needs verification. SO then I emailed them to ask how I can be verified and there is no response. I don’t know what to do next and I am really embarrassed but I really would love to have that money back. I have been saving for a while to begin investing.
Thank you for any help you may have for me and if you know of any agencies who have already helped others, I would love that information as well.
Dana, have you solved your problem ? My wife has just gone through exactly the same scenario as you with regards to someone trying to scam you. She is using WaveFx and has found a way to start entering your verification details. Let me know if you’re still stuck and I’ll let you know how she started the verification process.