Weiss Finance Forex broker which also offers cryptocurrency trading services is one of the latest entrants in the industry. It was started in August 2017. The company which offers support in both English and Germany has an aim of becoming one of the best in the industry. However, like every other FX broker, it must be subjected to the usual test to help us determine whether it is a worthy broker or not. In this Weiss Finance review, we are going to look into licensing, registration, types of accounts and customer service to help us make a case for or against the broker.
Weiss Finance Review
The registration and licensing of Weiss Finance Forex broker
Being one of the newest entrants into the arena, Weiss Finance came with some hype. The company is registered in Bulgaria. According to the official page of the broker, Weiss Finance site is owned by and operated by Carter Enterprises OU. The firm’s address is Roosikrantsi tn 2-K326 in Keslinna city district, Tallinn, Harju County. The operational address is 85 James Bouchier Blvd, Sofia in Bulgaria.
As for the license and regulation, the firm hasn’t provided any details. It has been the norm for online FX brokers to display their licensing details on their website mainly so that traders can see that they are reliable and credible. It then follows that www.weissfinance.com scam reports are not far-fetched given that you can’t tell whether the firm is legit or not.
The trading experience at Weiss Finance
According to Weiss Finance website, the firm was opened so that it can provide account holders with a robust trading platform and a highly professional support team. Account holders are promised online training through regular webinars and also personalized customer service. The firm also offers account holders economic calendar which is crucial when a trader wants to succeed. At Weiss Finance, you can opt to trade in one or all of the following;
- Binary options
The different types of accounts
When you browse the website of the broker, you will be disappointed to find out that the money matters are well hidden in the T&C document. In the long document, the firm says that the minimum initial deposit is $250. The minimum amount a trader can withdraw is $100 and the minimum allowed amount per trade is $25 while the max value is $2,500. Unlike many FX brokers, Weiss Finance does not provide traders with a variety of accounts. As for the Weiss Finance bonus, there is none, at least from the official website. There are reports, however, that customers can get bonuses at the discretion of the management.
Weiss Finance seems to be a good FX broker but only if you look at the website at a glance. Further perusal will reveal that the support team only offers support in two languages as stated above. Even though the broker has provided a glossary, the information found there is quite basic. It is not hard to see why Weiss Finance scam claims are increasingly becoming common.
Is Weiss Finance legit?
The first thing that we will look at is the license and regulation of the broker. As it is indicated above, the broker is unlicensed which means that a trader who deposits money with the broker and thereafter loses it has no legal recourse. The broker has not invested in the website and a quick look at the website will tell you why. In short, this is not a broker to trust your hard-earned money with.