WasixCap has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Quantumprimeprofit. We’ve received over 3 complaints against WasixCap.
WasixCap, an unlicensed Forex broker, has been identified for engaging in risky operations characterized by deceptive practices such as making false regulatory claims and conducting non-transparent client dealings. The article highlights concerns about the legitimacy and safety of the platform, as it has a high entry barrier and unclear payment methods, which resemble tactics used by scammers.
Get Your Money Back From These Scammers!
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Key Takeaways
Is WasixCap Regulated? Do They Have a License?
The fact that WasixCap operates as an unlicensed Forex broker signifies that their activities are fraught with substantial danger. Among the deceptive practices alleged against the broker are fabrications regarding its regulatory standing and location.
Critical client information is not presented in a transparent manner, shady incentive schemes are implemented, and the deposit policy is subject to scrutiny. Additionally, entry to their services is limited via a promotional code system, which bears resemblance to deceptive strategies employed by scammers to mask their expertise.
Comparative analysis reveals that WasixCap lacks regulatory compliance, in stark contrast to the safeguards provided by brokers regulated in the United Kingdom, European Union, Australia, and the United States.
Due to their inability to procure a valid license and their purported Swiss Federation domicile, WasixCap’s assertion that they are headquartered in that jurisdiction causes skepticism.
This act of deceit implies that WasixCap may be conducting its operations from a refuge for fraud, where it is not required by law to safeguard client investments.
The lack of regulation or the presence of poor regulation is a huge red flag. It means WasixCap is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of WasixCap, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at WasixCap
WasixCap’s trading platform seems to be a basic web application lacking the functionalities and features commonly found in established trading software like MT4, MT5, and cTrader, rendering it unsuitable for a comprehensive examination.
The potential for manipulation to transpire on these platforms, specifically by unlicensed entities, heightens the risks linked to engaging in transactions with WasixCap.
WasixCap is notably unfavorable on account of its $5001 minimum deposit requirement. The amount requested significantly exceeds the minimum threshold set by reputable brokers, suggesting an attempt to secure the maximum possible capital from clients during their initial deposit, despite the high probability that clients will identify the fraudulent activity and refrain from further investments.
Deficiency in Payment Methods and Fees
The review draws attention to the lack of clarity regarding the accepted payment methods of WasixCap. Although WasixCap acknowledges prevalent industry practices to facilitate comparisons, the absence of precise details gives rise to apprehensions, especially regarding potential undisclosed deposit fees that serve as indicators of fraudulent activities.
WasixCap offers a diverse range of trading instruments, including cryptocurrencies, commodities, stocks, indices, and foreign exchange, which is comparable to the offerings of reputable brokers.
However, the broker’s credibility is additionally harmed by the lack of transparency regarding spreads, which stands in opposition to the competitive pricing tactics utilized by well-regarded firms and undermines the offerings of WasixCap.
The broker’s policy of limiting leverage to 1:25 across all asset classes is incongruous with the inherent diversity of risk profiles observed in different markets. The lack of compliance with the competitive standards set by regulated brokers highlights an additional shortcoming in the services provided by WasixCap.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
WasixCap Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
WasixCap Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like WasixCap tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust WasixCap reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of WasixCap, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like WasixCap enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “WasixCap reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising WasixCap.
You should always look out for consumer complaints. In the case of WasixCap, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about WasixCap? You can share your complaint in the comment section or submit an anonymous tip.
Is WasixCap Legit Or Scam?
There are numerous concerns surrounding the operations of WasixCap, including deceptive practices, non-compliance with regulations, and restrictive trading conditions.
It is strongly advised that potential investors exercise the greatest caution possible and consider the safe alternatives offered by licensed and regulated brokers.
WasixCap is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind WasixCap can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust WasixCap?
All the evidence suggests that WasixCap is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is WasixCap a scam?
Can I withdraw money from WasixCap?
Where is WasixCap Located?
How do I get my money back from WasixCap?
How The WasixCap Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
