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WinMarket Review: A CNMV Warning on Winmarket.io

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WinMarket Review: A CNMV Warning on Winmarket.io

WinMarket is already facing a warning from CNMV. The parent company Seabreeze Ltd also has several holdings under the regulator’s radar. Most of their investing and trading platforms have already been flagged down. Win Market is no different as it has been blocking withdrawals from clients. However, those who signed up with winmarket.io are singing a different song. Please find out more in our exclusive WINMARKET REVIEW.

A Summary of WinMarket

WinMarket Review

Elegance and luxury are what the platform tries to sell once you land on their landing page. It has a couple standing in front of a yacht. We have seen this image used countless times before. And I, in most cases, used to seduce investors into signing up.

WinMarket is no different and is using compelling content and imagery to defraud investors. The members who signed up a while ago can’t seem to access their accounts. It seems the platform wants to keep them away from accessing funds.

And this is the reason you should do some research before investing. Make sure to find out the experience of other investors before committing funds. It’s the only way to ensure you sign up with a reliable investment platform.

You can also go for expert-recommended investment platforms with groundbreaking investment solutions. These include coin staking, DeFi, and Masternoding. These solutions make it easier to attain financial freedom.

Platforms such as winmarket.io don’t have any interest in offering reliable investment solutions. All they want from investors is their funds. After funding the account, that’s the last you will hear from them.

With a warning from the CNMV, other regional regulators plan to issue a warning to investors. Naturally, it will create panic, and the platform will want to go away with as much as they can. And this is why we have to protect investors.

Accounts and plans WinMarket

Win Market offers three account types that come with a different set of features. One of the few positive aspects of these accounts is the set leverage. The platform follows industry rules when it comes to maximum leverage.

Investors have the option of choosing Basic, Standard, and Advanced accounts. Here’s a closer look at each of these accounts;

Basic

It’s the account for beginners and offers a few advantages. The leverage set for this account is 1:25. In the states, regulators have a maximum allowed leverage of 1:50 for retail traders. You have to deposit $250 to start using the account.

Standard

For standard account holders, there’s no quota on the acceptable minimum deposit. Some of the account features include spreads from 0 pips and three trading signals per day. The account also promises account insurance of up to 30 percent.

Advanced

As the name suggests, it’s the most exclusive account. Members have to deposit $20,000 to start using it. You get account insurance of 70 percent and up to 75 percent bonus. Members earn five trading signals daily, and the leverage is set at 1:50.

WinMarket Accounts

Account Insurance WinMarket

The platform wants to make members believe their funds are safe. And this is why the platform claims to offer deposit insurance. However, from what we have seen, there’s no insurance cover for deposits made.

Your funds are at risk of falling into the wrong hands. The platform is not compliant and, as such, doesn’t offer insurance cover. In addition, WinMarket does not deposit the required minimum deposit amount with regulators.

The amount is used as insurance cover for deposits made. We also suspect the platform is pooling funds in one account. Win Market is probably holding all deposits into an offshore bank account.

It makes it next to impossible to try and recover funds. Those who hire recovery agents end up losing more funds. These agents don’t have the power to freeze the bank account and demand compensation on behalf of members.

Bonuses on offer

Winmarket.io claims to offer bonuses on all accounts. These bonuses are incentives for members to deposit more funds. Unfortunately, the bonus ends up being a burden for members. The platform will use the bonus to random your account.

And this is the reason regulators had to step in and ban platforms that offer bonuses. Before you withdraw your funds, the platform will want a fresh deposit amount equal to the bonus. So if you thought the bonus was a gift, it’s a loan.

It changes the dynamics of the platform and appears to be a legal tender provider. That’s why regulators are against platforms that fail to offer bonuses. Therefore, you should avoid such platforms or end up incurring penalties from such platforms.

Business Holder

Seabreeze Partners Ltd is the company listed as the owner of the platform. The Commonwealth of Dominica is the headquarters of the company. So we get why the entity would get their registration in that area.

To avoid heavy regulatory requirements, institutions turn to offshore locations. There are no records of the people who own the platform. We also don’t have the names of staff members working for Win Market.

And this makes Win Market an anonymous investment platform. Therefore, it would be best to avoid it as funds are not safe with an unknown entity. Investors should instead opt for convenient investment platforms that are transparent.

Compliance, License and, regulation WinMarket

Is winmarket.io really regulated?

Win Market is not a licensed platform and has a warning from CNMV. A warning from such a platform will make the platform panic. It will make the platform want to shut down shop as soon as possible.

Avoid platforms that have warnings as regulators want to safeguard your interest. Instead, make sure to use platforms regulated by official bodies. These include CySEC, FCA, and NFA. Other reputable regulators include ASIC, BaFIN, CFTC, CONSOB, FINMA, FMA, and the SEC.

Regulators ensure all parties follow strict guidelines, with no party taking advantage of the other. A warning from a regulator means the platform is in breach of trading regulations. And this is the reason we have to flag WIN MARKET.

Contact and customer support

When choosing your trading platform, make sure to check how reliable their support structure is. Go for platforms that offer direct means of communication with staff members. One way is having a live chat session with an actual representative.

Win Market doesn’t offer such and instead relies on email communication. It’s a one-way communication channel that limits any direct interaction. The owners want to control the communication process as much as possible.

Deposit and withdrawal

Funding accounts is straightforward as the platform avails several depository methods. These include bank and wire transfers. Once you fund your account, the balance will reflect on your trading account within 24 hours.

We don’t recommend it as withdrawing funds is a huge issue. For the past few weeks, members can’t access their funds. It’s an attempt by the now exposed platform to default payment from members.

Trading Platform

Instead of availing of a reliable trading platform, you get a custom-built trading terminal. The problem with custom-made platforms is instability. In addition, these platforms lack testing from experts leading to huge losses.

We recommend using reliable investment platforms such as MT4, MT5, and SIRIX. These terminals offer investors credible investment solutions. It’s what you need to stay ahead of the pack.

Custom Trading Platform Win Market

Verdict

There’s no way we will recommend a blacklisted platform. So please stay away from winmarket.io.

Instead, use approved investment platforms that offer safety and a chance to earn real profit. It’s what experts use to succeed with forex investing.

If you have any questions, feel free to email us.

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