Wise Wolves Finance Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Wise Wolves Finance Review.
Wise Wolves Finance Review
According to the information on its website, Wise Wolves Finance offers investment services related to financial instruments such as options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or other derivatives instruments.
As the broker is recently launched and got licensed at the end of September, 2017, there isn’t much information on its website yet regarding its trading platform and conditions. Demo accounts aren’t available either.
The Company. Security of Funds
Wise Wolves Finance Limited
Wise Wolves Finance (WWF) operates under the regulatory oversight of the Cyprus Securities and Exchange Commission (CySEC). This basically means that if you choose to invest in this broker your funds will be safer than if you select an offshore or unregulated company instead.
Although some of you may not think Cyprus is a major financial center, it has recently attracted lots of forex and binary options brokers. This is mainly due to the EU-membership of the country, which allows companies registered there to operate throughout the EU and the EEA under the MiFID passaporting regime. Besides, both the fintech sector in Cyprus are well-developed and the tax policy is rather favorable.
Forex brokers licensed by CySEC must comply with a number of requirements regarding capital adequacy, transaction reporting, clients’ funds segregation, AML policies, etc. Another important CySEC ruling is the participation in the Investor Compensation Fund (ICF). Brokers are required to pay a portion of their profits to a collective pool, which then serves to guarantee client claims, in case a brokers goes bankrupt. The coverage of this scheme is limited to €20,000 per account.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Wise Wolves Finance Review Conclusion
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