The forex industry is infamous for scams and frauds. Unfortunately, numerous individuals have fallen victim to fraudulent brokers and lost their hard-earned money. It is important to thoroughly research a forex broker before investing your funds. This article is a review of Joywealth, a broker that has raised concerns among traders.
Overview:
Joywealth is a forex and CFDs broker that claims to offer online trading services to traders worldwide. The broker website is available in English, Chinese, and Vietnamese. According to the website, Joywealth aims to provide traders with a platform to trade forex, commodities, indices, and stocks. The company provides its services through the MT5 trading platform.
Is Joywealth Regulated?
One of the most critical factors to consider when choosing a forex broker is whether they are regulated or not. Regulated brokers are accountable to regulatory authorities and must follow strict guidelines. Joywealth is not regulated, which raises concerns about its credibility and legitimacy. Investors should be cautious while dealing with unregulated brokers as they are more prone to fraud.
We did not find any other tab or menu on their website. Just this login and registration form.
Warnings from Financial Regulations:
Several financial regulatory authorities have issued warnings against Joywealth. The British Columbia Securities Commission (BCSC), the New Zealand Financial Markets Authority (FMA), and the Cyprus Securities and Exchange Commission (CySEC) have all issued warnings against Joywealth for providing unauthorized investment services.
What Currency Pair Do They Offer?
Joywealth provides access to trading several currency pairs. Traders can trade major currency pairs, such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD, as well as minor and exotic currency pairs. The broker also provides access to CFDs on indices, commodities, and stocks.
Customer Support:
Joywealth provides customer support through email and phone. The website does not provide any live chat support or online contact form, which is a drawback. However, traders can reach out to the support team through the provided phone numbers or email addresses.
Trading Method (MT4/MT5/Any other method):
Joywealth provides its services through the MT5 trading platform. The MT5 platform is an advanced trading platform that offers numerous features such as multiple time frames, technical analysis tools, and more. The platform is accessible via desktop, web, and mobile devices, providing flexibility for traders.
What Do Traders Think About Joywealth?
Numerous traders have raised concerns about Joywealth’s services. Several traders have reported difficulty in withdrawing their funds, and some have reported that their accounts were closed without any prior notice. Traders have also reported that Joywealth’s customer support is unresponsive and unhelpful. These concerns raise significant questions about Joywealth’s credibility and reliability.
What To Do If You Get Scammed?
If you suspect that you have been scammed by Joywealth, there are several steps you can take. First, you should immediately stop trading with Joywealth and withdraw your funds if possible. Second, you should report the incident to the regulatory authorities that issued warnings against Joywealth. You can also report the incident to online forums and social media platforms to warn other traders.
Also, you can submit your case to us. We will provide you with a free consultation and service recommendations to help you in recovering your lost funds.
If you face scammed and lost money to companies like btc-coin, Coinfield, or ABC Meta, please report it today by bellow form.
File A Complaint & Get Free Consultation
Final Thoughts:
Joywealth raises significant concerns regarding its credibility and reliability. The fact that the broker is not regulated and has been issued warnings by several regulatory authorities should be a red flag for traders. The lack of live chat support and unresponsive customer support also raises questions about the broker’s customer service. Traders should carefully consider all these factors before investing their funds with Joywealth or any other unregulated broker. It is crucial to choose a regulated and reputable broker to ensure the safety of your funds.
