Score
GreenWaveX
Marshall Islands|2-5 years| https://greenwavex.com
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Marshall Islands
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskAccount Information
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Website
greenwavex.com
Website Domain Name
greenwavex.com
Server IP
104.21.28.147
Company Summary
General Information
Founded in 2022, GreenWaveX is a newly-established forex broker registered in Marshall Islands, offering its clients access to a series of trading instruments, such as currency pairs, commodities, indices, stocks and more. A total of six trading accounts are available on this brokerage platform and the maximum leverage that traders can use is up to 1:500.
Is GreenWaveX safe to trade with？
GreenWaveX has disappointed us when it comes to regulations. This broker has been confirmed to be outside of the purview of any regulatory bodies. In this way, its regulatory status on the WikiFX website has been classified as “No License” and it receives a quite low score of 1.11/10.
Forex and CFD trading involving margins contains a high level of risk, and before you decide on which forex broker to use, it is advisable that you go to the WikiFX website to check out a brokerages regulatory information.
Market Instruments
GreenWaveX claims that it offers diversified range of more than 300 trading assets. Different types of trading instruments, such as Foreign Exchange, a series of CFDs on Commodities, Indices, Cryptocurrencies, Stocks, and Precious Metals are all available through this brokerage platform.
Account Types
A total of six account are available with the GreenWaveX platform: Standard, Islamic, IB, Green, ECN and NAIRA. The Standard account is perfect for novice Forex traders or those who only trade occasionally, with an initial deposit of $50.
If you're an experienced retail trader, you might want to try out the ECN Account that
offers low spreads.
The minimum deposits for these four trading accounts are: the Islamic account from $3,000, the IB account from $10,000, the GREEN account from $50,000, and the ECN account from $100,000.
A special trading account set by this broker, the NAIRA account, requires a quite low initial deposit of ₦10,000.
Spreads & Commissions
Spreads and commissions are set in the end by trading accounts. Spreads offered by the Standard account, the Islamic account, the IB account are relatively high, with the Standard account from 1.2 pips, the Islamic account from 1.3 pips, the IB account from 2 pips, while another three trading accounts offers relatively competitive spreads, with the GREEN account from 0.7 pips, the ECN account from 0.1 pips, and the NAIRA from 0.1 pips.
Leverage
When it comes to leverage, a key red flag with GreenWaveX is that it permits traders to use leverage of up to 1:500, which is significantly higher than the levels regarded appropriate by many regulators.
Since leverage can amplify gains as well as losses, it is important for traders to choose the proper amount that they feel most at ease.
Trading Platform
GreenWaveX only grants its IB trading account holders access to the Web MT4 trading platform, whilst traders with other accounts can only use a web-based trading platform.
Deposit & Withdrawal
There are several payment processor logos shown on the homepage of GreenWaveX website, including VISA, MasterCard, Bank Wire, USDT, and more. With further instruction on its deposit and withdrawal part, we have no idea what payment options work with this brokerage house.
Customer Support
The GreenWaveX official website is available on multiple languages. However, traders can only reach out to this brokerage house about any questions or concerns they may have about their accounts or their trading through an email it gives: support@greenwaves.com.
Or you can follow this brokerage on some popular social media platforms, such as Facebook, Twitter, Instagram, Linkedin, TikTok and Youtube.
Risk Warning
There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.
The information presented in this article is intended solely for reference purposes.
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
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Jose 5054
Venezuela
When I withdraw they tell me that the account does not have automatic withdrawal enabled, so I should contact my account manager. My manager account no longer belongs to the broker and I have written to support a bunch of times without getting any response from them. I have more than 2 thousand dollars in the account. I've had this for more than a year now.
Exposure
02-20
kasan Ngemplaksimongan
Indonesia
I am Akhmad nur khasan. account number 806064828. already deposited on green wafex 2 times. and before depositing there my manager account named Widya Nirmala calls up to 5 times a day. and after the deposit is complete and I trade my account manager can't be contacted anymore. on email No reply. especially on the phone. I have tried to contact via email at support as well there is no reply as if the broker is no longer active. I first deposited 500 USD and got profits and finally my account is mc. and the second deposit is 500 USD and this account has received an SD profit of 2,300 USD. and I tried to apply for a withdrawal in the system giving feedback that my account had to be withdrawn manually and had to contact the account manager. and I have tried to contact the account manager, there was no reply or response at all. I just realized that I was cheated when after the deposit I won't be able to withdraw at this broker. This broker was intending to scam from the start. I am very sorry to know this broker. Those who read this should consider. thanks
Exposure
2022-11-22
小罗罗
United Kingdom
A forex broker registered in the Marshall Islands without any regulatory license... Honestly, I can't think of a more dangerous company than this one. Maybe registered in Saint Vincent and the Grenadines?
Neutral
2022-12-07
FX1258585322
Indonesia
I chose GreenWaveX as a broker for cooperation because they offer very good conditions and no commissions. As for me, this is one of the most reliable platforms on the market.
Positive
2023-02-27