Financial Commission Issues Warning Against WasoTrade

The Financial Commission, an external dispute resolution (EDR) body dedicated specifically to FX, has added online broker WasoTrade to its Warning List.

According to the announcement, the Financial Commission has been notified by concerned traders regarding the company WasoTrade and its associated website (https://wasotrade.org/). Upon reviewing the submitted information from potential customers of this broker, it has determined that the indicated company and associated website were suspicious of being used to defraud investors.

As such, the Commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media and in private messages on popular messaging apps.

Based on the information offered on the website, WasoTrade offers access to more than 40 CFDs on currency pairs, in addition to on indices,energies, ETFs, stocks and cryptocurrencies. It was founded in early 2018 as an offline investment company then came online in late 2019.