If you’re here, it means you were searching for Wiolin reviews and want to know whether this company is fraudulent and illegal. If you don’t have time to read the full exposé, here’s the bottom line: the broker is a scam, and you’d be better off saving your money by choosing a more reliable and promising brokerage firm.
Key Features
- Company Name: Finplus Capital Ltd, Xeodis
- Website: https://wiolin.com/
- Available Contacts: [email protected], +18007386280
- Foundation: 2023
- Services: CFD Trading
- License: MISA
- Initial Deposit: $1,000
From Sign-Up to Payout
Let’s start by exploring Wiolin through their official website, wiolin.com. There’s nothing particularly special about it — just a typical brokerage site with basic information about the company: trading conditions, platform, additional tools, and legal documents. The site is available only in English, which already limits the company’s global reach.
Some terms and benefits are mentioned, but crucial information, such as details about their business model, operating history, or regulation, is missing. There are logos for social media accounts and a standard risk warning about margin trading, which looks typical.
The next step would be to examine the user interface and platform, but that’s impossible. Wiolin doesn’t allow you to register an account on your own, instead directing you to contact support for assistance.
Closed registration is a common sign of fraudulent brokers. Why illegal companies use this tactic remains a mystery known only to them and the traders who fall for their schemes.
It’s known that clients must undergo identity verification to gain full access to the platform. The process is not much different from other companies, but it’s better to hold off on submitting such sensitive personal information until you verify the organization’s reliability and legality.
According to their official website, Wiolin requires a minimum deposit of $1,000 for trading. You can fund your account via credit/debit cards, bank transfers, or cryptocurrency. These are fairly standard terms, but the minimum deposit is notably high. That’s not good.
Our Trading Experience With Wiolin
It’s impossible to test and try out the platform either. This is complete nonsense. How is a trader supposed to choose a firm if they can’t see the terminal or try it out for themselves? The platform plays a crucial role, especially for experienced users.
In short, you’re expected to take Wiolin at its word when it describes its platform. The company portrays the terminal as if it’s the top software in the world: diverse market orders, user-friendly interface, various charts and timeframes, extensive range of indicators, and ultra-fast execution. They also mention mobile and desktop versions.
What platform they actually use remains unknown. However, it’s safe to say that it’s likely worse than most well-known and popular terminals. For example, it’s probably inferior to MetaTrader. It seems the company didn’t have the funds to acquire a license for more convenient and user-friendly software.
The Reality Check
Now, here’s the most important and interesting part of the Wiolin review. Let’s examine the firm’s legitimate status and determine whether it’s trustworthy or if you’d be better off not risking your money.
The broker claims to be operated by Finplus Capital Ltd, which is registered in Mwali, Comoros Islands. The license number in MISA is T2023298, and a search in the registry confirmed it. There’s no falsehood there, ok. Even the website wiolin.com is listed. So, the company isn’t lying about being operated by Finplus Capital Ltd.
However, just because a broker has a license from MISA doesn’t mean it’s safe and trustworthy. This regulator is quite mediocre and risky. It’s new, with no reputation or authority. Here are some significant drawbacks:
- Weak regulation. Companies registered in this jurisdiction can operate with minimal requirements for adhering to international safety and transparency standards.
- Lack of trust from other financial commissions. Mwali lacks strict mechanisms to control the activities of companies registered there. Other national regulators do not recognize licenses from MISA.
- Difficulty in obtaining legal protection. In the event of disputes or fraudulent actions, traders and investors will find it extremely difficult to seek legal protection.
This list could go on for much longer. Our advice — find a brokerage company with licenses from well-established and trusted regulators, such as the FCA, CySEC, ASIC, SEC, or FINMA.
How Long Has Wiolin Been in the Game?
The registration date for Finplus Capital Ltd is June 13, 2023, meaning the broker has been operating for just over a year. This is not a long or significant period. In such a short time, it’s impossible to build a reputation as a safe intermediary. Additionally, the website’s domain was purchased in 2023, even though it was created in 2020, which confirms the brief operational period.
Extra Fraud Indicators
Doubts about the company’s reliability stem not only from the closed registration, lack of serious regulation, and short operating history. Have you noticed the Wiolin reviews online? The situation seems strange: it appears as though this is the best and most reliable platform, and all other brokers don’t even compare. The sheer number of positive reviews is astounding. And the truth is, these comments are fake. Scammers publish pseudo-advertisements to attract as many new clients as possible. It’s simple. Believe it or not, the fact remains — they are fabricated.
Another important aspect to consider is the order execution model. A company can either be a true intermediary, connecting participants in the financial market, or it can operate under a dealing desk model, where it effectively works against traders.
In our case, it’s a dealing desk. This means Wiolin profits only when its clients lose money. The firm doesn’t have access to liquidity providers or ECN. So, if you’re seriously considering trading here, ask yourself: “How will you make a profit if the company earns from your losses?”
Is Wiolin the Right Fit?
Despite the official registration in Mwali, this broker remains highly risky. The lack of serious regulation, less than a year on the market, and the posting of fake reviews — there are too many red flags at once. We strongly recommend not risking your money and choosing a proven, legitimate company.
To the scammers at WIOLIN — when will you return my money? I’ve been waiting two months for you to withdraw my $6.5K, but you still haven’t. What’s going on? What’s the deal? You’re blatantly posting fake positive reviews, telling people to come trade with you, but you’re not paying out to real clients. I can prove all of this — you’re frauds, and you owe people their money! Karma will catch up with you. Do you think you’ll get away with this? Not only are you openly manipulating charts on your terrible, shameful platform, but you’re also hiding out and refusing to give people their money. RETURN THE MONEY!
I don’t understand how anyone could choose a company like this as their broker. The wiolin.com site is awful. Many conditions are not disclosed at all. The scammers remain silent with traders. As for regulation — there’s nothing to say because it doesn’t exist. The company hasn’t been operating for long, and compared to well-known and popular intermediaries, it looks like outright garbage. I don’t recommend this fake broker. You will 100% lose your money. Real reviews confirm this — some people have lost $10,000–$20,000 here.