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Updated on March 25, 2024

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Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding Five Winds due to the issues we've identified.


Is Five Winds Scam or Legit Broker? ▲

Upon conducting our detailed investigation, it has come to our attention that Five Winds lacks the crucial regulatory approval from any globally recognized financial authority. This absence of licensure raises significant concerns about the broker's legitimacy and operational integrity. Without being subject to the stringent checks required for compliance prior to commencing business, continuous monitoring for operational safety, or any form of regulatory oversight, Five Winds operates with a concerning level of freedom that could potentially harm investors. The absence of a regulatory license is a stark indicator that the entity might be engaging in fraudulent activities, as it operates without the necessary legal and operational checks and balances that protect traders and their investments.


What is Five Winds? ▲

Five Winds Asset Management professes to be an emerging figure in the European and international investment and consulting arenas, as per claims made on its official website. Nevertheless, the firm's exact location remains undisclosed, and there is a lack of clarity regarding the specific nature of investments and trading opportunities it offers. Despite this, the company promises exceptionally high returns to clients from various jurisdictions, with a notable focus on attracting investors from the Russian region.


However, the legitimacy of Five Winds has been called into question by regulatory bodies. Notably, the German regulator BaFIN and the Belgian FSMA have recognized the company for its dubious operational practices. These authorities have placed Five Winds Asset Management on their warning lists due to the firm's engagement in offering financial services without the requisite registration. Operating without a license is not inherently illegal, but within the European Union, financial investment firms are mandated to obtain certification. This stipulation is in place because entities that are not regulated are frequently associated with fraudulent schemes. Furthermore, these regulators have pointed out that the company's website and representatives fail to provide a transparent investment portfolio, instead making baseless claims about investment returns tied to performance metrics.


Conclusion ▲

After careful consideration of the evidence and following our comprehensive review methodology, our recommendation is to steer clear of Five Winds. The dubious nature of their business offerings, combined with the absence of regulatory oversight, presents too great a risk for potential investors. The market is rich with alternatives, boasting regulated investment and trading brokers that offer a plethora of legitimate opportunities for engagement and trading. It is in the best interest of traders to opt for brokers that are well-regulated, such as those in the UK or Australia.


Our findings also indicate that Five Winds has ceased operations, with their website no longer accessible. This development further underscores the instability and unreliability associated with offshore-based brokers, which often lack serious regulation. Given these factors, our advice is to avoid any engagement with Five Winds and to prioritize trading with brokers that demonstrate strict adherence to regulatory standards, ensuring the safety and security of your investments.


When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.

Five Winds

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare Five Winds with its peers

Five Winds

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare Five Winds with its peers

Five Winds
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In a Snapshot

Name: Five Winds

Website: www.fivewindsam.com

Reason to avoid: No License. Numerous warnings.

Date: October 5, 2018

⚠️Caution: Five Winds operates as an unregulated broker, making it UNSAFE for trading activities.⚠️

Five Winds Review 2024

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