Five Winds Review (2023)

Is Five Winds a scam or a legit broker?

Five Winds is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

Five Winds Asset Management company is a new player in the European and global markets in the field of investment and consulting, as the company claims on its website. However, it is not clear where the company is located and which kind of investment and trading they do offer, but promise a very high return while targeting clients from various jurisdictions, as well as concentrate on Russian region.

Nevertheless, the company was detected for its fraud operating by German regulator BaFIN and Belgium FSMA. The authorities have added the Five Winds Asset Management company into warning list just a month ago since the broker was detected in offering its financial services without proper registration to do so. It is not a harm to operate with no license, however, financial investment companies within the EU are obliged to be certified, as most often non-regulated company indicated to be a scam. Moreover, the regulator stated that the company website as well as their representative does not provide a clear investment portfolio, while claim investment returns based on a performance.

“The Financial Services and Markets Authority (FSMA) warns the public against the irregular activities of Five Winds Asset Management”

FSMA, Belgium

“The BaFin has ordered by decision of 21 August 2018 against and Five Winds Asset Management, Cape Verde, the immediate cessation of illicit driven investment management.”

BaFIN, Germany

Conclusion

Overall, it all seems that the company targets clients for their own benefit while promising highest opportunities. Therefore we advise staying far from the company and any contact with them since the investment nature looks like fishy business. There are various regulated investment and trading brokers that offer vast opportunities to engage and trade, so it is better to choose among them.