Reported as a scam / unregulated
Why WBFX is on the register
WBFX claims to be operated by FENIX GROUP LLC, a company registered in St. Vincent and the Grenadines. Nevertheless, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. Besides, WBFX states that it is controlled by the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Supervisory Authority (FSA). In fact, however, the regulator of UK is the Financial Conduct Authority (FCA) rather than the so-called FSA. And of course we didn’t find any regulation of WBFX from CySEC and FCA. So WBFX is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.