| Min. Deposit | 10 |
| Max Leverage | 1:200* |
| Min. Spreads | From 0.0pips |
| Mobile Trading | Yes |
| Web Trading | Yes |
| News Trading | Yes |
| Headging Scalping: | Yes |
| Trade Platform | MT5 for Desktop, MT5 Web Terminal, MT5 Android, MT5 iPhone Trader, MT5 iPad Trader, Platform for Android, Platform for iOS |
WongaaFX markets itself as a forex broker, but judge it by proof. Confirm a current license on the regulator’s website, not a PDF. Match the legal entity, address, and domain. Test a demo account, track spreads, swaps, slippage, and margin calls. Read the fee schedule for deposits, withdrawals, and inactivity, then try a small payout. Search complaints on Trustpilot, Forex Peace Army, and Reddit, and look for patterns. Ask support about the custodian bank, fund segregation, and negative balance terms. If you can’t verify these basics, treat WongaaFX as high risk and move on.
| Swap Free Acc | Yes |
| Acc Funding Methods | Bank transfer (local and international), credit/debit cards, Alipay,Wechat Pay, China Union Pay |
| Acc Withdrawal Methods | Bank transfer (local and international), credit/debit cards, Alipay,Wechat Pay, China Union Pay |
| Vip Accounts | Yes |
| Mini Accounts | Yes |
| Segregated Acc | Yes |
| Free Demo Acc | Yes |
| Managed Accounts | Yes |
| Islamic Accounts | Yes |
Ratings for WongaaFX should focus on proof, not hype. Start with regulation, and verify the license on the regulator’s site. Don’t rely on minimum spread ads, compare average spreads during London and New York hours. Place small test orders in busy periods to check fills and slippage. Review platform uptime, order types, and charting tools. Check funding methods, limits, fees, and normal payout times. Read recent complaints, and watch for patterns on withdrawals or support. If the firm is new or offshore, weigh audits, ownership, client fund segregation, and any negative balance policy more heavily.
| Broker Name: | WongaaFX |
| Country: | Comoros Union |
| Base Currencies: | EUR, USD, GBP, SEK, DKK, ZAR, NOK, PLN, AUD, AED, CZK and More |
| Languages: | English, Arabic , Indonesian, Malaysian, Thai, Vietnamese and More |
| News Trading: | Yes |
WongaaFX is a recent entry to the forex and CFD market. It operates under Wongaa Financing Brokers Limited, registered in Hamchako, Mutsamudu, on the Autonomous Island of Anjouan, Union of Comoros, registration number 15906. This registration provides a corporate shell, not recognized supervision. The site promotes MetaTrader 5 and a wide range of instruments, which may attract attention. The rest of the offer feels thin, more like a brochure trying to look like a broker.
Top regulators such as the FCA (UK), ASIC (Australia), and CySEC (Cyprus) require strict safeguards:
WongaaFX is registered in Comoros, an offshore location with very light oversight. None of the protections above are confirmed under this setup. There is no trusted dispute resolution, no verified audits, and no compensation fund.
What this means for clients:
If you want regulated alternatives, see:
WongaaFX offers MetaTrader 5 only. MT5 is fast and flexible, with tools for charting and automation. It is available on Windows and mobile apps for iOS and Android.
Core MT5 features available here:
MT5 is trusted software, yet it does not validate the broker. Always judge the firm on execution quality and withdrawals, not on the platform alone.
WongaaFX lists four account tiers: Standard, Pro, RAW, and Zero Spread. Minimum deposits vary by tier.
This structure looks neat, yet there is no independent verification of the conditions. The low entry point can be appealing, but it does not fix the core risk of an offshore setup.
The broker lists cards, Skrill, Neteller, bank transfer, and crypto options such as Bitcoin and USDT. The mix sounds convenient, yet key details are missing:
Crypto funding adds speed, but tracking and reversals can be hard, especially with an unregulated firm. Confirm all costs and timelines with support before sending money.
WongaaFX advertises a broad product list:
The range looks complete. What is missing is proof of fair pricing, reliable liquidity, and clean execution. Without verified providers or reports, terms remain uncertain.
The site promotes tight spreads, for example:
Account-based commissions are also listed:
The pricing looks sharp on paper. Real results depend on live liquidity, slippage, and execution speed. With no independent oversight, there is no guarantee these figures match real trading.
WongaaFX advertises up to 1:500. This ratio lets a small balance control a large position. It can boost gains, yet it also magnifies losses. A $100 account can face market swings on a $50,000 position, which can wipe the balance in seconds.
The broker does not provide negative balance protection. Regulated firms in the UK and EU must include it. Without this safety net, a sharp move can push the account below zero, creating a debt.
If you trade here, use modest settings, set stop losses, and risk a small share of your funds per trade. Test on a demo first, then a small live account.
The site does not present a clear withdrawal policy. Minimum amounts, processing times, and fees are not disclosed. This lack of detail is a serious concern. Regulated firms publish transparent rules and timelines.
Given the offshore setup, confirm the full withdrawal process with support, including methods, limits, fees, and expected timing. Avoid large deposits until you verify the process.
WongaaFX looks polished on the surface, with MT5 access, several account tiers, and a long list of instruments. The core issue is safety. The company is registered offshore, with no trusted oversight or client protections. Without transparent withdrawal rules or verified execution, the risks outweigh the appeal. Traders who value fund safety and clear rules should consider a well regulated broker instead.
