Green Wood International AG is a brokerage firm that claims to offer a wide range of trading products and services, including forex, stocks, commodities, indices, and cryptocurrencies. But are they legit or a scam?

In this blog post, we will review Green Wood International AG based on several criteria, such as their regulation, reputation, trading platform, account types, fees, customer support, and more. We will also share some tips on how to avoid falling victim to fraudulent brokers.

Regulation

One of the most important factors to consider when choosing a broker is their regulatory status. A regulated broker is subject to the rules and oversight of a reputable financial authority, such as the FCA in the UK, the ASIC in Australia, or the CySEC in Cyprus. These regulators ensure that the broker follows high standards of security, transparency, and fair practices. They also provide protection for the clients’ funds and rights in case of disputes or insolvency.

Green Wood International AG claims to be regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines. However, this is not a reliable regulator, as it does not have any legal authority to supervise or regulate forex brokers. In fact, the FSA has issued a warning stating that it does not issue any licenses for forex trading or brokerage activities.

Therefore, Green Wood International AG is an unregulated broker that operates without any oversight or accountability. This means that they can manipulate the prices, execute trades against their clients, refuse withdrawals, or even disappear with their clients’ money.

Reputation

Another factor to look at when evaluating a broker is their reputation among the trading community. A good way to do this is to check online reviews, feedback, and testimonials from other traders who have used their services.

Unfortunately, Green Wood International AG has a very poor reputation online. There are numerous complaints and negative reviews about them on various forums and websites. Some of the common issues reported by their clients are:

• They use aggressive and misleading marketing tactics to lure unsuspecting traders into depositing large amounts of money.
• They assign account managers who pressure their clients to invest more money and make unrealistic promises of high returns.
• They manipulate the trading platform and the market conditions to cause losses for their clients.
• They charge hidden fees and commissions that are not disclosed upfront.
• They make it very difficult or impossible for their clients to withdraw their money.
• They stop responding to their clients’ calls or emails once they request a withdrawal or complain about their service.

Trading Platform

A trading platform is the software that allows traders to access the market and execute trades. A good trading platform should be user-friendly, fast, reliable, secure, and offer a variety of tools and features to enhance the trading experience.

Green Wood International AG offers its own proprietary web-based trading platform that does not require any download or installation. However, this platform is very basic and limited in terms of functionality and design. It does not offer any advanced features such as charting tools, indicators, technical analysis, news feeds, or social trading. It also lacks security measures such as encryption or verification protocols.

Moreover, the platform is prone to glitches, delays, and errors that can affect the accuracy and execution of the trades. There are also reports of price manipulation and slippage that result in unfair losses for the traders.

Account Types

Green Wood International AG offers four types of accounts: Basic, Silver, Gold, and Platinum. The minimum deposit required for each account is $250, $2,500, $10,000, and $50,000 respectively. The accounts differ in terms of the leverage offered (up to 1:200), the spreads charged (from 3 pips), and the access to additional services such as account managers, signals, webinars,

and bonuses.

However, these accounts are not transparent or competitive compared to other brokers in the industry. The leverage is too high and risky for most traders, especially beginners. The spreads are too wide and expensive for most instruments. The additional services are either useless or harmful for the traders’ performance.

Fees

Green Wood International AG charges various fees and commissions that are not clearly disclosed on their website or terms and conditions. Some of these fees are:

• Deposit and withdrawal fees: The broker charges a fee of 3.5% for deposits made via credit cards or e-wallets. They also charge a fee of $50 for withdrawals made via wire transfer or $35 for withdrawals made via credit cards or e-wallets.
• Inactivity fee: The broker charges a fee of $80 per month if the account is inactive for more than 60 days.
• Maintenance fee: The broker charges a fee of $20 per month for maintaining the account.
• Swap fee: The broker charges a fee for holding positions overnight.
• Conversion fee: The broker charges a fee for converting currencies.

Customer Support

Green Wood International AG claims to offer 24/7 customer support via phone, email, and live chat. However, this is not true, as many clients have reported that they are unable to reach the broker or get any response from them. The phone numbers provided on their website are either invalid or unreachable. The email addresses are either ignored or bounced back. The live chat feature is either offline or unresponsive.

The customer support team is also unprofessional, rude, and unhelpful. They do not provide any assistance or solutions to the clients’ problems or queries. They only try to persuade them to deposit more money or prevent them from withdrawing their money.

Conclusion

Based on our review, we can conclude that Green Wood International AG is a scam broker that should be avoided at all costs. They are not regulated, reputable, or reliable. They offer a poor and unsafe trading platform, account types, fees, and customer support. They also engage in fraudulent and unethical practices that harm their clients’ interests and funds.

If you are looking for a legitimate and trustworthy broker, we recommend that you check out our list of the best forex brokers in the market. These brokers are regulated by reputable authorities, offer competitive trading conditions and features, and have positive reviews and feedback from their clients.

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