Loowire

Loowire Global, trading under the domain loowirefx.com, is a forex and CFD broker registered in the United Kingdom, with a stated founding date of 21 July 2021. The company presents itself as a provider of online trading services, offering access to leveraged products in the global financial markets.

Our records indicate that Loowire Global holds two regulatory licences: one from the Cyprus Securities and Exchange Commission (CYSEC) and one from the Australian Securities and Investments Commission (ASIC). The CYSEC licence is categorised as a Forex Execution License (STP) and the ASIC licence as an Inst Market Making (MM) licence. The licence numbers on file are 312/16 for CYSEC and 420268 for ASIC, though the status of these licences is not published in our records.

The regulatory framework surrounding Loowire Global is a central point of consideration for any prospective client. While the company lists two major regulators, the absence of a clear licence status in our records is a notable gap. Typically, a regulated broker would have an active status readily verifiable on the regulator's public register.

In FXCanary's assessment, the presence of a licence number does not automatically confirm active authorisation. We cross-checked the details against the public register, but the information available to us does not confirm whether these licences are currently valid or have been suspended. This uncertainty is a significant factor for traders to weigh.

Based on the licences on file, Loowire Global appears to offer retail leveraged forex and CFD trading. The STP (Straight Through Processing) execution model under the CYSEC licence suggests a no-dealing-desk approach, where client orders are passed directly to liquidity providers. The MM (Market Making) licence under ASIC indicates the broker may also act as a counterparty to client trades.

Specific details on the range of instruments, trading platforms, account types, and funding methods are not disclosed in our records. The official website, loowirefx.com, is not verifiable in our current data, which limits the information we can provide on the broker's actual offerings.

Our records flag Loowire Global with a high FXCanary Scam Risk Score of 85 out of 100, categorised as 'Severe'. This score is driven by several risk flags, including being listed as a 'Fake Broker' in industry watchdog records, identified as a clone or impersonator firm, and having no verifiable website or social-media presence.

These flags are serious. A 'Fake Broker' designation typically means that the entity is not a legitimate broker but rather a front for fraudulent activities. The identification as a clone or impersonator firm suggests that Loowire Global may be misrepresenting itself as a regulated entity, potentially using the licence numbers of a different, legitimate firm. The lack of a verifiable online presence further compounds these concerns.

Given the severe risk flags and the lack of verifiable information, Loowire Global is not suitable for any trader seeking a safe and transparent trading environment. The absence of independent reviews, the unconfirmed licence status, and the 'Fake Broker' designation all point to a high probability of financial loss.

We advise extreme caution. Traders should avoid depositing funds with Loowire Global until the regulatory status is clarified and the company can provide verifiable proof of its operations. In the current state, the broker does not meet the basic standards of trustworthiness expected in the industry.

In summary, Loowire Global presents a high-risk profile with multiple red flags. While it claims to be a regulated forex broker, the lack of verifiable licence status, the 'Fake Broker' flag, and the absence of a credible online presence make it an unsafe choice for any investor.

We recommend that traders steer clear of this broker and consider only well-established, fully regulated alternatives. The information available to us is insufficient to recommend Loowire Global in any capacity.