Wave Up

Wave Up is a UK-registered company established on 14 April 2021, with its registered address at 77 Church Way, Braeval, FK8 3GL, United Kingdom. The company's official website is waveup.co.uk, but beyond these corporate registration details, very little public information is available about its operations, history, or ownership structure.

In FXCanary's assessment, the lack of verifiable information beyond the corporate registry is a significant transparency concern. Traders considering this broker should be aware that the company does not appear to have an established reputation or track record in the forex industry.

Our research indicates that Wave Up does not hold any regulatory licence from a recognised financial authority. There are no records of authorisation from the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), or any other major regulator.

This absence of regulation means that traders are not protected by any investor compensation scheme, nor do they have recourse to a financial ombudsman should disputes arise. Trading with an unregulated broker carries elevated risks, and we strongly advise traders to exercise extreme caution.

Wave Up offers two account types: a Standard account with a minimum deposit of $50 and a Pro account requiring a significantly higher minimum deposit of $20,000. Both accounts offer leverage up to 500:1, which is extremely high and far above the limits imposed by most regulated brokers in jurisdictions like the EU or UK.

Such high leverage can amplify both gains and losses, and in the context of an unregulated broker, the risk is further compounded. The $20,000 minimum for the Pro account suggests it is aimed at high-net-worth or professional traders, but without regulatory safeguards, the safety of those funds is uncertain.

The known facts do not specify which trading instruments or platforms Wave Up offers. The account types and leverage suggest a focus on forex and CFDs, but no concrete information about asset classes, trading platforms (e.g., MetaTrader 4/5), or execution methods is available from our records.

We consider this lack of transparency a further red flag. Reputable brokers typically provide detailed information about their product range and trading infrastructure. The absence of such details makes it difficult for traders to assess whether Wave Up meets their trading needs.

No information about deposit or withdrawal methods, fees, or processing times is available for Wave Up. Similarly, there is no mention of accepted currencies or payment providers.

For any broker, but especially for an unregulated one, clear and accessible information about funding and withdrawals is essential. The total lack of such details raises concerns about the ease of accessing funds held with the company.

Wave Up carries a FXCanary Scam Risk Score of 45/100, which we classify as 'Guarded'. This score primarily reflects the complete lack of regulatory oversight and the scarcity of independent information about the broker's operations.

Traders should be aware that trading with an unregulated broker offering up to 500:1 leverage involves substantial financial risk. The combination of high leverage and no regulatory protection means that losses could exceed deposits, and there may be no means of recovering funds in the event of misconduct or insolvency.