The forex trading industry is unfortunately filled with dishonest brokers who make enticing promises but ultimately deceive investors and take their money. WiseMarket is one such unscrupulous broker, and we strongly urge you to avoid entrusting them with your hard-earned funds. Read this complete WiseMarket review to know more about WiseMarket scam activities.
Despite their claims of being registered and regulated in the offshore jurisdiction of Saint Vincent and the Grenadines, our thorough investigation has revealed that this assertion is false. Moreover, the lack of transparency surrounding their trading conditions and the absence of essential contact information only serve to reinforce the necessity of staying away from this unreliable and anonymous broker.
Website – https://mywisemarket.com/
Website Availability – Yes
Address –Suite 305, Griffith Corporate Centre, Beachmont Kingstown, Saint Vincent And Grenadines
Warning – Not recommended by review website like Scam Bitcoin
Regulation – Unregulated, Offshore
Domain Age –
|Date Registered||April 06, 2022|
|Domain Age||1 year, 3 months, 13 days, 18 hours, 22 minutes, 31 seconds|
Is WiseMarket legit or a scam broker?
When it comes to selecting a trustworthy forex broker, conducting thorough research is imperative. One vital aspect to scrutinize is the broker’s contact information, and regrettably, WiseMarket lacks in this department. They offer only a single email address, without any phone number or social media links. Moreover, the physical address based in St. Vincent and Grenadines (SVG) may raise concerns, as offshore jurisdictions often have limited regulatory oversight.
Opting for a broker with a valid license is paramount. Unregulated brokers may present appealing offers, but they often engage in practices that can jeopardize your investments. Furthermore, we conducted a diligent inquiry into WiseMarket’s claims of offshore registration and found no evidence of their presence on the official Financial Services Authority of SVG records. In other words, there is no confirmation of WiseMarket’s legitimacy from the regulatory authority.
WiseMarket Review: Trading Platform
WiseMarket offers access to a renowned trading platform, MetaTrader 4, which is a classic in the trading world. While having access to popular platforms like MetaTrader 4 and the availability of demo and live accounts are significant considerations when selecting a forex broker, they are not the only factors to bear in mind. It is equally crucial to ensure that the broker is regulated and has a reputable track record, even if it entails compromising on certain platform features. Prioritizing regulation and reputation is essential for a secure and trustworthy trading experience.
WiseMarket Review: Trading Assets
WiseMarket provides access to a restricted selection of trading instruments, which includes approximately 40 forex pairs, stocks, ETFs, and cryptocurrencies’ CFDs.
On the other hand, reputable brokers would offer the opportunity to trade a vast array of instruments. This expanded selection would not only encompass the aforementioned options but also commodities (such as metals and energies), indices, futures, bonds, and various types of options, among others. Legitimate brokers typically provide a much broader and more diverse range of tradable assets to cater to investors’ diverse preferences and strategies.
WiseMarket Review: Deposit and Withdrawal Methods
WiseMarket imposes a strict verification process before allowing any deposits, leaving us unable to view the accepted deposit methods until verification is completed. According to their Terms and Conditions, the broker does accept payments through credit/debit cards, wire transfers, and unspecified e-wallets. However, this limited range of payment options and exclusive acceptance of credit/debit cards raises significant concerns.
In contrast, reputable brokers typically offer a diverse selection of secure and convenient payment methods to accommodate their clients’ preferences. These options often include bank wire transfers, widely recognized credit/debit cards like Visa and MasterCard, and popular e-wallet platforms such as Skrill and Neteller, ensuring clients have a wide range of safe and accessible payment methods at their disposal.
WiseMarket Review: Conclusion
To sum up, WISEMARKET is an offshore forex broker based in Saint Vincent and the Grenadines and has been operational for two years. Despite providing trading services in forex, cryptocurrencies, stocks, and ETFs, there are several critical drawbacks to be mindful of. The most prominent concern is the lack of regulation, which raises serious doubts about the safety and security of funds with this broker. Furthermore, the absence of transparency regarding essential trading conditions, such as leverage, minimum deposit requirements, and spreads, is a significant drawback. The overall experience is further hindered by the limited availability of educational resources and customer support options, which may leave traders feeling unsupported and unsatisfied.
If you have fallen victim to a scam, whether it is WiseMarket or any other fraudulent broker, you have the option to take action and file a complaint against these scam brokers. At Scam Bitcoin, we offer assistance to victims seeking fund recovery. You can fill out a complaint form on our website, and our experts will provide you with a free consultation regarding the fund recovery process. Don’t hesitate to reach out for help and support in your pursuit of recovering your funds.
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