TickerWiz Review: Deceptive Practices by TickerWiz Broker

TickerWiz is a relatively new market player, only a few months old. However, it already has a lousy reputation, meaning it’s worth checking.

Before we start, we’d like to remind you about the dangers of trading with unregulated brokers. Such firms can disappear with your money, and you will have nowhere to complain. With this in mind, let’s dive into our TickerWiz review.

Is TickerWiz an Unregulated Trading Brokerage?

Yes, TickerWiz is unregulated. How do we know? Simple. The company added a UK address without the owner’s name or an FCA license number. 

The local authority body must duly regulate any investment brokerage operating from the country. Additionally, such firms must fulfill strict licensing criteria. Some of the requirements include maintaining a minimum capital of 730,000 GBP and forming a compensation fund with up to 85,000 GBP per account. On top, the UK follows ESMA rules and limits leverage to 1:30 for retail traders, whereas TickerWiz approves up to 1:1000.

Now that we cleared the basics, we can move on to other deceptions sold by this unlicensed financial swindler.

TickerWiz Operations – Countries Of Service

Usually, brokers like TickerWiz advertise their business on social media. They’re gaining customers through fraudulent ads that try to convince you that you’ll make thousands of dollars overnight.

We did thorough research on their customers and concluded that most victims come from the following countries:

• Canada,
• Sweden,
• France.

While there are no official regulatory warnings as of yet, we’re sure they’re about to come. And your story can be the one to add weight to this case, so don’t hesitate to share it.

Trading Platform Offer

TickerWiz is pretty vague about its trading platform. They’ve included a couple of pictures of something called “CFD Platform,” claiming you’ll be able to monitor your trading activity, fine-tune your trading strategies, and customize the software with widgets.

Since the software is inaccessible prior to making a deposit, we won’t comment much. We will, however, recommend safer options such as MT4, MT5, and cTrader. These are all renowned platforms with a large number of trading tools.

Additionally, TickerWiz doesn’t mention mobile apps, while we’re sure MetaTrader has one for Android, iOS, and Huawei.

What Financial Instruments Does the Platform Include?

According to the website, you can trade in the following markets:

• Currency pairs – EUR/USD, USD/JPY, GBP/CAD
• Commodities – gold, silver, corn
• Indices – FTSE100, S&P500, CAC40
• Shares – BOA, BMW, Volkswagen
• Cryptocurrencies – BTC, USDT, ADA
• NFTs – BAYC, Crypto Punks, Axie Infinity

However, NFTs are just the latest scam running amongst unregulated brokers. Most of them claim to offer this hot market when, in reality, they don’t. We cannot verify what TickerWiz provides without platform access, so we’d advise you to stay away.

Leverage, Spreads, and Fees

As per the fees, the company charges $20 a month for all accounts not verified within 30 days and a $50 monthly dormant fee after 60 days of inactivity. The leverage goes up to 1:1000, as we already mentioned. It means you can earn a thousand times more but also lose quicker.

As per the spread, the website doesn’t disclose it. Since we’re unable to access the platform, we cannot find this information for you.

Trading Account Options 

While we’re sure nobody cares at this point, let’s review the six account types on offer.

1. Main – $250
2. Bronze – $2,500
3. Silver – $10,000
4. Gold – $25,000
5. Platinum – $50,000
6. VIP – $100,000+

While the broker website says the Main account starts from $0, don’t be deceived. Once you read their FAQ section, you will see that they are asking for a minimum of $250 for you to start trading.

Can I Trade on a Demo Account?

Surely, TickerWiz says you can use a risk-free Demo account. However, once you register, you’re redirected to make a deposit. Therefore, using a trial account is not an option.

TickerWiz Withdrawal Issues

According to reviews, customers are experiencing withdrawal issues, which doesn’t surprise us. After all, brokers like this or SafeCaps, for instance, have only one goal – to extort your money and vanish. 

The broker doesn’t explicitly list available deposit options except for the wire transfer. And if you want to withdraw your money through a bank wire, the minimum amount is $300. If you have any less, the company is forcing you to deposit so that they can trap even more of your cash.

In addition, we’ve learned that customers are forced to pay alleged taxes and fees before their request is approved. You can guess that even if you pay these illegal costs, you won’t get a penny back.

I Was a Victim of TickerWiz Scam; What Can I Do?

If you find yourself scammed by TickerWiz or a similar fraudster, don’t hesitate to report it. Our chargeback experts and CipherTrace analysts will be glad to look into your case and find a way to recover what’s rightfully yours.

Since chargeback is time-limited, while crypto can quickly change hundreds of wallets, we urge you to contact us immediately. Book your free consultation today, and let us do our magic!