TradesWiser Review: TradesWiser.com Scam or Legit Broker?
Upon examining TradesWiser’s website, it appears they operate without regulatory oversight. This is a big cause for concern, by all means. This red flag alone should warn potential investors to avoid this brokerage. Besides, TradesWiser collaborates with websites that offer “automated trading software”. Moreover, this website is notorious for fraudulent schemes.
If you have faced a TradesWiser broker, you will quickly understand how unscrupulous this company is. We suggest you read our TradesWiser review for more information about this investment scam.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | TradesWiser.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | N/A |
| Headquarters Country: | 1 Ropemaker Street EC2Y 9HT The City of London |
| Foundation year: | 2022 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | Yes (Bitcoin, ETH, LTC) |
| Types of Assets: | Cryptocurrencies, Forex, Indices, Shares |
| Maximum Leverage: | 1:100 |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is TradesWiser a Regulated and Licensed Broker?
Without proper regulation, TradesWiser poses a significant risk to traders. This goes without saying! Not only does it leave customers unprotected, but it also increases fraud likelihood.
Additionally, the broker’s absence from respected regulatory databases such as ASIC, FCA, and BaFin further raises concerns about its legitimacy. As responsible traders, we must prioritize working with brokers that comply with Tier 1 regulations to protect our investments and the environment. Keep that in mind.
It’s essential to be careful while engaging with questionable entities such as TradesWiser, Sato4x, and similar companies.
TradesWiser: A Look at Trader’s Perspectives
At the time of writing this review, there were 53 reviews on Trustpilot for TradesWiser. Also, there is an average score of 3.6 stars. That is considered an “average” rating. Yet, negative 1-star reviews account for 26% of the total, while positive 5-star ratings account for 47%. Try to consider this feedback before using TradesWiser’s services.
There are always mixed reviews on various websites, and TradesViser.com is no exception. It is crucial to approach their services with caution.
TradesWiser Platforms – A Software Comparison
This broker’s user portal includes a WebTrader. Yet, as you know, WebTrader only offers a limited range of functionalities. This broker scam claims its platform suits beginners and experienced traders. But, we doubt this assertion. We know that the platform only provides basic features. And that may not be enough to ensure successful trading.
Due to these limitations, traders should use more advanced trading venues. The most popular options today are MetaTrader 4, MetaTrader 5, CTrader, and Sirix. These programs offer a wide range of sophisticated tools. Those tools are:
- Expert advisors
- Stop-loss orders
- Fast execution
- Unlimited pending orders
- Copy trading
Besides, stop-loss orders can limit potential losses in unfavorable market conditions. Fast execution can also help traders react to market fluctuations. And, in that way take advantage of favorable opportunities as they arise.
What Financial Instruments Does The Platform Include?
The trading platform here includes access to the following assets. Let’s take a look!
- Forex
- Indices
- Energies
- Shares
- Cryptocurrencies
Investing in unlicensed companies can be tempting due to the wide variety of investment options available. Yet, it’s crucial to exercise caution. Companies without licenses may offer higher returns but also carry significant risks.
TradesWiser – Countries Of Service
According to reports, TradeWiser has been engaging in fraudulent practices. That practice has resulted in financial losses for traders from several countries:
- Australia
- Cyprus
- Sweden
- India
- Germany
Unfortunately, many traders from these countries have fallen victim to company scams.
Given the company’s dubious activities, it’s crucial to exercise caution when using its services. You must conduct thorough research to ensure your safety and protect your investment. Always seek out reputable brokers with a track record of transparency, compliance, and reliability.
Account Options Offered by TradesWiser
This broker includes four account options, as listed below:
● Basic – demands a minimum deposit of $250.
● Gold – requires a minimum deposit of $25,000 and a 25% Swap discount.
● Platinum – requires a minimum deposit of $100,000 and a 50% Swap discount.
● VIP – has a minimum deposit of $500,000 and includes a 75% Swap discount.
Please note that TradesWiser and FxEx have a history of misleading people and operating as unregistered firms. It’s vital to keep this in mind before engaging with them.
Terms of Service for TradesWiser
The following are the basic terms and conditions for using TradesWiser’s services:
- TradesWiser’s services refer to its website and applications.
- Users must be over 18 and competent to use their services.
- TradesWiser’s services may not be available in certain countries or jurisdictions.
- Users must not use the website to disrupt or damage software or hardware, upload offensive material, or infringe on anyone’s rights.
- Users must take reasonable measures to maintain device security and functionality.
- The broker may modify or remove its services without notice.
Leverage, Spreads, and Fees
Take a look at the fees that this broker includes:
- 1% clearance fee for executed trades
- No fees for deposits or withdrawals by bank card or wire transfer
- The company charges fees for wire withdrawals
- Quarterly $75 fee for all accounts
- Extra fees may be introduced or changed at any time.
Based on extensive evidence, this broker enables clients to deposit and withdraw funds via credit cards and wire transfers. Yet, there is no clear indication of processing times for these transactions.
Dealing with a TradesWiser Problem: What Steps Should You Take?
We know how difficult it is to be a victim of a broker scam. If you’ve been scammed, please share your experience with us. It’s crucial to inform others about your situation to avoid further scams.
You can help others by sharing your story and preventing them from losing their money. Don’t keep it to yourself. Inform us, and we’ll spread the word and safeguard others from similar frauds. Here you can book a free consultation and find out what to do for a start.
Also, in case you have fallen prey to a broker scam, initiate a chargeback process without delay. Contact your card issuer and furnish them with concrete evidence, such as transaction records or emails, to support your claim. The card issuer will investigate the case and may seek extra information from both you and the broker. If your claim is verified, the card issuer will reimburse the amount and attempt to retrieve the funds from the broker.
What is TradesWiser?
TradesWiser is a forex broker that is involved in bogus practices.
Is TradesWiser a Regulated Broker?
No, TradesWiser is just another unregulated forex broker that you should avoid.
Is TradesWiser available in the United States or the UK?
No, US traders are not accepted. For the UK, we found no confirmation.
Does TradesWiser offer Demo Accounts?
TradesWiser doesn’t offer free demo accounts. Beware of that.