Wealth Arbitrage Review – Stealing Wealth Is Their Primary Aim
As a company with consistent focus on innovation, best-in-class user experience, and breadth of the offering, Wealth Arbitrage doesn’t quite manage to deliver the promised services. Being anonymous and completely unregulated doesn’t stop this shady trading platform from making bold statements about aiming to become a number one brokerage worldwide.
We just wonder how they plan on achieving that when they have a defunct platform, anonymous leadership team and no trading license! Read our take on this monkey business in the following Wealth Arbitrage review.
|Regulated by:||Unregulated Forex Broker|
|Is This Company Safe?||Illicit brokerage websites are never safe!|
|Have Warnings from:||N/A|
|Trading Platforms:||Web trader, desktop and mobile proprietary app (alleged)|
|Minimum Deposit:||5,000 EUR|
|Deposit Bonus:||Not available|
|Trading Assets:||Forex, Crypto, Indices, Metals, Shares, Futures, Energies|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||Stay away from this scam company and contact our legal team for help withdrawing!|
Wealth Arbitrage is an Illegal Entity
Wondering what kind of company owns this brand, we looked everywhere on the site for some pieces of legal information. No such data exists on the Wealth Arbitrage website.
This full-blown scam doesn’t reveal a single clue as to what the parent company is and where its headquarters are. Not to mention a total lack of license and regulation that every single broker needs in order to be taken seriously.
In our search for their license, we did a scan of several databases, like FCA, ASIC, CySEC, NFA and BaFin, but no results came up. Wealth Arbitrage is a newly registered scam that doesn’t truly offer funds safety, segregation of capital, risk-reducing measures or compensation funds. No investments are safe here!
How Wealth Arbitrage Deceives Investors
Several months, how long this petty construct exists, were enough for this broker to become omnipresent online. Their scam agents from their hidden boiler rooms tirelessly pester people they find on social networks to invest into their sham.
Naturally, convincing isn’t all that hard for them when they have mastered persuasion. These miscreants are able to see right through your defenses and weaknesses, especially if they engage in emotional manipulation aside from their mind games.
One rational look at their unrealistically attractive offer is enough to let you know that what they’re selling is completely fake. Rookie traders aren’t always informed or experienced enough to detect the scam intentions though, and investors from these countries have already fallen victim to fraud:
Victims Speak Up
It’s of crucial importance not to remain quiet about being dragged into a fraudulent scheme such as Wealth Arbitrage, FirewoodFX and similar ones. Not only do you keep other traders from falling into the trap, but you can also prevent the swindlers from building reputation based on false reviews.
These are evident on the Wealth Arbitrage Trustpilot page. Negative ones posted by the actual victims are starting to pile up though, and it’s not looking good for this faux broker:
“Don’t trust this company. I dealt with Lucas Feinberg, through bunq I invested first 250 euro but in a few weeks time up to 10.000. Virtually nice profits were made every day but when I wanted to withdraw money I couldn’t get money back. First they asked to invest more through ‘blockchain’ to clear my accounts . I was a fool and believed it. They work smart and guide me through by anydesk so all money is gone . This are criminals”
“Wealth-Arbitrage is a big SCAM. I invested $250 the minimum in May this year. Within a week or 2 I was being pushed to invest a further $3000. Eventually I asked for the account to be closed and my $250. Mark who waa the account manager begun to get aggressive and extremely rude. I have reported this company to the Canadian Anti Fraud Centre. FOR THOSE WHO ARE RATING THIS COMPANY 5 STARS ARE FAKE! NOTICE HOW THEY ARE FROM GB OR USA !! THE NUMBER BEING USED TO CONTACT ME WAS 07766 85944. ALSO WHEN YOU GO TO THEIR WEB PAGE AND GOOGLE THE FAKE CEO NAME NOTHING SHOWS. PLS REPORT THIS FIRM TO YOUR FRAUD AUTHORTIES AND POST REVIEWS EVERYWHERE.”
Although Wealth-Arbitrage advertises their platform, tools and costs as most amiable and lucrative, do not be quick to believe so. The leverage goes up to 1:50, which isn’t overly high, considering some illicit brokers offer several thousand times bigger. However, the leverage where Wealth Arbitrage offers their services is limited to 1:30.
As for the other trading costs, the broker didn’t find it fit to publish fees on their website and properly inform traders of the expenses. This lack of transparency can later result in astronomical fees, especially the ones occurring during money transfers.
Poor Choice of Tools and Features
This is the aspect of Wealth Arbitrage that you need to see. Also, this is where the fraudsters show their real face and intentions. The promised Wealth Arbitrage platform is a desktop malware and a non-existent web trader. When no trading is possible, there’s no use of promising a variety of tradable instruments. In the end, when you see the prices of the packages, you’ll easily give up on investing a single dime.
Malware Instead of Platform
Advanced, fresh and revolutionary, the Wealth Arbitrage software should be the most comprehensive and helpful trading terminal. Unfortunately, all our attempts to download it went down the drain when our browser repeatedly refused to accept the suspicious file. After logging into the user area, the web trader wasn’t accessible either. Not without contacting the support office and investing first.
The offer of financial instruments at Wealth Arbitrage isn’t overly impressive. Either way, that doesn’t matter much when the trading platform is out of reach. Here’s the tradable assets groups that the website lists as available:
- Crypto (BTC, ETH, LTC, ETC, SOL, LUNA, DOGE, DOT)
- Forex (EUR/USD, USD/JPY, EUR/GBP, EUR/CHF, AUD/USD)
- Metals (Silver, Gold, Platinum)
- Indices (HK50, ES35, DE40, FR40, UK100, US500)
- Energies (Oil, Natural Gas)
- Futures (Gold, Dow Futures Mini)
- Shares (Facebook, Netflix, Disney, 3M, Boeing, Tesla)
Unreasonable Account Prices
Perhaps the least attractive bit of the entire Wealth Arbitrage arsenal are their overpriced packages. While not even remotely useful or rich in features, these accounts are simply too expensive to be worth the risk. Especially when they’re sold by an unregulated broker like this one and many others, FCTrading being one, too.
- Beginner – 5,000 EUR
- Trader – 10,000 EUR
- Expert – 25,000 EUR
- VIP – 50,000 EUR
- Exclusive – 100,000 EUR
Mobile Trading App
Android users at Wealth Arbitrage are offered to be able to trade on the go via their nameless mobile app. After so many unpleasantries with the desktop and web terminal, we were simply reluctant to risk contaminating our mobile devices with more malware. Please avoid downloading suspicious software to your machine. Especially if it’s offered by an unlicensed financial services company.
Opening a Wealth Arbitrage account immediately requires you to contact the support service in order to discuss depositing. That instantaneously made us doubt the existence of risk-free trading. After also carefully examining the website offer, we determined that the broker doesn’t even mention the possibility of opening a free Demo.
Wealth Arbitrage claims to accept all major credit cards and bank transfers. We weren’t able to verify these claims as our access to the user panel was extremely limited without initial deposit. We advise caution, though. This unregulated entity can claim just about anything they wish, all in order to seem reliable and convincing.
All of their victims report about withdrawal obstacles and problems that involve additional fees, usually even higher than the withdrawal sum itself. What this broker does is do anything in their power to discourage the victims from trying to take their initial investment back.
All the company contact information is based on an email ([email protected]) and an online form. There is no chance to chat directly with a support agent, request a callback or contact the broker through a phone number. It’s no surprise ex customers have complained about the support service not functioning and being completely unreachable.
Few Key Facts to Remember
Before investing in suspicious businesses, please make sure to double check if your broker of choice is indeed what they claim to be. Your biggest ally is your knowledge and the abundance of information. However, slip ups can happen, and we’re well aware how convincing swindlers are.
In case of a fraud, please do not wait. Feel free to contact us through any of the channels we provide and tell us about your experience. Our support team can help you overcome the disdain and issue a chargeback successfully.
What is Wealth Arbitrage?
Wealth Arbitrage is an anonymous brokerage services provider without a license or regulation.
Is Wealth Arbitrage Legit?
No, this firm is not in any way honest, transparent or legitimate. Any information about the company name, status and legal background is omitted from the website.
How To Get Money Back From Wealth Arbitrage?
The best way to deal with these cyber criminals is to get in touch with our legal experts team that can help you recover the funds stocks with fraudsters behind Wealth Arbitrage.