WealthPros 365 Review: What We Know About The Platform
WealthPros 365 claims to be a legitimate Forex brokerage firm that offers web trading with high leverage. However, we know basically nothing about this shady platform because the bogus website lacks much-needed transparency.
The information is scanty so we had to do some digging. Our findings are presented in the WealthPros 365 Review, which is why we urge you to read our analysis and learn why this platform is pretty risky and dangerous, just like Ixxen.
|Regulated by:||Unregulated Scam Broker|
|Is This Company Safe?||No|
|Have Warnings from:||N/A|
|Registered in:||UK (allegedly)|
|Minimum Deposit:||5,000 EUR|
|Deposit Bonus:||Available but Undisclosed|
|Trading Assets:||Forex, Commodities, Stocks, Cryptocurrencies|
|Free Demo Account:||Unavailable|
|How to Withdraw from This Company?||Since this company is unlikely to return your money – contact your bank or financial regulator, or simply reach out to us for professional assistance in recovering your funds.|
Legal Info: Is WealthPros 365 Regulated?
The obscure website only disclosed the address of this brokerage business. Namely, the firm is allegedly based in London but there is absolutely no information about this firm anywhere on the internet. We thus concluded that WealthPros 365 is not a licensed entity.
For that reason, the firm cannot be trusted. The absence of supervision from the UK’s Financial Conduct Authority (FCA) implies that the broker’s clients aren’t protected by the financial ombudsman or the compensation scheme.
Instead of trusting unlicensed tricksters, you should stick to regulated providers operating under the watchful eyes of esteemed financial authorities such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), BaFin (Germany), MAS (Singapore), CySEC (Cyprus), etc.
Who Are WealthPros 365’s Targets?
According to godaddy.com/whois, the Wealthpros365.com website domain was created on February 16, 2023. Since then, the financial swindler has mainly been targeting unsuspecting traders who reside in the following countries:
- United Kingdom;
The UK and Canada in particular are known for heavy financial market regulations, especially when it comes to Forex and digital assets. One of the key laws stipulates that each financial market participant is required to possess a necessary license or permit.
We have already stressed the fact that WealthPros 365 is not licensed by the FCA to operate under that jurisdiction. Furthermore, the broker directly violates the UK regulator’s rules, specifically regarding the maximum leverage, by offering up to 1:400 while the FCA’s cap is 1:30.
Trader Reviews – Sharing Experiences
Truth be told, WealthPros 365 received surprisingly positive feedback on a couple of less popular forums, but it’s important to mention that there weren’t that many reviews.
Whether these reviews are honest, we do not know. Nevertheless, we did also find some complaints against the broker.
“Try to ask them for a withdrawl for the half your balance they will refuse. They will grow up the swap that you will never win A PENNY and you will lose ALL YOUR MONEY,”
one trader stressed on personal-reviews.com, indicating withdrawal issues.
Be wary of fake reviews because it’s a common trick used by the likes of OroTrader to deceive traders. For that reason, please avoid trading on unregulated platforms and instead stick to transparent and licensed providers.
Which Trading Platform Is Available?
The WealthPros trading platform is a fairly simple browser-based terminal that supports popular tradable instruments and options such as Forex currency pairs, commodities, stocks, and cryptocurrencies.
There’s a mobile platform available for Android and iOS as well. However, the demo account is missing so we couldn’t check out the platform for ourselves. Nevertheless, if you want a pure trading experience, you should stick to licensed providers that support proper third-party software such as MetaTrader 4, MetaTrader 5, or cTrader.
MT platforms are arguably the best in the industry, enabling traders to utilize innovative tools such as automated & algorithmic trading, advanced charting, live market reports, branch optimization, 20+ timeframes, EAs, a user-friendly interface, etc.
Available Live Account Types
|Minimum Deposit||5,000 EUR||10,000 EUR||50,000 EUR||Invitation Only|
Leverage, Spreads, Commissions, Demo Account
The maximum leverage that WealthPros 365 offers is 1:400, which, as we mentioned, is significantly higher than the legal cap for retail clients in the UK (1:30). High leverage can amplify potential profits but also potential losses, and the latter usually occurs.
As for the spreads, the broker simply mentioned “silver/gold/platinum spreads” without revealing any concrete pips. Commissions were not disclosed either.
If you are a beginner, you should not be risking real money straight away. That’s why every legitimate firm nowadays offers a demo account. WealthPros 365 does not though, which is why you shouldn’t trust the broker.
Deposit and Withdrawal Process
WealthPros 365 states that there are three available payment methods that can be used to fund live trading accounts:
- Credit/debit cards (MasterCard, VISA);
- Wire transfers;
- E-wallets (PayPal, Skrill, etc.);
In case you deposited funds via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days and reverse the transaction. Wires can be reversed via a recall but this action can only work for transactions yet to be completed.
The shady company did not disclose which payment methods can be used to deposit funds. However, we found out that funds can be withdrawn to Bitcoin wallets. Fees and the minimum deposit requirement are unknown as well, which just shows the alarming lack of transparency.
To reverse crypto transactions, you’re going to need to seek out professional assistance as these types of payments can be a nightmare to refund. Luckily, we have a team of experts that can help you recover your funds.
Key Facts To Consider About WealthPros 365
To sum up, our verdict is that this Forex trading platform is nothing but a hoax to defraud mainly traders from the United Kingdom, Canada, Greece, and Albania.
We do not recommend this brokerage firm because it is anonymous and unregulated. You are likely to experience withdrawal issues. In case you have also lost money to the WealthPros scam, you must seek our professional help to recover your funds!
Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.
Book your consultation with us today and start the chargeback process.
What is WealthPros365?
WealthPros 365 is an anonymous scam broker operating via a web platform with high leverage.
Which Trading Platform Does WealthPros365 Offer?
The unregulated broker offers oversimplified and ineffective web and mobile trading platforms with limited features.
What Can I Do If I Was a Victim of a Scam Broker?
You should book a consultation with our team and tell them about your case. They will explain to you how a chargeback works.