Wizard Capitals Review – Hustling Wizard Uses Disappearing Magic

The domain we’re about to discuss in our article belonged to a fraudulent company that was allegedly based in an offshore jurisdiction. It was only active for a limited time, before being locked down to prevent access. Whether the fraudsters are attempting to make a comeback at some point remains to be seen.

Our Wizard Capitals review will give you plenty of reasons to avoid dealing with offshore companies.

Impossible To Access

The wizardcapitals.com website still exists, and by looking into the WhoIs database it is evident that somebody still regularly pays to extend the domain lease. Most probably, the people behind the Wizard Capitals scam are waiting for a moment to restart their scheme.

Any attempt to access the site, however, will be met with a simple “We’ll be back soon!” message. With only a single email link on the website, and the one that doesn’t really work, the site itself is pretty much dead for all intents and purposes.

This makes the Wizard Capitals withdrawal all the more difficult in the end, yet it is still far from impossible. Contact our legal experts for more details on how to recover your money.

What About Wizard Capitals Regulation?

Wizard Capitals claims to be regulated by the FSA of Saint Vincent and the Grenadines. Before we even go into explaining that this authority body is not a regulator for Forex firms, just check the regulation number – XXXXX BC 2021. From this, you can understand it’s fake.

Why Must A Broker Have a License?

A broker must have a license to provide a money-back guarantee. Even if something goes wrong, regulators have compensation funds to reimburse potential victims. With Wizard Capitals, there’s no such guarantee.

Besides the fact that the provided license number is false, you should know that the FSA of SVG is not regulating Forex and binary options firms, leaving them to opt for a license in the country of service. 

In order to add to the above, we strongly advise you not to invest in fraudulent brokers Ortegazak, GlobalPairs and FinLibra.

Traders Reviews About Wizard Capitals

Wizard Capitals has been rated negatively, and there are a lot of bad comments. Mainly, clients are complaining about withdrawals. It seems that once you deposit the funds with the broker your account manager will work hard to earn your trust. You may see some fake profits and be convinced to deposit more. The broker will simply block your account access and stop responding when it comes to payouts.

All The Comments Are Bad

With how little traction the site saw when it was still active, it’s no wonder that there’s not a lot of online content to be found about the firm.

Looking for Wizard Capitals reviews will mostly see you drawing a blank, with even the most popular ratings platform, TrustPilot, having a grand total on one comment. The comment in question is not exactly a testimonial either, as it’s more of a cautionary warning about the firm being unregulated.

Over on Reddit, the situation is somewhat different, with users complaining about being defrauded for money. Something that caught our attention is a complaint of one particular Redditor who implies connection to another known fraudulent entity.

What Platforms Does Wizard Capitals Offer? – Available Trade Software

Wizard Capital offers a proprietary WebTrader for desktop and mobile versions. Supposedly, the company offers four platforms, among which MT5, but it’s far from the real situation from all we saw.

Wizard Capitals MetaTrader 5 – Is It Available?

Some brokers use reputable software such as MT4 or MT5 to lure you into investing when, in fact, they offer nothing. Once you sign up, you will see the links to download the MT5. Yet, none of them work, and all you can access is a WebTrader.

All About Wizard Capitals Accounts                

There are 3 the broker account types:

1. Classic – $1,000
2. Standard – $1,000
3. VIP – $10,000

The main difference between the first two types is the spread. The Classic account offers a higher spread and no commission, while the Standard has quite a low spread and additional fees. The VIP account has the lowest leverage and spread.

Does Wizard Capitals Have A Demo Account?

The trading company doesn’t have a Demo account, and you need to deposit the funds if you want to test their system.

Wizard Capitals – Where’s The Trading Scam Active?

The broker mainly provides its services in:

• US
• UAE
• Canada
• Serbia

Wizard Capitals Range of Trading Instruments & Markets

The firm allegedly offers trading on 5 major markets – currency pairs, commodities, indices, shares, and cryptocurrencies. Since there’s no Demo account and the platform link doesn’t work, we were unable to verify this and confirm the exact number of assets. 

Since we already know that this trading firm cannot be trusted, we advise you to avoid it by all means.

About Wizard Capitals Trading Conditions

The broker offers spread from 0.1 to 1.2 pips for EUR/USD pairs depending on the trading account. Besides, there’s a commission of $8 per lot on the Standard account and $7 per lot on the VIP account. These commissions are too high compared to other brokers, being another reason to avoid the company.

Please, also remember the names of Strategic FX, EmiDeals and ZMarket Global scams and avoid them at all costs! Also, always check the history of online trading companies before investing!

High Leverage Wizard Capitals

While most regulators limit their leverage to up to 1:50 for the Forex market, the trading company allows from 1:200 to 1:1000. With this exceptionally high leverage, you’re risking 200 to 1000 more times to lose everything you invested in and potentially have a debt towards the company. Be aware of such schemes.

Wizard Capitals Deposit, Withdrawal Methods, and Fees

The broker has never specified accepted payment methods or fees. While legitimate brokers have a Deposit and Withdrawal Policy, giving you all the details, this company has nothing. 

The lack of basic Terms and Conditions is just another red flag and another reason for us to urge you not to invest with this fraudulent firm.

Scammed by Wizard Capitals Broker? – Let Us Hear Your Story

If you were scammed by Wizard Capitals or a similar bogus broker, let us know. Our chargeback specialists will be more than happy to help you with this issue and assist you in filing a dispute.

But What Is A Chargeback?

This is a way for your bank to recover the funds from the merchant in case you can provide evidence about the scam. Get in touch now, and let’s start the procedure before it’s too late!