WikiFX Review: Is WISEMARKET a Solid Broker or Just Another Scam?

Recently, WikiFX has exposed a broker named WISEMARKET delayed the Investors Withdrawal. Is this broker reliable？ WikiFX made a comprehension review on this broker to help you better understand the truth, we will analyze the reliability of this broker from specific information, regulation, exposure, etc.

If you want to know about the precious article related to this broker, please check the link below.

Breaking: WISEMARKET Delays the Investor’s Withdrawal

WISEMARKET is a newly established broker registered in Saint Vincent and the Grenadines. Recently, this broker attracted our eye as an investor told WikiFX that WISEMARKET delayed his withdrawal. The withdrawal has taken more than the claimed three days and the investor still can’t get his money back right now.

Exposure 2023-08-31

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WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of WISEMARKET based on the facts.

What is WikiFX？

• WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry.

• WikiFX is able to evaluate the safety and reliability of more than 45,000 global forex brokers.

• WikiFX gives you a huge advantage while seeking the best forex brokers. For more information, such as the review and exposure of brokers, please visit our website (https://www.WikiFX.com/en)

Evaluate the reliability of WISEMARKET based on its general information and regulatory status

About WISEMARKET

Established in 2022, WISEMARKET is a forex broker registered in Saint Vincent and the Grenadines. As an online forex broker, WISEMARKET offers a variety of market instruments for trading, including Forex, cryptocurrency, stocks, and ETFs. Traders can access the forex market to trade major, minor, and exotic currency pairs. The broker also provides the opportunity to trade popular cryptocurrencies such as Bitcoin, Ethereum, and others. However, WikiFX has given this broker a low score of 1.23/10.

Account Types

WISEMARKET provides two types of trading accounts: a live account and a demo account.

Spreads & Commissions (Trading Fees)

WISEMARKET does not disclose detailed information about spreads and commissions on its website. Spreads typically vary depending on the trading instruments and market conditions. They can be fixed or variable, with variable spreads often widening during volatile market periods. Lower spreads generally indicate lower trading costs for traders.

As for commissions, WISEMARKET does not explicitly mention any commission charges. However, it is essential to note that some brokers may incorporate commissions into their spread or charge separate commissions for certain types of trades, such as ECN or DMA accounts. It is recommended to contact WISEMARKET's customer support or account representatives to obtain accurate information regarding any potential commissions.

Regulatory Status

The legitimate license of WISEMARKET

WISEMARKET is an unregulated broker. WISEMARKET is an offshore broker registered in Saint Vincent and the Grenadines, which means it is not regulated by reputable financial authorities.

Saint Vincent and the Grenadines is an attractive place for financial companies to operate through an offshore company. there is no sharp regulation or overseeing of the company operation implemented. The SVG broker can run its activity and accept forex payments through credit cards but is not overseen.

Exposure related to WISEMARKET on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFX Exposure function helps you get feedback from other traders and reminds you of the risks before it starts.

The number of complaints received by WikiFX has reached 14 for this broker in the past 3 months. This is a red flag that traders need to know. The biggest problem people complain about the most is withdrawal rejection.

Conclusion

This broker was established in 2022, which means this broker is pretty young. It is normal to see a young broker have a relatively low WikiFX score. The WikiFX score of a broker can be increased or decreased if the broker is constantly running the business in a good or bad direction. However, recent complaints against this broker have brought it to light. We need to be aware of the potential risk as it already has a record of delaying withdrawals.

If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.

Click on WISEMARKET's WikiFX page for details