You are not missing out on anything if you have never seen the bankwiz.net website. The company was a completely non-transparent entity. Firstly, they were hiding their ownership details. Secondly, they claim to operate from the UK and Switzerland.
Yet, both statements bring out some kind of responsibility. But also potential protection for traders. If the company doesn’t match the requirements for the companies registered in the mentioned countries, traders are in trouble. Keep reading our Bankwiz review for more.
One of the leading signals not to trust this firm is the lack of regulations. As the FX and CFD brokerage, they must obtain the license for those services. In their case, preferably FCA and FINMA license. But any other Tier 1 regulation would be suitable, such as BaFin, ASIC, or CFTC.
Since the company was running a web-based trading platform, you couldn’t expect anything more than manipulation. Firstly, they will lure you with some fictive profit ideas to get started with them. Secondly, they will make it look like you are really making some profits on their shady platform. But with web-based trading platforms, it’s nothing more than fictive market data.
As long as traders are depositing money, everything is nice and shiny. But the first moment they decide to withdraw some of the money, the pressure starts. The company’s educated boiler room agents are there to put pressure on a trader and never let them withdraw the funds. If you recognize yourself in such a situation, contact our refund experts as soon as possible for refund advice.
Since none of the Bankwiz reviews are available, you could be the first one to share your opinion. Especially if you are coming from countries where this company operates the most., such as:
If you were expecting some top-notch trading platform, this is not the right place for that. The only way the Bankwiz broker could make their clients trust them is with their web-based software. If you didn’t know already, such platforms are easy to access through the back end. Ultimately, the company controls what you see in the balance.
But to avoid these fraudulent tricks, we suggest you choose top-tier licensed firms with trusted software. The best ones in the industry are cTrader and MetaTrader. At least you’ll avoid manipulation with these choices.
Another key fact about the Bankwiz trader is that it’s not available for mobile devices. Instead, all traders have to use browsers to access their trading accounts. Yet, once you see all the downsides of that, you will quickly switch to licensed brokerages.
In general, the instrument’s availability is the last problem here. Whatever the company offers should be taken with reserve primarily because all the instruments have fictive pricing. Anyway, some of the options are:
The account types with the Bankwiz brokerage remain unknown as well. The only thing we can find is that they need $250 from new customers to get started. But many traders already find that to be a red flag in the trading world. Anyway, all the offers from unregulated companies should be investigated before depositing more money.
Important to realize is that the Bankwiz brokerage doesn’t reveal its fees transparently. Yet, with the FCA warning, we can only expect all their trading conditions to be fraudulent. Starting with leverage higher than 1:30 and a wide range of other commissions and fees. Primarily the ones not disclosed to the public.
Currently, none of the bonus offers are available. But it’s just a matter of time before they rise with another brand. In any case, just keep in mind not to accept any bonus offers if you want to get any of the money out.
With missing regulations and numerous negative allegations about this firm, withdrawals are really questionable. The company is hiding ownership details, T&Cs, withdrawal policies, and fees. Therefore, the only thing you can expect is problems.
Luckily, our Bankwiz review helps you understand all of those. Companies primarily use KYC and AML issues during the withdrawal process to prevent withdrawals. But also non-existent fees and taxes.
If you experienced any of the mentioned issues during withdrawals, the only solution is to apply for a refund. This way, you can prevent these swindlers from expanding their business. But also, you can get your money back.
But to know the right moves, feel free to contact our chargeback team. In the first meeting, you can find out all you need to know about the refund without any costs. Book your consultation today, and don’t miss a chance to get the funds back!
Bankwiz is an anonymous brokerage presenting itself as a UK and Swiss firm but without transparent ownership information.
Not at all. The Bankwiz company is not regulated either by the FCA or the FINMA.
Depending on the funding method, you can apply for different procedures. For detailed advice, feel free to contact our refund experts.
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