Is WiiCrypto a safe brokerage? Not if you ask us or the Canadian financial market regulators. It is up to us to expose this unlicensed trading scam in our WiiCrypto Review.
Read all about this shady broker’s dubious trading platform, accounts, assets, and payment methods. But before all that, we shall address WiiCrypto’s unregulated status.
No, WiiCrypto is essentially an anonymous website without an address. In the Terms and Conditions doc, the broker says that the whole business is subject to the governing laws of Estonia, which is a lie.
The Estonian regulator has no connection with this bogus website. So WiiCrypto is basically unregulated and dangerous. If you need more proof, check out the warnings from the Canadian regulators we posted in the following section.
As mentioned, we found several warnings issued against the WiiCrypto scam. It is interesting that all warnings came from Canadian regulatory watchdogs.
This basically means that Canada is off-limits to WiiCrypto. Please heed these warnings, they were issued by official authorities.
We did some research to find out where WiiCrypto was active. Here is a list of domains in which WiiCrypto tried to provide illicit services:
According to WiiCrypto’s website, the selection of available trading assets includes the following:
WiiCrypto’s trading platform is a web-based trading terminal. It looks pretty unpolished and is also lackluster, i.e. there are no advanced features such as automated trading or live market reports.
All in all, this platform is ineffective for proper trading. To make matters worse, WiiCrypto is not regulated, which means that the platform could be rigged to show fake profits.
The financial swindler does not support valid third-party software such as MT4, MT5, cTrader, or SiriX. You better find a licensed provider that offers one of those platforms.
Let’s make an overview of WiiCrypto’s deceitful trading account types:
Each subsequent type offers lower leverage, which is a bit odd. Nevertheless, the Beginner account’s leverage cap is at 1:600, significantly higher than the regulatory limits in domains such as Europe (1:30) or North America (1:50).
Extremely high leverage is risky and often results in losses. The spreads offered are not favorable either. For instance, the Beginner account’s spread is 2.3 pips, which is not profitable. Commissions were not disclosed.
These account types also differ in the available instrument selection. You would have to open a higher tier to gain access to all the aforementioned markets. A huge disadvantage with WiiCrypto is that there is no risk-free demo account option.
From what we read on WiiCrypto’s website, the available payment methods include the following:
According to the WiiCrypto withdrawal policy, fees are “50.00 USD/GBP/EURO for wire transfers; 25.00 USD/GBP/EURO for credit cards plus a processing fee of 10.00 USD/7.00 EUR/5.00 GBP; 25.00 USD/GBP/EURO for ePayments.”
On top of that, there is a” levy of 10% of the withdrawal amount will be charged to any withdrawal from an account that has not executed more than 200 in turnover and/or from accounts that have not been verified,” which is shady. The minimum withdrawal amount for wires is 250 $ and 100 $ for other methods.
We honestly believe that withdrawal issues are inevitable with this anonymous and unregulated website, which is why you should not trade with WiiCrypto.
If you are a victim of the WiiCrypto scam, that is pretty unfortunate. But, there are ways you could get your money back. For instance, credit/debit card transactions can be reversed via a chargeback.
A chargeback can be requested at the issuing bank within 540 days. If you need any help with this process, please contact Global Fraud Protection and set up your free consultation with our team!
Contact us today and start your chargeback process.
No, the broker is unlicensed. WiiCrypto has been blacklisted by several Canadian financial market regulators.
Yes, WiiCrypto included both CFD and crypto trading on their platform.
No. WiiCrypto did not include a risk-free demo account or a free trial.
No, the broker is unlicensed. WiiCrypto has been blacklisted by several Canadian financial market regulators.
Yes, WiiCrypto included both CFD and crypto trading on their platform.
No. WiiCrypto did not include a risk-free demo account or a free trial.
The post Why You Must Read the WiiCrypto Review And Learn the Truth appeared first on Global Fraud Protection.
