General Information
WARLOCK MARKET is an unregulated brokerage firm based in the United Kingdom but claims to be regulated in the United States for 2-5 years. However, the regulatory licenses appear to be suspicious and unauthorized. The broker primarily focuses on the Chinese market and offers services related to MT4/5 white label. The WikiFX score for WARLOCK MARKET is significantly low due to the abundance of complaints from users.
WARLOCK MARKET provides a range of market instruments for trading, including forex currency pairs, equity indices, oil, gold, silver, and CFDs. They offer both Standard and ECN account types, with the ECN account utilizing ECN/STP technology for direct routing of customer orders to international banks. The broker claims to provide low spreads starting from 0.0 pips, but specific details for individual instruments are not mentioned. The minimum initial deposit required by WARLOCK MARKET is stated to be high, raising concerns about potential scam activities.
The broker supports the MetaTrader5 (MT5) trading platform, which offers various charting tools, market indicators, and customizable trading bots. It is accessible through web browsers on different operating systems and provides features for technical analysis and real-time quotes. However, the negative reviews on WikiFX indicate a high risk of dealing with WARLOCK MARKET, particularly due to issues related to fund withdrawal, frozen accounts, and unresponsiveness from customer service.
Customer support services are available 24/7 through email and live chat on the website. The website is accessible in multiple languages, catering to a diverse range of customers. Overall, caution is advised when considering WARLOCK MARKET as a broker, and alternative, regulated options should be explored.
Pros and Cons
WARLOCK MARKET offers a range of market instruments for trading, including forex currency pairs, equity indices, oil, gold, silver, and CFDs. They provide both Standard and ECN account types, with the ECN account utilizing ECN/STP technology for direct routing of customer orders to international banks. The MetaTrader5 (MT5) trading platform offers a user-friendly interface with a variety of tools for analysis and trading in multiple financial markets. However, there are significant drawbacks to consider. The broker is unregulated and holds suspicious regulatory licenses. Numerous complaints have been reported, particularly regarding the inability to withdraw funds and unresponsiveness from customer service. The high minimum deposit requirement raises concerns, and the specific details regarding spreads, commissions, and deposit/withdrawal fees are not transparent. Overall, caution should be exercised when dealing with WARLOCK MARKET, and alternative, regulated brokers with better reputations should be considered.
Is WARLOCK MARKET Legit？
Based on the information provided, it appears that WARLOCK MARKET is not properly regulated. The broker is listed as unauthorized and does not have a valid regulation from any recognized regulatory agency. The information suggests that there are warning signs and potential risks associated with this broker. It is advisable to exercise caution and consider alternative regulated brokers for trading activities.
Markets Instruments
WARLOCK MARKET offers a range of market instruments for trading. Here are the main instruments available:
1. Forex Currency Pairs: WARLOCK MARKET provides trading opportunities in various currency pairs. Forex trading allows customers to speculate on the exchange rate fluctuations between different currencies, such as EUR/USD, GBP/JPY, AUD/CAD, and more.
2. Equity Indices: WARLOCK MARKET offers trading in equity indices, which represent the overall performance of a group of stocks from a particular stock exchange. Traders can speculate on the price movements of indices like the S&P 500, NASDAQ, FTSE 100, and others.
3. Oil: Trading in oil allows customers to speculate on the price movements of crude oil. WARLOCK MARKET provides opportunities to trade popular oil contracts, such as Brent Crude Oil and West Texas Intermediate (WTI) Crude Oil.
4. Gold & Silver: WARLOCK MARKET enables traders to engage in the trading of precious metals like gold and silver. These metals are often considered as safe-haven assets and can be traded in both spot and derivative markets.
5. CFDs: Contract for Difference (CFDs) is a popular trading instrument offered by WARLOCK MARKET. CFDs allow traders to speculate on the price movements of various underlying assets without actually owning the assets. This includes commodities, indices, stocks, and more.
Account Types
WARLOCK MARKET offers both Standard and ECN (Electronic Communication Network) account types.
STANDARD ACCOUNT: The Standard account is a common type of trading account that allows traders to execute trades using the broker's provided spreads. The trading orders are processed internally by the broker.
ECN ACCOUNT: The ECN account utilizes the ECN/STP (Straight Through Processing) technology. This means that all customer orders are directly routed to international banks, providing anonymous and fast execution. The banks involved in the process hold banking licenses and have legitimate forex liquidation qualifications, which is intended to offer investors a fair and secure trading environment. With ECN accounts, traders may benefit from potentially lower spreads and access to deeper liquidity.
Minimum Deposit
The minimum initial deposit required by WARLOCK MARKET to start real trading is stated to be absurdly high, reaching up to $1000. It is worth noting that this high minimum deposit requirement, particularly for an unregulated broker, raises concerns and may indicate a potential scam. It is generally recommended to be cautious when dealing with brokers that have significantly high minimum deposit requirements.
Spreads & Commissions
WARLOCK MARKET claims to provide low spreads, with a starting point of 0.0 pips. However, the specific spreads for individual instruments are not mentioned. It is important to note that spreads can vary depending on market conditions, liquidity, and the specific trading instrument. It is recommended to contact WARLOCK MARKET directly or refer to their platform for more detailed information on spreads and commissions for specific trading instruments.
Trading Platform Available
WARLOCK MARKET supports the MetaTrader5 (MT5) trading platform, which is widely used in the market. MT5 offers a range of charting tools, market indicators, and customizable trading bots to analyze the market and execute trades.
With MT5, traders can access various financial markets including forex, futures, and stocks from a web browser without additional software or browser extensions. The platform is compatible with Mac, Linux, and Windows operating systems.
MT5 provides a user-friendly interface with features such as five indicators per chart, three chart types, and nine timeframes. It offers nearly 30 indicators and 24 graphical objects for technical analysis. Traders can access these features at any time and from any browser.
The platform ensures data protection and does not have ads. Traders have the ability to set custom time intervals and create multiple watchlists. Real-time quotes are available to stay updated on market movements.
Overall, the MetaTrader5 platform offered by WARLOCK MARKET provides traders with a set of tools and features to facilitate trading and analysis in various financial markets.
Deposit& Withdrawal
WARLOCK MARKET offers several options for depositing and withdrawing funds. Deposits can be made using Visa and Mastercard payment cards or bank wire transfers. If you choose to deposit using a payment card, the processing time is up to 24 hours. It's important to note that the specific details regarding fees and processing times for deposits are not mentioned in the provided information.
For withdrawals, WARLOCK MARKET allows withdrawals to be made using Visa and Mastercard payment cards, Qiwi wallet, and Skrill. The processing time for e-wallet transactions, such as Qiwi wallet and Skrill, is stated to be up to 5 business days. However, the details regarding fees and specific withdrawal processing times are not provided.
Reviews
The reviews on WikiFX regarding WARLOCK MARKET are overwhelmingly negative and indicate potential scam activities. The common complaint revolves around the inability to withdraw funds from the trading account. Clients have reported various issues, such as accounts being frozen, requests for additional payments or taxes before withdrawals, unresponsiveness from customer service, and blocked access to accounts.
Some reviewers have mentioned losing significant amounts of money, ranging from thousands to hundreds of thousands of dollars, with no resolution or refund. There are also allegations of romance scams, where individuals were lured into depositing funds through false promises or relationships.
Overall, the reviews on WikiFX suggest a high risk of dealing with WARLOCK MARKET. It is advisable to exercise extreme caution and consider alternative, regulated brokers with a more positive reputation for trading activities.
Customer Support
WARLOCK MARKET provides customer support services to its clients. They offer 24/7 customer support, ensuring assistance is available at any time. The website is accessible in multiple languages, including English, Japanese, French, German, Chinese, and Spanish, catering to a diverse range of customers.
Clients can reach the customer support team through various channels. They can contact the support team via email at support@warlockmarket.com, providing a written inquiry or requesting assistance. Additionally, a live chat option is available on the website, allowing clients to engage in real-time conversations with support representatives.
Conclusion
In conclusion, WARLOCK MARKET is an unregulated broker with numerous disadvantages and high risks. The lack of regulation raises concerns about the safety and legitimacy of the broker. The minimum deposit requirement is stated to be unreasonably high, potentially indicating a scam. Negative reviews and complaints about withdrawal difficulties further add to the skepticism surrounding WARLOCK MARKET. However, it does offer a variety of market instruments for trading and supports the popular MetaTrader5 platform. Additionally, it provides customer support services and offers multiple language options. Despite these advantages, the overall risks and negative reputation associated with WARLOCK MARKET make it advisable to exercise extreme caution and consider alternative, regulated brokers for safer trading activities.
FAQs
Q: Is WARLOCK MARKET a regulated broker？
A: No, WARLOCK MARKET is not regulated. It does not have a valid regulatory license.
Q: What market instruments can I trade with WARLOCK MARKET？
A: WARLOCK MARKET offers trading opportunities in various market instruments, including forex currency pairs, equity indices, oil contracts, gold and silver, and CFDs on commodities, indices, and stocks.
Q: What types of trading accounts does WARLOCK MARKET offer？
A: WARLOCK MARKET offers both Standard and ECN (Electronic Communication Network) account types. The Standard account allows trading with the broker's provided spreads, while the ECN account provides direct routing of orders to international banks for anonymous and fast execution.
Q: What is the minimum deposit requirement for WARLOCK MARKET？
A: The minimum initial deposit required by WARLOCK MARKET is stated to be high, reaching up to $1000.
Q: How can I deposit and withdraw funds with WARLOCK MARKET？
A: WARLOCK MARKET allows deposits through Visa and Mastercard payment cards or bank wire transfers. Withdrawals can be made using Visa and Mastercard payment cards, Qiwi wallet, and Skrill.
Q: What trading platform does WARLOCK MARKET support？
A: WARLOCK MARKET supports the MetaTrader5 (MT5) trading platform, which offers a range of tools and features for analysis and execution in various financial markets.
Q: Are there any positive reviews about WARLOCK MARKET？
A: The reviews on WikiFX regarding WARLOCK MARKET are overwhelmingly negative, indicating potential scam activities and difficulties in withdrawing funds.
Q: How can I contact customer support at WARLOCK MARKET？
A: You can contact WARLOCK MARKET's customer support team through email at support@warlockmarket.com or through the live chat option available on their website. They offer 24/7 customer support services in multiple languages.
2022-12-13 07:50
