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CITYWEALTH -

Score

1.59 /10
Danger

CITYWEALTH

New Zealand

Scam Brokers

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

New Zealand Financial Service Corporate Revoked

Suspicious Overrun

High potential risk

http://www.citywealth.co.nz

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Comparison

Quantity 2

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index7.59

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

CITY WEALTH MARKETS LIMITED

Company Abbreviation

CITYWEALTH

Platform registered country and region

New Zealand

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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This platform is a Ponzi Scheme. Please stay away! 4
Previous Detection : 2024-12-28
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Verification

Exposure

2 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

For the withdrawal from last year, the principal and interest of 30,000 US dollars have not been credited to the account

In December last year, I listened to the introduction of the salesman to go to the West City Welsh platform to trade, and I submitted withdrawals many times but did not process them. Even the principal is not given out, so the foreign exchange platform can't mess up the set. Who will uphold justice for traders

SHOUHAIZHE575
2023-03-27 08:16
Unable to Withdraw

Return all funds in the account

The customer deposits USD 10,000 and makes a normal transaction profit of USD 32,000, and withdraws USD 18,000, and the remaining USD 24,000 has been delayed. At the end of last year, after communicating with the salesman, the company agreed to handle all the funds in the account. It's been a while since I've asked about this, and there's been no reply.

FX2621761195
2023-04-14 13:49
CITYWEALTH · Company summary

General Information & Regulation

Established in 2013, CityWealth is a New Zealand Registered broker operated by Hortense Holdings Limited. CityWealth is not subject to any regulation, so it is unsafe to trade with this broker.

Official Website Unavailable

Since CityWealth cannot be opened at this moment, we collect some useful information from brokers review website to show you this broker.

Market Instruments

Tradable financial instruments available on the CityWealth platform include currency pairs, shares, commodities and indices.

Minimum Deposit

The minimum deposit required by CityWealth is $250 and can be deposit in USD, EUR, GBP, CNY, JPY currencies. Although this requirement is reasonable, traders are not advised to register real trading accounts here given the fact that CityWealth is unregulated.

Minimum Trade Size

The minimum trade size allowed by CityWealth is 0.01 lots, friendly to beginners.

Leverage

CityWealth offers leverage up to 1:400, which is high. Since leverage can amplify gains as well as losses, inexperienced traders are not advised not use too high leverage.

Spreads & Commissions

In terms of spreads and commissions, spread on the currency pairs EUR/USD pair is 0.6 pips on a standard account type.

Trading Platform Available

When it comes to trading platform available, CityWealth offers MT4 trading platform, available in Windows, PC, Mobile devices. Since CityWealth is an unregulated broker, traders should not trade on this platform in spite of its leading trading platform.

Deposit & Withdrawal

Payment methods working with CityWealth include wire transfer, credit and debit cards. Some other popular online payment processors including PalPay, Skrill and Neteller are not available.

Customer Support

CityWealth does not offer a dedicated customer support and they can be reached through telephone: +4000091977, email: support@citywealth.co.

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