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WTM -

Score

1.51 /10
Danger

WTM

United Kingdom

5-10 years

Suspicious Regulatory License

White label MT4

Regional Brokers

High potential risk

http://wtmfx.net/en

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Comparison

Quantity 2

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.00

Risk Management Index0.00

Software Index4.00

License Index0.00

Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

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

Wealth Trading Market

Company Abbreviation

WTM

Platform registered country and region

United Kingdom

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away!
Previous Detection : 2024-09-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Exposure

2 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

Scam

Good evening, I have just been scammed. They contacted me through Whatsapp and then Telegram. They told me about investment, the first 2 investments they deposited. But in the third I had to make a very high payment and PS did not have the capital to do it. They simply told me that they will not give me until I make the payment. They scammed me for an amount of approximately 1150 soles and PS I would like to recover the money, thank you. Attached photographs of the deposits and conversations.

Chino4755
2023-11-04 08:59
Scam

I have been cheated!

First they spoke to me on WhatsApp, they moved me to Telegram and asked me for a small investment in exchange for a commission. The first two investments complied and were transferred to me with commission included. As the amount grew, they asked me for more and more to be able to finish what they called homework and to be able to have my money plus my commission. In the end that never happened and they ask for more and more with an investment of more or less 1,500 USD. I would like to get back my invested money at least.

sol1142
2023-12-01 05:35
WTM · Company summary

Note: WTM's official website: http://wtmfx.net/en is currently inaccessible normally.

WTM Information

WTM is a trading platform registered in the United Kingdom since 1994. It is currently not regulated by any authority, as it is not authorized by the NFA. The platform's official website is currently inaccessible.

WTM Information

Is WTM Global Legit？

Is WTM Global Legit?
National Futures Association (NFA)
Current StatusUnauthorized
Regulated by United States
License TypeCommon Financial Service License
License No.0521497
Licensed InstitutionWEALTH TRADING MARKET CO LIMITED

WTM's regulatory status is “not authorized by the NFA,” meaning it is not regulated by any authority. The lack of regulation significantly increases the risk of trading on this platform, as it means there are no official or government safeguards and protections in place.

Is WTM Global Legit?

Downsides of WTM

  • Unavailable Website:The official website of WTM is currently inaccessible, which severely reduces the platform's transparency and reliability.
  • Lack of Transparency:There is a significant lack of information about WTM online, making it difficult for investors to make informed decisions compared to other brokers. The inaccessible website means there is no trustworthy official information available regarding fees, security measures, or trading software.
  • Regulatory Issues:WTM is not authorized by the NFA, meaning it is unregulated. This lack of regulation poses a high risk for trading activities.
  • Investment Scam Reports:There have been reports of investment scams associated with WTM, including false promises of returns and subsequent demands for large payments, leading to financial losses.

Negative WTM Reviews on WikiFX

On WikiFX, “Exposure” refers to user reviews and feedback.

Users are advised to review other users' experiences on the WikiFX website before choosing a trading platform. The WikiFX link for WTM is: https://www.wikifx.com/en/dealer/8621893256.html

Currently, there are four exposure reports on WTM. Here are details on two of them:

Negative WTM Reviews on WikiFX

Exposure 1. False promises of returns

ClassificationFalse promises of returns
Date2023-12-01
Post CountryArgentina

A user reported that WTM promised investment returns. Initially, the user did receive some profits. However, the platform began demanding increasingly higher investment amounts, resulting in a loss of approximately $1,500.

Visit https://www.wikifx.com/en/comments/detail/202311303752885580.html for more details.

Exposure 2. Subsequent demands for high payments

ClassificationSubsequent demands for high payments
Date2023-11-04
Post CountryPeru

A user reported being contacted by WTM representatives via WhatsApp and then Telegram to start investing. Similar to the first user, initial trades were successful, but the platform increasingly demanded higher investment amounts, leading to a loss of 1,150 soles.

For more details, visit: https://www.wikifx.com/en/comments/detail/202311045172801076.html

Conclusion

WTM is an unregulated trading platform with several significant drawbacks. Its lack of regulation means there is no oversight or protection for investors. Additionally, the inaccessible website further reduces transparency, and numerous negative feedbacks highlight issues such as increasing investment demands and potential fraud.

Overall, WTM is not recommended for investment trading.

User Reviews

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User comment

2

Comments

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RTLAN
more than one year
Total scam. Stay away. They won't stop calling you for money. Just today, I got 11 calls from them. They're rude, arrogant, and relentless.
Total scam. Stay away. They won't stop calling you for money. Just today, I got 11 calls from them. They're rude, arrogant, and relentless.
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2024-01-18 18:20
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Xayer
more than one year
Engaging with WTM was a rollercoaster. Initially, they seemed accessible on WhatsApp, later shifting to Telegram. The first investments went smoothly, accompanied by promised commissions. However, as the stakes increased, so did their demands for additional funds, citing unfinished "homework" and the elusive return of my money with commissions. Sadly, this never materialized, and they persisted in requesting more, reaching around $1,500 USD. Retrieving my invested capital is now my primary concern.
Engaging with WTM was a rollercoaster. Initially, they seemed accessible on WhatsApp, later shifting to Telegram. The first investments went smoothly, accompanied by promised commissions. However, as the stakes increased, so did their demands for additional funds, citing unfinished "homework" and the elusive return of my money with commissions. Sadly, this never materialized, and they persisted in requesting more, reaching around $1,500 USD. Retrieving my invested capital is now my primary concern.
Translate to English
2023-12-28 18:03
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