WDC Markets Review- Legit or Scam?
WDC Markets is an unregulated offshore broker and does not seem to have any license from any reputed regulating authority. The broker claims to offer Forex, indices, stocks, CFDs etc. Let us read the full WDC Markets review which will help you to make a decision whether to trade with WDC Markets or not.
About WDC Markets
The official website of WDC Markets is wdcmarkets dot com. The broker is owned by FTG Solutions Ltd. The company is located in British Virgin Islands and operate from Estonia. The website of WDC Markets does not show this information clearly. The broker claims to provide over 300 assets to trade with.
They claim to offer an award-winning trading platform for the traders but there is no information about the award given to it. They have mentioned that it is available in 19 languages and have cutting edge features etc. WDC Markets does not seem to use Meta Trader platform which is the best trading platform used by many legitimate brokers. There is no demo account offered by the broker to trade with which is not a good feature. A demo account helps traders to learn the basics of a broker’s platform with demo money. Here WDC Markets offers direct real account to start trading directly.
WDC Markets lacks regulation by any reliable regulating body like ASIC in Australia, CySec, FCA or others. There is no information regarding regulation in their website. There has been a number of warnings issued against this broker by regulating bodies due to fraudulent activities in their region.
New Zealand’s Financial markets Authority (FMA) has warned New Zealand’s citizens against WDC markets broker. In FMA website they have mentioned that WDC Markets is withholding client funds and may be operating as a scam broker. WDC Markets is not a registered financial service provider and is not authorized to trade in New Zealand.
Spain’s regulating authority CNMV has also warned the investors against WDC Markets and they have not given any authorization to WDC Markets to provide investment services.
There has been a number of complaints against WDC markets which can be seen through trader reviews in different review websites. Their clients say that it is not possible to withdraw some or all of your money from the broker. They give hundred excuses saying it is not possible to withdraw money from them. Another negative review speaks of fake promises made by WDC Markets. The person invested his whole life savings with the broker because WDC Markets promised them of very good returns on the investments. They kept on asking more and more funds and pushing the investor.
Is WDC Markets Scam or Legit?
WDC Markets is not a legit broker and there have been a number of cases of WDC Markets scam. Your funds are not safe with WDC Markets as they are not regulated by any recommended regulating authority.
If you were scammed by WDC Markets in Australia or anywhere, you have the right to get your funds back. File a complaint against this broker with Forex Scams Australia and get help to retrieve your lost money through the fund recovery process.