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The WikiFX Score of this broker is reduced because of too many complaints!

WiseMarket

Saint Vincent and the Grenadines|1-2 years|
White label MT4|Global Business|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

https://wisemarkets.net

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

25
Server Name
WiseGroup-Demo MT4
Server Location United Kingdom

Contact

+60 348155866
admin@mywisemarket.com
https://wisemarkets.net
Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, VC0100 SVG
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

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

Single Core

1G

40G

Open Now

Contact number

English

+60 348155866

Other ways of contact

Broker Information

More

Company Name

Wise Group LLC

Abbreviation

WiseMarket

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 4
Previous Detection : 2024-07-14
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 31 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United StatesNFA (license number: 0560749) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0560749)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

WikiFX Verification

WiseMarket · WikiFX Survey

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Expose

    WiseMarket · Company Summary

    WISEMARKET Basic Information
    Reggistered Country Saint Vincent and the Grenadines
    Founded in 2022
    Regulation Mwali International Services Authority (MISA)
    Trable Assets Forex, Cryptocurrencies, ETFs and Stocks
    Minimum Deposit N/A
    Account Types live account and a demo account
    Max.leverage Not specific
    Demo Account Yes
    Islamic Account No
    Trading Platform Web-based platform and mobile trading app for iOS and Android devices
    Trading Tools Advanced charting, technical analysis indicators, economic calendar, and trading signals
    Customer Support 24/5 live chat, phone, email, and dedicated account manager
    Educational Resources Trading academy with webinars, e-books, and video tutorials
    Bonuses or Programs Not offered

    Overview of WISEMARKET

    Established in 2022, WISEMARKET is a forex broker registered in Saint Vincent and the Grenadines. As an online forex broker, WISEMARKET offers a range of trading instruments, including major, minor, and exotic currency pairs, commodities, indices, and cryptocurrencies. These assets provide traders with diverse opportunities to engage in the global financial markets.

    WISEMARKET

    Pros and Cons

    WISEMARKE is an offshore broker offering a user-friendly website and a wide range of trading instruments, especially the opportunity to trading stocks and ETFs. However, it has unclear details about minimum deposits. Additionally, customer support options are not clearly specified.

    Pros Cons
    • User-friendly website, easy to navigate
    • Lack of clarity on minimum deposits
    • Wide range of instruments
    • No online chat available
    • Stocks & ETFs available

    Market Intruments

    WISEMARKET offers a variety of market instruments for trading, including forex, cryptocurrency, stocks, and ETFs. Traders can access the forex market to trade major, minor, and exotic currency pairs. The broker also provides the opportunity to trade popular cryptocurrencies such as Bitcoin, Ethereum, and others. In addition, WISEMARKET offers a selection of stocks and ETFs, allowing traders to invest in well-known companies and diversified portfolios. With a range of market instruments available, traders can diversify their investment strategies and take advantage of various trading opportunities.

    Market-Intruments

    Account Types

    WISEMARKET provides two types of trading accounts: a live account and a demo account. The live account is designed for traders who wish to engage in real-time trading with real money. It offers access to the full range of trading instruments and features provided by the broker.

    On the other hand, the demo account is a practice account that allows traders to familiarize themselves with the trading platform and test their strategies without risking real money. It provides a simulated trading environment with virtual funds, allowing traders to gain experience and confidence before transitioning to live trading.

    Unfortunately, the specific details about the minimum deposit amount for the live account are not disclosed on the broker's website. It is recommended to contact the broker directly for more information regarding the minimum deposit requirement and any other account-specific details.

    How to open an account?

    Opening an account with WISEMARKET is a straightforward process that can be completed in just a few simple steps:

    1. Click on “Open Account”: Look for the “Open Account” button prominently displayed on the website. Clicking on this button will initiate the account registration process.

    open-account
    1. Fill out the registration form: Provide the required information, including your name, email address, contact details, and any other information requested in the registration form. Ensure the accuracy of the provided details to avoid any future issues.

    open-account
    open-account
    1. Choose your account type: Select the type of trading account that suits your needs, whether it's a live account for real trading or a demo account for practice.

    2. Verify your account and fund it: After completing the registration, you may need to verify your identity and address as per the broker's requirements. Once verified, you can proceed to fund your account using the available deposit methods. Be sure to review the deposit options and choose the one that is most convenient for you.

    Leverage

    Unfortunately, the specific leverage ratios are not explicitly stated on their website. In general, most offshore brokers may offer leverage ratios ranging from 1:100 to 1:1000 or even higher, depending on the financial instrument being traded. Leverage empowers traders to control larger positions in the market with a smaller amount of capital. By magnifying their buying power, traders can potentially maximize their profits. However, it's crucial to recognize that leverage carries inherent risks. While it can amplify gains, it can also amplify losses, making risk management an essential aspect of trading.

    Spreads & Commissions (Trading Fees)

    When it comes to this core part, WISEMARKET does not disclose detailed information about spreads and commissions on their website. Spreads typically vary depending on the trading instruments and market conditions. They can be fixed or variable, with variable spreads often widening during volatile market periods. Lower spreads generally indicate lower trading costs for traders.

    As for commissions, WISEMARKET does not explicitly mention any commission charges. However, it is essential to note that some brokers may incorporate commissions into their spread or charge separate commissions for certain types of trades, such as ECN or DMA accounts. It is recommended to contact WISEMARKET's customer support or account representatives to obtain accurate information regarding any potential commissions.

    spreads-commissions

    Trading Platform

    As for trading platform, WISEMARKET provide access to a Web-based platform and mobile trading app for iOS and Android devices.

    trading-platform

    Deposit & Withdrawal

    When it comes to the minimum deposit requirement, WISEMARKET's official website does not explicitly disclose this information. In terms of payment methods, WISEMARKET appears to offer a limited selection. According to their website, they accept VISA and MasterCard as the primary payment methods for depositing and withdrawing funds. While these are widely recognized and commonly used payment options, some traders may prefer a broader range of payment alternatives such as e-wallets, bank transfers, or even cryptocurrency. Therefore, it is advisable to review the available payment options and ensure they align with your preferences and convenience before considering WISEMARKET as your broker.

    Customer Support

    WISEMARKET's customer support services seem to be limited in their scope. The primary means of communication with their support team is through email, which may not provide the immediate assistance or real-time interaction that some traders seek. The absence of online chat, frequently asked questions (FAQs), and phone support can be perceived as a drawback for traders who prefer instant responses or prefer to discuss their queries directly with a support representative.

    customer-support

    Educational Resources

    WISEMARKET does not offer educational resources at this time. Traders seeking educational materials may need to explore alternative sources or consider supplementing their trading education through external resources or courses. It's always advisable to ensure a well-rounded understanding of trading principles and strategies to make informed trading decisions.

    Conclusion

    In conlusion, WISEMARKET is an offshore forex broker registered in Saint Vincent and the Grenadines. It has been in operation for 2 years. While it offers trading services in forex, cryptocurrencies, stocks, and ETFs, there are several drawbacks to consider. The broker is not regulated, which raises concerns about the safety and security of funds. The lack of transparency regarding trading conditions, including leverage, minimum deposit, and spreads, is also a significant drawback. Additionally, the absence of educational resources and limited customer support options further diminishes the overall experience. Traders should carefully evaluate these factors and consider alternative options that provide greater regulatory oversight, transparent trading conditions, and robust support services.

    FAQs

    Q: What trading instruments are available on WISEMARKET?

    A: WISEMARKET offers a range of trading instruments, including forex, cryptocurrencies, stocks, and ETFs.

    Q: What is the minimum deposit required to open an account with WISEMARKET?

    A: The minimum deposit amount is not disclosed on the WISEMARKET website. It is recommended to contact their customer support for specific information.

    Q: What payment methods does WISEMARKET accept?

    A: WISEMARKET accepts VISA and MasterCard as the available payment methods. However, the website does not provide information about other available payment options.

    Q: Does WISEMARKET provide a demo trading account?

    A: Yes, WISEMARKET offers a demo trading account for traders to practice and familiarize themselves with the platform and trading conditions before investing real money.

    User Reviews

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    User comment

    4

    Comments

    Write a review

    Beatery
    more than one year
    WiseMarket is a fantastic trading platform with a diverse range of market instruments to suit every trader's needs. They also offer a variety of account types, making it easy for traders to find the one that best fits their trading style and goals.
    2024-07-11 18:39
    Reply
    0
    0
    Amit Shah
    more than one year
    I have been using WISEMARKET for 3 years now. I’ve always felt at home with this broker, especially with their supportive and efficient customer care service, coupled with fast withdrawals as well as deposits. Never had to look any further for another broker. 🥰🥰🥰🥰
    2024-05-17 10:29
    Reply
    0
    0
    FX1471546678
    more than one year
    Easy to use platform. Deposits were smooth and customer service was helpful. Would be nice to see more features on the platform.
    2024-03-14 17:07
    Reply
    0
    0
    mazcy
    more than one year
    As a user of WiseMarket on TradingView, I must say, the system just crashed on me... Unreliable and frustrating when you're waiting to trade!
    2024-02-28 17:09
    Reply
    0
    0
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    United States
    ※ The content of this website abides with local laws and regulations.
    You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
    consumer hotline:006531290538
    Official Email:support@wikifx.com;
    Mobile Phone Number:234 706 777 7762;61 449895363
    Telegram:+60 103342306
    Whatsapp:+852-6613 1970;
    License or other information error corrections, please send the information to:qawikifx@gmail.com
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