WT Capital Review – How safe is to invest here?
Website: wt-capital.com
Address: Zurich, Switzerland
Warning: Swiss Financial Market Supervisory Authority (Switzerland)
Regulated? Unregulated
WT Capital Review – Introduction
WT Capital is an online forex and CFD broker that claims to be owned and operated by Force Media LTD. They claim that the company is registered in Switzerland. The company’s website is found at wt-capital.com, and it has an official address in Zurich, Switzerland, as well as British and Swiss phone numbers. The website of WT Capital is currently not in use, which is a major red flag against this broker. If you want to invest with WT Capital, then first read this complete WT Capital review to know more about this broker.
Is WT Capital legit or a scam?
WT Capital claims to be legitimate, but the truth does not match their claims. WT Capital received warnings from the Swiss Financial Market Supervisory Authority (FINMA). They are not regulated by any other regulator, either. Because the website’s terms and conditions say that any legal disputes can be taken to court in the Republic of Seychelles, it has also come to light that the broker is actually registered in an offshore region.
Moreover, the Swiss regulator FINMA has also placed WT Capital on its “blacklist”: “Force Media LTD/ World Trade Capital/ https://www.wt-capital.com/ may be performing prohibited activities and is not under FINMA’s supervision.”
Trading Platform
WT Capital offers their clients to trade on a web-based platform that lets them trade in forex and binary options. But this is not enough to fulfill clients’ needs because most legit brokers provide their clients with an MT4 or MT5 trading platform that is very advanced and easy to use.
Deposit and Withdrawal Methods and Fees
The deposit and withdrawal payment options are not disclosed by WT Capitals on their official website. They also hide the withdrawal fees and the minimum deposit amount, which is another red flag against this broker.
Leverage, Spreads, and Commissions
The maximum leverage offered by WT Capital is up to 1:200. In addition, the minimum trade size is 0.01 lots. They hide information about their spreads, but the average spread on EUR/USD is 4.1 pips. There is no commission provided by WT Capital.
Customer Support
WT Capitals claims that the support team is always available to provide the best solutions to the client’s queries. They can be contacted by phone at +442033185319, +41215087488, or by email at support@wt-capital.com. But all these claims and offers look good only with a legitimate broker.
Risk Warning
Margin trading is risky and might not be a good option for all traders. Before you start trading foreign exchange, you should think carefully about your financial goals, level of experience, and willingness to take risks. You should not invest funds that you cannot afford to lose because there is a chance that you could lose all or part of your investment.
WT Capital Review Conclusion
We have continually reminded the traders that dealing with forex brokers puts their money at risk. Trading with WT Capitals or any other unregulated and offshore broker is never safe. It’s better to avoid these scam brokers and deal with a legit broker. If you are a victim of the WT Capitals scam, please file a complaint on our Scam Helpers website as soon as possible for fund recovery and get a free consultation. Our expert team provides the best solution for fund recovery queries. We also provide a list of scam brokers 2023 that will help you to avoid scammers.
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