WiseWealth.ai Review – Fake Provider Of Brokerage Services

Under the excuse of providing global trading opportunities to retail and institutional investors, this platform gives itself the right to deceive and rob its customers. Integrity, professionalism, innovation and other values mentioned are all false claims made in order to appear legitimate and serious. In addition, what else undermines the meaning of these statements is the fact that the platform is blacklisted multiple times in various jurisdictions. 

Since authorities have confirmed fraudulent intentions displayed by this firm, it’s our duty to warn our audience and expose the criminals further in this WiseWealth.ai review. 

Regulators Say Scam

Although there’s no corporate information or any clues about the firm operating the website, FMA, that has blacklisted this entity says they claim to operate from the UK. As two other regulators – CONSOB and CNMV have confirmed, the company is not licensed for promoting and selling online financial services.

Needless to say that the illicit entity could be not registered at all and simply running a shady website that promotes institutional and retail brokerage services.

That implies that the fund safety is not ensured through segregated bank accounts and customers do not have access to the compensation plans. If you invest here, you can expect sudden fees and unfair treatment, similarly to what Firedexen displays.  

Bad Ratings Piling Up

It seems that at one point this self-proclaimed brokerage tried to boost their reputation by hiring review seller networks. They couldn’t keep up with the fakes as the scope of their fraud grew out of proportion. We can see this clearly on the TrustPilot review platform.

As of late, 47% of all clients have given the company the lowest possible rating. Most of them complain that these cybercriminals succeeded at not only stealing the deposited funds, but compromising the data and privacy of their victims’ computers.

We will discuss more about fraudulent strategies and recovery options later in our WiseWealth.ai review.

Cybercriminals At Work

The wisewealth.ai site did not exist prior to August 2023. These nations are the main targets for the scheme:

• United Kingdom
• Canada
• Germany
• Belgium

In a scenario similar to the Veptex scheme, this company uses boiler room agents to seek out new targets by phone. Their main tool is pressure, and they are even known to resort to threats if the mark doesn’t want to deposit.

It’s evident that the schemers use AnyDesk software to gain access to their victims’ computers, and unlawfully extract sensitive data such as credit card information.

Recovering the lost money is possible, but time is of the essence. You may contact our legal experts at any time through the live chat to start your chargeback as soon as possible.

Allegedly Affordable And Flexible Costs

At first, the company web presentation seems as if it’s detailed and thorough enough. However, you don’t get concrete information on leverage, spreads and commission. 

From what we see inside the platform, the default starting leverage is 1:10 and that’s it. Other costs mentioned are 0.40% management fees and 0.35% administration fees. What they apply to and how they’re charged is a mystery.

Referral Rewards

After signing up for this trading portal, you get assigned a unique referral link. By sharing it and getting others to join by clicking on it, both parties get rewards. When your referral makes their first deposit, you’re both rewarded with “100% Bonus USD Credit”. The platform owners do not exactly explain what that is and how it’s supposed to be cashed in. 

Inferior Trading Tools And Features

It quickly becomes apparent when a Forex dealer doesn’t have much to offer. From empty promises of the MT4 web platform, you end up with an unresponsive web terminal. Furthermore, no specialized account types exist and no option for Demo testing is given. 

Simplistic Web Trader

Attempting to make money on this trading portal is a completely futile project. The barely functional trading terminal was supposed to be resembling the prestigious MT4, but it is basically unresponsive. 

Often found on unscrupulous brokerage websites, these distributions are meant to be manipulated in a way that makes traders believe they’re earning. In reality, no profit is actually being accumulated at all, considering that the entire trading process is artificial and heavily controlled. 

Built-In Instruments

Since it’s not our first time dealing with this bogus software, we could immediately tell that these financial products are those that always come with this distribution:

• Stocks (3M, Alibaba, Nvidia, Netflix, Caterpillar)
• Crypto (BTC, ETC, LTC, BNB, ADA, DOT)
• Currencies (EUR/USD, EUR/JPY, USD/PLN)
• Commodities (Coffee, Sugar, Wheat, Soybean)
• Indices (Nasdaq, Dow Jones, DAX, Ibex)

Missing Account Information

Anybody can create a trading account, but nobody can tell you what this WiseWealth.ai account encompasses. There are no different account types, and the main WiseWealth.ai login doesn’t allow the creation of sub-accounts.

So, the clients are stuck with an account they can barely use thanks to the horrible trading application, with no options for investment diversification or risk mitigation.

Shady Transactions

Legal documents aren’t located anywhere on the site, so they cannot help you much when it comes to understanding the transfers, methods and fees. The withdrawal panel allegedly allows you to perform payouts to your credit cards, but even that is not certain. 

Besides the mandatory 0.75% fee, other expenses are not revealed, and you can expect unpleasant surprises like sudden charges and trading volume requirements. That is one of the major reasons why you should look for an honest and transparent Forex brand.

Can’t Connect To Support

Customer support can only be described as non-existent. There is no live chat, nor are there any messaging services listed. The provided phone number doesn’t work either, so clients are stuck with using the contact form, or email. Nobody responds to these mail messages, so if you’re in a bind, well, tough luck.

Got Scammed? We Offer Solution!

Since investing with this faux type of brokerage house is proven to be unwise, you should better look for a more profitable solution. Risky online trading world could quickly prove to be more costly than you originally anticipated. 

However, even in such situations, a solution could be found. And our legal experts and chargeback professionals have it! Contact us for more information.

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