WAM-Capital Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
Business
License
Been using them for a year now until the last two months and they were my go-to for investment platforms. They initially caught my attention as they were offering very attractive trading conditions. But now I do have many complaints to make about them, customer service has been slow, my withdrawal is also too slow...
Wam Capital has garnered significant attention in the online trading community, but the consensus among experts and user reviews leans heavily towards caution. The broker is often described as unregulated and potentially fraudulent, with numerous red flags indicating that investors should be wary. Key findings suggest that Wam Capital lacks proper licensing, offers high leverage, and presents a concerning withdrawal process.
Note: It is essential to recognize that Wam Capital appears to operate under multiple entities across different jurisdictions, which adds complexity to its legitimacy. This review aims to provide a balanced perspective based on various sources to ensure fairness and accuracy.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service & Support | 5 |
| Trading Settings | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
How We Rated the Broker: Our ratings are based on a comprehensive analysis of user experiences, expert opinions, and factual data from various reviews.
Founded in 2020, Wam Capital presents itself as an online trading platform that claims to offer a wide range of financial instruments, including forex, stocks, and cryptocurrencies. The broker claims to operate on the MetaTrader 4 platform, which is widely recognized in the trading community. However, there are serious concerns regarding its regulatory status, as it falsely claims to be licensed by the Australian Securities and Investments Commission (ASIC), a claim that has been debunked by multiple sources.
Wam Capital is purportedly based in Australia, but there is no verifiable information confirming its registration or regulation by ASIC. Multiple reviews, including those from Valforex and Tokenhell, indicate that the broker is unregulated and has been flagged by various financial authorities for fraudulent activities. This lack of regulation raises significant concerns about the safety of funds for potential investors.
Wam Capital accepts deposits via credit and debit cards, as well as wire transfers. The minimum deposit requirement is set at €250, which is higher than many regulated brokers. Withdrawal requests are reportedly met with delays, and users have reported difficulties in retrieving their funds, a common issue with unregulated brokers. According to Personal Reviews, the withdrawal process can take months, and there are often excessive fees involved.
The broker claims to offer a variety of trading instruments, including forex pairs, stocks, commodities, and cryptocurrencies. However, the lack of transparency regarding the specific assets available for trading raises concerns. Many reviews suggest that the broker may not provide the breadth of options it advertises.
Wam Capital's trading conditions include spreads starting from 1 pip and leverage up to 1:500, which is significantly higher than the limits imposed by regulated brokers in Europe. While high leverage can attract traders, it also increases the risk of significant losses. Furthermore, the absence of clear information regarding fees and commissions adds to the uncertainty surrounding the broker's cost structure.
Wam Capital exclusively offers the MetaTrader 4 platform, which is a standard choice among brokers. However, many reviews express disappointment that the broker does not provide access to the more advanced MetaTrader 5 platform. The trading interface is described as user-friendly, but the overall trading experience is marred by concerns about the broker's legitimacy.
There is limited information regarding the specific regions where Wam Capital operates. However, the broker's unregulated status suggests that it may accept clients from various jurisdictions, including those where trading with unregulated brokers is prohibited.
Wam Capital claims to offer customer support in multiple languages, including English, Italian, and Spanish. However, user reviews indicate that the responsiveness and quality of customer support can vary significantly, with some users reporting long wait times for assistance.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service & Support | 5 |
| Trading Settings | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
In conclusion, the Wam Capital review indicates that potential investors should approach this broker with caution. The numerous red flags surrounding its regulatory status, withdrawal processes, and overall transparency suggest that it may not be a safe choice for trading.
FX Broker Capital Trading Markets Review
