Wizer Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
Business
License
ASIC Revoked 
A woman added me on Wechat,saying that investing forex can bring about 100% profit with agent operating my account,which I was suspicious of an induced fraud.I earned a little at the beginning,making all losses later,while he continued to induce me to add fund.
In this comprehensive review of Wizer, we explore the overall performance of this forex broker, which has garnered mixed feedback from users and experts alike. Established in 2018, Wizer operates primarily through the MetaTrader 4 (MT4) platform and offers a range of trading options. However, its regulatory status and user experiences raise significant concerns that potential traders should consider.
Note: It is important to highlight that Wizer operates under different regulatory entities across regions, which can lead to varying levels of investor protection. This review aims for fairness and accuracy by analyzing diverse sources and user experiences.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 4 |
| User Experience | 3 |
How We Rate Brokers: Our ratings are based on a combination of user feedback, expert analysis, and factual data regarding the broker's services.
Wizer is a forex broker based in China, established in 2018. It primarily utilizes the MetaTrader 4 platform, which is known for its user-friendly interface and extensive customization options. Traders can access a variety of asset classes, including forex pairs, though the platform does not support cryptocurrency trading. Wizer was previously licensed by the Australian Securities and Investments Commission (ASIC), but this license has been revoked, raising concerns about its regulatory compliance.
Wizer operates in multiple regions, but its regulatory status is questionable. The broker has been flagged for exceeding the business scope regulated by ASIC, leading to a low trust score of 1.56 according to WikiFX. Traders should exercise caution and be aware that the lack of proper regulation can expose them to significant risks.
Wizer accepts deposits in various currencies, but specific details about supported cryptocurrencies are not available. The minimum deposit required to open an account is reportedly low, though exact figures vary across sources. Users should confirm the latest deposit requirements directly with the broker.
Information on bonuses and promotions for new traders is limited. While some brokers offer welcome bonuses, Wizer does not prominently feature such incentives, which could be a drawback for those seeking initial trading boosts.
Wizer primarily focuses on forex trading, offering a range of currency pairs. However, the absence of cryptocurrency trading options may deter traders interested in diversifying their portfolios with digital assets.
The cost of trading with Wizer includes spreads and potential commissions, but specific figures are not consistently reported. Users have noted that the spreads can be wider than those offered by competitors, which could impact overall profitability.
Leverage options at Wizer are not clearly defined in the available reviews. Traders should inquire directly with the broker to understand the leverage they can utilize, as this can significantly affect trading outcomes.
Wizer exclusively uses the MT4 platform, which is well-regarded in the trading community for its robust features and customization capabilities. However, the platform lacks modern security features such as two-step verification, which raises concerns about account safety.
There is no clear information regarding specific regions where Wizer is restricted from operating. However, traders should verify their local regulations to ensure compliance before opening an account.
Wizer primarily offers customer support in simplified Chinese, which may limit accessibility for non-Chinese speaking traders. User reviews indicate that response times can be slow, and the quality of support is often criticized.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 4 |
| User Experience | 3 |
Account Conditions: Users have reported that Wizer's account conditions are not competitive compared to other brokers, with limited account types and high minimum deposit requirements.
Tools and Resources: The MT4 platform offers a range of tools, but the lack of advanced trading resources, such as automated trading options, is a significant drawback for many traders.
Customer Service and Support: Customer support has received mixed reviews, with many users expressing frustration over long wait times and inadequate assistance. This is a crucial area for improvement.
Trading Setup (Experience): While the MT4 platform provides a solid trading experience, the outdated interface and lack of mobile compatibility have been noted as significant downsides.
Trustworthiness: The revocation of Wizer's ASIC license and multiple user complaints concerning potential fraud have severely impacted its trustworthiness, warranting caution from potential investors.
User Experience: Overall user experience has been hampered by slow customer service, a lack of modern security features, and regulatory concerns, leading to a generally negative perception of the broker.
In conclusion, while Wizer presents some appealing features, such as the use of the popular MT4 platform, significant concerns regarding its regulatory status and customer support quality cannot be overlooked. Traders should conduct thorough research and consider these factors before deciding to engage with Wizer.
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