WrPro Forex Broker provides real users with 1 positive reviews, * neutral reviews and 1 exposure review!
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Very bad
Amazing customer service, especially for active traders. This kind of service is hard to find. 👍👍👍👍👍
WRC1, also known as World Capital 1, has emerged as a new player in the forex trading landscape since its establishment in June 2023. While it offers a range of trading options and a user-friendly platform, the broker has faced scrutiny regarding its regulatory status and user experiences. Overall, reviews are mixed, with some users praising its services while others raise concerns about transparency and withdrawal issues.
Note: It is crucial to recognize that WRC1 operates under various entities across different regions, which may affect user experiences and regulatory oversight. Therefore, conducting thorough research is essential before engaging with this broker.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6.5 |
| Tools and Resources | 7.0 |
| Customer Service and Support | 6.0 |
| Trading Setup (Experience) | 7.5 |
| Trustworthiness | 5.0 |
| User Experience | 6.5 |
| Additional Features | 6.0 |
We rate brokers based on a combination of user reviews, expert opinions, and factual data regarding their services and offerings.
WRC1 is headquartered in Mauritius and is regulated by the Mauritius Financial Services Commission (FSC) under license number GB22201139. The broker offers a proprietary trading platform alongside the popular MT5, providing access to a variety of asset classes, including over 35 forex pairs, commodities, indices, and cryptocurrencies. The minimum deposit to open a live account is reported to be $500, which may be a barrier for some potential traders.
WRC1 is primarily regulated in Mauritius, which has received criticism for its relatively lax regulatory environment compared to more established jurisdictions. As a result, the broker's trustworthiness has been questioned, leading to a mixed perception among users.
WRC1 supports multiple deposit methods, including bank transfers and credit cards. However, the exact details about withdrawal processes have raised concerns among users, with some reporting difficulties in retrieving their funds. Users have highlighted that the company often imposes hidden fees, such as a 3% deposit fee and other handling charges that are not transparently disclosed.
The minimum deposit requirement is set at $500, which aligns with many brokers in the industry. However, this amount may deter novice traders or those looking to test the waters with smaller investments.
Currently, WRC1 does not appear to offer traditional bonuses or promotions. Instead, it has implemented a cashback system, which rewards traders with a small amount per lot traded. The specifics of this cashback mechanism remain vague, leaving users unsure about how to maximize these rewards.
WRC1 provides a diverse range of tradable assets, including forex, cryptocurrencies, commodities, and stocks. This variety allows traders to diversify their portfolios, although the actual number of available instruments may be overstated, with some sources suggesting that the total could be as high as 300.
The broker offers competitive spreads starting from 0.6 pips for VIP accounts. However, users have reported hidden fees and unclear cost structures, which could impact overall trading profitability.
WRC1 offers leverage of up to 1:500, which can amplify both potential profits and losses. While this high leverage can be attractive to experienced traders, it also poses significant risks, particularly for novice investors.
The primary trading platform offered is a proprietary web-based application, along with the MT5 platform. The proprietary platform has received mixed reviews, with some users finding it user-friendly while others prefer the familiarity of established platforms like MT5.
WRC1 has a list of prohibited countries, which may include regions where regulatory compliance is challenging. It is advisable for potential users to check their eligibility before attempting to register.
Customer support is reportedly available in multiple languages, although the quality and responsiveness of this support have been questioned by some users. Reports of slow response times and inadequate assistance have contributed to a lower rating in this category.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6.5 |
| Tools and Resources | 7.0 |
| Customer Service and Support | 6.0 |
| Trading Setup (Experience) | 7.5 |
| Trustworthiness | 5.0 |
| User Experience | 6.5 |
| Additional Features | 6.0 |
WRC1 offers a straightforward account setup process, but the minimum deposit requirement may be a hurdle for some traders. The lack of a free demo account further complicates the decision-making process for potential users.
The broker provides a variety of educational resources, including webinars and articles. However, many users find the quality lacking, with only basic information available without a funded account.
Customer service has received mixed reviews, with many users reporting slow responses and inadequate support. This inconsistency can be frustrating for traders seeking timely assistance.
The trading experience on WRC1's platform is generally positive, with users appreciating the intuitive design. However, the proprietary platform lacks some advanced features that experienced traders may desire.
The regulatory status of WRC1 has raised concerns regarding its trustworthiness. Users have reported issues with withdrawals, leading to skepticism about the broker's legitimacy.
Overall user experiences vary significantly, with some praising the platform's user-friendliness while others highlight serious issues with fund withdrawals and transparency.
WRC1 offers a cashback program, but the specifics are unclear. This lack of transparency can lead to confusion among users regarding how to benefit from such promotions.
In conclusion, while WRC1 presents itself as a viable option for beginner and intermediate traders, its regulatory status and user experiences warrant caution. Prospective users should conduct thorough research and consider their risk tolerance before engaging with this broker.
