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WSM Forex Broker provides real users with * positive reviews, 1 neutral reviews and 4 exposure review!

WSM Broker Review

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WSM Review 5

Latest All(5) Neutral(1) Exposure(4)
Neutral
Trading Pros and Cons: Competitive Spreads vs. Complex Tax Payments at WSM

WSM's trading experience has its pros and cons. On the positive side, the platform offers a decent trading environment with competitive spreads. However, the requirement to separately pay personal income tax is a significant drawback. It adds an extra layer of complexity and inconvenience to the withdrawal process. While transparency is essential, the additional tax payment step feels like an unnecessary hurdle.

FX1578056533
2023-12-27
Exposure
I just want to take my fund back.

On the afternoon pf May 28th, I deposited 125642 yuan on WSM and made the withdrawal on the night. But the service said that my bank information was wrong, asking for 120 thousand.

我想、我狠快乐っ
2020-05-31
Exposure
Scam WSM made unsolicited manipulation on clients’ accounts!

How to safeguard the right after suffering losses? Is it legit to trade gold? What to do after suffering losses on index? Do you think it is the market’s responsibility? Could the losses be taken back? How to recover the losses caused by teachers’ adverse recommendation? Is WSM,Bcm,SKAPGP,FRANKLIN, Changhongdianrong, BTcity and Tian Jing Asset Exchange legit? Reveal of WSM scam! Experience: In this November, I was pulled into a stock group and an audio platform.At first, Wang talked about Feng Shui.Xu expressed his appreciation to Wang because Wang took him to get out of poverty, profiting millions of money.Then we downloaded the APP of WSM and were asked to transfer money into 621700*****.I transferred 50000 RMB and made a little profit.Being urged to add fund, I transferred 40000 RMB on 9th.I made up to 10000 RMB or so.On the afternoon of 15th, I didn’t follow their instructions since I didn’t have sufficient fund.In the afternoon, the customer service told me to buy long of the index 50.After cocking for 2 minutes, it went sharply, leading to my account liquidated.There was only 1500 RMB left in my account.The customer service explained that was unexpected and urged me to add fund.No matter how I complained, they responded nothing.My 90000 RMB was gone within a week.

LanQ88666
2019-12-10
Exposure
Unable to withdraw in WSM

In this November, I was pulled into a stock group and an audio platform.At first, Wang talked about Feng Shui.Xu expressed his appreciation to Wang because Wang took him to get out of poverty, profiting millions of money.Then we downloaded the APP of WSM and were asked to transfer money into 621700*****.I transferred 50000 RMB and made a little profit.Being urged to add fund, I transferred 40000 RMB on 9th.I made up to 10000 RMB or so.On the afternoon of 15th, I didn’t follow their instructions since I didn’t have sufficient fund.In the afternoon, the customer service told me to buy long of the index 50.After cocking for 2 minutes, it went sharply, leading to my account liquidated.There was only 1500 RMB left in my account.The customer service explained that was unexpected and urged me to add fund.No matter how I complained, they responded nothing.My 90000 RMB was gone within a week.

LanQ88666
2019-12-04
Exposure
WSM

An another fee should be paid for the individual tax.Otherwise, the withdrawal is unavailable.

清新茉莉
2019-12-01

  

WSM 2025 Review: Everything You Need to Know

  In the ever-evolving landscape of forex trading, WSM has emerged as a notable player, albeit with a controversial reputation. This review synthesizes multiple sources to provide a comprehensive overview of WSM, highlighting both user experiences and expert opinions. Key findings indicate that while WSM offers attractive leverage and a user-friendly platform, significant concerns regarding its regulatory status and customer service persist.

  Note: It is essential to recognize that WSM operates under different entities across various jurisdictions, which may affect user experiences and regulatory protections. The following review aims to present a balanced view based on available data.

  

Rating Overview

Category Score (out of 10)
Account Conditions 4
Tools and Resources 3
Customer Service and Support 2
Trading Setup (Experience) 5
Trustworthiness 2
User Experience 3

  How We Rate Brokers: Our ratings are based on a combination of user feedback, expert analysis, and factual data regarding broker services.

  

Broker Overview

  WSM, officially known as WSM International Broker Ltd., is an online trading platform that was established in Saint Vincent and the Grenadines. The broker primarily offers forex trading services through the widely-used MetaTrader 4 platform. Traders can access a variety of asset classes, including currency pairs, indices, and commodities. However, WSM is notably unregulated, which raises concerns regarding the safety and security of client funds.

  

Detailed Breakdown

  Regulatory Status and Geographical Reach:

  WSM operates without any significant regulatory oversight, a factor that has drawn criticism from various quarters. As per multiple sources, including ForexSQ, WSM is registered offshore in Saint Vincent and the Grenadines, a region known for its lax regulatory framework. This lack of regulation poses significant risks for traders, as they may have limited recourse in the event of disputes or issues with fund withdrawals.

  Deposit and Withdrawal Methods:

  The broker allows deposits primarily in USD, with a minimum deposit requirement of $500 for its standard account. Other account types, such as the bronze, silver, and gold accounts, demand higher initial investments ranging from $2,000 to $50,000. However, WSM does not provide clear information regarding withdrawal methods or associated fees, which is a common concern among users. According to Forex Academy, users have reported difficulties in withdrawing funds, with some expressing frustration over delayed processing times.

  Bonuses and Promotions:

  WSM does not currently offer any bonuses or promotional incentives, which is a drawback compared to other brokers that provide such opportunities to attract new traders. However, clients trading over 50 lots per month may be eligible for cash-back rewards, although the specifics of these rewards remain vague and unsubstantiated.

  Asset Classes and Trading Costs:

  WSM offers access to a range of asset classes, including forex, indices, and commodities. However, the broker does not transparently disclose its spread rates or commission structures, which can lead to confusion among potential clients. According to ForexSQ, spreads are said to start from 1.2 pips for major currency pairs, but this information lacks verification due to the absence of a demo account option.

  Leverage and Trading Platforms:

  WSM offers high leverage options, up to 1:400, which can be enticing for traders looking to amplify their potential returns. However, such high leverage also increases the risk of significant losses, a point emphasized by experts in the field. The trading platform, MetaTrader 4, is a well-regarded tool among traders for its user-friendly interface and robust features, but the lack of additional trading tools or educational resources is a notable limitation.

  Restricted Regions and Customer Support:

  WSM does not accept clients from several countries, including the USA, Canada, and Hong Kong. This restriction may limit its appeal to a broader audience. Furthermore, customer service options appear limited, with only email support available. Many reviews, including those from WikiFX, highlight the lack of responsiveness from WSM's support team, which can be a significant drawback for traders requiring immediate assistance.

  

Repeated Ratings Overview

Category Score (out of 10)
Account Conditions 4
Tools and Resources 3
Customer Service and Support 2
Trading Setup (Experience) 5
Trustworthiness 2
User Experience 3

  

Detailed Ratings Breakdown

  • Account Conditions (4/10): WSM offers several account types, but the high minimum deposit requirements and lack of transparency regarding spreads hinder its appeal.
  • Tools and Resources (3/10): The absence of educational materials and poor customer service options limit the resources available for traders.
  • Customer Service and Support (2/10): Users have reported significant difficulties in reaching customer support, with many expressing dissatisfaction with response times.
  • Trading Setup (5/10): While the trading platform is robust, the lack of demo accounts and unclear trading costs detracts from the overall experience.
  • Trustworthiness (2/10): The unregulated status of WSM raises red flags, making it a potentially risky choice for traders.
  • User Experience (3/10): User feedback indicates a mix of experiences, but the overall sentiment leans towards caution due to withdrawal issues and customer support challenges.

  In conclusion, the WSM review highlights a broker that offers attractive trading features but is marred by significant concerns regarding regulation and customer service. Potential traders should exercise caution and consider these factors before engaging with WSM.

WSM review