WiseCryptoCapital operates as a CFDs Forex broker based out of London. The company first appeared on the internet in October 2022 and we appreciate the fact that a bit of transparency was practiced when they registered and decided to state clearly that the domain WiseCryptoCapital.com is owned by a person called Heena Bean.
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However, this does not validate any of their business activities as we have noted that this website is a high-risk to traders from across the globe. If you have lost money in this broker’s platform or in any other Forex and Crypto scam, here’s your chance to recover it now.
WiseCryptoCapital review and overview
Despite knowing the name of the owner of this website, the broker’s marketing material does not disclose the name of the company as well as their regulatory status as far as the FCA (UK financial regulator) is concerned.
All brokers operating in the UK and offering financial services are required to obtain authorization from the FCA.
WiseCryptoCapital does not hold such a license and is therefore not supposed to act as a custodian of traders’ funds, let alone offering a trading platform.
Despite this, we see that this broker is offering ‘managed accounts’ starting $10,000 min deposit.
The broker is allegedly offering trading signals, tutorials and daily market analysis.
Traders who choose the managed account service are likely to lose all their funds because this broker cannot be trusted.
Who are the people managing investors’ accounts and what’s their experience?
We wouldn’t trust these guys because there are so many unanswered questions. Typically, these questions arise when reviewing a broker who is not 100% honest.
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How WiseCryptoCapital.com scams traders
This is a CFDs trading platform meaning that all the trades are basically conducted in-house.
There is always a conflict of interest between your trades and what the broker wants.
For example, you can never use certain kinds of strategies. If those strategies are making money consistently, the broker will kick you out and even refuse to return your deposit. This is where money recovery services come in.
The broker’s profit is your loss and the opposite is also true. For that reason, CFDs brokers must trade against you and ensure that you don’t make money.
If this is the situation, do you think choosing their ‘managed accounts’ will make it any better?
Certainly this will be like jumping from the frying pan to the fire. The broker will deceive you at first but once they’ve gained your trust and convinced you into investing more money, that’s when they’ll steal it from the backend and leave you with financial damages.
There’s nothing unusual that this broker is offering its customers anyway.
The deposit bonuses are meant to entice you to trust them with a big investment capital.
Furthermore, this broke ris offering abnormal and illegal leverage such as 1:1000.
Again, this feature is tied to a specific type of account that requires a high deposit.
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WiseCryptoCapital is basically preying on the greed of the financially unsphisticated. They know that this leverage is tempting — it gives the illusion of a big account balance from a small deposit. The aim of this trick is to make you think that due to the high purchasing power, you can make big money quickly.
Falling into this trap is the biggest mistake that people make.
A Cryptical observation about Wise Crypto Capital broker
There are lots of negative reviews affecting the reputation of WiseCryptoCapital.com.
Traders have reported that the broker is bombarding them with several calls in a day and these calls are meant to coerce people to deposit money with the shady broker.
Their Trustpilot address says they’re from Australia but this is not reflected on their website as the official platform maintains the broker is from London.
Many people have also reported that the company is a fraud.
We don’t take these reports against Wise Crypto Capital lightly. We use them as red flags.
Wrapping it up
First of all, CFDs instruments have been banned in countries like the US due to their nature and also the fact that brokers offering them are scammers.
Somehow, brokers offering them “legally” within Europe have managed to circumvent the requirement of the regulators by fooling the authorities into believing that CFDs are completely legitimate instruments of trading.
WiseCryptoCapital does not have any licensing within their possession, meaning that the platform is a big risk to traders or victims who trust them with funds.
We urge you to avoid this shady broker at all cost as their operations are intended to defraud you.