Wontobel Review: Why Wontobel.com is a Scam broker

Wontobel is a Forex and CFDs broker claiming to operate from Germany. Wontobel.com started business in January 2022 but proclaiming 40 years of operational experience. Due to their lack of authority in the Forex brokerage industry, we can’t recommend signing up or using their services with our best trading systems.

Still discussing their alleged 40 years of experience — the question is where did they acquire this experience when their website (Wontobel.com) is less than 3 months old? No sign of their presence anywhere on the internet prior to the official start date that is declared by who.is.

The broker further claims that they are operating in 5 offices across 140 countries and have also won 15 global awards of excellence. These marketing declaration don’t seem to be accurate as we’ve just discovered that Wontobel is very new to this market, and is probably lying to its clients.

Wontobel Review: Overview of the company’s trading products

They obviously provide trading on a number of financial instruments which include Forex, Stocks, Indices, Cryptocurrencies and Commodity.

The Wontobel website states that 300+ trading instruments may be accessible on their platform.

This variety of trading instruments does not mean you’ll make money with this broker, and it certainly does not mean that the broker will provide a good trading environment.

As a professional trader, you can only thrive on a true ECN environment and of course cost of trading is also an important factor.

These two invaluable benefits are truly hard to find, not just on this broker’s plaform but also on Trader House and DCACriptofinance which are two scams I wanted you to avoid.

Wontobel Accout Types, Minimum Deposit, Spreads and Leverage

Wontobel account types are divided into fixed and raw spreads with minimumd deposit starting at $100.

Spreads on their Fixed spread account type start at 1.5 pips while raw spread is at its lowest 0.1 pips.

Surprisingly, this broker is also charging commission of $4 per lot on top of their 0.1 pips fee on their raw spread account.

In general, Wontobel is an expensive broker to trade with since the best brokers that we’ve traded with usually charge less than 1.3 on major pairs like EURUSD.

Affordability is a major concern when it comes to choosing a Forex and CFDs broker.

The broker does not talk about leverage but is keen on inviting traders to their VIP account type where an account manager is involved. This VIP account allegedly has better spreads and market analytics.

Wontobel Asset Management

They also want to trade for their clients under their asset management program. They claim to be qualified in this area and that they will generate consistent profits for clients who choose this product.

Is this broker even regulated?

Since they are operating out of Germany (or at least this is the claim), we expected them to disclose their licensing status with the local financial regulator, BaFin.

This regulatory information is nowhere to be found on their website. So it means this broker is not licensed.

What to do if scammed by Wontobel

Since they are not licensed and are very new to the market, there is a 100% chance that the broker is just a scam.

They will frustrate your efforts to withdraw your money, and at this point you will lose your money.

We recommend avoiding the broker at all cost but if you find yourself in the unfortunate situation of a loss, then you can simply fill out the form above or engage a professional on the live chat to see whether you can recover what is lost.

The Conclusion

Wontobel does not look like a reliable stable Forex broker. Their experience is a lie and they seem to be very expensive to trade with.

We advice the trading community to avoid a broker like this one at all cost. If you wish to find professional trading systems and investment products that can help you make money, visit his page.