WiseTrader Scam Test

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WiseTrader Review

This Broker is Out of Business!

WiseTrader was a CySEC licensed CFD & Forex broker which opened in October 2020, and is now closed.

Complaints and withdrawal problems with this broker should read this.

WiseTrader Review

WiseTrader gives their investors a trading platform for CFD and Forex trading called TraderSoft. Available for trading are hundreds of underlying assets from Forex, Stocks, Commodities and Market Indices. Standard leverage on Forex pairs like EUR/USD is 200:1, and the spread is 3 pips.

Like many Forex broker, they also have Crypto Currency CFD trading available. The spreads on BTCUSD are pretty wide at $200.

Right now, Wise Trader is only offering their web based desktop trading platform, and will soon hopefully release mobile apps and MetaTrader 5. Their minimum deposit for a new trading account starts at $250, and their website is localized into English and Japanese.

WiseTrader Forex Trading Platforms

WiseTrader License & Regulation

What we look for when we review CFD or Forex brokers to determine if they are a legit broker or a scam broker is very simple. Are the licensed and regulated by a competent government financial regulator like CySEC in Europe or the F.C.A. in United Kingdom. Trading with a licensed broker ensures you will not have issues withdrawing your investment, read more.

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WiseTrader is licensed and regulated by CySEC in Europe, with license number 267/15.

When choosing a new Forex broker, it is very important to verify that they are in fact licensed for investors from your country of residence.

Compare WiseTrader

The best forex broker is a very general statement, because each investor has their own needs and requirements from their broker. However, a smart investor will always have their main broker, and another broker as a backup. You can see our list of most popular brokers.

ForTrade is a very popular Forex broker, regulated both in Australia and England by the FCA and ASIC, see here.

Register your Free Trading Account at: ForTrade.com.

What was your experience like investing with WiseTrader? Please leave your review in the comments below.

WiseTrader Review: is Wise Trader a Scam or Legit Broker?

WiseTrader is a Forex and CFD broker owned and operated F1 Markets Ltd, with an address at 1, Ayias Zonis & Thessalonikis Street, Nicolaou Pentadromos Center, Office 908 A & B, 9th Floor, CY-3302 Limassol.

Wise Trader Trading Platform

Trading platforms are the interface where the trading on assets such as commodities, currencies, stocks or indices are done. A good trading platform should have charting tools and indicators, it should also be easy to use and very fast in executing trades. WiseTrader broker uses the Tradologic platform, it has a huge range of assets to trade on.

Withdrawal and Deposit Method

WiseTrader withdrawal and deposit methods could be carried out by the following means: Visa, Bank Wire transfer, MasterCard, Neteller, Skrill, cashU. Web Trader minimum deposit is $250.

License and Regulation

Wise Trader is a licensed broker. They are regulated by the CySEC, with license number: 267/15

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Wise Trader


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Broker Wise Trader
Official Website URL www.WiseTrader.com
Headquarters 43 Kolonakiou Avenue, CY-4103 Agios Athanasios, Limassol, Cyprus
Support Number +357 25 123326
Support Types Live Chat, Phone, Contact Form, E-mail
Minimum 1st Deposit $250
Payout 85%
Free Demo Account Open FREE Demo
Account Types Basic, Silver, Gold, Platinum, Rhodium
Deposit & Withdrawal Methods VISA, MasterCard, Maestro, Diners Club, Qiwi, Neteller, Skrill Moneybookers, Yandex, Web Money, Cash U
Account Currency USD
Overall Score 8.7/10

Full Review

Launched just a couple of months ago, Wise Trader is a new player in the forex trading arena. They are owned by F1Markets Ltd which is based in Cyprus.

Since the brokerage is relatively new, not much is written about them on the internet. Very few reviews are available which makes it difficult to determine whether they are a legit option or not. To find out the details about this broker, we had to conduct our own research. Based on what we have found after digging deep into this broker, we have compiled a comprehensive review.

Review Verdict: Wise Trader is Not a Scam
Visit Wise Trader Official Website

Read on to learn more about WiseTrader and whether they are a viable option for trading or not.

How to use Wise Trader to Execute Financial Orders?

As an investor with WiseTrader, you have the option to make use of their platform and trade forex and CFDs. There are hundreds of assets available for trading including stocks, indices, forex and commodities.

The platform is expected to introduce cryptocurrency trading in the new future, but for now traders can enjoy hassle-free and easy investments on forex.

Wise Trader’s platform is packed with innovative and intuitive features that make the investment process simple. To begin, traders can choose an asset and determine the direction of movement of the price. By studying the patterns in the market and trading history of the chosen assets, traders can make wise trading decisions and enhance their returns on investments.

Steps To Setting Up an Account

An account at WiseTrader can be set up by following few simple steps. Here’s what the procedure entails:

  • Register – complete the quick sign up form available on the website
  • Add a Deposit – with a minimum deposit of $250, it is possible to invest in the real financial markets.
  • Trade – hundreds of underlying assets are available to choose from. The payouts vary and depends on the leverage ratios.

Is WiseTrader a Fair Trading Partner?

Wise Trader is a CySEC regulated broker. This means that they are under an obligation to adhere to the laws and guidelines that are set out by this financial regulatory authority. Furthermore, WiseTrader is authorized to offer its services to the clients residing in the EU.

When a broker is licensed, they have to meet several requirements to be able to operate legitimately. They are also required to keep their clients’ funds in segregated accounts. Those who sign up with Wise Trader can invest with peace of mind because even if the company becomes insolvent, their funds will be protected.

Although Wise Trader is a new broker, they have established themselves as a reputable service provider. They have also received many positive reviews from their users. They are a good broker, even for those clients who reside in the USA.

Overall, we are quite happy with the brokerage and we are certain that if you choose them as your trading partner, you will not regret your decision.

Minimum Deposit Required

Wise Trader makes it effortless for investors to get started with their trading platform. They require a minimum deposit of $250. Methods of payment include major credit and debit cards, Qiwi, bank wire transfer, Skrill and Neteller. The minimum amount needed to make a withdrawal is $100.

Account Types & Bonuses

To make the most out of your trading experience, you can choose from 6 types of accounts. Here is a look at the account tiers and their minimum deposit requirement.

  • Basic – $250
  • Bronze – $1000
  • Silver – $2500
  • Gold – $10,000
  • Platinum $25,000
  • Rhodium – $30,000

Each of these accounts vary in terms of bonuses and perks. Basically, the benefits increase with higher account tiers.

Trading Platform

Just like many other reliable forex trading brokers, WiseTrader also operates on the popular MetaTrader 4 platform. The trading platform is web-based, but it also has a mobile version to facilitate trading while traders are on the move.

Review Verdict: Wise Trader is Not a Scam
Visit Wise Trader Official Website

MT4 is regarded as a powerful and user-friendly trading platform. The interface is easy to use and it also incorporates a wide selection of technical indicators and expert advisors. Another good thing about MT4 is that it allows for back-testing. Expert advisors are useful because they help during the trading process.

Customer Service

Customer care is of utmost importance for the broker and this is the reason they are committed to ensuring that traders get access to constant support throughout the normal trading hours.

Traders can reach the very friendly and professional customer care representatives via email and live chat.

Final Words

WiseTrader is a decent forex and CFD broker. They offer reasonable conditions and a secure trading environment. Their promotions and bonuses are also very attractive. The fact that WiseTrader is a regulated broker takes the worry out of investing with them. Overall, they are perfect for both experienced and inexperienced traders.

BONUS: Get Risk Level Control Feature to set and minimize the risk of losing funds.

Best Binary Options Brokers 2020:

    Best Binary Options Broker 2020!
    Ideal for beginners!
    Free Demo Account + Free Trading Education!
    Get a Sign-up Bonus:


    2nd place in the ranking!

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