Abstract:WTM is a trading platform registered in the United Kingdom since 1994. It is currently not regulated by any authority, as it is not authorized by the NFA. The platform's official website is currently inaccessible.
Note: WTM's official website: https://wtmfx.net/en is currently inaccessible normally.
WTM is a trading platform registered in the United Kingdom since 1994. It is currently not regulated by any authority, as it is not authorized by the NFA. The platform's official website is currently inaccessible.
National Futures Association (NFA) | |
Current Status | Unauthorized |
Regulated by | United States |
License Type | Common Financial Service License |
License No. | 0521497 |
Licensed Institution | WEALTH TRADING MARKET CO LIMITED |
WTM's regulatory status is “not authorized by the NFA,” meaning it is not regulated by any authority. The lack of regulation significantly increases the risk of trading on this platform, as it means there are no official or government safeguards and protections in place.
On WikiFX, “Exposure” refers to user reviews and feedback.
Users are advised to review other users' experiences on the WikiFX website before choosing a trading platform. The WikiFX link for WTM is: https://www.wikifx.com/en/dealer/8621893256.html
Currently, there are four exposure reports on WTM. Here are details on two of them:
Exposure 1. False promises of returns
Classification | False promises of returns |
Date | 2023-12-01 |
Post Country | Argentina |
A user reported that WTM promised investment returns. Initially, the user did receive some profits. However, the platform began demanding increasingly higher investment amounts, resulting in a loss of approximately $1,500.
Visit https://www.wikifx.com/en/comments/detail/202311303752885580.html for more details.
Exposure 2. Subsequent demands for high payments
Classification | Subsequent demands for high payments |
Date | 2023-11-04 |
Post Country | Peru |
A user reported being contacted by WTM representatives via WhatsApp and then Telegram to start investing. Similar to the first user, initial trades were successful, but the platform increasingly demanded higher investment amounts, leading to a loss of 1,150 soles.
For more details, visit: https://www.wikifx.com/en/comments/detail/202311045172801076.html
Conclusion
WTM is an unregulated trading platform with several significant drawbacks. Its lack of regulation means there is no oversight or protection for investors. Additionally, the inaccessible website further reduces transparency, and numerous negative feedbacks highlight issues such as increasing investment demands and potential fraud.
Overall, WTM is not recommended for investment trading.
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