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TradesWiser Review | Is It a Scam or Not?

by Kevin Berry
Rating: 
  1/5   Reviews: 3
TradesWiser - logo

Recently, there has been a lot of discussion about TradesWiser, a brokerage company, but mostly for negative reasons. If you came across this review, you might be thinking about trading with them or have already had an unpleasant experience. We are here to give our honest evaluation and determine if this company is a scam or not.

Highlights

🏛️ Country UK
⚠️ Regulation
🖥️ Website https://www.tradeswiser.com/
🎲 Demo Account No
⏳ Start Time 2022
💲 Minimum Deposit $250
⚖️ Minimum and Maximum Leverage
⚙️ Trading Platform WebTrader
📨 E-mail
📞 Phone

First Impression of Tradeswiser.com

TradesWiser’s website appears to prioritize self-promotion over offering valuable information to prospective customers. The relentless stream of marketing messages and self-congratulation may disappoint experienced traders. This could imply that TradesWiser lacks confidence in its own services and overcompensates with excessive self-promotion.

TradesWiser - website

Partnership and Bonuses

TradesWiser has a partner program, but the detailed conditions are not described. Partner programs at brokers can be problematic if they are not transparent and fair, as partners risk damaging their own reputation by promoting a company that engages in unethical practices.

Account Opening on Tradeswiser.com

TradesWiser has a closed registration, and instead of a registration form, you will be directed to the contact section. This is not a good sign, as it may indicate that the broker is not interested in attracting new clients or is operating in a non-transparent manner. It also means that potential clients cannot easily access information about account opening requirements or other essential details.

Verification

Verification is mandatory at TradesWIser and can be done by uploading the necessary documents via the Client Portal or by email. Standard requirements include providing proof of identity and residential address, and in some cases, a bank statement may be needed.

Pros
  • None.
Cons
  • Inability to access the Client Portal.

Trading Software

Although we couldn’t register, we conducted a thorough analysis of user feedback to learn about TradersWiser’s trading software. Our findings revealed that the broker uses a basic WebTrader, which is a common choice among fraudulent brokers. Furthermore, we discovered that the broker does not offer a mobile or desktop app for download, and there is no option for prospective clients to test the platform with a demo account.

Features TradesWIser Clark Financial  Overton Partners Ltd
Demo Account
Mobile App
Own Development

How Can I Trade With TradesWiser?

The broker offers nothing remarkable, just typical CFD trading.

All Info About Accounts

The lack of detailed information about the trading conditions offered by the broker is a major disadvantage for traders. TradesWiser does not provide clear details on spreads or commissions, types of accounts available, or assets that can be traded. Only the minimum deposit and optional features are specified, which can be quite ridiculous. This lack of transparency makes it challenging for traders to assess the potential risks and rewards associated with trading with this broker.

Pros
  • Low minimum deposit.
Cons
  • Lack of information on trading conditions.

Market Analysis and Education With Tradeswiser.com

TradesWiser’s market analysis and educational resources are either insufficient or difficult to locate. The FAQ section only provides basic information about CFD trading and a scrolling ticker with quotes, which is not enough for traders who require comprehensive research and analysis tools. This lack of robust resources is a major drawback for traders.

Deposit, Withdrawal, and Fees

From the available information, it appears that TradesWiser allows clients to make deposits and withdrawals using credit cards and wire transfers. Unfortunately, there is no clear indication of any fees or processing times associated with these transactions.

Features TradesWiser Infinity Markets  Nexon Groups
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments
Crypto Transfers
Deposit Fee ✔️ ✔️
Withdrawal Fee ✔️ ✔️

How Can I Contact It?

TradesWiser does not provide any contact information except for its address, which is a significant drawback. Traders need to be able to contact the broker easily in case of any issues or concerns, and having multiple means of contact (such as phone, email, and live chat) is essential for efficient communication. Without such information, traders may feel uncertain about the legitimacy of the company and may be hesitant to trust it with their funds.

Pros
  • None.
Cons
  • No contacts except the address.

Is TradesWiser Dangerous?

Doesn’t it raise a red flag that a broker with such limited information is almost entirely anonymous? Let’s check out some additional details that may pique the interest of our readers.

How Long Does The Broker Work?

You may be wondering why this broker, which claims to be successful, has minimal online visibility. If you search for its name on a search engine, you’ll only find a handful of results. The explanation is straightforward: TradesWiser is a new broker. The company began operating after registering the domain on August 16, 2022. As a result, this broker is a complete newcomer to the industry.

Domain info

How Is TradesWiser Regulated?

TradesWiser states that it is a licensed and registered broker. However, it does not provide comprehensive legal information to support this claim. We conducted our own research and searched for the legal entity in the UK register, given that the broker provides a UK address. Unfortunately, our search did not yield any results for the company name or for the provided address. This suggests that the broker is making false claims about its legitimacy and does not hold a license for its services. In reality, it appears to be nothing more than an anonymous website.

Legal entity check

Features TradesWiser Tradercr Infinity Markets
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With TradesWiser?

You need to register and verify your account, deposit funds, and then start trading or investing. However, we strongly advise against using this broker as it is a known scam.

Is TradesWiser Legit?

No, it is not a legitimate broker. It claims to be licensed and registered, but we could not find any evidence of this.

How Risky Is It?

Trading with TradesWiser is extremely risky. It is a scam broker that will steal your money and disappear without a trace. We strongly recommend avoiding this broker completely.
Kevin Berry
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Expert Opinion

During my investigation of TradesWiser, I stumbled upon a juicy nugget of information. The broker’s registration details are as hidden as a needle in a haystack, which definitely sets off some alarm bells. I always preach the importance of doing your homework before entrusting your hard-earned cash to any broker, and the cloak-and-dagger routine from TradesWiser is anything but reassuring. On top of that, the dearth of educational materials and market analysis tools available to traders leaves much to be desired. All in all, I would urge traders to tread lightly and explore other, more trustworthy options. Don’t let these scammers make off with your loot!

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TradesWiser rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about TradesWiser

David March 17, 2023 - 14:24
Worst experience ever
The level of trust
Quick withdrawal of funds
Efficiency of technical support

My experience with this company was a nightmare. The broker’s trading platform was glitchy and unreliable, and their customer service was unhelpful and rude. I lost 5,000 and couldn’t even get a proper explanation from support. It’s clear to me now that they are scammers, and I wouldn’t recommend them to anyone. Stay away and find a more reputable option.

Reply
Sarah Johnson March 22, 2023 - 18:09
Yes, it’s a complete fraud
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I invested 1000 euros and regret it deeply. The broker’s promises of profit were nothing but lies, and they refused to return my investment when I tried to withdraw. Their lack of transparency and shoddy customer service only confirmed my suspicions that they were a complete fraud. Don’t fall for their tricks. They will steal your money.

Reply
Nina March 30, 2023 - 12:58
Scam broker
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I was lured in by their promises of high returns, but soon realized it was all a scam. The broker’s customer support was unresponsive and I couldn’t withdraw my funds. After months of trying, I finally gave up and lost all my money. Don’t make the same mistake. Stay away from this fraud.

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