Welcome to our comprehensive review of WeFinancial, a broker that claims to offer trading with the elite. It’s intriguing how they place themselves among the elite, but we will delve into the details in our review to see if they live up to their own self-proclaimed status. Additionally, we will investigate whether this company exhibits any signs of being involved in scam activities. Stay tuned as we provide you with an unbiased assessment.
Table of Contents
Highlights
| 🏛️ Country | Saint Vincent and The Grenadines |
| ⚠️ Regulation | — |
| 🖥️ Website | https://wefinancial.io/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | $250 |
| ⚖️ Minimum and Maximum Leverage | 1:200-1:400 |
| ⚙️ Trading Platform | WebTrader |
| support@wefinancial.io | |
| 📞 Phone | — |
First Impression of Wefinancial.io
WeFinancial has certainly made an effort to stand out. We haven’t come across such an unconventional website design in quite some time. However, despite spending considerable time exploring its pages, we couldn’t shake the feeling that everything here was a bit too much. The video was overly grandiose. The font size was too large, the menu elements were disproportionately big, and there was an excess of self-praise throughout. Moreover, finding essential information, such as legal details, required persistent and thorough searching, which significantly diminished our opinion of the website.
Partnership and Bonuses
On the broker’s website, we couldn’t find any information about a partnership program. Similarly, there was a lack of details regarding bonuses. However, in separate documents, the bonus policy was highlighted. It stated that WeFinancial may offer bonuses to specific clients. Therefore, for further clarification, it would be advisable to reach out to the project managers. Although it seems rather unnecessary for such information to be hidden. If bonuses are available, why not openly advertise them?
Account Opening on Wefinancial.io
The registration process on the broker’s website is relatively simple. You only need to fill out a form with your personal information. WeFinancial doesn’t even verify the email or phone number. However, this lack of verification can be concerning. Email and phone verification are standard security measures that help ensure the authenticity of user accounts and prevent unauthorized access.
At WeFinancial, the client portal is combined with the trading terminal, which may not be the most convenient setup for traders. Having the client portal integrated with the trading terminal means that traders need to navigate between different sections and screens to access account information, deposit, or withdraw funds, and perform other administrative tasks. This can be time-consuming and may interrupt the trading experience.
Additionally, combining the client portal with the trading terminal can lead to a cluttered and complex user interface, especially for new or less experienced traders. It may be more user-friendly and efficient to have a separate and dedicated client portal where traders can easily manage their accounts, access statements, and perform administrative functions without the distractions of the trading interface.
Verification
WeFinancial requires traders to undergo a verification process by submitting documents to verify their identity and address. This typically includes proof of identity, proof of address, and sometimes proof of payment. Traders need to upload these documents through their personal account or via email to the broker’s verification team.
- The verification is mandatory.
- The exact time frame for document verification is not specified.
Trading Software
The platform provided by WeFinancial has some limitations that may affect the trading experience. Firstly, there is no option for a demo account, which can be a drawback for traders who prefer to test strategies or acquaint themselves with the platform before investing real money.
Furthermore, it is worth noting that WeFinancial does not offer a dedicated desktop version or a mobile application. This means that traders are solely reliant on accessing the platform through a web browser, which may not provide the same level of functionality and convenience as a dedicated desktop or mobile app.
Additionally, it should be mentioned that the functionality of the WeFinancial platform is relatively limited. While it provides essential trading features such as order placement, charting tools, and account management, it lacks more advanced features and tools that are commonly offered by other brokers.
| Features | WeFinancial | Clark Financial | GoldBerryCo |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ❌ |
| Mobile App | ❌ | ❌ | ❌ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With WeFinancial?
Let’s take a look at how elite trading differs from the ordinary at WeFinancial. Perhaps the broker will manage to surprise us?
All Info About Accounts
WeFinancial offers a total of 6 account types, although we won’t consider the sixth one as it is a VIP account accessible only by invitation. The remaining types have interesting names: Trial, Secondary Income, Managed Portfolio, Retirement, and Heritage. You can start with just $250 in the Trial account. In this account type, traders have access to flexible leverage up to 1:200 and one webinar and arbitrage trade. Well, it’s not much, but that’s not the most disappointing part. The next account requires a deposit of $10,000, and you’ll get the exact same set of features. We’re not sure what the catch is here; perhaps WeFinancial made a mistake when filling out their website. The stakes only start to rise in the next account type. Here, you’ll receive a leverage of 1:300 and permission for two arbitrage trades. However, you’ll need to deposit $50,000. It seems that the number of useless services grows slower than the deposit requirements.
Overall, the account offerings at WeFinancial may not live up to the expectations of elite trading.
- Low minimum deposit.
- Useless additional services.
Market Analysis and Education With Wefinancial.io
WeFinancial offers educational resources and analytics to its clients. However, in lower-tier accounts, these services are more generalized. On the higher-tier accounts, specialized experts are assigned to work with clients individually, providing personalized training and daily trading advice. It remains unclear why these services would be necessary for a trader who can afford to deposit $250,000. Additionally, it’s worth noting that none of the team members are presented on the broker’s website, as everything remains completely anonymous.
Deposit, Withdrawal, and Fees
The deposit options provided by WeFinancial are quite intriguing. According to the broker’s FAQ section, they offer convenient methods such as bank cards, bank transfers, and e-payment options. To withdraw funds, clients can use the same methods. It is worth noting that the minimum withdrawal amount is $100. However, what raises curiosity is the presence of Bitcoin, Ethereum, and Litecoin icons in the website footer. Are they purely decorative or is there a deeper significance to them?
| Features | WeFinancial | Golden Currencies | Signet Capital |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ✔️ | ❌ | ✔️ |
| Crypto Transfers | ❌ | ✔️ | ✔️ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ❌ | ❌ |
How Can I Contact It?
The broker only provides an email address as their contact information, without any physical address listed. This lack of transparency raises concerns about the broker’s credibility and accountability. Having a physical address adds legitimacy to a financial institution and allows clients to verify its location and jurisdiction. It also provides a means of recourse in case of any disputes or issues. Without a physical address, clients may find it difficult to reach the company or seek legal action if necessary.
- There is an email.
- Contacts are limited.
Is WeFinancial Dangerous?
We have started to harbor doubts about dealing with this broker. There are just a few key aspects left for us to examine before reaching our verdict.
How Long Does The Broker Work?
In the “About Us” section, WeFinancial fails to mention the duration of its operation. Instead, it presents vague statements about its mission and so on. As a result, we conducted our own investigation. According to the Whois service, the broker’s domain was registered on June 1, 2023. It is puzzling how they could have become an “elite broker” in such a short period of time.
How Is WeFinancial Regulated?
Reliable regulation is crucial for establishing trust between a broker and a trader. However, this company completely disregards this principle. Not only is it challenging to find any legal information on their website, but they also provide fake details. For instance, their user agreement states that all questions and disputes with clients will be resolved in the jurisdiction of St. Vincent and the Grenadines. Interestingly, the name of this country is consistently written with lowercase letters in their documents. Leaving aside the grammatical oversight of WeFinancial’s creators, let’s move on to the registry itself. Can you guess whom we didn’t find there? That’s right, such a company is not listed in the registry of that offshore jurisdiction at all.
| Features | WeFinancial | NPBFX | Fusion Markets |
|---|---|---|---|
| European Zone | ❌ | ❌ | ✔️ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ✔️ | ❌ |
| Offshore | ❌ | ❌ | ✔️ |
Frequently Asked Questions (FAQ)
Kevin Berry Well, let me tell you something intriguing about this broker that caught my expert eye. It turns out that WeFinancial is not shy when it comes to ordering positive reviews about itself. Yes, you heard it right, they actually pay for them. What’s even more amusing is that many of these so-called “reviewers” don’t bother to read the trading conditions carefully and end up spewing nonsense. Talk about a lack of effort! But wait, it gets even funnier. WeFinancial takes it a step further and posts some reviews from traders on its own website. Seriously, who does that these days? It’s like writing your own fan mail.
You see, spotting these kinds of shenanigans is what separates us experts from the rest. We delve into the fine print, dissect the numbers, and sniff out the facts. So, if you’re looking for reliable information, steer clear of the staged praises and dubious testimonials.
WeFinancial rating
3 reviews about WeFinancial
Scam trading platform targeting innocent Australians. We lost our entire investment of over 100k with no hope of getting it back. They build your trade account up over a few weeks then overnight wipe it out claiming a trade went bad! The trade did not go bad but that’s what they tell you then ask you to deposit more money to ‘recover’ your loss!! WTF! Very sophisticated scam stealing thousands from innocent investors.
Don’t do it. Report it to your bank immediately so you can recover your money. Unfortunately for us it was too late.
In a moment of weakness I was persuaded to invest USD250 into a WeFinancial account. On reflection I tried to withdraw the funds & close the account. Impossible ! No emails are responded too & the phone number doesn’t work or more likely I have been blocked. Don’t touch them or you’ll find out the same thing & loose your money. They are the scum of society ! Be warned !
I gave this person $2,000 to get started, but little did I know, I would end up sending them a total of $22,000. When I tried to retrieve my money, they told me it would take eight months. As time passed, this individual’s behavior became increasingly aggressive. They started calling me unsolicited, demanding more money, and even resorting to name-calling and bullying.
In an attempt to protect myself, I blocked them, but they proved to be quite persistent. They kept changing their online identities, using different websites, names, and phone numbers. I reported this person to WhatsApp and Zelle to alert them to the fraudulent activity.
Now, they are requesting that I open a Cash App account for them, but I’ve learned my lesson. This person is unrelenting, and I want others to be aware of their tactics. I don’t want anyone else to go through what I experienced before I sought help from Tracingia LLC, where I initiated the process of repatriating my capital. It’s essential to be cautious when dealing with anyone online to avoid falling victim to scams like this.