275 million in trading capital, over 100 employees, services in 100 countries, 8 liquidity providers and 3 offices – impressive statistics, isn’t it? These numbers are presented to us by the brokerage company Weinsteincorp, which specializes in margin CFD trading. It is a Swiss organization that has been operating without licenses since 2013. Yet, there aren’t many reviews online, which is strange for a broker with a decade of experience. In this review, we will determine whether these figures are indeed accurate and if we can trust the firm, or if we’re dealing with a classic scam.
Table of Contents
Highlights
| 🏛️ Country | Switzerland |
| ⚠️ Regulation | – |
| 🖥️ Website | https://www.weinsteincorp.com/, https://weinsteincorp.biz/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | $5,000 |
| ⚖️ Minimum and Maximum Leverage | 1:100-1:300 |
| ⚙️ Trading Platform | WebTrader |
| support@weinsteincorp.com | |
| 📞 Phone | – |
First Impression of Weinsteincorp.biz
The way the official website of the broker looks is unsurprising to us, as it is a typical brokerage resource that resembles many other websites. At the top, you can find sections dedicated to the platform, account types, additional services, company activities, contacts, and legal documents. The site is filled with clichéd phrases and pseudo-advantages. Thus, the firm hasn’t brought anything new or unique.
The website interface is only in English. There are hardly any graphic elements, except for an unclear tree in the background of the main page. Despite the extensive listing of impressive facts, Weinsteincorp cannot prove any of them. Registration documents, financial statements, and other evidence are absent. In general, it’s a classic website for a CFD broker, where there are many advantages, merits, and other self-praises, but there’s no evidence at all.
Partnership and Bonuses
Weinsteincorp offers all traders a bonus on deposit top-up, ranging from 30% and above, depending on the chosen account type. However, there are no conditions mentioned regarding the bonus policy. It’s important to understand that bonus funds aren’t given out just like that; they come with certain conditions, which often require meeting a specific trading volume. Moreover, withdrawing funds is often not available until the conditions are met. Bonus amounts ranging from 30% to 100% is a negative indicator, hinting that the company operates without a license. After all, regulators prohibit offering such massive bonus promotions.
It also has an affiliate program, but you can only find out about it during account creation, as the system offers to enter a promo code. Why is there no separate description of the referral program and bonuses? It’s unknown.
Account Opening on Weinsteincorp.biz
Account creation starts with entering personal information, a password, and currency, and agreeing to the terms. The account’s currency can be in four options: USD, EUR, GBP, and BTC. However, the website doesn’t even require the verification of the provided email and phone number, leaving potential gaps in the security system.
The dashboard is generic and basic. Through the personal cabinet, users can perform basic actions: modify personal information, deposit funds, withdraw money, view transaction and trading history, and upload documents for KYC. By the way, Weinsteincorp doesn’t offer a demo account, so testing the platform in practice is possible only with real money.
Verification
Weinsteincorp requires all users to provide documents confirming their identity and proving their place of residence. The broker follows the AML & KYC policy, so trading without verification will be impossible. There’s a specific section dedicated to KYC in the personal cabinet, where users can upload documents. The company also requires a copy of the bank card to be provided and an additional document to be filled out.
- It is convenient to upload documents.
- Requires a lot of data.
- Requires you to take a picture of your bank card.
Trading Software
The trading platform works through any browser, both on computers and on smartphones. There isn’t a separate app developed for Android/iOS, but the terminal is adapted for mobile browsers. It is less convenient than using a separate app. The firm describes its software as user-friendly, advanced, and multifunctional. However, we can’t characterize the broker’s terminal in the same way.
The platform design is standard: in the center, there’s a chart taken from the popular Tradingview service, allowing traders to utilize various tools for graphical and technical analysis. On the left is a list of assets, where users can compile a list of favorites. At the bottom, there’s an order panel and trade statistics. Weinsteincorp does not support auto-trading, copy trading, automatic strategy testing on historical data, the ability to save a settings template and apply it in the future, or the ability to upload custom indicators. The terminal’s functionality is severely limited, offering only basic capabilities that are not suitable for comprehensive trading.
The broker could have solved the platform’s limitations by offering some popular alternatives. The well-known MetaTrader could easily eliminate the limitations of the terminal. However, the company clearly isn’t client-oriented.
| Features | Weinsteincorp | Nicholson Financial Service | Parenta Financial Services Limited |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ❌ |
| Mobile App | ❌ | ❌ | ❌ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With Weinsteincorp?
The trading conditions and additional features depend on the tariff chosen by the client. Next, we will look at the types of accounts available with the broker.
All Info About Accounts
Weinsteincorp offers four types of accounts, with excessively high minimum deposits. For instance, the first tariff “Classic” requires a minimum deposit of $5,000. Where do such demands come from for a company without a license or reputation? A reasonable threshold for the first deposit would be $1-10, maybe up to $100, but definitely not $5,000. Moreover, it’s worth noting that there’s no demo account. Here’s what “Classic” account holders receive: leverage up to 1:100, spreads 100 bps, 1 to 3 trading sessions a week, trading signals group, withdrawals within 5 business days, a welcome bonus of up to 30%, and 24/5 support.
The second account type “Bronze” starts at $25,000, the third “Gold” starts at $100,000, and the last “VIP” requires a deposit of $250,000. Okay, but who would agree to invest such huge amounts? The higher the account type, the better the terms, faster withdrawals, and more additional options, such as daily market reviews, investment protection fund, weekly managed sessions, access to our secret groups, VIP market insights & research, and others. All of this makes little sense, since Weinsteincorp demands massive investments that few would likely agree to.
The firm operates according to the philosophy of “investing more money to get more opportunities and better terms”. It is known that any fraudulent broker follows such a principle. It is unlikely that this firm is an exception. Moreover, the commissions are unknown, and there is no Islamic account at all. There are no options to try trading with a small deposit.
- None.
- Inadequate requirements for minimum deposit.
- No demo, and no Islamic account.
Market Analysis and Education With Weinsteincorp.biz
It provides a range of educational materials: classes of assets available in the financial markets, a glossary, and articles about trading. Clients can use the economic calendar for free. Other additional services are only available if one has substantial capital for the deposit.
Deposit, Withdrawal, and Fees
There isn’t a specific section on the website dedicated to deposits and withdrawals. In the personal account, it is evident that Weinsteincorp supports credit/debit cards, bank wire transfers, and Bitcoin. Nothing is known about the commissions, and the processing time for requests is up to 5 business days, depending on the account type.
| Features | Weinsteincorp | Equithy Global | WeFinancial |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ❌ | ✔️ |
| Crypto Transfers | ✔️ | ✔️ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ❌ | ❌ |
How Can I Contact It?
You can contact the managers of Weinsteincorp only via email. It’s strange that such an essential means of communication, like a phone number, is missing. Moreover, there are no accounts on social media, and there’s no online chat. However, the most intriguing thing here is that the company’s email doesn’t even exist.
- None.
- No social media accounts or online chat.
- No phone number.
- Email doesn’t exist.
Is Weinsteincorp Dangerous?
The firm demands an unreasonably high minimum deposit while providing a fake email address. Does it really have hundreds of millions in capital, offices, and a broad staff of employees? Unlikely. We’ll see that now.
How Long Does The Broker Work?
The first thing we’ll debunk is the claim of operating since 2013 and the registration in Switzerland, as this is supposedly where the company’s office is located. So, in the Swiss Register of legal entities, such an organization is not listed. Meanwhile, its domain was created on September 5, 2023, and there are hardly any reviews online. It’s evident that the broker is new, meaning it started operating only recently.
For some reason, the scammers have moved to https://weinsteincorp.biz/. They were probably previously detected by regulators or cybercrime authorities.
How Is It Regulated?
Regulations and licenses aren’t even mentioned on the official website, but we decided to check the FINMA register, which oversees the activities of Swiss brokers. Weinsteincorp isn’t listed there.
Where are the 3 offices if only one is mentioned? Where are the names of the liquidity providers? Where are the financial statements confirming the 275 million in capital? None of this exists at Weinsteincorp because the broker hasn’t obtained a license, and the registration in Switzerland is fake.
| Features | Weinsteincorp | StockScale | Sollari |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With Weinsteincorp?
Is Weinsteincorp Legit?
How Risky Is It?
Kevin Berry Do the scammers genuinely believe that their fake information can lure people into their fraud trap? If you claim certain facts and advantages, you should provide evidence. Eight liquidity providers? Not even a single name is mentioned. More than 200 million in trading capital, but there’s no financial reporting, even though by law the company is required to provide such reports. Could the broker really not obtain a license from FINMA in 10 years of operation? Everything here indicates that Weinsteincorp is a pitiful parody of a brokerage intermediary. The founding date, liquidity providers, offices, and 100 employees – all this is fake information, just like the platform itself.
Weinsteincorp rating
11 reviews about Weinsteincorp
Why aren’t the firm representatives responding? My money is stuck here, and I can’t withdraw it. I’ve been trying to reach out to the managers for several days now, but to no avail. Did I really fall into a fraud trap and scambroker? It would be disappointing, of course. But it’s my own fault.
Try to get it from the company they used to charge you the deposit!
Scambroker will gladly take your money only to deceive you later on. Do not invest in Weinsteincorp because you will lose that money. The broker’s platform is fake, so trading here is pointless. You will encounter scammers who will adjust quotes to benefit them and not you, because it is a real dealing desk. Their claim of collaborating with eight liquidity providers is a lie because there are no such providers.
Weinsteincorp provided a fake address in Switzerland to give the impression of a large and secure brokerage intermediary. It is a typical fraud project engaged in scams. Therefore, do not invest here, please.
The company absolutely does not fit the definition of a safe, profitable, and verified broker. Firstly, Weinsteincorp is some unknown firm, as they say, a “noname”. There are almost no reviews on the internet, no mentions. Information about the organization is missing in chats and on trader forums. Secondly, the minimum deposit. $5,000 – it is some unrealistic, astronomical amount for a minimum deposit. If you look at all the well-known, old, licensed companies, you will see there is a bar for a minimum deposit of no more than $100. At the same time, you can’t even try it on a demo account. Invest $5,000? Seriously? It’s some silly requirement, to be honest. Thirdly, what commissions and spreads? Why are such important conditions hidden? Fourthly, where is the broker’s license? How can a broker not have a license, especially one that is registered in Switzerland? Apparently, there is no registration in Switzerland at all.
Hello, this site is a scam… to retreave 14k€ i neaded to pay 8k€ and even now its not confirmed that they will restitue the money to my Binace acount
Hello,
did you receive your withdrawal in Binance already? I’m in the same situation, they are asking me to deposit the fees before to proceed.
By me same result. Asking for money for bonuses in a mount of 2.000 euros. My withdraw was 20.000 euros from my account of 35.800 euros. And I discuss about to calculating 20.000-2.000 = 18.000, but the answer is: IN our company it is denied. Read Company/ legal informations / TERMS AND CONDITIONS.
Funds appearing on Clients’ account may include agreed or voluntary bonuses and incentives, or any other sums not directly deposited by the Client or gained from trading on account of actually deposited funds (“Non-Deposited Funds”). Please note unless otherwise explicitly agreed, Non-Deposited Funds are not available for withdrawal and must be repaid with time. Further, due to technical limitations, Non-Deposited Funds may be assigned to Client’s account in certain occasions (for example, for the technical purpose of allowing the closing of positions or an indebted account). PLEASE NOTE NON-DEPOSITED FUNDS, including bonuses, loans, e.t.c, are not Client’s funds. If a withdrawal request has been placed, Weinsteincorp shall have full right to reclaim any and all such funds to be repaid completely from client’s side via bank/crypto/credit/debit card transfer.
So I lost my deposit of 5.000 euros. Ii is a fraud and scam company by 2 people. Think twice in future. Because is not legal company a steal your money very week for 5.000 e.
FINAL REVIEW! This company is complete Bullshit!
As I tried to go through the process and see how it will end!
I made at the beginning a deposit of 250e, as I wanted to experience the platform without big committment. it went well and I ended up deposing an extra 500 (BTC). in the meantime, I received Bonuses of a total of 600e. the account grow to 8000e, I made a deposit request and then the first request to deposit back, then I made a request to terminate my account as it smelled fishy.
I deposited the Bonuses back and then they sent me the termination contract and asked me to pay 800e as fees for the management, I paid that and then another request to withdrawal bank fees ( which by the way , they use the name of bank) – total of 600e – I did still as a final step, and then they put me in contact with their “bank” agent to make the final transfer to Finance wallet, he said its done! 2 SECONDS later, he said it was denial as the bank needs a Wallet verification 😀 I need to pay 900e to a verification wallet and it will be refunded automatically after verification, and I stopped there, I really wanted to see until the end what excuses they will provide, by the moment I reached 3k I stopped. And by the way, it was mentioned somewhere this company its part of AudermarsGroup, which I found scam updates somewhere else, with the same contact I was touch with. Im looking now where to report them, Im not expecting to receive my money back, but they should not be able to scam more people.
I am in the same situation. Put in 5k originally and when I want to withdraw they asked for an additional payment to cover the bonus fees, pointing to their pitiful legal statements that have no lawful base. These guys should be taken down asap and deserve to be put in jail.
This is a sad day for me….. I realized the f..king Weinsteincorp stole my money…and my dreams.
Be aware everyone!!!!! The only thing what I really angry at is my endless naivity or let’s call it stupidity.
Wish I found you and this page earlier! FCK!!!
I was invest first 250 EUR and in two days i withdraval 50 EUR to see how make withdraval. Than i invest more 500 EUR in 30 day first *Nicole* than *Monica* help me to make profit . But everything go in wery strange way whit deposit and whitdraval not go directly on our website. They want to deposit criptocurency before that make transfer money to Kraken and than send walet to them. In few minutes when i send walet they manualy write that deposit was make. Than they show me on their platform a good profit from 500 to 1.000 ERU in 15 days. Than i decide to invest more because presing from theis site. And finaly on platform i have 2.800 EUR . Because i needmoney to pay bill i ask to make whidraval and they say tha all position need to be closed before. I close same position but not possible to close everything because start working at 15.30h ; Unfortunatley i not possibel to close position at 15.30h but when i lok accoutn at 19h it was -500 EUR. Than i understand tha all is a game and company is scam. I not racomanded this company.