Wealthld.com review – 5 things you should know about wealthld.com

Beware! Wealthld.com is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

The first thing that makes an impression when you open the website Wealthld.com is that the logo of this alleged forex broker uses the brand GO Markets. The Wealthld.com’s dashboard and contact email use the domain name g0market.com. But the website itself only uses the “Wealth” beard.

GO Markets is actually a regulated forex broker whose review you can read here. Wealthld.com is a website that tries to pose as being affiliated with this legitimate financial services provider, but is actually a scam.

Wealthld.com Regulation and safety of funds

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

No company name can be found anywhere on the Wealthld.com website. There is also no Customer Agreement, Terms and Conditions or other legal documentation as required by a licensed broker.

If you don’t know exactly who you’re dealing with and what the terms of the deal are, it would be an inexcusable mistake to put your money on the line.

Wealthld.com provides a partial contact address which belongs to a business building in Hong Kong. A check with the relevant financial regulators shows that Wealthld.com is not an authorised broker in Hong Kong.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences.

There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in US or Australian Securities and Exchanges Commission (ASIC). Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.

In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK.

However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.

Wealthld.com Trading software

Wealthld.com offers links to two different mobile trading apps, Tradingweb and AppGlobalEasy. But Wealthld.com does not provide certificates for logging into the trading server. Therefore, we cannot say that Wealthld.com has a functioning trading software.

But even if Wealthld.com had a more convincing platform, that would not make this website credible. Fake brokers use rigged trading software to mislead their victims that their money is really being invested. But this trade is entirely sham.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Wealthld.com Trading instruments

Wealthld.com claims to offer  Forex, Indices, Commodities and Crytopcurrency trading. But the website does not provide any information about the terms of this trade.

Legitimate forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc.

Wealthld.com Spreads and cost of trading

If you invest through an established broker, you can expect to pay a price of less than 20 USD per standard lot traded in the form of spread and commissions. As stated, scammers like Wealthld.com do not offer real trading.

Wealthld.com Maximum leverage

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.

In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50. This maximum level only applies to trading major currency pairs, with even more limited leverage for more volatile assets.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Wealthld.com Deposit and withdrawal methods

The Wealthld.com deposit menu is not available if the account is not verified.

Experience has shown that fake brokers steer their potential victims towards cryptocurrency transactions. This not only guarantees them anonymity, but also deprives the defrauded of the option to request a refund or chargeback.

While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Wealthld.com Minimum deposit

The leading brands in the industry offer beginner investors Micro and Cent accounts with a very low minimum deposit.

Wealthld.com Withdrawal requirements

Since Wealthld.com does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.