Wealth Kasse review – 5 things you should know about wealthkasse.com

Beware! Wealth Kasse 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.

Wealth Kasse assures us that it is a forex broker serving hundreds of thousands of satisfied traders. But in preparing this review, we found no reason for anyone to really use the services of this anonymous website offering very unfavourable terms. Wealth Kasse is nothing more than yet another online scam. Let’s take a look at why this is the case.

Wealth Kasse Regulation and safety of funds

When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to.

As has been pointed out, Wealth Kasse is anonymous, and even the text of the Terms and Conditions does not mention a legal entity. This in itself proves that we are not dealing with a legitimate financial services provider.

The website provides a contact address in Belgium, but the Terms and Conditions specify Poland as the applicable jurisdiction. A check of the records of the relevant financial regulators shows that there is no authorised broker using the Wealth Kasse trade name and domain.

Before investing your money in financial instruments, it is imperative to make sure you do so through a licensed intermediary and not one of the many scammers lurking online.

Under no circumstances should you trust your money to such anonymous websites full of false and contradictory information. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK.

As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK.

Wealth Kasse Trading software

After registering an account, we get access to a pretty basic web trading platform that doesn’t feature extensive customization options or advanced functionality.

We’ve seen the exact same platform being used by multiple fake brokers we’ve encountered. Scammers are using rigged trading software to fool their victims into believing that their money is really being invested and even turning a profit.

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).

Wealth Kasse Trading instruments

Wealth Kasse advertises that it offers trading in forex, indices, stocks and commodities, but does not provide detailed information on the tradable instruments and trading conditions.

Wealth Kasse Spreads and cost of trading

In the trading platform, we see a spread of 3 pips, which is double the industry average. The account type descriptions indicate even higher and unprofitable levels.

Wealth Kasse Maximum leverage

Wealth Kasse claims to offer leverage up to 1:800. This is proof that it is not a licensed broker operating in EU countries.

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.

Another such piece of evidence is the claim that Wealth Kasse offers bonuses. Regulated brokers are prohibited from offering bonuses and promotions. Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms.

If you are nevertheless willing to take the risk of high-leverage trading and want to take advantage of bonuses, promotions and prize games, the best option is to use the services of offshore brokers operating under an established brand.

Wealth Kasse Deposit and withdrawal methods

At the time of writing this review the deposit menu was not active. We were therefore unable to ascertain what payment methods were available.

Experience has shown that fake brokers routinely advertise conventional payment methods, but actually 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.

Wealth Kasse Minimum deposit

The home page states a ridiculously high minimum deposit of 5000 EUR, but the Terms and Conditions state a more reasonable amount of 250 USD. In any case, it would be wiser to invest through an established broker. Leading brands offer Micro accounts suitable for beginner traders.

Wealth Kasse Withdrawal requirements

If the account has used a bonus, it can only withdraw funds after it has met the conditions for minimum traded volume – 25 times the bonus amount plus the deposit. This is a typical scam clause designed to block any withdrawal requests.