Is WDC Markets a scam or legit broker?
No, it is not safe to trade with WDC Markets as it is not regulated. WDC Markets is owned by FTG Solutions LTD (Registered number: 1994899), First Floor, Mandar House, Johnson’s Ghut, P.O. Box 3257, Road Town, Tortola, British Virgin Islands and operated from Tornimae 5, Tallinn, 10145, Estonia.
The BVI FSC is known for its light-touch regulation and very loose requirements that brokers do not try to comply with. Although the firm is licensed, BVI regulation is not enough to provide the financial services in, for example, the UK.
About WDC Markets
|🗺️ Registered in
||British Virgin Islands
|🗺️ Type of License
|🛡️ Is WDC Markets safe to trade
|🗺️ Recommended Licenses
||FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
|🖥 Alternative Broker
||FP Markets - licensed by ASIC in Australia
WDC Markets claims to be a leader in financial markets brokerage including Forex, CFDs, and Indices. The broker provides its clients with a wide variety of markets and instruments, as well as the range of expert services, resources and advice.
In addition, we couldn’t find any information about this broker is the register of the Estonian Financial Supervision and Resolution Authority, which only proves that WDC Markets lacks regulation.
Moreover, the broker has been blacklisted by two regulators.
New Zealand, FMA:
“We are concerned that WDC Markets and website https://wdcmarkets.com are withholding client funds and may be operating a scam. WDC Markets is not a registered financial service provider and is unable to offer financial services/products to New Zealand residents. As such, we recommend exercising caution when dealing with this entity.”
“WDC Markets is not authorised to provide the investment services, which include investment advice, nor to provide the auxiliary in relation to the financial instruments, including, for those purposes, foreign currency transactions.”
The pages and official sources of the international regulators’ list alert shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. As WDC Markets got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authorities.
We advise all investors and traders to avoid WDC Markets and other unregulated brokers (Check out Fake Forex Brokers List in Nigeria). The lack of information about the broker’s regulation, trading conditions and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and XM.com.
You can also share your trading experience with WDC Markets by commenting on this review.
WDC Markets website is no longer active.