Wise Banc Review (2023)
Is Wise Banc a scam or legit broker?
No, it is not safe to trade with Wise Banc. Wise Banc is owned and operated by Orion Service EOOD and claims to be located in Sofia, Bulgaria.
Wise Banc is a Forex and CFD broker. The company is a registered brand of Orion Service EOOD. According to the details provided on the website, the company is based in Sofia, Bulgaria and had branches in Malaysia, New Zealand, Singapore, and South Africa.
About Wise Banc
| 🗺️ Registered in | Bulgaria |
| 🗺️ Type of License | No License |
| 🛡️ Is Wise Banc safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | GO Markets - licensed by ASIC in Australia |
Despite its European location, the company is not licensed to provide its services in any of the European countries as well as in the countries where Wise Banc has branches. Also, Orion Service EOOD was previously banned by the FCA in the UK.
This time the company got the warning from the Central Bank of Ireland (CBI):
“Wisebanc/Orion Service EOOD (Bulgaria) is not authorised by the Central Bank as an investment firm, or to provide investment advice.”
The broker’s website is not available at the moment.
Conclusion
We advise all investors and traders to avoid Wise Banc and other unregulated brokers. 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 BDSwiss and FBS.