WDC Markets is a trade broker that claims to trade in Commodities, Stocks, Forex, and Indices. The company also offers three types of trading accounts for their customers to choose from. The one thing that managed to raise eyebrows was the fact that the company does not provide a demo account for the new customers to try out their services and trading in general. Read the full WDC Markets review here.
About WDC Markets:
Every legitimate trading broker that has a license from a regulatory authority will always offer a demo account so that the new customers and the new traders get a hint of how the online market of trading works. This is often a major rule by the regulatory authorities made in order to save the citizens of their country. Thus, if you come across any of the trade brokers who claim to be the best in town and yet do not have a demo account for the customers to choose and try. Even though the company offers 3 different accounts, the registration form is the same for all three. The form asks for basic information such as name, phone number, country, the currency you prefer, etc. However, the completion of these was followed up with no messages or notifications of any kind. This is yet another red flag as it sounds a bit tricky and is not usually done by the regulated trading companies. Upon researching on their website, we found out that this investment company has released no information about itself or any information on where its headquarters are. The contact number provided on the website is from the United Kingdom. However, this company has not been registered or is under the regulated companies’ list on the Financial Conduct Authority or the FCA. What is even more interesting is that New Zealand’s Financial Market Authority or the FMA has issued warnings against the WDC Markets. According to the regulatory authorities of the countries, the citizens should always invest in different companies rather than doing it in one in order to avoid incurring huge losses. This not only helps the citizens from debt traps but also in letting them know a bit more about the investment market. One must always do thorough research about the companies they are planning to invest in and should always check for the authentication of their license number from the regulatory authority of your company.
The Final Verdict:
WDC market offers a web-based training platform to its customers and claim their web interface to be an award-winning and superior platform with cutting edge technology. However, their claims have not been true till now, and nor are they in this case as well. The web interface that this company provides is pretty basic and not as much as they claim. They do not even provide a mobile-based platform for their website which yet again poses as a red flag as the regulated companies do all of this. From all the above points, we conclude that WDC Markets is a complete scam and nobody should fall into their trap. We recommend our readers to not fall for these silly traps with scam broker and lose all their money.