Wizard Capitals is a trading website with an unsecured domain. It practically means that any information you provide or enter on this website, including your banking details, can easily be stolen or hacked. And that’s just the first out of many red flags. Read our Wizard Capitals review and learn everything.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | wizardcapitals.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | N/A |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | 2021 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | $200 |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:1000 |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
What About Wizard Capitals Regulation?
Wizard Capitals claims to be regulated by the FSA of Saint Vincent and the Grenadines. Before we even go into explaining that this authority body is not a regulator for Forex firms, just check the regulation number – XXXXX BC 2021. From this, you can understand it’s fake.
Why Must A Broker Have a License?
A broker must have a license to provide a money-back guarantee. Even if something goes wrong, regulators have compensation funds to reimburse potential victims. With Wizard Capitals, there’s no such guarantee.
Besides the fact that the provided license number is false, you should know that the FSA of SVG is not regulating Forex and binary options firms, leaving them to opt for a license in the country of service.
In order to add to the above, we strongly advise you not to invest in fraudulent brokersOrtegazak,GlobalPairs andFinLibra.
Traders Reviews About Wizard Capitals
Wizard Capitals has been rated negatively, and there are a lot of bad comments. Mainly, clients are complaining about withdrawals. It seems that once you deposit the funds with the broker your account manager will work hard to earn your trust. You may see some fake profits and be convinced to deposit more. The broker will simply block your account access and stop responding when it comes to payouts.
What Platforms Does Wizard Capitals Offer? – Available Trade Software
Wizard Capital offers a proprietary WebTrader for desktop and mobile versions. Supposedly, the company offers four platforms, among which MT5, but it’s far from the real situation from all we saw.
Wizard Capitals MetaTrader 5 – Is It Available?
Some brokers use reputable software such as MT4 or MT5 to lure you into investing when, in fact, they offer nothing. Once you sign up, you will see the links to download the MT5. Yet, none of them work, and all you can access is a WebTrader.
All About Wizard Capitals Accounts
There are 3 the broker account types:
The main difference between the first two types is the spread. The Classic account offers a higher spread and no commission, while the Standard has quite a low spread and additional fees. The VIP account has the lowest leverage and spread.
Does Wizard Capitals Have A Demo Account?
The trading company doesn’t have a Demo account, and you need to deposit the funds if you want to test their system.
Wizard Capitals – Where’s The Trading Scam Active?
The broker mainly provides its services in:
- US
- UAE
- Canada
- Serbia
Wizard Capitals Range of Trading Instruments & Markets
The firm allegedly offers trading on 5 major markets – currency pairs, commodities, indices, shares, and cryptocurrencies. Since there’s no Demo account and the platform link doesn’t work, we were unable to verify this and confirm the exact number of assets.
Since we already know that this trading firm cannot be trusted, we advise you to avoid it by all means.
About Wizard Capitals Trading Conditions
The broker offers spread from 0.1 to 1.2 pips for EUR/USD pairs depending on the trading account. Besides, there’s a commission of $8 per lot on the Standard account and $7 per lot on the VIP account. These commissions are too high compared to other brokers, being another reason to avoid the company.
Please, also remember the names ofStrategic FX,EmiDealsandZMarket Globalscams and avoid them at all costs! Also, always check the history of online trading companies before investing!
High Leverage Wizard Capitals
While most regulators limit their leverage to up to 1:50 for the Forex market, the trading company allows from 1:200 to 1:1000. With this exceptionally high leverage, you’re risking 200 to 1000 more times to lose everything you invested in and potentially have a debt towards the company. Be aware of such schemes.
Wizard Capitals Deposit, Withdrawal Methods, and Fees
The broker has never specified accepted payment methods or fees. While legitimate brokers have a Deposit and Withdrawal Policy, giving you all the details, this company has nothing.
The lack of basic Terms and Conditions is just another red flag and another reason for us to urge you not to invest with this fraudulent firm.
Scammed by Wizard Capitals Broker? – Let Us Hear Your Story
If you were scammed by Wizard Capitals or a similar bogus broker, let us know. Our chargeback specialists will be more than happy to help you with this issue and assist you in filing a dispute.
But What Is A Chargeback?
This is a way for your bank to recover the funds from the merchant in case you can provide evidence about the scam. Get in touch now, and let’s start the procedure before it’s too late!