WTPRONIVEST – Are They Safe?

Website URL: https://www.wtproinvest.com/

Founded: 2020

Regulations: Unregulated

Languages: English

Deposit Methods: VISA/MasterCard and Bitcoin

Minimum Deposit: $1,000

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Forex, Cryptocurrency, Indices, Commodities, Stocks, ETF and Bonds

Trading Accounts and Conditions

WTPRONIVEST offers its customers five types of trading accounts:

• Standard Account: The starting capital is $1,000, minimum spread is from 1.5 pips, and the leverage is 1:200.
• Silver Account: The starting capital is $10,000, minimum spread is from 1.2 pips, and leverage is 1:200.
• Gold Account: The starting capital is $50,000, minimum spread is from 0.8 pips, and the leverage is 1:200.
• Platinum Account: The starting capital is $100,000, minimum spread is from 0.3 pips, and the leverage is 1:200.
• Pro Account: The starting capital is $300,000, minimum spread is from 0 pips, and the leverage is 1:200.

Forex Bullish – Advantages

After thoroughly investigating WTPRONIVEST, we can say that there are no advantages to investing with this broker.

Forex Bullish – Disadvantages

• Anonymous and Unregulated Broker

The company’s website indicated that the address of this broker is in the Marshal Islands. What this means is that their location is in the offshore zones wherein no financial regulator is needed to register the forex company. Most companies, with the intention to scam people, use this method. This is an implication that WTPRONIVEST is unregulated; hence, it is most likely that you’ll lose your funds if you invest with them. Therefore, we warn our readers not to trade via this broker nor any unregulated and unlicensed brokers at any cost!

So where to find legit brokers then? The most established brokers come from Australia, EU, UK, and the US.  Several safety precautions were set in place under the jurisdiction of these countries. For instance, forex brokers that would like to be regulated under Australia’s jurisdiction have to put up a capital of 1 million AUD. There is no sense to spend this much amount for the purpose of scamming people. In the US, a broker company needs to invest a whopping $20 million. Moreover, same goes for EU and UK wherein forex broker companies must have a minimum capital of 730,000 EUR.

The best thing about trading with regulated brokers is that your investments are insured. In the UK, all brokers that are regulated by the FCA get to compensate their investors by up to 85,000 GBP each person. Meanwhile, those investors trading for brokers that are licensed by CySEC will receive up to 20,000 EUR per person. Furthermore, to avoid any form of abuse, brokers under these jurisdictions are required to report about their transactions on a daily basis.

Plus500

$100

Minimum Deposit

Start Trading

Read Review

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 

AvaTrade

$100

Minimum Deposit

Start Trading

Read Review

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

• Unsafe Web Trading Software Offered

The broker offers a web trader platform to its customers. This trading platform comes with several trading instruments and tools beneficial for traders. However, when we navigated the platform, we see that the trading environment puts customers at a big disadvantage.

If you are looking for the best trading platform, the best there is on the market is the MetaTrader 4 or its successor the MetaTrader5. Statistics show that 80% of brokers trust this platform for trading because of their sophisticated features. To maximize your trading experience, choose the mentioned platforms and get a licensed broker.

• Leverage is too high

While WTPROINVEST offers a trading platform with decent trading features, it forces traders to set values for spreads and leverage at very high levels. For instance, the minimum leverage is at 1:200. This level is already considered too high and presents risks for big losses.

A limit has been imposed for licensed brokers on leverage which can’t exceed 1:50 for US and 1:30 for EU. This was established in order to avoid traders from losing big time. The leverage offered by WTPROINVEST doesn’t fall at the safe zone, which implies that it is not safe at all to trade with this broker. To ensure your funds are protected, always choose brokers that are regulated and preferably under the jurisdiction of Australia, EU, UK, and the US (as mentioned above).

• High Minimum Deposit

The broker offers a minimum capital of $1,000 for its customers. This initial deposit is considered to be too high compared to the average rates offered by other licensed brokers amounting to only $100. Moreover, the succeeding trading accounts also require very high amounts ranging from $10,000 up to $300,000. You don’t want to risk this much amount to invest with a broker that isn’t even regulated.

• Limited Payment and Withdrawal Methods

To make any transactions with this broker, you are only limited to use Bitcoin and VISA or MasterCard.

• High Fees and Unfair Bonuses

This broker imposes a fee of $50 per month for accounts that are inactive for 60 days. The problem, however, is that in order to wire transfer, a minimum deposit of $250 is needed which is obviously unfair.

Furthermore, they also offer unfair bonuses. At first, they try to entice traders to sign up with the bonus program. However, you won’t be able to withdraw funds unless you reach the required Trader Points which is almost impossible to achieve under normal circumstances.

Conclusion 

Like most offshore brokers, WTPRONIVEST is clearly unregulated and anonymous. Its terms and conditions also give traders a disadvantage and its trading platform is clearly designed to force investors to trade at very risky environments. There is no way we would recommend this broker to our readers. Investing with them is a sure way to lose your funds. A rather safe place to put your investments is with a regulated and licensed broker that is regulated by FCA or CySEC. This type of company is forced to follow strict rules and regulations to get regulated. Having said, investors are more protected and are not prone to getting scammed.

WTPRONIVEST

2.5

User Experience

3.2/10

Payment Options

2.3/10

Security

2.4/10

Support

2.1/10

Reputation

2.4/10

Pros

• None

Cons

• Unregulated Clone Firm
• Unsafe Web Trading Software Offered
• Leverage is too high
• High Minimum Deposit
• Limited Payment and Withdrawal Methods