Wontobel Review: Wontobel.com Beware of this Broker

Wontobel is a broker operating in German. They promote attractive trading conditions. Everything appears to be in check with the platform. However, there is more than what meets the eye. The broker claims it is a reputable entity in the globe. 

You cannot rely on the firm to generate passive income. The people managing this website are anonymous. The most minor an entity can do is to be transparent. Investors should know the people handling their funds. Investment is something you should not take it lightly. 

Wontobel also brags it many licenses from various bodies in the market. Unfortunately, this is another false claim. The platform is illegally in business. They can shut down the operation without notice. The venture is also capable of violating the set guidelines. 

The entity has copies of information from a genuine entity. The firm claims it deals with metals, stocks, forex, and commodities. There are over 4000 products. These are volatile assets. You need skills to excel in the trading space. However, scammers make trading sound magical by promising high returns.

Invest with leading forex trading schemes. These are transparent and entities following the set rules. They enforce high-security measures. Your data and money are safe. Avoid trading with suspicious firms not to lose funds. 

Wontobel.com Review

Wontobel claims it has 40 years of experience. Our main question is why does the venture lack provide performance record. There is no evidence that the broker is trading or involved in any other investment service. They also purport to have won numerous awards. 

Kindly do note the only award this shady firm can acquire is for being an incompetent firm. The offshore firm is a proven scam. You need to register an account to enjoy the services of the broker. Provide proof of address and proof of identity documents. It is hazardous to provide such data to anonymous people.

Before investing with a platform, you must double-check the information provided. You need to determine if the website is genuine lest you lose money. There is valuable information you can get online regarding any broker. Do the research and make an informed decision.

The entity fails to provide its banking information. If you trade with them, your money is at higher risk. You cannot issue a chargeback from them. Wontobel may not even have enough capital to run its business. The scheme can misuse the money for their selfish gains.

Trading Conditions of Wontobel

Wontobel showcase a spread of 0.1 pips. The speed of executing a trade is fast. The trading platform being offered by the website is advanced. The company claims thousands are using the interface. It has advanced technical analysis, indicators, charts, and bots. 

However, the company only has a web trader. It does not seem to work, and you should not waste your time with the scheme. They also have TradeView charts, and it is impossible to place an order.

You won’t find such murkiness with a legitimate firm. A functional and profitable software will be available. Wontobel has three trading accounts. The minimum amount to cash in is $100. The minimum amount to deposit is $250. The loopholes with the firm are extensive. 

The incompetent firm deceives clients it invests their money. The leverage to expect is 1:500. The limit set by European Securities and Market Authority (ESMA) is 1:30. Germany is a part of the EU, and any financial scheme operating in the country must observe the rule.

High leverage does open the possibility for a higher return. However, making a mistake and choosing a bogus venture can lead to significant losses, yet you do not have adequate skills. The entity has bonuses and promotions. These are other lucrative banned in Europe. Wontobel is an illegitimate entity. They will leave you high and dry.

Withdrawal and Deposits

The venture indicated it accepts funds via wire transfers and credit cards. The scheme allows clients to cast $100 for credit cards and $500 for wire transfers. Legitimate brokers don’t have such requirements. Therefore, customers can cash out whichever amount they please.

Wontobel does not seem to accept money via the availed options. This does not surprise us since there are many scammers in the industry. Hence, they use options that limit clients from issuing a chargeback. On the terms and conditions, there is a clause for bonuses. If you accept the bonus, you must execute a 25 times volume of the bonus.

Customer Support and Contact Details

The customer support works 24/5. Wontobel is a broker determined to be anonymous. The entity does not indicate its country of origin, office address, or other contact details. Investors can reach the scheme via email. This is not an ideal communication channel.

Scammer lacks sufficient funds to hire professionals. Sales reps are the ones who do their dirty biddings. They will call you endlessly, needing more cash. Therefore, the cycle will continue until you open your eyes or run out of funds. The same friendly individuals will start being unprofessional and rude. 

Wontobel lacks clients reviews. We don’t know the experience of their customers. Nobody seems to be interested in their services. For the sake of your sanity, avoid the scheme. There are many genuine firms in the market.

Every form of business understands the importance of having quality support. Investors also have confidence in companies that have sound support. This Ponzi scheme is not operating from German. Hence, you need to find a platform that offers world-class support. One that will handle your query in time and treat you professionally.

Regulation Status of Wontobel

Various countries have set up regulatory agencies to protect citizens against fraudulent activities. There are strict requirements brokers have to meet before starting their operations. Depending on the country of origin, a certain capital must be deposited. 

The amount guarantees a scheme can run successfully in the volatile market. Investors’ funds will also be secure since the scheme cannot misuse their money. The account of the firm must also be segregated from investors. Another advantage of the licensed firm is the withdrawal requests are processed in time. 

Wontobel is an illigitimate scheme. They do not have a parent company. Regardless the company claims it has a license. The broker does not protect clients against negative account balances. Moreover, they are breaking the law, and investors won’t receive compensation.

Shady offshore firms can change the terms and conditions overnight. They also don’t report their open and close trade. The firm is operating as it pleases. The safety of your money is not guaranteed. The entity has a low trust score. Additionally, the traffic visiting the website is insufficient.

Final Verdict 

Wontobel is not licensed by BaFin. The broker has shady trading conditions, and we recommend staying away from them. The assets being offered by the broker are volatile, and the price keeps fluctuating. We are not aware of the people behind the scheme. 

Here is a list of genuine forex trading platforms. The companies have years of experience. They have professionals who manage the accounts of traders. Additionally, clients get to improve their trading skills with the brokers. 

No, the company does not have a license.

Unfortunately, the entity does not have enough funds to hire a professional team.

No, the broker is exposing traders to risk.