Forex WiseMarket Broker Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.3

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.5

Business 0.8

Risk Control 1.1

Software 1.8

Regulatory 1.3

Terminal Snapshot

WiseMarket Trading Conditions

Registered Region Saint Vincent and the Grenadines

Operating Period 2-5 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email admin@mywisemarket.com

Contact Number +60348155866

Website wisemarkets.net

Balanced Review

Pros & Cons

Pros

Diverse trading instruments including forex, commodities, indices, stocks, and cryptocurrencies
Availability of both live and demo account types
Web-based platform and mobile app for trading
Instant deposit options through credit/debit cards and e-wallets
Customer support available via email and telephone

Cons

Not regulated by any recognized financial authority
Limited transparency regarding trading fees and spreads
Withdrawal issues reported by multiple users
Lack of educational resources for traders
Customer support limited to email and phone, no live chat available

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	WiseMarket	Anzo Capital	Focus Markets	AvaTrade
Operating Period	2-5 years	See review	See review	See review
Region	Saint Vincent and the Grenadines	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.3/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does WiseMarket Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Live Account	Traders looking to engage in real-time trading	Access to full range of trading instruments	Designed for those ready to trade with real money
Demo Account	Beginners and those testing strategies	Simulated trading environment with virtual funds	Ideal for practicing without financial risk

Account Opening Process

To open an account with WiseMarket, follow these steps: First, click on the “Open Account” button on the website. Next, fill out the registration form with your personal information, including name, email, and contact details. After that, choose the account type that suits your needs, whether it’s a live account for real trading or a demo account for practice. Then, verify your identity by providing necessary documents like an ID and proof of address. Finally, once verified, you can fund your account. Note that there is flexibility to upgrade your account type later if needed.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	Varies	Varies	General trading costs apply
CFDs (Stocks, Indices, Commodities)	Varies	Varies	Dependent on the specific instrument
Cryptocurrencies (e.g., BTC, ETH)	Varies	Varies	Costs may fluctuate based on market conditions

Other Fees

WiseMarket may apply various fees including potential deposit and withdrawal fees, inactivity fees for dormant accounts, platform usage fees (if applicable), overnight interest (swap rates), and currency conversion fees that may occur during transactions. Traders should review these aspects carefully to understand the total cost of trading.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

WiseMarket User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Amit Shah

South Africa

★ ★ ★ ★ ★

I have been using WISEMARKET for 3 years now. I’ve always felt at home with this broker, especially with their supportive and efficient customer care service, coupled with fast withdrawals as well as deposits. Never had to look any further for another broker.

Beatery

Russia

★ ★ ★ ★ ★

WiseMarket is a fantastic trading platform with a diverse range of market instruments to suit every trader’s needs. They also offer a variety of account types, making it easy for traders to find the one that best fits their trading style and goals.

Muhammad Arif Fauzi

Malaysia

★ ★ ★ ★ ★

Withdrawal already approved but I still didn’t receive the money in my bank account. I already emailed my bank statements as proof to support, but I’m still waiting for a resolution.

Gobi9751

Malaysia

★ ★ ★ ★ ★

I made a withdrawal on August 18, 2023, amounting to $500, which shows as successful on my WiseMarket account, but my bank account doesn’t reflect the deposit. I’ve sent numerous emails to their support, but I only get automated replies. This is very frustrating.

Saint Vincent and the Grenadines Market