Dear Investor,
We do not recommend investing with WMarkets as it does not appear to be a secure platform.
WMarkets does not disclose any regulatory information and makes no claim of holding a license from any financial authority. It only states that it has addresses in Nigeria and Dubai.
However, forex trading in Nigeria is not strictly regulated, meaning brokers registered there typically operate without meaningful oversight, posing significant risks to clients.
Additionally, we searched the registers of all major UAE regulators, including the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA), and the Central Bank of the UAE (CBUAE), and found no record of WMarkets or any affiliated entity. This confirms that the platform is not licensed to offer forex services in the UAE either.
Given the complete lack of regulation and verifiable authorization, WMarkets appears to be an unlicensed and high-risk operator. We strongly advise you to avoid trading with this broker to protect your funds.
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