Wilton Option Review: Get to Know This Broker More
Wilton Option review explains everything a trader needs to know about this allegedly Swiss-based broker company. They call themselves the number one FX broker, which is hilarious. They didn’t provide a single piece of evidence to back that story up. It’s a bold statement for a newly launched website.
Also, they promise a better life and secure future with them. It’s just what an average scam broker does. Guaranteeing impossible – making a fortune on the Forex market. If you still have some interest in investing in this trading company, keep reading the following paragraphs.
Working with unlicensed brokers, such as those described in the following paragraph, has the same risks as Finance Capitalfx, ROinvesting, and Finex Global.
Regulation and Security for Wilton Options
Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is located, what licenses it holds, and which regulatory bodies oversee its activities. Lack of such highly-relevant details or lying about them is always a red flag that we are probably dealing with a scam.
Wilton Option claims to be based in Zurich, a global center for banking and finance. Switzerland’s official regulator is the Swiss Financial Market Supervisory Authority (FINMA), and as a broker, Wilton Option should be regulated by them. The problem is, we didn’t find the name of Wilton Option in this regulatory database. As we expected.
This trading company is not regulated anywhere, which alone should be enough to convince you to avoid this firm at all costs. Several legitimate companies are respecting the law. And most importantly, they respect their customers. They don’t hide or lie about their personal information.
Before investing your money in financial instruments, it is imperative to make sure you do that through a licensed intermediary and not with one of the many scammers lurking online.
Instead, you can turn to one of the many companies that work under the supervision of respected regulatory bodies like the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), or the Financial Conduct Authority (FCA) in the UK.
Available Trading Platform at Wilton Option
Wilton Option claims to have a “unique award-winning trading platform”. They describe it as a user-friendly interface with interbank liquidity and fast execution which offers many benefits to the end user and satisfies many of the most popular traders’ needs with its variety of tools and resources.
It’s not that we are surprised, but this is yet another lie. After signing up for an account, we only get access to a basic web-based platform that’s not even near the software offered by legitimate brokers.
Missing a proven and reliable trading platform, like MT4 and MT5, is a strong sign that we are dealing with a scam.
Wilton Option Trading Instrument Offered
Wilton Option offers trading instruments including forex pairs, commodities, indices, shares, bonds, and cryptocurrencies. Since they don’t offer a real platform, and there is no actual trading going in, there is no reason to further discuss this.
Wilton Option offers leverage at 1:400. Bear in mind that trading with highly leveraged instruments means higher risk and any broker that may try to convince you otherwise, or trying to assure you that your returns are guaranteed, is clearly about to scam you.
Leveraging this high is illegal in many jurisdictions like the EU, UK, and Australia. They do not allow more than 1:30 for retail clients. Yet another piece of evidence is that we are dealing with a fake broker.
Deposit and Withdrawal Procedure
Wilton Option accepts payments with VISA, Mastercard, and cryptocurrencies like Bitcoin. It’s a good thing that they don’t limit you to crypto payments. However, that certainly does not change the fact that we are dealing with unregulated scammers.
The minimum deposit is set at €250, which is higher than what our list of recommended brokers charges. Their minimum deposit is between $5 and $100. Plus, they aren’t operating illegally.
Wilton Option charges an extremely high withdrawal fee of €25 + 1%. Trustworthy brokers usually do not charge transaction fees at all and even cover the cost of bank transfers.
But withdrawing funds becomes very difficult or even impossible if the account has received a bonus. In this case, the withdrawal is allowed only after meeting high requirements for a minimum traded volume. Which is twenty-five times the amount of the bonus plus the deposit.
Wilton Option also announces an outrageously high fee of 10% of the balance of accounts that have not been active for more than six months. These are all common things for fraudsters.
How Does This Scam Operate?
Scam brokers like Wilton Option are all about fast profit. They are aware of the fact that it is only a matter of time before they get exposed, and they are going strong with advertising. That’s why innocent people come across them all the time, and leave their data. After that, professional fraudsters will contact you and start persuading you into investing money in them.
After you make the first investment they will ask for more and more money, justifying it with more potential profit. They are not only after your money but the money of your family and friends, as well.
Wilton Option Summary
Wilton option is one of many dishonest trading companies. With investment scams like this one, you can’t believe a single word. They claim to be a Swiss-based firm, and that isn’t true. The local Swiss Financial Market Supervisory Authority (FINMA) regulates brokers, and we didn’t find Wilton Option in this regulator’s database.
Problems like manipulative software, bonuses that are forbidden, and the unusually high minimum deposit are what always go with financial swindlers like Wilton Option.
FAQs About Wilton Option Broker
Is Wilton Option Regulated?
As an allegedly Swiss-based broker company, they should be regulated by the Swiss Financial Market Supervisory Authority (FINMA), which they aren’t.
Does Wilton Option Charge Deposit or Withdrawal Fees?
Wilton Option charges an extremely high withdrawal fee of €25 + 1%. Plus, they charge a high fee of 10% of the balance of accounts that have not been active for more than six months.
What Is Wilton Option Headquarters Country?
This trading company claims to be located in Switzerland, which we highly doubt.