UK Wise Rates / Wise Rates Ltd has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I was contacted by UK Wise Rates / Wise Rates Ltd through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
I am in a dispute with UK Wise Rates / Wise Rates Ltd over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Intuitive for beginners|Regular updates|Tax reports included
Cons: Some tools only available on higher tiers
I lost a significant amount because UK Wise Rates / Wise Rates Ltd did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: API access|Multiple order types|High security standards|Low minimum deposit
Cons: Desktop app not available on Linux|Account statements could be more detailed
What really bothers me about UK Wise Rates / Wise Rates Ltd is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them through a podcast recommendation and I fell for the polished exterior. Never again.
Pros: Demo account available|Excellent charting
Cons: Limited cryptocurrency options
I closed a profitable position at UK Wise Rates / Wise Rates Ltd and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Copy trading available|Market news feed|Multiple order types|Fast deposits
Cons: Charting tools need more indicators
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Pros: Information is publicly available for verification
Cons: Flagged by international regulators|Due diligence required
Several red flags with UK Wise Rates / Wise Rates Ltd: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly