WCG Markets Ltd has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". We have received reports of verbo-fx.com and verbofx.com operating a cryptocurrency trading scam.
A New Zealand resident was befriended on Facebook and subsequently contacted via WhatsApp, where they were referred to the trading app VerboCapital-live.
This app appears to fabricate trading p... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I was about to invest with WCG Markets Ltd but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Pros: Website looks legitimate on the surface
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
WCG Markets Ltd has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Dividend tracking|Helpful community forum
Cons: Live chat only during business hours
After using WCG Markets Ltd for roughly four months, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Automated trading options|Personal attention|Great customer service|Professional team
Cons: None so far
For anyone considering WCG Markets Ltd, please be aware that this company has been flagged by Financial Markets Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Flagged by international regulators|Due diligence required
I found WCG Markets Ltd after a trusted YouTuber reviewed them and the initial impression was positive. But for the past six months later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Multi-currency support|Market news feed|Social trading features|Regular updates
Cons: Currency conversion fee exists
The only good thing about WCG Markets Ltd is that they remind you why regulation matters. I found them after a trusted YouTuber reviewed them. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Low minimum deposit|No hidden fees|Regular platform improvements|Easy to use platform
Cons: No live chat on mobile|Onboarding videos are outdated
Tried to withdraw my funds from WCG Markets Ltd and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Blocked my account|No legitimate license|Fake returns