Wealth Management Group Ltd has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: +852 5808 1110
Addresses: Suite 2345 26 Harbour Road Wan Chai Hong Kong This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.wmgltd.com.
I had high hopes for Wealth Management Group Ltd after my brother mentioned them, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Multiple order types|Good mobile app|Multi-device support|Automated trading options
Cons: Search feature is basic|Limited demo account features
Customer support at Wealth Management Group Ltd seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Low minimum deposit|Customizable dashboard
Cons: Some tools only available on higher tiers
The onboarding at Wealth Management Group Ltd was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Fast support response|Great customer service|API access|Full transparency
Cons: Wish they had more educational resources
Wealth Management Group Ltd changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Tax reports included|Market news feed|Multiple order types|Excellent charting
Cons: Live chat only during business hours|Help articles are sometimes vague
The spread at Wealth Management Group Ltd is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after hearing about them at a conference and initially thought the platform was good - until I started trading seriously.
Pros: Portfolio tracking tools|Copy trading available|Regular updates|Economic calendar
Cons: Live chat only during business hours
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Wealth Management Group Ltd said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Helpful community forum|Risk management tools|Automated trading options|Quick verification
Cons: Some tools only available on higher tiers
Wealth Management Group Ltd locked my account without warning and demanded documents I had already submitted. for about three months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Fast execution|Clean UI
Cons: Email notifications too frequent
Wealth Management Group Ltd seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Detailed reporting|Low minimum deposit|Quick verification
Cons: Minimum deposit could be lower
I had a dispute with Wealth Management Group Ltd and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Good mobile app|Dedicated account manager
Cons: Website design could be more modern|Live chat only during business hours
After spending since early this year trying to make Wealth Management Group Ltd work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Regular platform improvements|Helpful community forum|Fast execution
Cons: Slow to add new assets|Limited cryptocurrency options