WEALTHSIMPLES 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 trusted WEALTHSIMPLES with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Competitive fees|Regular updates|Stable platform|Regular platform improvements
Cons: Limited social trading features
I have been trying to close my account with WEALTHSIMPLES for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Portfolio tracking tools|Multi-currency support|Dividend tracking
Cons: No phone support on weekends
After using WEALTHSIMPLES since I retired last year, 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: Economic calendar|Two-factor authentication
Cons: No dark mode on mobile
Several red flags with WEALTHSIMPLES: (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: Flagged by Financial Conduct Authority|Cannot verify credentials
WEALTHSIMPLES offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Low minimum deposit|Regular updates|No hidden fees|Market news feed
Cons: Limited demo account features|Website design could be more modern
After doing some research AFTER the fact (I know, I should have done this first), I discovered that WEALTHSIMPLES is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics