Weqobit has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The so-called education at Weqobit is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for close to eighteen months thinking they would help me learn.
Pros: Dividend tracking|Educational resources|Social trading features|Multi-currency support
Cons: Charting tools need more indicators|No integrated tax optimization
KYC with Weqobit is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Risk management tools|Professional team
Cons: Wait times can be long during peak hours
The reporting at Weqobit is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Automated trading options|Multiple order types|Copy trading available|Good mobile app
Cons: Would like more payment methods
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Weqobit recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Smooth onboarding|Economic calendar
Cons: Charting tools need more indicators|Help articles are sometimes vague