Werodex 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.
Customer support at Werodex 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: Fast support response|Quick verification|Fast deposits
Cons: Email notifications too frequent
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Werodex recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Portfolio tracking tools|Low minimum deposit|High security standards
Cons: Spreads widen during volatile periods|No crypto staking
The mobile app from Werodex is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Tax reports included|Segregated accounts|Fast execution|Excellent charting
Cons: Website design could be more modern|Mobile app could be improved
I gave Werodex a fair chance. After for about three months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Social trading features|Great customer service
Cons: Wish they had more educational resources
I was about to invest with Werodex 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.
Cons: Unauthorized firm|Found in IOSCO warnings database
I want to warn everyone about Werodex. They have been flagged by Financial Markets Authority as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized