Wheoo (wheoo.com) has been flagged by ASIC (Australia) for "Unlicensed". 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.wheoo.com.
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Wheoo (wheoo.com) recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: High security standards|Easy withdrawals
Cons: Onboarding videos are outdated
After for a couple of months now with Wheoo (wheoo.com) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Helpful community forum|Multi-currency support
Cons: None so far
After using Wheoo (wheoo.com) for nearly two years, 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: Full transparency|Good mobile app
Cons: Spreads widen during volatile periods
Wheoo (wheoo.com) 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: Helpful community forum|Good analytical tools|Regular updates
Cons: None so far|Nothing significant
The reporting at Wheoo (wheoo.com) 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: Multiple order types|No hidden fees|Reliable uptime|Instant funding
Cons: No integrated tax optimization|Limited cryptocurrency options
The platform at Wheoo (wheoo.com) is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After since early this year of dealing with this, I have had enough.
Pros: Regular updates|Multi-device support|Risk management tools
Cons: Slow to add new assets
My card was charged twice by Wheoo (wheoo.com) on the same day. I had to dispute it with my bank. Wheoo (wheoo.com) then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Customizable dashboard|Educational resources|No hidden fees
Cons: No crypto staking|Search feature is basic
Wheoo (wheoo.com) advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Easy withdrawals|Great customer service
Cons: Minimum deposit could be lower|No dark mode on mobile
Do not use Wheoo (wheoo.com) for anything serious. I used them for about three months for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Low minimum deposit|Social trading features
Cons: Help articles are sometimes vague
The mobile app from Wheoo (wheoo.com) 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: High security standards|Dedicated account manager
Cons: No dark mode on mobile|Withdrawal takes 1-2 business days