Wilma Financial Institute (wfionline.com) has been flagged by ASIC (Australia) for "Unlicensed". Addresses: 385 East Colorado Boulevard Pasadena CA 91101 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.wfionline.com.
I opened an account with Wilma Financial Institute (wfionline.com) since I opened my account last year ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Intuitive for beginners|Stable platform|Market news feed|Helpful community forum
Cons: Limited ETF selection
The onboarding at Wilma Financial Institute (wfionline.com) 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: Demo account available|Clear documentation
Cons: No phone support on weekends|Currency conversion fee exists
My card was charged twice by Wilma Financial Institute (wfionline.com) on the same day. I had to dispute it with my bank. Wilma Financial Institute (wfionline.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: High security standards|Good analytical tools|Customizable dashboard|Clean UI
Cons: Email notifications too frequent
I wanted to transfer my portfolio from another broker to Wilma Financial Institute (wfionline.com). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Segregated accounts|Economic calendar
Cons: Could offer more webinars|No dark mode on mobile
Wilma Financial Institute (wfionline.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: Market news feed|Regular platform improvements
Cons: Wish they had more educational resources|No integrated tax optimization