Wimexbit has been flagged by Autorité des marchés financiers for "Unregistered/Unlicensed entity offering financial products or services". Wimexbit is not registered with the Autorité des marchés financiers (AMF) and is not authorized to solicit investors in Québec. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: wimexbit.com.
The spread at Wimexbit is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them through a forum discussion and initially thought the platform was good - until I started trading seriously.
Pros: Customizable dashboard|Professional team|Wide product range|Competitive fees
Cons: No fractional shares|Limited cryptocurrency options
Wimexbit had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Easy to use platform|Smooth onboarding|Great customer service|Professional team
Cons: Some tools only available on higher tiers
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Appears in regulatory warnings database|Uncertain regulatory status
Wimexbit has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Segregated accounts|Educational resources|Clear documentation|Good analytical tools
Cons: Would like more payment methods
After seeing ads for Wimexbit online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Autorité des marchés financiers. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Unauthorized firm|Found in IOSCO warnings database
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Wimexbit said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Good analytical tools|Comprehensive tools|Smooth onboarding|Tax reports included
Cons: Slow to add new assets
I invested $3,500 with Wimexbit after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Autorité des marchés financiers.
Pros: Professional looking website
Cons: Lost entire investment|Reported to authorities|Unresponsive
My card was charged twice by Wimexbit on the same day. I had to dispute it with my bank. Wimexbit 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: Multi-currency support|Customizable dashboard|Personal attention
Cons: Limited ETF selection|Could offer more webinars
The onboarding at Wimexbit 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: Risk management tools|Social trading features|Great customer service
Cons: Charting tools need more indicators
Wimexbit 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: High security standards|Fast support response
Cons: No phone support on weekends