Wisdom Elite Pro has been flagged by The Dutch Authority for the Financial Markets for "Fraud and Other Types of Misconduct". The Netherlands Authority for the Financial Markets (AFM) warns consumers not to respond to offers from Wisdom Elite Pro. This company is a suspected boiler room, a form of online investment fraud. Wisdom Elite Pro has approached persons without being asked, to offer them investment proposals. A ... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: https://www.wisdomelitepro.com/.
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Wisdom Elite Pro has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Cons: Unauthorized firm|Found in IOSCO warnings database
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: Flagged by international regulators|Due diligence required
The spread at Wisdom Elite Pro is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after doing extensive research and initially thought the platform was good - until I started trading seriously.
Pros: Social trading features|Good analytical tools|Wide product range
Cons: Spreads widen during volatile periods|Charting tools need more indicators
I wanted to transfer my portfolio from another broker to Wisdom Elite Pro. 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: Easy withdrawals|Easy to use platform|Fast deposits
Cons: Limited social trading features|Withdrawal takes 1-2 business days
Do not be fooled by the professional-looking website. Behind the scenes, Wisdom Elite Pro is disorganized and incompetent. I found them after a trusted YouTuber reviewed them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Clean UI|Good analytical tools
Cons: Limited social trading features|Account statements could be more detailed
Tried to withdraw my funds from Wisdom Elite Pro and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Blocked my account|No legitimate license|Fake returns
I was contacted by Wisdom Elite Pro through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
My card was charged twice by Wisdom Elite Pro on the same day. I had to dispute it with my bank. Wisdom Elite Pro 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|Helpful community forum
Cons: Limited ETF selection|Limited cryptocurrency options
KYC with Wisdom Elite Pro 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: Good analytical tools|Real-time alerts|Instant funding|Clean UI
Cons: Slow to add new assets|Search feature is basic