Wisebit AI has been flagged by The Dutch Authority for the Financial Markets for "Market Manipulation (pump and dump schemes, wash trades, etc.)". The Netherlands Authority for the Financial Markets (AFM) warns consumers not to respond to offers from Wisebit AI. This company is a suspected boiler room, a form of online investment fraud. Wisebit AI has approached persons without being asked, to offer them investment proposals. A bo... 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.wisebitai.pro/.
Wisebit AI changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Fast deposits|Real-time alerts
Cons: Could offer more webinars
Tried to withdraw my funds from Wisebit AI 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.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
I looked into Wisebit AI and found they appear in the regulatory warnings database. The Dutch Authority for the Financial Markets has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Appears in regulatory warnings database|Uncertain regulatory status
The spread at Wisebit AI is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them from a review site like this one and initially thought the platform was good - until I started trading seriously.
Pros: Two-factor authentication|Fast support response|Responsive team|Competitive fees
Cons: Spreads widen during volatile periods|Some tools only available on higher tiers
I have been trying to close my account with Wisebit AI for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Social trading features|Two-factor authentication|API access|Reliable uptime
Cons: Live chat only during business hours|No integrated tax optimization
I gave Wisebit AI a fair chance. After for a couple of months now 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: Helpful community forum|Two-factor authentication|Clear documentation|Low minimum deposit
Cons: Slow to add new assets
I wanted to transfer my portfolio from another broker to Wisebit AI. 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: Multiple order types|Helpful community forum
Cons: Slow to add new assets
The so-called education at Wisebit AI is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for about ten months thinking they would help me learn.
Pros: Good mobile app|Regular updates|Automated trading options|Tax reports included
Cons: Limited ETF selection
Several red flags with Wisebit AI: (1) They promise unrealistically high returns, (2) They're not registered with The Dutch Authority for the Financial Markets, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Unauthorized firm|Found in IOSCO warnings database