Note: Brokers Complaint Community has conducted much research before flagging Wobit.io as a possible scam in this Wobit.io Review.
Wobit.io Review: Introduction
Wobit.io claims to be a cryptocurrency exchange which is based out of the Netherlands. Yet another brokerage firm claiming to be the best with valuable customers from around the world, Wobit.io has left no words left for bragging. If you are here with the intention of knowing whether Wobit.io is a scam broker or legitimate, stay tuned till the end and decide by yourself. If you have been scammed by Wobit.io, don’t worry anymore, we have just the right solution for you too. Read till the end of the review to know what to do.
In this section, we will be specifically talking about the red flags hoisted by Wobit.io.
Is Wobit.io regulated by any of the regulators?
Regulation is one of the most vital pieces of information that every trader must know about the brokerage firm they are investing with. Whether you are new to the financial market or an experienced trader, the first step to look for is to check whether the brokerage firm is regulated. In our case, Wobit.io does not state any kind of information as to which regulation the company is regulated with or the license number or anything like that. Upon checking with the regulations of the Netherlands, given the fact that Wobit.io claims to be located in the Netherlands, it was made clear to us that Wobit.io is neither regulated by the regulation of the Netherlands or any other regulation. From this, it can be made clear that Wobit.io is UNREGULATED. We warn our readers from trading and investing with any unregulated brokerage firm as your money is never safe with them.
What is the minimum deposit demanded by Wobit.io?
Minimum initial deposit is yet another crucial factor that is used in deciding whether a company is a legitimate brokerage firm or a scam broker. The legitimate brokerage firms usually demand a minimum initial deposit below $10 as advised by the regulations. However, these rules are not followed by the scam brokers and therefore, the minimum initial deposit demanded by scam brokers is much higher. In our case, Wobit.io demands a minimum initial deposit of $250 from their customers. This is clearly a huge minimum deposit and therefore gives us a red flag against the Wobit.io scam in this Wobit.io review.
What is the trading platform offered by Wobit.io?
As expected by Wobit.io by now, we realized that Wobit.io does not use either Metatrader 4 or MetaTrader 5 as their trading platform. Instead, the brokerage firm offers a random web trading platform to their customers which just worsens Wobit.io’s situation at the moment by giving us yet another red flag against the Wobit.io scam in this Wobit.io review.
Wobit.io Review Conclusion: Is it a scam or legit?
To conclude, we can say that Wobit.io is a potential scammer and we warn our readers against using this brokerage firm for trade and investment. If you have been scammed by Wobit.io, file a complaint with us and we will help you out.
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