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AdvisorWealth Review - is it scam or safe?

AdvisorWealth review - Is advisorwealth.co scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz AdvisorWealth
AdvisorWealth is an offshore broker. Your money is not safe.

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AdvisorWealth says to be a fully regulated CFD broker, offering an award winning trading platform that gives you the opportunity to trade with a variety of shares online.

 

Account type Min. deposit Max. leverage Spreads/ Payout
Standard Account n/a

n/a

n/a

 

And that might have looked like a nice offer was it not for the fact that what we are dealing here is a virtually anonymous website, which is nowhere near of being licensed and authorized to offer any kind of financial services on regulated markets like the European Union for example.

 

So if you are still considering whether to invest your funds with them better read the following paragraphs. 

 

AdvisorWealth Advantages:

 

We always try to list any possible benefits a broker might offer its customers, and yet here with AdvisorWealth we have no choice but to leave this section empty.

 

AdvisorWealth Disadvantages:

 

Anonymous website, no license

 

Let us start with the simple fact that the AdvisorWealth homepage is completely anonymous – there is no corporate information whatsoever – we do not know the name of the company that runs the whole operation, nor where it is based - there is no physical address, not even a phone number.

 

Needless to say, but the website is not regulated as well. Bear in mind that trading with a properly regulated broker is the only way that you can be sure about the safety of your investment.

 

Unregulated websites like AdvisorWealth on the other hand are generally involved in scam. They do their best to mislead investors to deposit as much as they can, and afterwards use various pretexts to cancel your withdraw requests. 

 

That is possible because unregulated brokers are completely unaccountable for the way they handle your money, and because they are usually based offshore, as well, and it is extremely difficult if not impossible to bring any successful legal action against them.

 

So our best advise here is to trade only with properly regulated brokers, like the once licensed and authorized by well known financial watchdogs like the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC) – the three most popular regulatory hubs in the industry.

 

And with brokers regulated in the European Union, including the UK, you will even get the additional protection of a client compensation fund, covering a significant portion of your trading account. For example, with a FCA broker your funds will be insured for up to 85 000 GBP, so here you may check our list of brokers, regulated in the UK:

 

>>FCA Regulated Forex Brokers<< 

 

Terms and Conditions missing

 

When you register and open a trading account with a new broker you are always asked to agree with certain Terms and Conditions – a key legal document that establishes the contractual relations between you and the broker. And here, with AdvisorWealth that document was nowhere to be found, so basically if you register with them you will have to agree with something you have not read. See for yourself:

 

 

No demo account

 

We were not immediately able to open a demo account with AdvisorWealth and that is why we can not comment on their trading conditions. In any case you can always check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

No information about the trading platform

 

According to their presentation AdvisorWealth uses an award winning trading platform, which unfortunately we were no able to test, as they do not offer a demo account. In fact they do not bother to give any information about the platform – we are not even sure if it is web based or not. 

 

In nay case we do miss the MetarTrader4 – by far the most widely used trading platform in the industry, preferred by beginner and professional traders alike. It features well over 50 modifiable market indicators and a selection of trading robots, with the help of which one can easily run automated trading sessions. And because MT4 also comes with a set of advanced charting tools, here you may check our list of brokers, which do support the platform:

 

>>MT4 Brokers<<

 

No information about the minimum deposit requirement

 

And this is yet another piece of information we miss. Just bear in mind that with the majority of brokers you will be able to open a trading account with about 250 USD, while with some big and well known names like FBS and IG you will be able to start trading with just 5 USD or even less.

 

No information about the payment methods accepted

 

Most brokers accept payments with major credit and debit cards like VISA and MasterCard, bank wire and popular e-wallets like Neteller and Skrill. Here for example you may check our list of brokers, accepting Skrill:

 

>>Brokers accepting Skrill<<

 

Conclusion:

 

AdvisorWealth is an obvious scam – the website is completely anonymous, not to mention that it is not regulated, as it should have been, if they really wanted to target customers on regulated markets like the European Union, Canada, Australia or the UK. So once again we will repeat our general advise to trade only with properly regulated brokers, licensed and authorized by well known institutions like the FCA in the UK, CySEC in Cyprus or ASIC in Australia.

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Traders` reviews for AdvisorWealth

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