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Wealth Guardian Review - is it scam or safe?

Wealth Guardian review - Is wguardian.com scam or good forex broker?

RATING: 3 / 0 REVIEWS Wealth Guardian
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Wealth Guardian is a CySEC regulated forex and CFD broker, which operates in partnership with Interactive Brokers LLC. - one of the biggest brokers in the US. 

 

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

 

Wealth Guardian advantages:

 

Sound regulation

 

W.G. Wealth Guardian Ltd is based in Cyprus and is registered and regulated by the Cyprus Securities and Exchange Commission (CySEC).

 

Trading with a properly licensed broker is crucial for the safety of any investment and CySEC along with  Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investment Commission and the National Futures Association in the US, is among the most respected financial authorities in the industry. 

 

Properly regulated brokers are obliged to follow strict fiscal and ethical rules, including to maintain a minimum capital adequacy ratio, to keep all clients money in protected, segregated accounts and in some cases even to insure traders capital. 

 

Under the CySEC backed Investor Compensation Fund for example, in case something with the broker goes wrong, traders can receive back up to 20 000 EUR of their capital. Similar compensation scheme with FCA in the UK guarantees traders up to 50 000 GBP of their investment. Here you may check our list of brokers, also licensed by CySEC:

 

>>Forex brokers in Cyprus<<

 

On top of that Wealth Guardian operates in partnership with Interactive Brokers LLC., which holds a  National Futures Association license.

 

Various trade instrument classes

 

Through their partnership with Interactive Brokers, Wealth Guardian offer the full specter of trading instruments and market depth available with the platform of the American broker.  Apart form the 22 currencies - USD, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RUB, SEK, SGD, ZAR and KRW and various CFDs, the broker also offers a wide variety of stocks, options, futures, futures options (FOPs), Exchange Traded Funds (ETFs), warrants, Structured Products of European exchanges, single stock futures (SSFs), spot metals, indices, bonds and funds.

 

Trader Workstation offered

 

Trader Workstation is a proprietary trading platform specifically designed for Interactive Brokers, which allows traders and investors to trade stocks, options, futures, forex, bonds and funds on over 100 markets worldwide from a single account. 

 

 

And though the main advantage of the platform is the access traders get to a whole universe of trading instruments and markets, this is its main disadvantage as well. The platform looks a bit overcrowded,  and if you are into trading for the forex and simple CFD bets alone, you will probably feel much more comfortable with the well known MetaTrader4. So here you may check our list of brokers, offering the MetaTrader4:

 

>>Find other MT4 brokers here<<

 

Wealth Guardian disadvantages:

 

Unspecified trading conditions

 

We could not find any information about the trading conditions on the broker's web page and as the Demo account was not fully functioning, we could not test the trading conditions as well. 

 

Still, we may say a few words about the spreads offered by Interactive Brokers. If we are talking forex, they provide a true ECN service with spreads starting as low as 0,1 pip. They also apply a commission, tier based on monthly volumes, where the minimum is 2 USD (or currency equivalent) per order, which basically adds 0,4 pips to the spread. This, however, we should stress again, are the Interactive Brokers trading conditions, not Wealth Guardian's and we can not be sure what spreads or additional commission the Cyprus based broker will ask for.

 

The main benefit of trading with the Interactive Brokers platform, however, is the direct access to the stock markets, where for example you can trade with US stocks with a commission of just 1 USD per order or 0,005 USD per traded share. However again, those are Interactive Brokers numbers and we can not be sure what Wealth Guardian will ask. So, here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Unspecified minimum deposit requirement

 

Unfortunately there is no information on Wealth Guardian website about the minimum deposit requirement as well. From the Interactive Brokers presentation we learn that the minimum deposit for Introducing broker clients is set at 200 USD. That means the minimum investment with which you can start trading with Wealth Guardian could be 200 USD as well, but we can not be sure. 

 

That is why we put this as a negative. Have in mind that with most brokers you can start trading with less than 250 USD, while some big names like FBS and IG does not have a minimum deposit requirement at all.

 

No information about the payment methods

 

There is no information about the payment methods as well. We should note that with most brokers you can deposit or withdraw funds via all major credit or debit cards like VISA and MasterCard, e-wallets, such as Skrill, Neteller and PayPal and bank wire. However, as crypto payments are getting more and more popular, here you may also want to check our list of brokers accepting bitcoin.

 

Conclusion:

 

Wealth Guardian is a CySEC regulated broker, offering, through its partnership with Interactive Brokers, access to a wide variety of trading instruments on the Trader Workstation platform. 

 

On the negative side we should point out that the Cyprus based broker has not disclosed its trading conditions, nor its minimum deposit requirement and that is clearly a set back.

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Traders` reviews for Wealth Guardian

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