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BaFin joins FCA and other regulators in warning against Wise Banc

Apr 17 2019
By
Jonathan Smith

 

Germany’s federal financial supervisory authority (BaFin) warned against Wise Banc and ordered it to cease offering cross-border proprietary trading services to German investors.

 

A brief review of the broker’s website (www.wisebanc.com) reveals that it offers trading in wide range of financial instruments, including cryptocurrency CFDs on some web-based platform. This is not the first time that Wise Banc has sparked regulatory concerns. The broker, which allegedly operates out of Bulgaria, has already been blacklisted by the Bulgarian Financial Supervision Commission (FSC), New Zealand’s Financial Markets Authority (FMA), and the Financial Conduct Authority (FCA) in the UK.

 

Judging by the plethora of negative user reviews on uploaded on Forexbrokerz.com, Wise Banc has swindled a lot of traders out of their money, so you’d better stay away from this scam.

 

Considering how many reputable financial regulators have warned the public about Orion Service EOOD (the company that allegedly operates Wise Banc), and the plethora of negative user reviews on uploaded on Forexbrokerz.com, it is clear that this company is running some sort of investment scam.  In order to avoid being swindled out of your money and to have proper protection, you’d better deal only with regulated financial services providers.

 

 

>> A list of reliable forex brokers operating in Germany <<

 

 

TAGS: BaFin  warning  Wise Banc  Germany  scam  regulation 

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