Wendel EU Broker Analysis

Feeling torn between several popular exchanges and unsure how to streamline the cryptocurrency trading process? Can’t decide where the Bitcoin price is more favorable? No worries. The cryptocurrency aggregator Wendel EU is here to help. Now you can keep your portfolio with all the crypto in one place. However, wait, is it possible? After all, we haven’t checked if it’s a scam. So let’s get started and provide all the answers in our review.

Wendel EU General Information

Registration and Client Portal Review

Well, you wouldn’t guess from Wendel EU’s official website that they’re some kind of aggregator. Everything is very minimalist and, how should we put it, vague. Generally, websites where you can barely understand what the project is about aren’t highly regarded by us. So, guess what rating we would give to this creation. Seriously, though, the project has taken a complicated path and immediately made everything more confusing. It only directly answers the question of what it does in the “About Us” section. On the homepage, visitors will encounter a bunch of confusing phrases that are sure to mislead them. What’s even funnier is that the information on the official website isn’t consistent. Wendel EU claims to support 25+ accounts. Yet, a little further down the page, it says a whopping 70+. That’s a significant difference. It wouldn’t hurt to make up their mind. And of course, contrary to all these unsubstantiated claims of the project’s innovativeness and other things about itself, you won’t find a word here about its history.

Creating an account here is indeed very simple. Despite Wendel EU promising two-factor authentication, you wouldn’t know it from the registration form. You fill out just a few fields, including your name, email, and phone number. However, confirmation codes don’t arrive there. They might, of course, be sent later to your account. Meanwhile, for now, they’re not. Consider this a serious security flaw.

Furthermore, it’s not ideal that the trading terminal here is combined with the dashboard. Traders may have different preferences and requirements for their trading setup. By integrating the trading terminal with the dashboard, the platform limits customization options and may not cater to the diverse needs of its users effectively.

In the client portal, there are many errors popping up, and we’re unsure what’s causing them. It could be because we’ve just registered the account and are yet to undergo verification, or it could be that Wendel EU simply hasn’t finished something. Regardless, all these error messages popping up are annoying. By the way, the functionality of the dashboard is a bit unintuitive. That’s probably because the project has an unconventional working model.

Wendel EU Trading Conditions

Let’s move on to the most interesting part, shall we?

Account Types Review

You do understand that it’s not in the best interest of a crypto aggregator like Wendel EU to provide its services for free, right? We mean, if it gives you access to exchanges and you trade peacefully, what’s in it for them? Nothing, of course. So, logically, Wendel EU offers a subscription. There are three options available, which partially explains why the client portal seems quite empty. They’ll show you everything else once you transfer the money. So, here are the options:

• The first is the Basic subscription, priced at $249.95 per month. You get a whole 7 days free, access to three exchanges (though it’s not clear if you choose them or Wendel EU provides them at their discretion), and a comparison order book. That’s it.
• Next is the Pro account, which costs $495.95 per month. With this, you get access to five exchanges, Portfolio management, and 20 trading slots. Trading slots typically refer to the number of concurrent trades a user can have open at any given time within their account or trading platform. It’s essentially a limit on the number of active trades that can be executed simultaneously. For example, if Wendel EU offers 20 trading slots as part of a subscription plan, it means the user can have up to 20 different trades open at the same time.
• Finally, there’s the Hero account, priced at $999.95. With this, you get Multiple fiat markets access, Download Arbitrage Data, Portfolio management, access to 15+ crypto exchanges, and a Personal Onboarding manager. You might ask, what are fiat markets? It’s hard for us to say exactly how Wendel EU plans to provide you access to trading with fiat currencies through them. It’s unlikely they’re referring to the actual interbank forex market.

Well, if you’re not a hardcore crypto enthusiast juggling dozens of portfolios, we’re struggling to see why you’d need Wendel EU’s services, especially at such a price point. They might come in handy for arbitrage purposes because comparing prices across different exchanges is convenient. However, hey, free price screeners exist out there.

Trading Platform

We have many questions regarding the trading platform of Wendel EU as well. Firstly, it hasn’t been properly showcased to us. The charts either didn’t load or are simply unavailable in the free version, and we’re not sure which. Later, the terminal finally loaded, and it turned out to be the old familiar TradingView — a typical solution for most cryptocurrency exchanges. Well, why not.

While there’s the option to open an order, here’s where it gets interesting. Are we opening orders on the chosen exchange or solely on this platform? That’s the question. For the first scenario, Wendel EU would need to be an official partner of all the exchanges listed here, essentially acting as a cryptocurrency broker-intermediary. However, we strongly doubt that any of the exchanges heard of this project. In the second scenario, it’s even worse. What’s the point of opening trades on an unfamiliar platform that’s unlikely to be connected to real exchanges? It’s simply a risk.

Wendel EU — Deposit and Withdrawal of Funds

The Wendel EU deposit form has driven us to frustration. The problem is that you can only select the amount, and this darn calculator will show you how much you need to send for the deposit, taking into account the fees. There are five currencies available, like dollars, euros, and so on. However, they don’t immediately show if fiat deposit methods are available. By this, we mean credit and debit cards, bank transfers, and the like. Well, at least we know we can transfer money to them in cryptocurrencies. That’s for sure. There’s a calculator for converting money into crypto at the current rate. For everything else, it’s obvious we’ll need to go through verification.

Verification

And here’s where we’ve had a myriad of thoughts. Verification is undoubtedly a very good thing. Well, here’s the problem. It’s needed by Wendel EU if it’s truly a project connected to major exchanges. However, we don’t see any indirect signs hinting at this yet. And sharing our important data with just anyone is not a practice we’re keen on. Overall, the verification process here seems standard. Copies of documents will be required, including ID. However, how long the verification process will take is not indicated.

Additional Options

Wendel EU offers Paper trading. In other words, with a Papertrading account, you can trade on the platform without needing actual cryptocurrencies or an exchange account. This allows you to practice trading like a professional without any associated risks, and also lets you experiment with new trading strategies before implementing them on your real account.

The project may have labeled it differently, but it seems they offer a demo account. If available, this is certainly beneficial, although it’s challenging to find traces of it in the client portal. Additionally, Wendel EU provides trailing stops, which is also great. However, once again, this is a typical feature offered by most reputable exchanges.

Is Wendel EU a Scam?

We certainly have a plethora of questions accumulated about Wendel EU. However, let’s finally satisfy our curiosity and see what it represents in terms of legitimacy.

Legal Information and License

Based on available information, Wendel EU appears to only work with centralized exchanges. In such a case, one might conclude that the firm itself is centralized. Well, is it really? The issue lies in the fact that there is not a single mention of the managing company on the website. While there is a link to the trading terms in the footer, accessing them requires mandatory registration. This is not a good sign, as intermediaries should not hide their documents behind closed doors.

Therefore, we can only draw conclusions based on the contact details provided. Wendel EU lists a British phone number. Let’s see if there is such a company in Britain. The answer is obvious — no. And if it were genuinely registered, it wouldn’t hide this information, including details about its CEO and community.

Wendeleu.com Domain Info

Here’s another fact to ponder. Wendel EU states in its statistics that it processes over 100,000 orders daily on its platform. Can you imagine the number of its users? Now, consider that this project’s website was created in November 2023. And if you try to read reviews about it, you’ll notice they’re all dated 2024. So, what do you think? Could such a project amass such a huge client base in just a few working weeks? Of course not, they’re simply lying to you. Wendel EU is a newcomer.

Contacts Review

As we’ve mentioned before, Wendel EU provides a British phone number and an email address for contact. Additionally, in the client portal, you can submit a support ticket. However, it’s not a live chat but rather a ticket form. You’ll still have to wait for a response, and they don’t specify how long that might be.

Pros and Cons

2.8 TOTAL SCORE

Wendel EU Summary

Overall, this project looks extremely dubious. If you don't have a pressing need for it, stick to free screeners and trade on reputable exchanges. Wendel EU doesn't inspire any trust due to its secrecy and unclear operating mechanism.

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Website information content 3

Client Portal 4

Trading conditions 3

Trading platform 4

Deposit and withdrawal 3

Verification 3

Extra options 3

Licenses and guarantees 1

Work duration 1

Feedback 3

Frequently Asked Questions (FAQ)