WilsonPartner calls itself an excellent trading solution for financial markets. Of course, the broker attempts to convince us that opening an account on its platform will instantly lead to financial success. However, we have heard many such claims before and are not inclined to believe them without thorough examination. Therefore, we are undertaking a comprehensive review of this project to ensure that it is a scam or, conversely, a legitimate opportunity.
- WilsonPartner General Information
- Registration and Client Portal Review
- WilsonPartner Trading Conditions
- Account Types Review
- Trading Platform
- WilsonPartner — Deposit and Withdrawal of Funds
- Additional Options
- Is WilsonPartner a Scam?
- Legal Information and License
- Wilsonpartner.com Domain Info
- Contacts Review
- Pros and Cons
WilsonPartner General Information
|Schaanerstrasse 27, 9490 Vaduz, Liechtenstein
Registration and Client Portal Review
Well, we are greeted with an image of two seniors who seem to be celebrating something. If we were to guess, we’d think they won the lottery. However, based on what we are describing, it is, after all, the broker’s website, and perhaps they managed to strike a lucrative deal. What’s the point of all this? WilsonPartner, with just one splash screen, clearly indicated its target age group. It’s evident, and debates are pointless. Meanwhile, the website itself is not exactly well-crafted. There is clearly insufficient information about the company, and the trading conditions are described very superficially. Also, it’s worth noting that the site is only available in English and German.
Registration on the WilsonPartner website is quite straightforward. You’ll need to fill in a few fields with your contact information and create a password. Keep in mind that it’s advisable to create a strong password since the broker doesn’t verify your contacts. It doesn’t send any verification codes to your email or phone. Consequently, your account may not be very secure.
After completing the registration, you’ll immediately land in the Client Portal. It is integrated with the platform, and it’s not very convenient. The seamless connection between the two interfaces might lead to potential security vulnerabilities. Despite having some basic functions, the client portal falls short. Certainly, it lacks anything that WilsonPartner promises to its clients as additional services.
WilsonPartner Trading Conditions
Now, let’s delve into the examination of the trading conditions. It’s crucial to ensure that this broker is a sound choice for entering the financial markets.
Account Types Review
Unfortunately, WilsonPartner does not offer a demo account, meaning you’ll have to commence trading directly with a live account. The company has prepared six account types to choose from. You can start with the Student account, requiring a minimum deposit of 250 euros and featuring spreads starting from 3 pips. Additionally, the broker offers one educational session on utilizing trading indicators.
The next tier is the Standard account, requiring a deposit of 5,000 euros, with spreads starting from 2 pips. Consultations are provided twice a week. The Islamic account, necessitating a deposit of at least 10,000 euros, promises no withdrawal fees or hidden charges, and detailed information can be clarified with a manager.
Moving up, the Investor, VIP, and VIP Platinum accounts demand substantial deposits of 100,000, 500,000, and a whopping one million euros, respectively. Services in these accounts significantly differ from the previous ones, including features like Dealer Mode, PAMM Account, and even personalized trading strategies.
The VIP Platinum account pledges a 1:5 leverage for trading cryptocurrencies. It’s worth noting that the broker remains silent on the leverage details for other accounts.
WilsonPartner exclusively provides a web-based trading platform, and unfortunately, there is no dedicated mobile application or downloadable desktop version. The web terminal, while functional, has notable drawbacks. It falls short in terms of indicator variety, offering a limited selection. The user interface, deemed not very intuitive, may pose challenges for traders. Additionally, the overall toolset available on the platform seems somewhat unconventional.
WilsonPartner — Deposit and Withdrawal of Funds
The company offers various methods for account funding, including Credit/Debit cards, Bank Wire Transfers, QIWI, Webmoney, and Bitcoin. It’s evident that these same payment methods can be used for withdrawals. The minimum withdrawal amount is set at $50, but unfortunately, the specific commission fees are not disclosed. As for the processing time, it spans five business days, which might be considered quite lengthy, especially for withdrawals involving cryptocurrencies or payment systems.
WilsonPartner requires clients to undergo verification as part of their Anti-Money Laundering (AML) and Know Your Customer (KYC) policies. The verification process involves several stages.
After registration, you will be prompted to submit supporting documents to verify your identity. These documents include a government-issued photo ID (such as a passport or driver’s license), proof of address (utility bill or bank statement), and possibly additional documents depending on the jurisdiction.
The submitted documents will undergo a review by the compliance team. Once the verification is complete, you will receive a confirmation regarding the successful verification of your account.
WilsonPartner offers a range of additional services, including a list of various terms that might be unclear to users. For instance, terms like ‘dealer mode’ and ‘investment protection fund’ lack clear explanations. In reputable brokerage firms, client funds are inherently secure as they are held in segregated accounts. Interestingly, although WilsonPartner claims to provide education and analytics, the website lacks examples of analyses conducted by their experts, and crucially, there is no disclosure of their identities and credentials. It’s worth noting that the project remains entirely anonymous, with even the CEO’s identity undisclosed.
Is WilsonPartner a Scam?
Now, let’s dive into the most crucial part and determine whether this broker is reliable or falls into the category of potential scams.
Legal Information and License
The legal information about WilsonPartner is a genuine puzzle. Take a look for yourself. The contact details feature a Liechtenstein address, implying that the company may originate from there. However, the client agreement does not specify which laws govern this broker. Instead, the text mentions the IFSC regulator. For reference, this is the regulatory authority of Belize. Well, how could a company registered in Liechtenstein obtain an offshore license? It’s implausible. In reality, WilsonPartner is not registered in any jurisdiction. There is no mention of WilsonPartner in Liechtenstein or Belize registry. Therefore, we conclude that this company simply does not exist legally and, of course, provides services without a license.
Wilsonpartner.com Domain Info
Another alarming fact is its catastrophically short duration of operation. A quick check on the Whois service was enough to understand that the project is only a few weeks old. The domain was registered on November 29, 2023. Needless to say, reputable brokers cannot operate for just a couple of months.
WilsonPartner suggests using email for communication and provides an address. While there may be no issues with the email, the problem with the address is evident since it is, in fact, fake. Therefore, it’s unlikely that you’ll encounter any managers at the specified office, especially considering that they haven’t provided the working hours.
Pros and Cons
- Straightforward registration process.
- Multiple deposit methods available.
- Lack of transparency in legal information.
- Limited trading platform features.
- Absence of a mobile or downloadable desktop application.
- Unclear and potentially misleading information on additional services.
- Anonymity of the project.