WisecapitalX Review: “Broker Level One” or a SCAM?

WisecapitalX - logo

In this review of WisecapitalX, we’ll explore the claims of this broker that proudly labels itself as “Broker Level One.” While such an ambitious self-designation might pique curiosity, it’s essential to approach such assertions with skepticism. Hence, we are about to delve into the depths to determine whether this company truly lives up to its self-proclaimed excellence or if it’s merely another addition to the ever-growing list of scam companies.

WisecapitalX General Information

Website https://wisecapitalx.com/
Phone Number
Minimum Deposit $250
Assets CFDs
Leverage Up to 1:200
Trading Platform WebTrader

Registration and Client Portal Review

The official WisecapitalX website adopts a rather simplistic appearance. It features a concise white-and-green design, a user-friendly menu, and is available exclusively in English. Remarkably, there is very little information readily available about the broker on this website. Most essential details are notably scarce, requiring a diligent investigation. Furthermore, the site heavily relies on template techniques and clichéd phrases, such as praising the broker’s excellence, which, upon closer examination, often reveal themselves to be nothing more than empty words.

WisecapitalX - website

To open an account with WisecapitalX, you’ll need almost nothing at all. Just fill out a form with your first and last name, phone number, and email. Surprisingly, there are no verification messages sent to your email. The broker completely disregards the rules of verifying contact details. This is problematic for several reasons. The lack of verification may expose your personal information to potential breaches, as there’s no assurance of data protection. Without proper email verification, there’s a heightened risk of unauthorized or fraudulent account creation. It leaves your account vulnerable to misuse.


The Client Portal is seamlessly integrated with the client portal, providing a user-friendly experience. You can easily update your personal information, including name, contact details, and preferences. Also, the platform supports various non-trading functions, allowing you to deposit or withdraw funds, access transaction history, and manage your financial resources efficiently.

The simplicity of the design is intended to make navigation and access to key functions as convenient as possible for users.

WisecapitalX - Client Portal

WisecapitalX Trading Conditions

To be known as a broker of the number one caliber, it is essential to provide a multitude of benefits and features to your clients. Let’s take a closer look at whether WisecapitalX lives up to this standard.

Account Types Review

The broker offers four types of accounts, which are named fairly standardly: Basic, Gold, Platinum, and VIP. These accounts differ in several parameters, such as the minimum deposit, leverage, and additional services. For instance, in the Basic account, you only need to deposit $250, while in the VIP account, you’d require a deposit of $500,000. The leverage varies from 1:10 to 1:200. Interestingly, lower-level accounts have lower leverage, while it strangely increases as your deposit grows. This suggests that WisecapitalX does not actually execute orders in the interbank market, as leverage of 1:200 is not typically found there. Furthermore, accounts above the basic level may offer a swap discount of up to 75%, but the specific commission rates and spreads are not provided in the account descriptions.

Trading Platform

The trading terminal offered by WisecapitalX leaves much to be desired, especially for those traders who are accustomed to comprehensive, feature-rich trading platforms. It’s important to note that this is a web-based version; there is no desktop or mobile application available.

The terminal provides a minimal set of basic functionalities with a lack of more advanced tools that experienced traders often rely on. This limitation becomes evident when compared to industry standards.

First and foremost, the absence of a desktop or mobile app means you can only access the terminal through your web browser. This lack of versatility can be inconvenient for traders who prefer a more flexible and responsive experience.

In terms of indicators, the platform offers only the most basic ones. You’ll find moving averages, Bollinger Bands, and perhaps a couple of oscillators like RSI or MACD. These are essential, no doubt, but they constitute a limited toolkit for those who depend on a more diverse range of technical analysis tools.

Furthermore, charting capabilities are rudimentary at best. The charts are often not as customizable as those offered by other reputable brokers, and you might not have access to multiple time frames or advanced drawing tools.

WisecapitalX — Deposit and Withdrawal of Funds

WisecapitalX offers rather limited options for funding your trading account. In the website’s footer, you can find references to Visa and MasterCard as the only available payment methods. Unfortunately, there is a complete lack of information regarding the fees associated with withdrawals. The broker doesn’t disclose any details about the time it takes to process withdrawal requests either.

This lack of transparency can be a significant concern for traders, as they might end up facing hidden fees or unexpected delays when attempting to withdraw their funds.


WisecapitalX offers a verification process within its user portal. This procedure is essential for confirming the identity of traders and is a common practice among legitimate brokers. The verification process at WisecapitalX involves several steps, as outlined below:

  • Traders need to provide personal information such as their full name, date of birth, and contact details.
  • To verify their identity, traders must submit a copy of a valid government-issued photo ID, such as a passport or driver’s license. This helps confirm that the account holder is indeed the person they claim to be.
  • Traders should also provide proof of their residential address. This can be done by submitting a utility bill, bank statement, or any official document that displays their name and address.

Verification may extend to payment methods used for deposits and withdrawals. Traders may need to provide additional documents, such as a copy of the credit card used for deposits or a bank statement showing the transaction.

Additional Options

WisecapitalX offers an array of additional services, although upon closer inspection, their practicality may be questioned. Let’s delve into some of these services to get a better understanding.

WisecapitalX provides access to a “wealth manager.” However, one might wonder what a wealth manager can truly offer, especially to traders who are accustomed to managing their own investments. Do you really need someone else handling your account? For many traders, the answer is a resounding “no.”

WisecapitalX also boasts 24/7 account monitoring by specialists. But does your account really need constant surveillance? It’s more likely that traders prefer autonomy in managing their accounts, without feeling like someone is perpetually looking over their shoulder. In fact, some might say that their accounts prefer a little more privacy.

In general, it appears that many of the additional services offered by WisecapitalX might not be as indispensable as they initially seem.

Is WisecapitalX a Scam?

Now, let’s delve into a topic of no less significance: the overall legitimacy of this broker’s operations.

We were very interested in the legal information about WisecapitalX. In the footer, the company’s name is provided, along with the mention of its registration in the Marshall Islands. We cross-referenced this with the Marshall Islands’ corporate registry and indeed found a company with the same name, incorporated back in 2021. However, the registry from the Marshall Islands is sparse in information, and we couldn’t gather much more. Nonetheless, one thing we know for sure is that forex brokers in this jurisdiction are not licensed. In essence, this intermediary lacks any documented authority to provide brokerage services.

Legal data check

Wisecapitalx.com Domain Info

We have serious doubts as to whether the company mentioned has any relation to the subject of our review. As we mentioned earlier, this company was incorporated in 2021. Meanwhile, WisecapitalX only began operating in August 2023. A simple domain check confirms this. So, what kind of “Broker Level One” only started two months ago?

Domain info

Contacts Review

As for their contact methods, it’s a complete mess with WisecapitalX. The website only provides a contact form. What is that? Do reliable brokers ensure customer support through such means? Absolutely not; it’s absurd. However, what else could we expect from a broker that has only been in operation for a couple of months?

More Details

On the flip side, WisecapitalX has thoughtfully arranged remote access to your computer. They suggest downloading software like AnyDesk or TeamViewer. We strongly advise against doing this. Allowing remote access to your computer poses significant security risks. You’re essentially giving a third party access to your personal data and, in some cases, control over your computer. This opens the door to potential security breaches, data theft, or unauthorized actions on your system.

Pros and Cons

  • WisecapitalX offers a low minimum deposit requirement, making it accessible to traders with limited capital.
  • Lack of regulation.
  • Sparse website.
  • Poor user experience.
  • Limited contact options.
  • Dubious software downloads.

WisecapitalX Summary

WisecapitalX - favi

Engaging with WisecapitalX doesn't seem like a wise choice. Offshore zones, in general, are notoriously poorly regulated, and dealing with brokers in such jurisdictions can lead to complications. If anything goes wrong, resolving issues can be a time-consuming and frustrating process. Given the lack of transparency, limited contact options, and questionable practices, it's far more advisable to choose a broker that operates under well-established regulatory frameworks and offers a higher level of security.

Website information content 3
Client Portal 3
Trading conditions 4
Trading platform 4
Deposit and withdrawal 3
Verification 4
Extra options 3
Licenses and guarantees 2
Work duration 1
Feedback 3

Frequently Asked Questions (FAQ)

What Does WisecapitalX Offer?

WisecapitalX claims to offer online trading services in various financial instruments, including Forex and cryptocurrencies.

How Much Money Should I Invest With WisecapitalX?

According to their trading conditions, the minimum deposit requirement for WisecapitalX is $250. However, it’s essential to proceed with caution when investing with this offshore broker, as there are significant concerns about their legitimacy and transparency.

Is WisecapitalX Safe?

No, WisecapitalX cannot be considered a safe option. It operates as an offshore broker with limited regulatory oversight.

Subhash Mishra
Forex & CFD Trader

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

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Client Reviews

  1. Jorge


    I understood that there were many scammers on the internet, and when I wanted to collaborate with a broker, I carefully examined their legal information. It seemed like a genuine registration number, and WisecapitalX had a substantial history, having been on the market for almost three years. So, why not open a trading account with them? After all, it’s a simple process that only requires registration and then personal data verification. However, after taking these steps, I decided to start trading in the forex market, and that’s when I noticed something peculiar – the quotes didn’t match reality at all. It was at that point I decided it was time to withdraw my funds and end the collaboration, but they didn’t pay me; instead, they blocked my account. Oh, how I cursed and tried to reach out to them to express everything I thought about them and their company. Then, I read reviews from other traders and realized that WisecapitalX was all a scam, and that their entire backstory was completely fabricated.