In this Twelve Whales review, we present another Forex and CFD broker where the likelihood of losing your deposit is approximately 100%. Although the company tries to convince traders that working with them is safe and profitable, the signs of a scam are visible on almost every page of their official website. Below, we detail the main problems with this platform and the risks for its clients.
Brief Overview
- 🖥Official Website: https://www.twelvewhales.com/
- ✈️Contact Address: 40 Bank St, London E14 5NR, United Kingdom
- 📞Customer Support: [email protected], [email protected]; +442034792265, +442036578805
- 🔐Licensing and Accreditation: First Floor, First St Vincent Bank Ltd Building, James street, Kingstown, St. Vincent and the Grenadines, Reg № 2305 LLC 2022, No Licenses
- ⏳Track Record: Since 2024
- 🧰Specialization: Forex & CFD broker
- 🤝Terms of Cooperation: mimimum deposit 10,000 EUR, swap-free accounts
- 💰Additional Services: no
Twelvewhales.com Examination
It seems that the official website of the Twelve Whales broker was created in a rush. As a result, the only thing the developers did well was the color scheme of the pages. Everything else, especially the content, is far from commendable.
For example, the footer mentions a registration address in London, while the Terms & Conditions state it’s in Saint Vincent and the Grenadines. It’s strange, isn’t it, to forget where your own company is registered?
They completely forgot to create a page describing the markets and asset groups. It appears the project owners think that clients don’t need to know the contract specifications or the features of the trading instruments offered. There are no clear trading conditions on the website, not to mention useful materials like an economic calendar or a news feed.
We are confident that a legitimate broker that values its reputation would not allow such a website. However, it seems Twelve Whales thinks that just having an online presence is enough.
Company Contacts
In Twelve Whales, contact information and other company details are not included in the main menu but are instead hidden under the “More” section. This decision is not the most logical, especially considering that it crams all the crucial information, from account types to legal documents, into one spot.
On the Contact Us page, visitors will find:
- A feedback form.
- An office address (in London).
- British phone numbers.
- An email address (another one is placed in the footer of the pages).
The love of a broker registered in Saint Vincent and the Grenadines for British addresses and phone numbers seems irrational to us. Moreover, to operate in the UK and Europe, local registration and licenses from local regulators are mandatory (we will check these).
As for the contacts, the company decided not to bother with implementing a live chat, which allows for quick resolution of any issues. Perhaps, this is due to the limited staff of Twelve Whales, which does not allow for a dedicated employee to communicate with clients via chat.
This would also explain the absence of links to social media groups on the pages. Creating and maintaining active groups and channels is a serious task that cannot be resolved with occasional visits. With a limited staff, the company’s employees cannot regularly engage in this.
It turns out we are dealing with a broker with limited resources (hence the offshore registration) and other constraints. This doesn’t resemble a solid company ready to work long and successfully at all.
Key Conditions
Potential clients won’t be able to analyze the trading conditions of Twelve Whales, as the company has chosen not to disclose them. We’ve already mentioned that the broker does not provide contract specifications. Similarly, the account types table lacks any technical parameters: no maximum leverage, no spread sizes, no trading commissions. The only information users will find is the minimum deposit amounts for each tariff plan.
The broker offers seven tariff plans:
- Bronze, deposit from 10,000 EUR.
- Silver, deposit from 25,000 EUR.
- Gold, deposit from 50,000 EUR.
- Platinum, deposit from 100,000 EUR.
- Diamond, deposit from 250,000 EUR.
- Premium, deposit from 500,000 EUR.
- VIP, deposit from 1,000,000 EUR.
It’s worth noting that the owners of Twelve Whales have rather high demands. Just look at the starting amount of 10,000 EUR and the one million required for access to the highest level.
There are no technical characteristics of the accounts, and the additional options are not significantly different. For example, only in the Gold tariff does the trader have the option to make one risk-free trade and work with a personal assistant. The higher tariffs only differ by individual account customization and access to the real Trader Room. We doubt that anyone would travel to the UK for such dubious benefits, especially since the deposit required is an order of magnitude higher. Is it worth it?
The broker also offers Islamic (swap-free) accounts, where no interest is charged or accrued. It’s unclear how Twelve Whales plans to profit from trading on these accounts. Could it be solely from fixed spreads? Doubtful.
Since the company does not intend to share information with clients, they will have to study the technical parameters of accounts and trades directly during trading. Naturally, this significantly increases the trader’s risks. However, this only benefits the platform owners, as any trading participant’s losses turn into direct profits for the project.
Exposing Twelve Whales
We have every reason not to trust this broker. To prove our point, we checked the official information about the company, and the results were quite unpleasant for Twelve Whales.
Let’s start with the registration data. The footer claims the company is registered in London, while the Terms & Conditions mention a registration address in Saint Vincent and the Grenadines (as we have already noted). We tend to believe the latter, as the registration number format matches those used in this Caribbean country (British registration numbers are significantly different).
However, checking the registry of the Saint Vincent and the Grenadines regulator showed that this financial service is not listed. Although it should be, since SVGFSA keeps records of such companies, even though it does not license or regulate their activities.
Possibly, there is a corresponding entry in the commercial register. However, there can be no mention of brokerage activities or client fund management.
Naturally, we also checked the databases of the Registration Chamber and licenses from the FCA and European regulators. As expected, no one knows about Twelve Whales. This means the broker operates exclusively online and illegally, as it does not have the necessary permits. We were not surprised by this.
On the About Us page, the creators of the broker needed only 4 paragraphs and 6 short sentences to describe the company. Naturally, there was no room for historical information. Judging by the Whois data, the company’s history isn’t rich either.
On the About Us page, the creators of the broker needed only 4 paragraphs and 6 short sentences to describe the company. Naturally, there was no room for historical information. Judging by the Whois data, the company’s history isn’t rich either.
The domain currently used by the company — twelvewhales.com — was registered on May 3, 2024. At the time of writing this review, the broker has existed for only two months. Of course, they refrain from publishing information about the creation date and significant events.
Incidentally, Whois completely disproves the company’s registration information. The given registration number was assigned to someone in 2022. We see a broker created in 2024. Thus, the number is either borrowed from a real company or simply fabricated. In any case, Twelve Whales LLC has no connection to these registration details.
Traders should understand that the company is actively recruiting clients, so specialists may call with tempting offers. It’s better to decline, as the risks for users of this platform are extremely high.
Another fact that does not favor Twelve Whales is the inability to register independently. The broker has no affiliate program, but the Referral Code field is mandatory. There is no doubt that this code can be obtained from support. However, it raises the question of why such complexities are necessary, especially when they contradict the current requirements of most regulators. It is clear that the company does not intend to let client recruitment happen spontaneously.
What Reviews Do Users Leave?
Before reading reviews of Twelve Whales, you will have to do a thorough search online as there are currently very few comments. We managed to find a couple of reviews on thematic sites. The authors’ opinions are unanimous — this scam project is not worth investing in.
We found much amusement in a site aptly named Twelvewhales Reviews. This single-page site was obviously made either by the broker or at its behest. There can be no other opinions — a far-from-successful trading platform is described here as the pinnacle of innovative trading technologies.
Even more interesting are the reviews on reviews.io. A few weeks ago, the opinions about the broker were unanimous — it’s a scam. But suddenly, a flood of top-rated comments appeared, raising Twelve Whales’ rating to almost 4 out of 5 in just one day. How much do you think the creators paid for this image-boosting campaign?
Conclusions
We conclude our Twelve Whales review with a short statement: do not deal with this broker. It has no official registration and lacks a license. Information about the company, its payment details, and trading conditions are also missing. All these are typical characteristics of scam projects. We recommend not funding accounts on this platform to avoid losing money.
Pros/Cons
- The pages of the official website load quickly.
- The broker devised 7 tariff plans and an Islamic account.
- Registration information is unreliable.
- No license, not even offshore; broker services are provided illegally.
- Self-registration is impossible.
- Trading conditions are not disclosed.
- No information about the company or its payment details.
Suspicious name. Good thing I ended up not agreeing to work with them. At first, I thought it was something unique, but it turned out to be a typical scam.
I am from Austria. TwelveWhales is a scam. I have lost € 17.500 . And nobody helps me to get my money back. Do not invest !!!!!!
I saw a clip on Tiktok showing a TV interview of somebody who made an investment and the returns where large. Seems it was AI generated
This company is called Twelvewhales and I contacted them regarding investment and received a phone call from an Accounts Manager named Mia Daniels.
I told her I could invest £1,000 but she said it should be £2,500 to give me more trading opportunities but I refused to do that and we agreed that I invest just £215 to test it out which I did. I have since checked my bank statement and seen that my payment was sent to a UK company who deal in Training Course for Beginners Trading. I contacted them and they told me I had paid for a Training Course. They were not involved in the scam and have apologized but have sent my money back to me.
After a short time I withdrew $200 (approx..£160) as was showing good profits on my “Trading Platform” This was sent back to my bank via Kraken just to give me confidence to invest more
So I decided to invest £1,000 which I was told to transfer into an account in the name of Stephen ********* at Barclays Bank.
I was told that he was a Trader in the UK and would deal with investment as was a small amount
I have since managed to track him down. He is not a Trader and he has not received the money but his bank account has been frozen for investigation as has also been scammed exactly in the same way I have but a different company set up
This was also shown as an investment on my “Trading Platform” which was obviously false, and I continued to see growth on my account and then decided to invest a further £2,200.
Mia suggested I open an account with Monzo Bank in the UK and Uphold Bank which I did.
Mia opened the account with Uphold on my behalf from my computer using Anydesk and then transferred it out into an investment that then showed up on my “Trading Platform” .
I continued to see the invest grow on my “Trading Platform” daily and as I spoke to Mia on a regular basis I felt quite comfortable as many emails went back and forth .
Early in the relationship, while chatting, she passed me over to one of her colleagues named John who suggested that if I invested £20,000 I would get a return of about £5,000 a month. I told him that I would not do that and did not have the money and he became rude and aggressive and told me I should get a loan out.
I told Mia that I did not want to talk with him again.
As our conversations continued I said that I would like to withdraw £1,800.
Mia said that I should send £5,000 as a minimum into my Uphold account which I could get back the same day plus my £1,800.
This transfer was done on Wednesday 11th August when Mia took control of my computer using Anydesk. £5,000 was transferred from my Monzo Account to my Update Account by myself before giving control to Mia who began the process of withdrawing the money from my Update Account to make investment.
At that time she should have then credited my Uphold Account with £6,800 or the dollar equivalent.
She said she needed to pass me over to her colleague to finalize the transaction. His name was John who I mentioned earlier in this report.
He told me that he could not complete the transaction until I deposited a further £4,000 into my Uphold Account.
I told him that I did not have any more money to send and that even if I did ,there was no way I would send over more money.
He became very argumentative and told me that he did not believe me but if I didn`t have the money I should borrow it. He was very arrogant and very rude as before and told me that if I was not going to send £4,000 I would not get any money back.
I asked to be passed back to Mia and he told me that I cannot talk with her anymore and had to deal with him in the future.
He did pass the phone back to Mia who told me that she listened to the whole conversation, apologized and said this is not what should have happened and nobody can take her clients from her or stop me speaking with her.
She said she would speak to somebody with more authority and promised that I would receive the money by the end of the day.
I tried contacting her again on her direct line but it was John who picked up the phone and said “Hi Mike, I told you that you can no longer talk with Mia and unless you send £4,000 you will not get any of your money”
The £5,000 taken from my account does not show up anywhere on my Trading Account
I called again later and the same thing happened, he answered the phone and was very abusive.
I then sent an email to Mia`s email address but it was returned undelivered as it had been marked as spam.
I called Mia`s direct line the following day and John picked the phone up so I recorded the conversation where once again he tells me to send another £4,000 to my Uphold Account or I would not get any money back. Once again he was very rude and arrogant.
Please take notice and do not invest any money with this company. I made the mistake of ignoring all the bad reviews, do not do the same.
Hi Mike.
The exact same thing happened to me. Mia was very manipulative in hindsight, even offering to stay on the phone with me while I made the transfer in order to get that transfer + my initial deposit into the platform back. Thank god I did not, I didn’t even have the money to do it anyway. By this time they had already taken €5700 euros and were telling me the account had to close and to get the money back, I would need to put in €5000 to break the blockchain. It’s an absolute disgrace. Did you pay anything by bank card or was it all bank transfer? I managed to recover €250 from my bank, but the transfers I am unable to recover. The money is long gone in my mind. Just wondering if you found any type of way to challenge the company or recieve anything back? A highly deceptive company. I don’t know how they sleep at night.