The number of people eager to make quick and substantial profits in the Forex/CFD market is growing, as is the number of scam brokers ready to quickly lighten the wallets of such users. The Wtcentral review discusses one such fraudulent project trying to pass itself off as a licensed platform. Its creators make many promises to traders, but the outcome for the latter is always the same: the complete loss of all invested funds. You’ll find more details about this fake company and its official website below.
Brief Overview
- 🖥Official Website: https://www.wtcentral.com/
- ✈️Contact Address: Europaallee 36, 8004 Zurich, Switzerland; Jubilee Plaza, Canary Wharf, London E14 5LS, United Kingdom
- 📞Customer Support: [email protected]; +442820140005 (UK), +41435086615 (CH)
- 🔐Licensing and Accreditation: none
- ⏳Track Record: since 2023
- 🧰Specialization: Forex/CFD broker
- 🤝Terms of Cooperation: not specified
- 💰Additional Services: no
Wtcentral.com Examination
When we first visited Wtcentral’s official website, we were shocked. However, it wasn’t because of its design but rather the disbelief that this pathetic attempt is being passed off as the web resource of a solid, licensed broker.
Would you believe it if you saw:
- A website consisting of just five pages and a registration/login form.
- A complete absence of documents regulating the company’s relationship with clients (except for an incoherent scrap of a dozen paragraphs proudly titled “Terms & Conditions”).
- Not a single byte of useful information, including details about the platform’s history, trading conditions, payment methods, or company details.
It seems the developers were tasked with creating a website about nothing, and they did a stellar job. It looks like the owners of Wtcentral have decided that Forex traders are ready to hand over their money to just anyone. They even came up with a way to avoid verifying published information — by not posting it at all.
Unfortunately for scammers, this approach is unlikely to help them: there are plenty of users online who can easily identify a fraudulent resource. This can be done without analyzing any data: legitimate brokers simply don’t treat their websites this poorly.
Company Contacts
The contacts page on the Wtcentral website is perhaps the only place where you can find any useful information about the company. Here you’ll find:
- A feedback form.
- An email address.
- Mailing addresses of offices in Switzerland and the UK.
- Swiss and British phone numbers.
However, some of this information is highly questionable. For instance, neither of the phone numbers responded. And in the British address, besides the building name, which is well-known in London, they inexplicably included the name of the underground station located beneath it.
In reality, the only guaranteed way to contact support is by sending an email (whether via the form or directly from the user’s mailbox). However, the time frame for responding to such inquiries is not regulated. As a result, a Wtcentral client could be waiting for a solution to an urgent problem for hours, days, or even weeks.
The broker hasn’t even considered an online chat option for quick communication. Perhaps there simply isn’t enough staff to have someone on duty 24/7.
The company’s contacts also lack links to social media channels. Perhaps they didn’t create them for the same reason—there’s no one to maintain activity in the channels and groups. But most likely, this isn’t the only reason. Scammers don’t need an uncontrolled influx of clients, for example, from social networks. That’s probably why they don’t see the need to manage social media pages.
Key Conditions
But the biggest surprise came when we tried to find out the trading conditions offered by Wtcentral. The scam broker simply decided not to publish them.
On the “Markets” page, where licensed companies typically provide descriptions of available markets and contract specifications, the creators of the platform decided to use just a few widgets borrowed from TradingView. These widgets offer no useful information, but they do make the page look decent.
As for account types, they are simply not present on the website. Therefore, the current pricing plans remain a big mystery for traders.
- How much do you need to deposit to start trading?
- What leverage can you use to open trades?
- What are the trading costs (spreads and commissions)?
All these and many other questions remain unanswered. Clients who dare to open accounts with this pseudo-broker will have to figure them out during trading. It’s clear that losses are inevitable in this process. However, this is not so important, because it’s unlikely you’ll be able to withdraw not only your profits but even your original deposit from these scammers.
Exposing Wtcentral
There is little doubt that this broker is one of the most blatant examples of scammers. However, to complete the picture, one final detail is missing: an analysis of the official information about the company.
The creators of the platform have published two addresses on their site: one in Switzerland and one in the United Kingdom. However, searches in the registries of both countries yielded no results.
It seems that the broker operates without official registration and, therefore, without licenses. Nevertheless, it attempts to assure users that it is certified and regulated by the European Union Asset Control (EUAC) and even provides a license number. The broker claims that this organization serves as a regulator for licensed financial services.
However, the official EUAC website states that it is a self-regulating organization that can only mediate disputes between financial services and their clients. Regulation is not mentioned at all. Additionally, searching for this organization online yields only a few (about three) relevant results. The only entities referring to this certificate as a license are Wtcentral and the well-known scam broker Vourteige.
Thus, all the company’s claims about being under the supervision of a regulator are unfounded and serve only to deceive potential clients. In reality, this virtual firm does not possess any permits for brokerage activities and operates entirely illegally.
The information about the broker’s duration of operation is also not encouraging for those looking to see it as a trading partner in financial markets. Whois data shows that the domain used by the platform, wtcentral.com, was registered in September 2023 and only became fully operational in October.
As a result, by the time this Wtcentral review was written, the virtual firm had been online for just nine months. This is not enough time to earn the trust of traders. However, the longevity of this scam project is impressive; most similar “brokers” steal all the clients’ money and cease to exist much sooner.
We have some ideas about what might explain the unusually long lifespan of this fake firm. You might guess that with the kinds of offerings and the official website that this broker has, they shouldn’t expect to register new clients or receive money from them. Therefore, the project representatives continue trying to attract users, albeit seemingly without much success.
What Reviews Do Users Leave?
Everything mentioned above is confirmed by Wtcentral reviews found online. The broker spared no expense in creating a positive image for itself, commissioning several dozen laudatory comments on websites like Trustpilot, Sitejabber, and Reviews.io. Needless to say, these reviews praise the company without providing any specifics. This is to be expected, as the copywriters have no real understanding of the platform’s operations and can only offer generic praise.
However, among these posts, there are also a few that openly label the broker as a scammer, backed by real facts. The reasons include:
- Aggressively pushing their services, with a strong emphasis on making an initial deposit.
- Delayed responses to client inquiries, often taking several days.
- Refusal to process withdrawals under various pretexts (none of the traders who left reviews received their payouts).
Experts on industry-specific websites also agreed with these critical reviews, unanimously declaring Wtcentral a scam project and providing solid evidence to support this claim. Despite all the broker’s efforts and expenses, its online reputation remains highly questionable.
Conclusions
We believe our conclusions from this Wtcentral review are clear. The broker operates without registration or a license, conceals its trading conditions, and even hides its payment details. It is evident that this is a scam project, and depositing money into its accounts is unsafe. Both honest reviewers online and experts on industry-specific sites advise against doing so.
Pros/Cons
- Fast page load times.
- Few pages, allowing users to get acquainted with the broker in just a few minutes.
- The company lacks official registration and is merely a virtual service on the internet.
- The so-called broker has no license, and its claims of operating under regulatory oversight are yet another falsehood.
- Trading conditions are not provided on the website at all.
- There are no documents regulating the relationship with clients (aside from a pitiful imitation of Terms & Conditions).
- Payment details are hidden, and it is impossible to fund the account without contacting customer support.
No matter how much money you have in your account, the conditions remain the same. Wtcentral is just terrible, and I have a strong feeling that this garbage will never become anything reasonable or profitable. All the functions of their trading terminal are just broken; clearly, these scammers only appeared to steal your money. I lost $12,000 myself! So, I recommend steering clear of these crooks!
When I tried to withdraw money, customer support told me I needed to pay taxes, insurance, and fees before they could process my request. They refused to deduct the amount from my withdrawal. After three weeks of disputes, I realized I wouldn’t be able to get my money back from Wtcentral. Don’t work with these scammers! You won’t get paid, and you won’t get your money back.