The services of this brokerage firm, according to the owners of the resource, are used by more than 2 million traders from 35 countries. In addition, on its official website, there are many reviews from grateful customers from different continents who speak enthusiastically about many years of successful cooperation with this company. However, we are alarmed by the lack of information about the location of this organization, the presence of a license, and the history of the project.
Is it safe for you to trade on this platform? You will find the answer in our WeFinancial review, in which we analyze the trading conditions and legal aspects of this broker.
How to Trade
The trading platform has limited functionality, without advanced options. The intermediary offers 6 types of accounts. The trading conditions contain only the minimum deposit amounts and leverage, other parameters are not disclosed.
You can use the following services:
- Access to arbitrage.
- Bonus program.
- Negative balance protection.
Withdrawal fee is 1%, but not less than $30 and not more than $300. You can order a withdrawal of at least $100 and the Bitcoin equivalent of $250. Requests are processed within 48 hours.
You will find educational resources, a glossary, ebooks, and analytics on the site. Admission to webinars is available at certain account levels.
WeFinancial Vital Info
The founders and team members of the brokerage are not featured on its website. In the “About Us” section, there are only vague statements about the project’s mission, and the start date is listed as “a long time ago.” The only date there is in the internal documents is the approval of their latest versions dated February 13, 2020. However, this contradicts the domain registration date of June 1, 2023. Could an online service operate without a website?
The legal address, place, and registration number of the firm are not disclosed on its official website. It is not clear to us where to address the client in case of a disputable situation. According to the “Bonus Policy”, all disputes are resolved “in the exclusive jurisdiction of the courts of the Republic of Estonia”. Meanwhile, we did not find WeFinancial in the global registry; it is not available in any country, including Estonia. Most likely, the platform is operated by private individuals who do not have a license.
A more or less experienced trader will immediately determine that this brokerage platform is a common scam. Initially, Wefinancial managers promise you just fantastic conditions, they say: "You only need to spend one hour a day trading with us, and your whole family will live in prosperity". Does anyone still believe in such promises?! The number of working traders and the payment amounts indicated on the site are amazing in their scale and incredibleness - no other broker, even the most advanced broker, has such indicators. In short, it is a SCAM!!!
At first, I thought that cooperation with this intermediary would be profitable. However, after the first month of work, I realized that on WeFinancial, spreads were intentionally widened during periods of high volatility, which caused my scalping strategies to result in losses rather than profits. I complained to support, but all they said was that it was "stated in the contract". I lost about 13, 640 dollars and I am very disappointed.
This is not a broker, but some cesspool that takes all the money from traders. I met such crooks on forex, which help you to drain your money immediately after depositing, but here my funds were not even credited :( WEFINANCIAL technical support politely answers that they don’t know anything, they didn’t receive the money.
The broker raised margin requirements by 25% without warning! My positions were automatically closed and I lost about 3,600 USDT. This is completely absurd! There was no notification, there is no transparency here. Scammers have fun with your money, embezzle their clients' money by any means possible!
I chose this broker because it has protection against negative balance. This is at least some chance not to lose on CFD trading. I trade both on my computer and on my phone. The technical support works quite well. I'm comfortable and easy to trade (after learning). I have not made a huge capital with WeFinancial, but I'm quite happy that I have a stable income. I've made withdrawals three times already without any problems. I consider a big disadvantage of the service is that the site doesn't provide information about the term of the company and trading conditions, and there is no demo account.
I asked the manager if the insurance of funds works, he replied that only on VIP account, and in my case there are no guarantees. I ended up losing over 14,700 dollars when someone hacked into my account. The broker wrote the rules so that no one gets paid. I highly recommend you to bypass this scam.
I want to start my review with the disadvantages of the platform, which are not so many on wefinancial.io, but they exist: there is a large spread, - the company must also earn, I understand it, but with my small amount it feels very strong; very often my connection to the server is blocked - this is a strange situation and the support can not solve this problem, the operators say that the cause of these failures is on my side, but I do not understand what my fault is, and the large commission also confuses me. Now I will move on to the pros: I liked the fact that I quickly registered and quickly verified my account; it is also cool that there is a consultant here, with whom you can be solved questions on strategy, he constantly keeps in touch with me. I continue to work with wefinancial, but I need to increase my deposit so I don't feel the commissions as much.
The broker is very unreliable. It attracts with its bonuses, large variety of instruments, and convincing statistical figures. However, my deposit of 330 euros remained in this company and only its owners made a profit.
I do not recommend this project to anyone as I lost $1,300 here. I immediately saw that this platform is unreliable: the site is designed on the one hand original, but on the other hand it has a lot of traffic, large fonts, pictures from stocks, and it is impossible to find specific information. All the Terms and Regulations are posted in the form of screenshots, the links do not work. However, I decided to take a risk to earn fast on arbitrage. As a result, I drained my deposit of £450 in three days. Do not repeat my mistake and bypass Wefinancial.
I succumbed to the charm of the manager and the beautiful website design, and mainly to the fact that wefinancial has trading with good leverage. So, in essence, there is a chance to make big profits with a minimum amount of €250. The first problem I encountered was the website and terminal freezing. I couldn't log in to wefinancial.io from my phone, computer, and tablet for a very long time. Then I managed by some miracle to enter the program, and eventually, I saw frequent slippages. However, I managed to earn a small amount of money in two weeks, about €40. The manager promised me a low withdrawal fee, but in fact, I received 10% less money on my card, it's a robbery! There is no demo-account here, and there is also no PAMM account (the latter I use often). Quotes are average. I do not recommend it.
Be careful! WEFINANCIAL is a trap for beginners. I deposited 800 dollars into my account and started with small trades, but my positions started to be forcibly closed at the minimum loss, not allowing the market to recover ❌ I lost 25% of my portfolio in a couple of days, and the company employees say that this is a normal market situation.
I do not advise you to work here, the conditions for traders there are the most unfavorable. In addition to large spreads, the broker still charges large commissions, as well as "empty" bonuses that you will never see...
I have worked with different brokers as I have been earning in this field for a long time. However, WeFinancial managed to surprise me, and in a positive way. The broker allowed me to work with a consultant who is excellent at helping experienced traders. He gave me the opportunity to test the capabilities of the platform, where I can receive quite decent payment for my work. I trade big, I do not complain about profits. Once I listened to the consultant and my deal went into the red (it can happen to everyone), but the broker compensated my losses. I can recommend such a reliable company to any trader. There are a lot of tools, arbitrage is available - you can choose what is more convenient for you. In my opinion, this is the most honest broker in terms of quotes, the terminal works without slippage. I believe that wefinancial.io has everything for a trader to make money,
The brokerage platform has an average functionality. Along with the advantages, there are disadvantages. There is a good training program for beginners, consultants tell everything in-depth, and they do not hide anything. There is a good leverage - 1:400, additional income from bonuses. Disadvantages: sometimes it is impossible to close a transaction because of freezes, and tech support is not in a hurry to respond. However, WeFinancial pays out funds according to the regulations, and I think this is the main thing. I work with them and at the same time trade in another company.
It took me a long time to get used to the platform, even though I’ve been working in Forex for several years, but I got used to other, more advanced tools. In general, it is a stable resource that works clearly and without lag. Due to this, the Forex broker has constant spreads and predictable terminal functionality. I work on wefinancial.io with comfort, without anxiety, as transactions are always fast. I mainly deal with raw materials and metals - I manage to work here with good profits. Withdrawal of money is without major problems, sometimes there are cancelations or delays, but I'm already used to it. As for the commissions, I have accepted the fact that they are not the lowest, but lower you will find only in scammers :), although the fees are not the highest. There is a middle ground in terms of spread size.
I noticed strange spread spikes in my account when I tried to open a trade on EUR/USD. The spread suddenly increased to 22 pips, causing my potential profit to turn into a huge loss. I tried to discuss this with tech support but all I got was inarticulate explanations about market volatility. I lost $874 and realized that wefinancial is a scam that makes money by scamming customers.