Wellmax Capital: customer reviews and company overview
On the Wellmax Capital website, you are invited to join a team of professionals and become a successful trader. The broker claims to provide all necessary conditions: a modern platform, fast order execution, low commissions, and spreads.
The official website of the company looks like a cheap template that does not inspire trust. Claims about the number of clients (over 150,000 traders worldwide) seem dubious, as there are almost no reviews or comments about Wellmax Capital online.
The company states that it has been on the market for 6 years, but does not provide evidence to support this claim. Registration in an offshore location and the lack of complete contact information also raise questions about the legitimacy of the broker’s activities.
Wellmax Capital is operated by SBC Group Ltd, registered in the offshore jurisdiction of Saint Vincent and the Grenadines. This raises suspicions, as offshore locations are often used by scammers.
The lack of a financial regulator’s license and uncertainty in the regulatory sphere make the company suspicious to investors. The risk of losing funds without the possibility of recovery significantly increases.
Trading with Wellmax Capital: conditions overview
The company offers various account types with a minimum deposit ranging from $250 to a maximum of $100,000. High leverage (from 1:200 to 1:500) and up to 77% cashback when funding the account with cryptocurrency may be enticing but also indicate risks for traders.
The partnership program heavily promoted by the broker is one of the methods used to attract new clients. This could be an attempt to compensate for the lack of trust in the company from traders.
What traders are saying in reviews?
There is very little information about Wellmax Capital in trader reviews, which raises suspicions. The lack of specific feedback about working with the broker may indicate a lack of experience in collaboration.
Fraudulent schemes in Wellmax Capital
The schemes used by the company are aimed at quickly attracting clients. Managers may convincingly suggest opening an account and then persuade to invest funds. Traders may be limited in their actions, and control over trades is entirely on the broker’s side.
The inability to recover funds and the blocking of accounts at any time highlight the risks of working with Wellmax Capital. Therefore, it is important to be cautious and avoid investing in suspicious projects.
Review conclusion: Wellmax Capital does not deserve traders’ trust
Wellmax Capital raises serious doubts about its activities. The lack of a license, uncertainty in the regulatory sphere, and the absence of positive reviews make collaboration with the company risky. It is recommended to be vigilant and avoid investing in such projects.
My experience with Wellmax Capital has been nothing short of disappointing. Their customer service is below par, with responses taking days, if not weeks. Communication is extremely poor and they fail to keep you informed about the status of your investments. Moreover, they are misleading about their fees, which are significantly higher than initially indicated. I constantly felt uncertain about where my funds were being invested as the broker offered very little to no transparency. The promised returns were also unrealized, which left me in a precarious financial situation home. Frankly speaking, their service felt more exploitative rather than helpful. I strongly advise steering clear of Wellmax Capital.