If Wisevests requests additional fees such as taxes for withdrawals, it's likely a scam tactic designed to extract your money. We strongly advise against paying these funds. Wisevests carries substantial risks of fraud and identity theft.
While the broker purports to be operated by GroupUp Green LLC, a company allegedly registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), it's crucial to note that the SVG FSA does not regulate or license forex trading brokerage activities. This means that Wisevests' offerings are unregulated, posing additional risks to its clients.
Further highlighting the considerable risks posed by Wisevests, the Federal Financial Supervisory Authority (BaFin) has issued a warning about Wisevests due to its lack of required authorization. Additionally, the Belgian Financial Services and Markets Authority (FSMA) has flagged Wisevests as a fraudulent trading platform and added it to its warning list.
Given these facts, we strongly recommend investors to steer clear of Wisevests to avoid becoming victims of potential fraud schemes. It is always prudent to choose fully regulated brokers instead.
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