Is WRPro a scam?

We rate WRPro High Risk rather than Scam. The licence is real and we found no regulator warning naming the firm. The problem is that you cannot find out what trading there costs before you deposit, and the reports from people who did are about getting money out.

The licence, and who actually holds your money

The operating entity is GMBB Investment Ltd, at 7th Floor, NeXTeracom Tower 1, Cybercity, Ebene, Mauritius, under FSC Mauritius licence GB22201139. A Cyprus company, GMBB Investments CY Ltd, acts as paying agent.

That structure is common and it is worth reading carefully. The Cyprus company takes the payment. The Mauritius company holds the account and writes the contract. Nothing about the Cyprus leg brings your account under EU rules, and Mauritius has no investor compensation scheme. Segregation is not evidenced and no custodian bank is named.

What is not published

This is the unusual part. WRPro does not publish:

• A minimum deposit. There is no figure anywhere on the site.
• A spread table, a commission rate or a swap schedule.
• Withdrawal fees, minimum withdrawal amounts or processing times.

Leverage runs up to 1:500. That number is published; the cost of using it is not. A broker that will not tell you what a trade costs until you have an account is asking you to commit money to find out.

The complaint pattern

Reviews describe withdrawal restrictions and leverage changed on live accounts without notice. The second is the more serious of the two: a leverage change alters your margin requirement, and a position that was comfortable can be liquidated by a settings change rather than by the market.

These are user reports, not regulator findings, and we report them as such.

Before you deposit

Ask for the full fee schedule and the withdrawal terms in writing, before funding. Confirm that the entity on your agreement is GMBB Investment Ltd and check GB22201139 on the FSC Mauritius register yourself. If the answers do not arrive in writing, that is the answer.

Capital.com publishes its full fee schedule publicly and states in its terms that it charges no inactivity, deposit or withdrawal fee. That is the comparison worth making.

The full rating is in our WRPro review.