Reported as a scam / unregulated
Why WMarkets is on the register
WMarkets does not disclose any regulatory information and makes no claim of holding a license from any financial authority. It only states that it has addresses in Nigeria and Dubai . However, forex trading in Nigeria is not strictly regulated , meaning brokers registered there typically operate without meaningful oversight , posing significant risks to clients. Additionally, we searched the registers of all major UAE regulators, including the Securities and Commodities Authority (SCA) , the Dubai Financial Services Authority (DFSA) , and the Central Bank of the UAE (CBUAE) , and found no record of WMarkets or any affiliated entity. All findings proves that the platform is not licensed to offer forex services. Therefore, WMarkets appears to be a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.