Westmarket Capital Limited Reviews- Investigation for Fraud, Impersonation and Perjury – Fake Copyright Takedown Scam

August 27, 2022

                               

WestMarket Limited Reviews / westmarketlimited.com / westmarket limited отзывы / westmarket capital limited







Westmarket Capital Limited Reviews – Investigation for Fraud, Impersonation and Perjury – Fake Copyright Takedown Scam

Beneficiary of Fake DMCA:WestMarket Limited Reviews / westmarketlimited.com / westmarket limited отзывы / westmarket capital limited




Contact Info:Website : westmarketlimited.com
Possible Infringements:Perjury, Impersonation, Identity-theft, Misrepresentation
DMCA Report:https://www.lumendatabase.org/notices/25210715
Original Link:https://www.forexbrokerz.com/brokers/westmarketlimited-review





















Fake Link/Website Used:https://dodyfreedman.blogspot.com/2021/09/westmarket-limited-review-is.html













Submitted by:Dody freedman
Date of Submission: 
September 21, 2021
Cue all manner of gaslighting, starting with a bunch of bogus DMCA takedown notices. I loosely keep track of DMCA takedowns filed to hide the scam done by this organization. Westmarket Capital Limited really went to town with their efforts to hide the negative content on the internet.
Content Used In Fake DMCA By Westmarket Capital Limited - 
"generic name – the company is also incredibly shady, which is also generic for offshore brokers. Here is why you would be better off avoiding WestMarket Limited altogether! Is WestMarket Limited a legitimate broker?"

HERE’S OUR INVESTIGATION REPORT

SO WHAT WERE THEY TRYING TO HIDE ?
 
"

WestMarket Limited Review Highlights

💰 Leverage 1:200

⚖️ Regulation Unregulated

🗺️ Headquarters Unknown

💳 Minimum Deposit $250

🛍️ Review Rating 1/5

🛍️ Broker Type Forex

🖥️ Platforms Web

📊 Spread 0.6

WestMarket Limited is an offshore broker with an incredibly generic name – the company is also incredibly shady, which is also generic for offshore brokers. Here is why you would be better off avoiding WestMarket Limited altogether!


Is WestMarket Limited a legitimate broker?

Absolutelty not – the company does not hold a license for the activities it conducts – and yet, it claims to have an address in London. This is just impossible – WestMarket Limited lies about where it is headquartered. Below you will see the claim that WestMarket Limited makes:




If the company did operate from there, it would need to be approved by the regulatory body of the UK – the Financial Conduct Authority – FCA. However, this is very much not the case, with WestMarket Limited breaking several policies the FCA has in place with the aim of protecting the retail trader.


Firstly, WestMarket Limited provides access to a leverage, much higher than the 1:30 cap the FCA has instituted for retail traders. Secondly, the broker grants bonuses – another service the FCA bans. We will expand a bit more on the bonuses, but you will see why the regulator has deemed them to be unfit for its markets! Finally, WestMarket Limited provides access to crypto derivatives – this asset class was banned in the UK, and its brokers cannot even advertise it anymore!

As an unlicensed broker, WestMarket Limited does not comply with FCA policy – and, therefore, it cannot grant you any of the regulator-mandated protections – access to guarantee funds and a Negative Balance Policy, for example. You would be better off trading with a safer, licensed company than using the services of WestMarket Limited! Which brings us to our next point:

Can I make money with WestMarket Limited?

No – there is no way WestMarket Limited can grant you any profits – you would be more profitable by trading with a regulated company. That is not only because the company is unlicensed and lies about its whereabouts, but also because it has an incredibly malicious Bonus policy, which turns bonus funds into a tool for psychological manipulation! Here is what the policy looks like:


As you can plainly see, WestMarket Limited issues bonuses that require a turnover of at least 40 times the value of the bonus be achieved before untaxed withdrawals of any money is possible. There is no way that anyone would be able to achieve such a high turnover, and the broker knows it – the only purpose of it even issuing the bonus is to restrict withdrawals! And there is also a hefty penalty for anyone who tries to withdraw from WestMarket Limited before the turnover is reached:

While this does mean that getting your money from WestMarket Limited’s hands is possible, it also forces the client to keep their money longer into their account, lest they have to lose a quarter of it for no good reason! This is exactly the kind of abusive behavior that led to the FCA and several other key regulatory bodies prohibiting the provision of bonuses and trading incentives outright! And, if that wasn’t enough, there is also a fee on withdrawals:

That fee is 20 euro for credit card withdrawals and 1% of the withdrawn amount for wire transfers.

What is the leverage that WestMarket Limited provides?

WestMarket Limited provides access to a leverage of up to 1:200 – and not only the FCA, but most other regulators have banned the provision of such amounts to the retail trader – and this means that whenever you see a broker out there that offers too high of a leverage, odds are you are dealing with an unlicensed entity, which seeks to attract more clients!

What is the minimum deposit with WestMarket Limited?

WestMarket Limited sets its minimum deposit to $250 – that is much higher than what most legitimate brokers charge nowadays, with them typically offering micro accounts for about $10 at most!

What trading software is available with WestMarket Limited?

WestMarket Limited provides access to a web-based trading platform, which unfortunately does not hold up well when compared to industry standard Metatrader 5, as it lacks most of MT5’s features – there is no automated trading whatsoever! Here is what the platform looks like:

WestMarket Limited also provides a desktop distribution of some platform that we could not install – it got flagged by our antivirus:

Given how shady WestMarket Limited is, there is no reason to install any such software the broker provides and put yourself at risk!

What deposit methods does WestMarket Limited accept?

Once we made an account with WestMarket Limited, we learned that all deposits must go through an account manager – so we cannot actually answer this question. However, if you have deposited with WestMarket Limited, we suggest you get yourself familiar with the chargeback policy of whatever deposit method you used!


Read More Investigations 

It may not be copied without the written permission. This investigation on Westmarket Capital Limited  is submitted and written by one of our members. Any and all opinions and information are published as it is. We do not edit or remove any aspect of the report and is merely a free-speech platform. 

As such, we cannot be held liable for the investigation reports and articles posted about Westmarket Capital Limited.

Here are some of the outcomes and changes we made possible with the help of several other citizen lawyers and agencies –

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