General Information
WARLOCK MARKET is an unregulated brokerage firm based in the United Kingdom but claims to be regulated in the United States for 2-5 years. However, the regulatory licenses appear to be suspicious and unauthorized. The broker primarily focuses on the Chinese market and offers services related to MT4/5 white label. The WikiFX score for WARLOCK MARKET is significantly low due to the abundance of complaints from users.
WARLOCK MARKET provides a range of market instruments for trading, including forex currency pairs, equity indices, oil, gold, silver, and CFDs. They offer both Standard and ECN account types, with the ECN account utilizing ECN/STP technology for direct routing of customer orders to international banks. The broker claims to provide low spreads starting from 0.0 pips, but specific details for individual instruments are not mentioned. The minimum initial deposit required by WARLOCK MARKET is stated to be high, raising concerns about potential scam activities.
The broker supports the MetaTrader5 (MT5) trading platform, which offers various charting tools, market indicators, and customizable trading bots. It is accessible through web browsers on different operating systems and provides features for technical analysis and real-time quotes. However, the negative reviews on WikiFX indicate a high risk of dealing with WARLOCK MARKET, particularly due to issues related to fund withdrawal, frozen accounts, and unresponsiveness from customer service.
Customer support services are available 24/7 through email and live chat on the website. The website is accessible in multiple languages, catering to a diverse range of customers. Overall, caution is advised when considering WARLOCK MARKET as a broker, and alternative, regulated options should be explored.
Pros and Cons
WARLOCK MARKET offers a range of market instruments for trading, including forex currency pairs, equity indices, oil, gold, silver, and CFDs. They provide both Standard and ECN account types, with the ECN account utilizing ECN/STP technology for direct routing of customer orders to international banks. The MetaTrader5 (MT5) trading platform offers a user-friendly interface with a variety of tools for analysis and trading in multiple financial markets. However, there are significant drawbacks to consider. The broker is unregulated and holds suspicious regulatory licenses. Numerous complaints have been reported, particularly regarding the inability to withdraw funds and unresponsiveness from customer service. The high minimum deposit requirement raises concerns, and the specific details regarding spreads, commissions, and deposit/withdrawal fees are not transparent. Overall, caution should be exercised when dealing with WARLOCK MARKET, and alternative, regulated brokers with better reputations should be considered.
Is WARLOCK MARKET Legit？
Based on the information provided, it appears that WARLOCK MARKET is not properly regulated. The broker is listed as unauthorized and does not have a valid regulation from any recognized regulatory agency. The information suggests that there are warning signs and potential risks associated with this broker. It is advisable to exercise caution and consider alternative regulated brokers for trading activities.
Markets Instruments
WARLOCK MARKET offers a range of market instruments for trading. Here are the main instruments available:
1. Forex Currency Pairs: WARLOCK MARKET provides trading opportunities in various currency pairs. Forex trading allows customers to speculate on the exchange rate fluctuations between different currencies, such as EUR/USD, GBP/JPY, AUD/CAD, and more.
2. Equity Indices: WARLOCK MARKET offers trading in equity indices, which represent the overall performance of a group of stocks from a particular stock exchange. Traders can speculate on the price movements of indices like the S&P 500, NASDAQ, FTSE 100, and others.
3. Oil: Trading in oil allows customers to speculate on the price movements of crude oil. WARLOCK MARKET provides opportunities to trade popular oil contracts, such as Brent Crude Oil and West Texas Intermediate (WTI) Crude Oil.
4. Gold & Silver: WARLOCK MARKET enables traders to engage in the trading of precious metals like gold and silver. These metals are often considered as safe-haven assets and can be traded in both spot and derivative markets.
5. CFDs: Contract for Difference (CFDs) is a popular trading instrument offered by WARLOCK MARKET. CFDs allow traders to speculate on the price movements of various underlying assets without actually owning the assets. This includes commodities, indices, stocks, and more.
Account Types
WARLOCK MARKET offers both Standard and ECN (Electronic Communication Network) account types.
STANDARD ACCOUNT: The Standard account is a common type of trading account that allows traders to execute trades using the broker's provided spreads. The trading orders are processed internally by the broker.
ECN ACCOUNT: The ECN account utilizes the ECN/STP (Straight Through Processing) technology. This means that all customer orders are directly routed to international banks, providing anonymous and fast execution. The banks involved in the process hold banking licenses and have legitimate forex liquidation qualifications, which is intended to offer investors a fair and secure trading environment. With ECN accounts, traders may benefit from potentially lower spreads and access to deeper liquidity.
Minimum Deposit
The minimum initial deposit required by WARLOCK MARKET to start real trading is stated to be absurdly high, reaching up to $1000. It is worth noting that this high minimum deposit requirement, particularly for an unregulated broker, raises concerns and may indicate a potential scam. It is generally recommended to be cautious when dealing with brokers that have significantly high minimum deposit requirements.
Spreads & Commissions
WARLOCK MARKET claims to provide low spreads, with a starting point of 0.0 pips. However, the specific spreads for individual instruments are not mentioned. It is important to note that spreads can vary depending on market conditions, liquidity, and the specific trading instrument. It is recommended to contact WARLOCK MARKET directly or refer to their platform for more detailed information on spreads and commissions for specific trading instruments.
Trading Platform Available
WARLOCK MARKET supports the MetaTrader5 (MT5) trading platform, which is widely used in the market. MT5 offers a range of charting tools, market indicators, and customizable trading bots to analyze the market and execute trades.
With MT5, traders can access various financial markets including forex, futures, and stocks from a web browser without additional software or browser extensions. The platform is compatible with Mac, Linux, and Windows operating systems.
MT5 provides a user-friendly interface with features such as five indicators per chart, three chart types, and nine timeframes. It offers nearly 30 indicators and 24 graphical objects for technical analysis. Traders can access these features at any time and from any browser.
The platform ensures data protection and does not have ads. Traders have the ability to set custom time intervals and create multiple watchlists. Real-time quotes are available to stay updated on market movements.
Overall, the MetaTrader5 platform offered by WARLOCK MARKET provides traders with a set of tools and features to facilitate trading and analysis in various financial markets.
Deposit& Withdrawal
WARLOCK MARKET offers several options for depositing and withdrawing funds. Deposits can be made using Visa and Mastercard payment cards or bank wire transfers. If you choose to deposit using a payment card, the processing time is up to 24 hours. It's important to note that the specific details regarding fees and processing times for deposits are not mentioned in the provided information.
For withdrawals, WARLOCK MARKET allows withdrawals to be made using Visa and Mastercard payment cards, Qiwi wallet, and Skrill. The processing time for e-wallet transactions, such as Qiwi wallet and Skrill, is stated to be up to 5 business days. However, the details regarding fees and specific withdrawal processing times are not provided.
Reviews
The reviews on WikiFX regarding WARLOCK MARKET are overwhelmingly negative and indicate potential scam activities. The common complaint revolves around the inability to withdraw funds from the trading account. Clients have reported various issues, such as accounts being frozen, requests for additional payments or taxes before withdrawals, unresponsiveness from customer service, and blocked access to accounts.
Some reviewers have mentioned losing significant amounts of money, ranging from thousands to hundreds of thousands of dollars, with no resolution or refund. There are also allegations of romance scams, where individuals were lured into depositing funds through false promises or relationships.
Overall, the reviews on WikiFX suggest a high risk of dealing with WARLOCK MARKET. It is advisable to exercise extreme caution and consider alternative, regulated brokers with a more positive reputation for trading activities.
Customer Support
WARLOCK MARKET provides customer support services to its clients. They offer 24/7 customer support, ensuring assistance is available at any time. The website is accessible in multiple languages, including English, Japanese, French, German, Chinese, and Spanish, catering to a diverse range of customers.
Clients can reach the customer support team through various channels. They can contact the support team via email at support@warlockmarket.com, providing a written inquiry or requesting assistance. Additionally, a live chat option is available on the website, allowing clients to engage in real-time conversations with support representatives.
Conclusion
In conclusion, WARLOCK MARKET is an unregulated broker with numerous disadvantages and high risks. The lack of regulation raises concerns about the safety and legitimacy of the broker. The minimum deposit requirement is stated to be unreasonably high, potentially indicating a scam. Negative reviews and complaints about withdrawal difficulties further add to the skepticism surrounding WARLOCK MARKET. However, it does offer a variety of market instruments for trading and supports the popular MetaTrader5 platform. Additionally, it provides customer support services and offers multiple language options. Despite these advantages, the overall risks and negative reputation associated with WARLOCK MARKET make it advisable to exercise extreme caution and consider alternative, regulated brokers for safer trading activities.
FAQs
Q: Is WARLOCK MARKET a regulated broker？
A: No, WARLOCK MARKET is not regulated. It does not have a valid regulatory license.
Q: What market instruments can I trade with WARLOCK MARKET？
A: WARLOCK MARKET offers trading opportunities in various market instruments, including forex currency pairs, equity indices, oil contracts, gold and silver, and CFDs on commodities, indices, and stocks.
Q: What types of trading accounts does WARLOCK MARKET offer？
A: WARLOCK MARKET offers both Standard and ECN (Electronic Communication Network) account types. The Standard account allows trading with the broker's provided spreads, while the ECN account provides direct routing of orders to international banks for anonymous and fast execution.
Q: What is the minimum deposit requirement for WARLOCK MARKET？
A: The minimum initial deposit required by WARLOCK MARKET is stated to be high, reaching up to $1000.
Q: How can I deposit and withdraw funds with WARLOCK MARKET？
A: WARLOCK MARKET allows deposits through Visa and Mastercard payment cards or bank wire transfers. Withdrawals can be made using Visa and Mastercard payment cards, Qiwi wallet, and Skrill.
Q: What trading platform does WARLOCK MARKET support？
A: WARLOCK MARKET supports the MetaTrader5 (MT5) trading platform, which offers a range of tools and features for analysis and execution in various financial markets.
Q: Are there any positive reviews about WARLOCK MARKET？
A: The reviews on WikiFX regarding WARLOCK MARKET are overwhelmingly negative, indicating potential scam activities and difficulties in withdrawing funds.
Q: How can I contact customer support at WARLOCK MARKET？
A: You can contact WARLOCK MARKET's customer support team through email at support@warlockmarket.com or through the live chat option available on their website. They offer 24/7 customer support services in multiple languages.
沉香65702
Japan
I use this platform to trade because my friend introduce me this platform. There are many problems when you want to withdraw. I did everything that customer service ask me to do, but still cannot withdraw. Please help me.
Exposure
2022-09-13
Tay1
Turkey
well, all I can say is that you be very careful I had a very bad experience, all they want you to do is make more deposit so improper, why can’t they deduct charges fee and tax fee from my profits, must I put in more money, it obviously scam,
Exposure
2022-09-05
wei huo
Australia
I have lost so much money to this fraud scam company,please don’t trust them ,do not use them ,made a Hugh profit,but need to pay 22%profit tax ,after paid the tax ,need more deposit to verify my account,because I got some deposit from a online guy,he introduced me to this scam company,after he deposit over 250000usd to my account to gain my trust,the whole thing went bad from there . do not trust their sweet talk . after I have paid the deposit,the guy no longer answer his message from what’s app ,warlord market limited has freeze my account as well . anyone know where to get help ? big mistake of my whole life watch out for this guy he will teach you what to buy and when to buy
Exposure
2022-09-05
乐乐69951
Japan
I can't log in to my account! Cannot withdraw funds! Requesting help! No one answers messages from customer service! Looks like a scam!
Exposure
2022-09-01
FX2019081776
Northern Mariana Islands
I met a person via internet and induce me to invest warlock market. Without knowing it, I suddenly received 100,000 US dollars of funds in warlock market account, and the platform customer service did not confront me and the account was frozen after the funds were accepted. Customer service requires a 20% deposit to unlock the account. After exposing the platform, the platform refused to communicate with me and blocked me! As a result, the money cannot be withdrawn, and even the principal cannot be returned!
Exposure
2022-02-12
Boris Medina
United States
last year I sent 30k us dollars and when I wanted to withdraw all plus the earnings they asked me to pay 20% taxes on earnings to withdraw I paid 3.3k us dollars and they took more than a month to confirm my payment which was ready 3 days after I deposited on their account, after that they send me an email saying withdrawal successful, but since then they never deposited the money I to my account, since then they changed the website, and didn't copy the information about my transactions
Exposure
2022-01-27
Boris Medina
United States
I invested last year, and made profit, and they made me pay 20% on earnings which I had to send them because they didn't want to deduct from earnings, after paying and waiting more than a month I did received an email saying withdrawal successful but I never received the money, and since then I keep trying to contact them and once I give them my email they stop answering me, I send them 30k US dollars and made a profit of 16k, and paid 3.3k to withdraw and nothing until today
Exposure
2022-01-18
FX5619244782
Hong Kong
My friend induce me to deposit at warlock market under the name of investment. On Jan. 13, 2021, they freezed my account for no reason. I asked platform to unfreeze it, the customer service required me to pay 20% margin, but the platform does not have such rule. I demanded a withdrawal on 14th, but the platform rejected it and blocked me.
Exposure
2022-01-17
FX3453383040
Taiwan
After I initiated the withdrawal, they immediately deducted the MT5 account and asked me to pay 20% tax. They also claimed that my deposit was about 60,000 more than the actual profit. I asked them to deduct and transfer the rest, and their answer was that they could not deduct. I later asked them to cancel it, and the answer was the same: they couldn't. This must be a scam
Exposure
2021-12-13
FX2901995796
United States
After I initiated withdrawal they immediately deducted it from MT5 account and asked me to pay 20% tax. Also they claimed my deposit was approximately 60k more than real profit.I asked them to deduct it and transfer the rest, response was they can't deduct it. I Later I asked them to cancel it, answer was the same: they can't.it is scam for sure
Exposure
2021-10-20
Boris Medina
United States
I complained before, you can see that as resolved, but it wasn't I was told to put as resolved to be able to withdraw, and to pay the taxes on earnings, I did both and after I made them verify they send me an email saying withdrawal successful, but they never deposited money, even on the website under audit desiring was blank, I complained, and they stopped replying to my messages, now they change the website and deleted all information on my account. and they scammed a total of 51K us dollars,
Exposure
2021-10-17
花花世界24600
France
Unable to withdraw. I deposited under the introduction of a man from the Internet. My deposit totaled $100,000 and I lost $250,000. The first time I withdrew, it required 20% margin and blocked the account. I canceled it and tried to withdraw $2,000 and contacted with the customer service. After an hour, I found I could not log in. It had been 31 days and they never replied me. My balance totaled thousands of dollars. It was a scam.
Exposure
2021-09-30
luna8452
Canada
I deposited $30,000 and made profits. I withdrew $1,000 at the first time. But later it said the withdrawal should be less than the 60% of the profit and I had to pay 18% tax. They did not mention it before on the website. Then the account was blank and customer service did not answer. I lost the total ￥200,000. Please stay away from it. Beware.
Exposure
2021-08-25
Kam
Hong Kong
I exposed this fraud platform and was blocked by it. My money in the account was locked.
Exposure
2021-08-15
Eun
Hong Kong
It only allowed withdrawal for first time. Then it asked for taxes before withdrawing. I wanted to know the details of taxes but it directly blocked me. It had different rules toward different users. It was totally a scam. There was no regulation license of FCA or NFA. Do not be cheated.
Exposure
2021-08-15
luna8452
Canada
I deposited $30,000 and withdrew $1,000. But the next time it said the withdrawal should be less than 60% profits. The tax should be paid out from the principal. It was a scam. Stay away from it.
Exposure
2021-08-14
UN123
Canada
I deposited 1000 at first and the scammer cheated me further. Finally I deposited 10000 ustd. But then I was unable to withdraw due to many restrictions. Beware and do not trust it.
Exposure
2021-08-13
CCK
Hong Kong
On 21/7/2021 , I try to withdraw all the money from the Warlock Market, however they need me to paid 20% tax within 3 days, but from the website, it mention no withdrawal fee. Also, the Warlock Market send me an e-mail showing that my money has been withdrawal successfully. However, they didn’t deposit the money on my account. Besides, they send me an e-mail which they deleted my CMR account , they have no right to do that. This is most definitely a scam.
Exposure
2021-08-11
Boris Medina
United States
I transfered 30k to this company to do some trades, after a couple of weeks I made some profit on MT5, I borrowed some of this money, now that I try to take out money to pay the loan I got, they are telling me that I have to pay 20% tax on the earnings before I can take out any money, and I have to wire the money taxes, I told them they can take out from the profits, but they don't do that, they also claim to be regulated by FDA in US, but they are not I think I got scammed
Exposure
2021-08-06
CCK
Hong Kong
The website showed there was no withdrawal fee. But when I applied for withdrawal, it delayed due to many reasons. Then it told me to pay 20% national tax within 3 days and refused to deduct from my balance.
Exposure
2021-08-04