Robert J. Williams
Reviewed by:
Sikirty Chatterjee
USP: Accessible for low deposit | Multiple account types (Starter, ECN, Pro, Social) | Wide instrument variety
Wingo Markets is an online brokerage offering multiple account types (Starter, ECN, Pro, Social) for trading forex, commodities, indices, crypto and more via the MetaTrader 5 (MT5) platform.
🏦 Headquarters: Limassol, Cyprus
📅 Founded: 2023
📜 Regulation: Claimed “regulated” — though specifics are unclear.
🏦 Supported Countries: Global (no country-restriction list publicly provided)
💻 Platforms: According to the site, offers a “MetaTrader platform” (implying at least MT5 or similar).
💵 Min Deposit: From US$ 20 for “Starter” account.
Company Background
Wingo Markets presents itself as a broker aiming to democratize access to financial markets by offering multiple account tiers (Starter, ECN, Pro, Social Trade) to accommodate both beginners and professional traders. Their mission emphasizes trading education, transparency, and broad access to instruments. In promotional materials, the firm mentions 24/7 support and a large variety of instruments (forex, commodities, stocks, indices, crypto) to appeal to a global clientele.
However, according to independent broker-review and watchdog sites, Wingo Markets is flagged as unregulated and labeled a high-risk or “SCAM” broker. That casts serious doubts on the claimed regulatory safeguards and long-term viability, especially for clients outside highly permissive jurisdictions.
Offers a very low entry-level deposit (US$ 20), which many legitimate brokers with strong regulation don’t.
Provides a “Social Trade” / copy-trading account type — something not all brokers offer.
However, compared to well-regulated brokers, Wingo Markets lacks transparent, verifiable regulatory licensing and credible oversight, increasing risk.
According to multiple independent broker-watchdog reviews, Wingo Markets is not under supervision of any recognized financial regulator (such as FCA, CySEC, ASIC, etc.). Their claimed registration in offshore jurisdictions (Comoros Union, Marshall Islands) does not equal a valid forex/CFD license. This puts Wingo Markets effectively in the “unregulated / offshore” category — meaning it does not offer the protections typical of Tier-1 or Tier-2 regulated brokers (e.g. deposit insurance, segregation of client funds under oversight, regulatory audits).
Claimed registration: Marshall Islands Registry (IRI No. 119709) — but not a regulator for forex services.
Claimed registration/office address in Comoros Union (Comoros) — region does not impose strict forex regulatory oversight.
No valid licenses from recognized regulators like FCA, CySEC, ASIC, CFTC, etc. Independent reviews note the absence of these.
Because of the lack of credible regulation and oversight, Wingo Markets appears to not reliably implement standard safety measures. Reports and reviews raise concerns:
No verifiable deposit-protection or compensation scheme for clients.
Risk of account closure, withdrawal refusal, profit deletion, or unexplained account termination (according to user reports on watchdog sites).
Minimal transparency on staff, company structure, or executive oversight.
Use of offshore registration jurisdictions with loose or no oversight — meaning no external audits, no regulatory compliance obligations, limited recourse for clients.
Given these factors, Wingo Markets cannot be considered a “safe” or “secure” broker under standard regulatory-compliant definitions.
Trading Specs
✅ Instruments: Forex, Commodities, Indices, Crypto (plus Stocks, Metals as per website)
✅ Spreads: From 0.1 pip on EUR/USD (advertised)
✅ Commission: Zero on Starter; low commission on ECN (per website structure)
✅ Leverage: Up to 1:500 (on account types per site)
Detailed Explanation
Instruments: Wingo Markets claims access to a wide variety: forex (majors, minors, exotics), commodities (metals, energy, agriculture), crypto, indices, and stocks — giving traders diverse tools for portfolio diversification.
Spreads: For currency pairs like EUR/USD, Wingo Markets advertises very tight starting spreads (0.1 pip) — potentially beneficial for traders seeking cost-efficient executions.
Commission: For the “Starter” account there’s no commission, which may appeal to small-scale or low-frequency traders. For ECN/Pro accounts spread is tighter and commission is implied to be competitive (though exact amount isn’t clearly published).
Leverage: Up to 1:500 leverage is offered — enabling high margin trading, which increases potential gains but also amplifies risks.
AvailablePlatforms
✔ “MetaTrader platform” (as per official site) — likely referring to MT5.
✔ Web-based trading environment (online account creation, deposit, withdrawal via website) as shown on site.
✔ Social Trade / Copy-trading interface (for followers & providers) — allowing traders to either follow professionals or copy trades automatically.
PlatformFeatures
Platform Feature 1: Market execution — site claims orders execute without delay.
Platform Feature 2: Access to 200+ instruments (Starter) or 900+ instruments (ECN/Pro) depending on account type.
Platform Feature 3: Social Trading / Copy-trade — gives flexibility to follow experienced traders or allow others to follow your trades (for providers).
Platform Feature 4: Support for crypto and traditional assets (forex, metals, commodities, stocks, indices) — promoting diversified trading strategies.
ResearchTools
There is no public evidence on the official site about advanced built-in research tools, analytics dashboards, sentiment tools, or news-feed integration as typically provided by credible brokers.
The emphasis on “tools” seems marketing-oriented, with no transparency on actual research or analytical support.
Account Table
| Account Types | Min Deposit | Spread / Spread Profile | Commission | Platforms |
|---|---|---|---|---|
| Starter | US$ 20 | Normal spreads | Zero | MetaTrader (web) / platform per site |
| ECN | US$ 200 | Tight spreads | Low commission (not clearly specified) | MetaTrader (and web) |
| Pro | US$ 2,000 | Tightest spreads | Lowest commission (not clearly specified) | MetaTrader / web |
| Social Trade | US$ 5 | Low spreads | Low commission (not clearly specified) | Web-based Social Trading interface |
SpecialFeatures
Demo Account: The website mentions ability to “Create Demo Account / Live Account,” indicating they provide demo accounts.
Social (Copy-) Trading / Social Trade Account: Unique social trading offering where followers can copy providers.
No public mentions of Islamic (swap-free) accounts, VIP / Premium accounts or managed accounts — such features are not clearly advertised.
DepositMethods
Accepts USDT (TRC20, BEP20, Polygon) (i.e. cryptocurrencies) for funding.
Also supports ADVcash, Master/Visa Card, Wire Transfer (traditional payment methods) per website.
WithdrawalMethods
Same methods are implied: crypto (USDT) and traditional payment routes (card, wire, etc.) — as per deposit listing.
ProcessingDetails
Processing Time: Not clearly specified on the site. Users in reviews report possible delays and concern over withdrawals.
Deposit Fees: Site does not clearly mention deposit fees.
Withdrawal Fees: Not clearly indicated publicly.
Minimum / Maximum Limits: The minimum deposit is as low as US$ 20 (Starter) or US$ 5 for Social Trade. Maximum limits are not disclosed.
Because Wingo Markets lacks transparent documentation and credible oversight, withdrawal/fee details remain ambiguous — a major risk factor.
Visit Wingo Markets official website.
Click on “Create Live Account” (or “Demo Account”) and fill in personal details.
Verify email/phone — though the site does not clearly mention KYC workflow publicly.
Fund your account via preferred deposit method (crypto, card, wire, etc.)
Log in to trading platform (MetaTrader or web-based).
Choose trading instrument (forex, crypto, commodities, etc.) from available list.
Analyze chart, apply indicators (assuming standard MT features) — though no proprietary research tools are explicitly advertised.
Place your trade (Buy/Sell), set Stop-Loss (SL) / Take-Profit (TP).
Monitor position and close manually or rely on platform order management.
Summary: On paper, Wingo Markets presents an easy-to-use onboarding and trading process — similar to many online brokers — which may appeal to beginners due to low entry cost and straightforward deposit/trade flow. However, the lack of transparency in critical areas (regulation, fund safety, withdrawal reliability) undermines any purported ease-of-use.
SupportChannels
The site claims “24/7 Customer Support” and “Expert Guidance” for clients.
Contact via email and phone (as listed on their site) — e.g. phone: +35725591367; email: info@wingomarkets.com
SupportHours
Claim: 24/7 (per official website)
AdditionalDetails
Multilingual support: Not explicitly confirmed on site.
Dedicated account manager for VIPs: Not publicly described.
Response time or satisfaction metrics: No verified independent data; reviews are mixed — some users praise “good customer service” and “fast payments”, while others report “profit deletion” or “withdrawal issues.”
Given the conflicting feedback and lack of verifiable transparency, support reliability remains uncertain.
“Ideal for traders seeking low-cost entry and exposure to diverse instruments — provided they accept high regulatory and counter-party risk.”
AvoidIf you’re looking for a broker with transparent regulation, strong fund protection, and reliable withdrawal infrastructure — Wingo Markets’ lack of credible licensing and recurring fraud allegations make it a risky choice.
BottomLine: Wingo Markets offers attractive features on paper — low minimum deposit, multiple account types, broad asset access, social trading. But serious red flags around regulation, transparency, and trustworthiness significantly overshadow those benefits. Given the weight of independent warnings and user complaints, I cannot recommend Wingo Markets as a safe or reliable broker.
2025 BROKERINSPECT
Disclaimer: Trading forex, CFDs, cryptocurrencies, and other derivatives involves substantial risk and is not suitable for all investors. Leverage can amplify both gains and losses. Market volatility, system failures, and third-party service risks can result in significant financial loss. Past performance does not guarantee future results. This content is for informational purposes only and does not constitute investment advice. Seek professional guidance before making any financial decisions. For a full overview of associated risks and our disclaimers, click here.
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