Torex Wealth Review

Torex Wealth Review

Torex Wealth is an unregulated and untrustworthy brokerage firm that misleadingly presents it as a legitimate South African forex broker. Read this complete Torex Wealth review to know why we added this broker to our scam brokers 2023 page.

In light of this, it is strongly advised to steer clear of investing with Torex Wealth. Instead, it is advisable to explore alternative options that prioritize your best interests and provide a transparent and dependable trading experience.

Torex Wealth Website –

Address – 9, Clydesdale Boulevard North 1666, City of Johannesburg, South Africa

Warning – Financial Services Authority (Seychelles)

Regulated – Unregulated, Blacklisted

Is Torex Wealth legit or a scam?

Even though Torex Wealth endeavors to deceive traders by portraying itself as a properly registered South African forex broker, it is vital to emphasize that the broker lacks approval from the country’s regulatory body, the Financial Sector Conduct Authority (FSCA).

Participating in investments with an unlicensed and unauthorized broker such as Torex Wealth can subject your funds and overall financial security to substantial risks.

Warnings issued against Torex Wealth

Torex Wealth received a warning from the FSA Seychelles, it is essential to note that Torex Wealth lacks any affiliation with entities licensed or authorized by the FSA, thereby refuting any assertions of association with GCMT Limited. Consequently, Torex Wealth does not fall under the purview of GCMT Limited, and all claims to the contrary are false.

Moreover, Torex Wealth operates without regulatory oversight. Investing funds with this broker carries a high degree of risk, as there are no legal safeguards in place to protect those funds. For the safeguarding of your investments, it is strongly advised to contemplate established brokers operating within recognized jurisdictions.

Victim of Torex Wealth scam? Submit a Quick Complaint Here!

Torex Wealth Review: Trading Platform

Torex Wealth pledges an innovative web-based trading platform, but the actual offering disappointingly falls well below expectations. In truth, it merely consists of a rudimentary charting platform powered by TradingView. This platform lacks the essential features needed for genuine trading activities, leaving users unable to fully engage in the thrill of profit and loss experiences.

The market abounds with trustworthy brokers who not only offer highly praised software such as the MetaTrader platforms but also prioritize the safety and security of their clients.

Torex Wealth Review: Payment Methods

Torex Wealth provides a range of six distinct account types, each with its specific minimum deposit requirement. Notably, the Basic account emerges as the most budget-friendly option, mandating a minimum deposit of $200.

In the context of depositing funds with Torex Wealth, traders are solely expected to utilize cryptocurrencies as their payment method. Accepted cryptocurrencies for deposit include well-known options such as Bitcoin, Ethereum, and Tether.

Torex Wealth Review: Trading Conditions

Notwithstanding the platform’s dubious reputation, it’s important to highlight that the company does provide a diverse array of trading instruments. These encompass Stocks, Funds, Futures, Forex, CFDs, Cryptocurrencies, Indices, and Bonds.

Additionally, while the company asserts to offer competitive spreads, they conveniently refrain from disclosing precise figures or details regarding these spreads.

Torex Wealth offers leverage within a moderately conservative range, with ratios of up to 50:1. This implies that traders have the potential to magnify their trading positions by a maximum of 50 times their invested capital.

Torex Wealth Review: Conclusion

In the unfortunate event of falling victim to a Torex Wealth scam or any other scam like forex scam, cryptocurrency scam, investment scam, or romance scam, there is a proactive means of seeking redress. Fill out a complaint form on our website, and you will get a free consultation with our specialists to explore the potential steps toward recovering your funds.

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