Is Wisdom Legit or a Scam? Key Questions Answered (2026)

Executive Summary: Wisdom (Score 1.51) is an unregulated broker established in 2020 and registered in St. Vincent and the Grenadines. Despite using a UK-based web address, they hold no license from the FCA, creating a high-risk environment for traders.

When you are looking for a place to invest your hard-earned capital, the first thing you need is certainty. You need to know that the digital numbers on your screen represent real, withdrawable money. Currently, Wisdom (also known as Wisdom Forex) holds a WikiFX Score of 1.51, which is classified as a low-score danger signal. Established in 2020, this broker has survived for several years, yet it still lacks the regulatory framework required to be considered safe. Below, we break down the critical risks you face with this broker.

Question 1: Is my money safe with Wisdom?

To give you a direct answer: No, your money is not currently protected by any financial regulator.

According to the latest database check, Wisdom falls under the category of “No License Detected.” While the company claims registration in St. Vincent and the Grenadines, this status does not provide the safety net that most traders assume it does.

The “Offshore” Reality Check

St. Vincent and the Grenadines (where Wisdom is headquartered) is a popular destination for new brokers because of its low entry barriers. However, the Financial Services Authority (FSA) of St. Vincent has explicitly stated that they do not regulate, monitor, or license Forex trading or brokerage activities. This means Wisdom is virtually unsupervised.

Why does this matter to you?

When you trade with a regulated broker (like those licensed by the FCA in the UK or ASIC in Australia), your funds are held in Segregated Accounts. This means the broker cannot use your deposits to pay their electricity bills, staff salaries, or—crucially—to pay out other winning traders.

With an unregulated broker like Wisdom, there is no legal requirement to segregate funds. Your money enters the company's general operational account. This creates what is known as Counterparty Risk: if the broker goes bankrupt or decides to close down, your money is considered a company asset and can be taken by creditors. There is no compensation scheme to refund you.

The Domain Discrepancy

A concerning detail in Wisdom's profile is the use of the domain `fxwisdom.co.uk`. The `.co.uk` extension implies the broker is operating in or targeting the United Kingdom. However, to legally solicit clients in the UK, a broker generally requires authorization from the Financial Conduct Authority (FCA). Wisdom does not hold this license.

Furthermore, the customer service contact number provided (`+359 876 112 340`) is a Bulgarian phone code. This setup—a St. Vincent registration, a UK website address, and a Bulgarian support team—is a common structure used by offshore entities to minimize legal liability while targeting European clients. This fragmentation makes it incredibly difficult for you to pursue legal action if your funds go missing.

Question 2: Why aren't there any complaints?

If you look at the recent complaint logs, you might notice that there are 0 specific user complaints detailed in this current report. You might ask yourself, “If they are dangerous, why isn't anyone shouting about it?”

Do not mistake silence for safety. There are several educational reasons why a risky broker might currently have an empty complaint feed:

1. Low Market Volume: A broker established in 2020 that hasn't achieved mainstream popularity may simply have too few active clients to generate a large volume of public feedback.

2. Filtering: It often takes time for complaints to be verified and published.

3. The “Pending” Trap: Many problematic brokers pay out small withdrawals early on to build trust. Problems often only arise when clients attempt to withdraw larger sums or when the broker stops operations entirely.

It is vital to look at the Disadvantages flagged by the WikiFX system. Despite the lack of specific text stories here, the system has flagged “Multiple exposure information” in its backend analysis. This suggests that while individual stories aren't displayed in this summary, the aggregate data shows users have reported issues.

Pro Tip: Never judge a broker solely by the number of complaints. An unregulated broker with zero complaints is statistically more dangerous than a top-tier regulated broker with ten complaints. A license is a guarantee of law; a lack of complaints is just a lack of data.

Final Verdict: Should I open an account?

Based on the data, we strongly advise against opening an account with Wisdom.

The combination of a 1.51 Score, the lack of any valid regulatory license, and the jurisdictional confusion between St. Vincent, Bulgaria, and the UK creates an unacceptable level of risk for your capital. There are no safety mechanisms in place to protect your deposit.

Your Next Step:

Forex trading is risky enough without worrying if your broker is solvent. We recommend you look for a broker with a WikiFX Score above 7.0 and a verified license from a Tier-1 regulator.

Status changes daily. Before depositing any money, always check the WikiFX App for the latest real-time certificate and regulatory updates.