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CITYWEALTH
New Zealand|5-10 years| http://www.citywealth.co.nz/
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CITY WEALTH MARKETS LIMITED
CITYWEALTH
New Zealand
Pyramid scheme complaint
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- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
- The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
- New ZealandFSPR (license number: 293006) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
- This broker exceeds the business scope regulated by New Zealand FSPR(license number: 293006)Financial Service Providers Register Non-Forex License. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:100 |
| Minimum Deposit | $50000 |
| Minimum Spread | -- |
| Products | Forex, gold, silver, CFD |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:400 |
| Minimum Deposit | $200 |
| Minimum Spread | 1.5 |
| Products | Forex, gold, silver, CFD |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:100 |
| Minimum Deposit | $10000 |
| Minimum Spread | 0.6 |
| Products | Forex, gold, silver, CFD |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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CITYWEALTH · Company Summary
General Information & Regulation
Established in 2013, CityWealth is a New Zealand Registered broker operated by Hortense Holdings Limited. CityWealth is not subject to any regulation, so it is unsafe to trade with this broker.
Official Website Unavailable
Since CityWealth cannot be opened at this moment, we collect some useful information from brokers review website to show you this broker.
Market Instruments
Tradable financial instruments available on the CityWealth platform include currency pairs, shares, commodities and indices.
Minimum Deposit
The minimum deposit required by CityWealth is $250 and can be deposit in USD, EUR, GBP, CNY, JPY currencies. Although this requirement is reasonable, traders are not advised to register real trading accounts here given the fact that CityWealth is unregulated.
Minimum Trade Size
The minimum trade size allowed by CityWealth is 0.01 lots, friendly to beginners.
Leverage
CityWealth offers leverage up to 1:400, which is high. Since leverage can amplify gains as well as losses, inexperienced traders are not advised not use too high leverage.
Spreads & Commissions
In terms of spreads and commissions, spread on the currency pairs EUR/USD pair is 0.6 pips on a standard account type.
Trading Platform Available
When it comes to trading platform available, CityWealth offers MT4 trading platform, available in Windows, PC, Mobile devices. Since CityWealth is an unregulated broker, traders should not trade on this platform in spite of its leading trading platform.
Deposit & Withdrawal
Payment methods working with CityWealth include wire transfer, credit and debit cards. Some other popular online payment processors including PalPay, Skrill and Neteller are not available.
Customer Support
CityWealth does not offer a dedicated customer support and they can be reached through telephone: +4000091977, email: support@citywealth.co.
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