Is WeTrade a scam?

• Brand: WeTrade, a mobile-first CFD trading app.
• Legal entity: We Mobile Co., Ltd, named only in the site's copyright line. No company number, registered address or named officers were ever published.
• Registered: not disclosed. The only Hong Kong company recorded under the name We Mobile Co., Limited is registration 0868501, later renamed We Global Investment Co., Limited and recorded as dissolved. Because the broker never published a company number, that record cannot be tied to this operation with certainty.
• Website: wetrade.one, offline since February 2026 and no longer resolving. The client-facing subdomains webtrader.wetrade.one, app.wetrade.one and mt.wetrade.one are dead too.
• Only licence: a Mauritius FSC licence number, GB21026897, which the FSC says the brand never held. No verification link to any register was published beside it.
• Offers: CFDs on roughly 80 instruments (forex, metals, energies, indices, stocks), leverage from 50:1 to 500:1, a minimum trade size of one dollar, and a 'Quick play' mode advertised as 'Earn +100% profit in minutes'.
• Offices claimed: Corporation Street in Manchester (no street number given), 120 Spencer Street in Melbourne and 155 West Street in Sandton, Johannesburg. It held no UK, Australian or South African authorisation.
• Not accepted: citizens and residents of the United States.
• Age claim: 'WeTrade was founded in 2018', while the same page advertised only '3+ Years in the industry' in December 2024. The earliest verifiable trace of the operation is September 2021.

Five findings carry this verdict, and the first one is the regulator's own.

• The Mauritius regulator says the licence was never real. WeTrade's site carried exactly one regulatory claim: 'Regulated by Financial Services Commission, Mauritius (FSC) under the license number GB21026897'. On 12 January 2023 the FSC published an investor alert stating that an entity called WeTrade was falsely claiming to be regulated by the FSC and was making fraudulent use of the licence number of a licensed entity on its website, and that WeTrade has not, at any point in time, been licensed and regulated by the FSC. The alert names the brand rather than the address, so we tested whether it could belong to one of the other brokers using the name. It cannot: the WeTrade at wetrade.com publishes ASIC, CySEC, Labuan, Seychelles and Saint Vincent registrations and makes no Mauritius claim at all, and the two other same-name operations on regulators' lists are tied to different websites. The only WeTrade displaying an FSC licence number on its website was this one.
• Nothing on the register. We searched the FSC Register of Licensees for WeTrade, for We Mobile and for the bare prefix We. There is no entry under any of them. The site also published no link to any register beside its licence number, which is the opposite of what a supervised firm does.
• The money did not come back. The reviews filed against www.wetrade.one describe one mechanism, repeatedly: a withdrawal request is accepted, the status sticks at 'In review', no second request can be started while the first is open, email goes unanswered and there is no other support channel. The accounts are specific and checkable: a request timed at 06:38 Indian time on 1 December 2025, another on 5 January 2026 still unpaid ten days later, a customer ID quoted in full, 5,000 rupees deposited and never credited, balances above 5,000 dollars locked. One client reports the status unchanged for five to six months before the account was blocked. The reports run from mid-2023 and spike into a terminal cluster between December 2025 and February 2026.
• The broker's own small print describes the trap. Its FAQ promised that the manual review on a first withdrawal is usually processed within a few hours, and that while a withdrawal is being processed no further withdrawal can be initiated. That is precisely the state clients were left in, indefinitely.
• Then the operation vanished with the balances inside it. Users reported the app failing to open from the middle of February 2026. The last working captures of the site and of its price feed are dated 3 February 2026. The Android package the site distributed has been removed from Google Play, both iOS listings are gone, the web trader is dead, and wetrade.one itself no longer resolves; the .one registry holds no record for the name.

How the figure is built: regulation 10, identity and transparency 9 and the withdrawal record 9 each count double; website claims 10, reputation 9 and operating history 7 count once. That averages 9.1 out of 10, or 91 per cent. One regulator finding plus four supporting findings drawn from the register, the review record, the broker's own pages and the archive meets the threshold for a confirmed verdict.

One limit on the history. The operation's verifiable life runs from September 2021, when its app subdomain was first captured, to February 2026, roughly four and a half years. That figure is an upper bound rather than a measurement, because We Mobile Co., Ltd could not be dated: the Hong Kong Companies Registry releases company records only through its registered-user portal, so no incorporation date is publicly listed. The advertised 2018 founding is three years older than anything we could evidence, and the site contradicted itself on the same page by claiming only '3+ Years in the industry'.