Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighOne genuine licence confirmed on MISA's own register with the correct entity and domain, but MISA is tier four with no compensation scheme, the certificate's term ended 14 June 2025 with no published renewal, and the second advertised credential does not resolve on FinCEN's register.
Identity & transparency
6/10 · HighEntity, company number and licence number are disclosed and the register confirms them, but three different addresses are published across Comoros, Montenegro and Cyprus, the Cyprus one is a serviced office, no owners or executives are named, and the Persian funnel claims a Canadian registration.
Withdrawals & conduct
7/10 · HighTen or more fund-integrity reports across platforms describe the same mechanism of profits deleted and accounts closed, with amounts, dates and account numbers, and the broker admits removing profits; offset by refunded principal evidenced with transaction hashes, public replies and at least one resolved case.
Reputation
7/10 · HighTrustpilot has suspended the score for a guidelines breach and removed fake reviews, the distribution is bimodal, and recovery-room operators are already harvesting clients on its review pages; no regulator warning exists on any list we swept.
Website claims
8/10 · CriticalAn anti-money-laundering filing is presented as United States Treasury oversight, and the broker's own Persian partner site states the firm is registered in Canada and that FinCEN supervision guarantees financial security; awards and an 86,000 trader figure are unevidenced, though the 2023 founding claim is honest.
Operational history
4/10 · ModerateAbout three years and four months verified from the April 2023 domain and the June 2023 licence, with the advertised founding year matching the evidence; treated as an upper bound because the Mwali registrar publishes no incorporation dates.
Who they are
A quick desk file on the company behind the brand.
- Brand: Wingo Markets (WingoMarkets)
- Legal entity: Wingo Group LTD, company number HY00523010
- Registered: Autonomous Island of Mwali (Moheli), Comoros Union. The site gives its registered office as New City, Acton Building, No. 64, 106, Podgorica, Montenegro, and its contact address on third-party profiles as Number 6, Vasili Vryonides str., Gala Court Chambers, office 503, Limassol, Cyprus, a serviced-office building.
- Website: wingomarkets.com, registered 25 April 2023. Client portals at clientx.wingomarkets.com and client.wingomarkets.com.
- Only real licence: MISA (Comoros) International Brokerage and Clearing House Licence T2023302, issued 14 June 2023, tier 4.
- Also advertised: a US Treasury and FinCEN money-services registration, which is an anti-money-laundering filing rather than a trading licence, and whose number we could not find on FinCEN's register.
- Offers: MetaTrader 5 on a server named WingoGroupLtd-Server, forex, metals, indices, commodities, crypto and stock CFDs, leverage to 1:500, social and copy trading, an IB programme. Deposits from 50 dollars by card, e-wallet (Volet, ADVCash) and USDT on three chains.
- Marketing focus: heavily Iran and Turkey. A Persian partner site advertises Iranian rial deposits and instant rial withdrawals, and the MetaTrader server is hosted in Iran.
- Age claim: founded 2023, which matches the evidence. The domain dates to April 2023 and the licence to June 2023.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Mwali International Services Authority (MISA)
FinCEN (Financial Crimes Enforcement Network), US Department of the Treasury
Why we reached this verdict
How the evidence adds up.
Three independent findings carry this, and they come from different kinds of source: a regulator's register, client complaints, and the broker's own published material.
- A documented pattern of profits being taken back. Ten or more clients across Trustpilot, a second review platform and a third-party broker directory describe the same sequence: trade, become profitable, then find the account closed or frozen and the profit gone. The detail is checkable. One client in Denmark itemises a balance split into 7,980 dollars and 1,428 dollars, the larger part drained to zero with the log entry reading 'Balance Correction' while no trades were open. A client in Hong Kong reports all profits plus 250 dollars of principal deducted after two weeks of trading. A client in Bulgaria (account 494906) reports principal deducted without procedure. The complaints cluster between April and June 2026.
- The broker confirms the mechanism. In its own public replies it states that accounts in breach of its terms 'may be subject to adjustments, including the removal of profits and balance corrections', and that arbitrage and high-frequency trading are prohibited. So the disagreement is not about whether profits are removed. It is about whether the reason given is fair, and the client never gets to test that anywhere independent, because a MISA licence comes with no ombudsman and no appeal.
- One advertised credential does not resolve. The regulations page presents a US Treasury registration as one of two pillars of oversight. Searching FinCEN's MSB Registrant Search by the exact number 31000253973445, and separately by the name Wingo, returns no match. FinCEN's register is authoritative and searchable both ways. FinCEN itself warns that fraudsters use MSB registration to appear approved and that inclusion is not an endorsement, so presenting it as 'registered with the US Department of the Treasury for compliant financial services' overstates it even if the filing were current.
- False statements in the broker's own Iranian funnel. The partner site wingomarketsbroker.com, which links straight into Wingo's referral links on client.wingomarkets.com, states the firm is 'Registered in Canada' and that it 'operates under FinCEN supervision, ensuring compliance with strict anti-money laundering standards and guaranteeing user financial security'. Wingo Group LTD is incorporated in the Comoros, as the broker's own footer says. Nothing supervises the brokerage, and no broker can guarantee financial security.
- Review manipulation. Trustpilot has suspended the company's score for a breach of its guidelines and states it removed a number of fake reviews. The remaining 44 reviews are 62 percent five-star and 27 percent one-star with almost nothing between, the shape a managed review base takes.
- Not everything points one way, and the score reflects that. The MISA licence is real and the register names the correct company and the correct website, so this is not a clone and not an invented regulator. A live MetaTrader 5 server exists, so real trading is happening. The broker replies to complaints with specifics and has produced transaction hashes evidencing refunded deposits, and one complainant updated a review to say the matter was resolved. Several clients report withdrawals arriving normally. That is why this is 70 percent rather than higher, and why we describe conduct rather than asserting a crime: no regulator or court has ruled on Wingo Markets, and we assess the risk of fraud as high on the evidence above.
- The age figure is an upper bound. The Mwali registrar publishes no incorporation dates, so the operating history rests on the April 2023 domain and the June 2023 licence, about three years and four months.
Evidence ledger
Every finding, with its source and how strongly it points.
E1MISA's authorised brokerage list records Wingo Group LTD at row 63 with licence T2023302, dated 14/06/2023, status Active, and the website https://wingomarkets.com/. Name and domain both match the broker we examined, so the licence is genuinely this operation's and this is not a clone.
E2The MISA licence verification record for Wingo Group LTD gives company number HY00523010, licence T2023302, issue date 14 June 2023, status Active, website https://wingomarkets.com/ and a licence end date of 14 June 2025, with the record stamped 14 June 2024. The only documented term has passed and no renewal is published, while the licence is still advertised as current.
E3FinCEN's MSB Registrant Search returns no match for registration number 31000253973445, and separately no match for the legal name Wingo. The register is authoritative for United States money-services registrations and searchable by both number and name.
E4FinCEN states on that same page that it does not approve or endorse any business registered as an MSB, that such claims are false and may be part of a scam, and that inclusion is not a recommendation or certification of legitimacy. The broker presents this registration as being registered with the US Department of the Treasury for compliant financial services.
E5The broker's regulations page advertises exactly two credentials, MISA licence T2023302 with company number HY00523010, and FinCEN USA MSB licence number 31000253973445, and links the second to a FinCEN landing page rather than to its own record.
ModerateWingo Markets regulations pageE6The site's risk warning names Wingo Group LTD, incorporated in the Autonomous Island of Mwali, Comoros Union, company number HY00523010, licence T2023302, with a registered office in Podgorica, Montenegro. The homepage advertises a Mwali licence and a US Treasury registration side by side under the heading Regulated and Licensed.
E7A client states she deposited 15,000 dollars in April 2026 having already completed verification, was then asked for a second round of documents with a two-day deadline, and had the account permanently blocked and the money kept, with statements and records refused and a withdrawal shown in a confirmation email that she says was the broker taking the funds. The broker replies that the withdrawal was not processed because identity verification is outstanding.
E8Replying publicly to a client who said principal was deducted without procedure, the broker states that accounts found in violation of its terms may be subject to adjustments including the removal of profits and balance corrections, and cites account ID 494906. This is the broker confirming the mechanism the complaints describe.
E9Further clients report the same sequence: a Nigerian client says a profit was made and the account closed with money deducted from the deposit; a client trading for a year says the account was blocked after successful weekly withdrawals with about 1,300 dollars outstanding; another says profit was withheld on an unproven allegation. The broker answers each citing prohibited high-frequency trading or arbitrage under its terms.
E10Complaints on a third-party broker directory describe the identical mechanism from different users: a Danish client itemises a 9,410 dollar balance split into 7,980 and 1,428 dollars with the larger part drained to zero under a log entry reading Balance Correction while no trades were open; a Hong Kong client reports all profits plus 250 dollars of principal deducted; a second Danish client reports both accounts closed without notice and funds blocked after refusing a forced crypto withdrawal. This puts the same pattern on a second platform.
ModerateComplaint threads on a third-party broker directory, April and May 2026E11Trustpilot displays a warning that the company's rating is unavailable due to a breach of its guidelines and states it removed a number of fake reviews. The surviving 44 reviews run 62 percent five-star, 7 percent four-star, 2 percent three-star, 2 percent two-star and 27 percent one-star, a bimodal shape with a hollow middle.
E12A Persian and English partner site in the broker's own referral system states that Wingo Markets is Registered in Canada and that it operates under FinCEN supervision, ensuring compliance with strict anti-money laundering standards and guaranteeing user financial security. It advertises Iranian rial deposits and instant rial withdrawals, links to wingomarkets.com pages and routes signups through client.wingomarkets.com referral links. The Canadian registration contradicts the broker's own Comoros incorporation disclosure.
E13The domain wingomarkets.com was registered on 25 April 2023 through GoDaddy on Cloudflare nameservers. The partner domain wingomarketsbroker.com was registered on 19 January 2026 through a Turkish registrar. Both are consistent with the broker's stated 2023 founding, so there is no age misrepresentation.
ModerateVerisign RDAP recordsE14No entry naming Wingo Markets, Wingo Group LTD or wingomarkets.com appears on the IOSCO alert network or the FCA, CFTC, ASIC, Australian consumer, CONSOB or BaFin warning lists. There is no enforcement action and no fraud-related court record naming this entity. An FCA warning for a similarly named firm, Wings Finance, concerns a different company and is not attributed here.
ModerateRegulator warning-list sweepE15In two separate public replies the broker published a blockchain transaction hash and a transaction ID evidencing refunded deposits, and one complainant subsequently updated the review to say the issue had been resolved. Other clients report withdrawals completing within hours. Principal is demonstrably returned in at least some disputed cases.
E16A live MetaTrader 5 server named WingoGroupLtd-Server is verified as operating, hosted in Iran, confirming a real trading operation rather than a self-hosted fake terminal. Deposits run over Mastercard, Volet and ADVCash alongside USDT on three chains, so this is not a crypto-only funnel.
E17The Limassol contact address the broker publishes on third-party profiles, Number 6 Vasili Vryonides str., Gala Court Chambers, office 503, is a serviced-office building marketed by several office-rental agents, and a company-services firm selling broker and securities dealer licensing operates from the same building. Together with a Montenegro registered office and Comoros incorporation, the operation publishes three different national addresses.
E18The broker's review page on a second review platform, rated 1.1 from 34 reviews, is substantially occupied by posts promoting a named fund-recovery outfit rather than by client accounts of the broker. Recovery-room operators harvest victims of brokers where money has been lost, so their presence indicates a victim pool while providing no reliable evidence about the broker itself.
E19The company describes itself as a multi-award-winning leader in online trading services and the homepage advertises 86,000 or more traders. No award is named anywhere on the site and no basis is given for the client figure.
E20Searches on the entity name, the licence number, the published addresses and the phone numbers surface no earlier brand, no predecessor domain and no rebrand history. Nothing indicates this operation previously traded under another name.
The other side
The strongest case in this broker’s favour.
The strongest honest case for Wingo Markets, which we tested rather than assumed.
- The licence is genuine and correctly attributed. This matters more than it sounds. Most brokers we rate this harshly are wearing someone else's paperwork. MISA's register lists Wingo Group LTD, company number HY00523010, licence T2023302, and the website field reads wingomarkets.com. Name and domain both match, so the impersonation test passes cleanly.
- The anti-arbitrage argument is a real one. Bans on latency arbitrage and high-frequency trading exist in the terms of most retail brokers, including well-regulated ones, and enforcing them against a client who ran a scalping strategy is a commercial dispute rather than theft. Wingo says this is what happened in several of the cases, and in at least one it noted that most of the profit had already been paid out before the review.
- Deposits do come back. The broker published a blockchain transaction hash for a Nigerian client's refunded principal and a transaction ID for a Malaysian client's 50 dollars, and that second client changed the review to thank them. A pure boiler room does not refund principal or hand out verifiable hashes.
- The infrastructure is real. There is a live MetaTrader 5 server, WingoGroupLtd-Server, not a self-hosted fake terminal. Deposits run over cards and e-wallets as well as crypto, so this is not the crypto-only funnel typical of pig-butchering sites.
- No regulator anywhere has warned about it. We swept the IOSCO alert network and the FCA, ASIC, CFTC, CONSOB, BaFin and Australian consumer lists. No entry names Wingo Markets or its domain. There is no enforcement action and no fraud-related court record naming this entity.
- The age claim is honest. A broker saying 2023 when the domain and licence both date to 2023 is doing something the majority of offshore brokers we review do not do.
- No hidden past. We looked for a predecessor brand through the entity name, the licence number, the addresses and the phone numbers. There is no earlier brand and no rebrand history, so nothing is being carried over from a burned name.
- Where this case is weakest for us: if the profitable accounts really were arbitraging, then the pattern we found is a broker enforcing its terms against a self-selecting group of clients who then complain loudly. We cannot audit the trade logs. What keeps the verdict where it is: the 15,000 dollar case involves no arbitrage allegation at all, only a client already verified before depositing who was asked for fresh documents afterwards and then blocked, and the false Canada and FinCEN-supervision claims in the Iranian funnel are not explainable as a trading dispute.
What would change this
What we would need to see to revise the verdict.
This verdict is falsifiable. Any of the following would move it, and the first two would move it a long way.
- Evidence that the disputed profits were paid. Transaction records showing the Danish 9,410 dollar balance, the 15,000 dollar deposit and the Hong Kong client's profits released would collapse the fund-integrity finding, which is the heaviest item against the broker.
- An independent adjudication. A ruling from a dispute body or a court on any of these cases, either way. At present nobody neutral has looked at the trade logs, and that gap is doing a lot of work in both directions.
- A current FinCEN entry. If registration 31000253973445 appears on the MSB Registrant Search under Wingo Group LTD, that claim becomes accurate rather than unverifiable. It would still not be a trading licence.
- Correction of the Iranian funnel. Removing the 'Registered in Canada' statement and the claim of FinCEN supervision guaranteeing financial security, or producing a Canadian registration number, would remove a whole class of finding.
- Published renewal of the licence. The MISA certificate records a term ending 14 June 2025. A current certificate showing renewal would close that gap.
- A restored Trustpilot score. If the guidelines breach is resolved and the score is reinstated, the review-manipulation finding falls away.
- What would make it worse: a regulator warning naming the domain, a credible and specific demand for an extra payment before funds are released (we found none, and that would be decisive), or complaints continuing into late 2026 with the same mechanism.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
MISA licence verification for Wingo Group LTD
The issuer's own record: licence number, company number, status and dates.
MISA list of authorised brokerage companies
Wingo Group LTD appears at row 63 with the website wingomarkets.com.
FinCEN MSB Registrant Search
Check the claimed United States registration yourself. Search by number 31000253973445.
Wingo Markets regulations page
The broker's own statement of the two credentials it relies on.
Trustpilot reviews for wingomarkets.com
Client reports and the broker's replies, plus Trustpilot's notice about fake reviews.
Frequently asked questions
Quick answers about this broker’s safety.
Is Wingo Markets a scam?
We rate it a likely scam, at 70 percent risk. It is not a fake company and not a clone: the Comoros licence it advertises is genuine and registered to the right entity and website. The problem is conduct. Clients across several platforms describe accounts being closed and profits removed once they turned a profit, and the broker confirms in public replies that it removes profits and makes balance corrections when it decides terms were breached.
Is Wingo Markets a fraud?
No regulator or court has found fraud, and there is no enforcement action or fraud-related court record naming Wingo Group LTD. On the evidence we gathered we assess the risk of fraud as high, because profits are being deleted from client accounts and one large deposit remains unreturned. That is our assessment, not a legal finding.
Is Wingo Markets regulated?
It holds one real licence, from the Mwali International Services Authority in the Comoros, number T2023302, issued 14 June 2023. We confirmed it on MISA's own register. MISA is a bottom-tier offshore registrar rather than a functioning financial supervisor, so in practice the licence gives you very little. No tier-one authority such as the FCA, ASIC or CySEC regulates this broker.
What about the US Treasury registration on its website?
That is a money-services-business registration with FinCEN, which is an anti-money-laundering filing, not a licence to run a brokerage. FinCEN states plainly that being listed is not an approval or endorsement and warns that fraudsters use MSB registration to appear approved. We searched FinCEN's register by the number shown, 31000253973445, and by the name Wingo, and neither returned a match.
Can I withdraw my money from Wingo Markets?
Many clients do, and some report withdrawals arriving within hours. The risk is specific: if you build a large profit, the account may be closed and the profit removed on the grounds that your strategy breached the ban on arbitrage or high-frequency trading. In several documented cases the initial deposit was refunded, with a transaction hash as proof, while the profit was not.
Is my money safe with Wingo Markets?
No, in the sense that matters: there is no compensation scheme, no enforceable segregation of client funds and no complaints body behind a MISA licence. If the broker takes your balance, there is no regulator to appeal to and no fund to reimburse you. Treat anything you deposit as money you could lose entirely.
Who owns Wingo Markets?
The operating company is Wingo Group LTD, incorporated in the Autonomous Island of Mwali in the Comoros with company number HY00523010. No directors, owners or executives are named anywhere on the website or in the register. The firm gives a registered office in Podgorica, Montenegro and a contact address in a serviced-office building in Limassol, Cyprus.
How old is Wingo Markets?
About three years and four months. The domain wingomarkets.com was registered on 25 April 2023 and the MISA licence was issued on 14 June 2023. The company says it was founded in 2023, which matches. That figure is an upper bound because the Mwali registrar publishes no incorporation dates.
What is a MISA licence worth?
Very little. MISA is the company registrar of Mwali, an autonomous island of the Comoros, and it sells brokerage authorisations cheaply. It does not supervise trading conduct, audit client funds, run a compensation scheme or handle client complaints. Its main value to a broker is being able to write the word licensed on a website.
Is Wingo Markets a clone of another broker?
No. We ran the impersonation test and it passed. MISA's register lists the licence to Wingo Group LTD and records the website as wingomarkets.com, which is the site we examined. The brand does not copy a larger firm and we found no earlier name or rebrand history.
Why do Trustpilot reviews look strange?
Trustpilot has suspended the company's rating for a breach of its guidelines and says it removed a number of fake reviews. What remains is 44 reviews split 62 percent five-star and 27 percent one-star with almost nothing in the middle, which is the shape a managed review base takes rather than an organic one.
Does Wingo Markets accept clients from Iran?
Yes, and it targets them actively. A Persian-language partner site inside Wingo's own referral system advertises Iranian rial deposits and instant rial withdrawals, and the MetaTrader 5 server is hosted in Iran. That same page tells readers the firm is registered in Canada and supervised by FinCEN, neither of which is true.
What should I check before depositing with any broker?
Find the licence number and search it on the regulator's own register, not on the broker's site, and check that the register names the same company and the same website. Then ask what the licence actually protects: whether there is a compensation scheme and somewhere to complain. Finally read the terms on arbitrage, high-frequency trading and the broker's right to adjust balances.
What do I do if Wingo Markets has taken my money?
Put your complaint to the broker in writing and keep the replies. Ask your card issuer or payment provider about a chargeback straight away, since those windows are short, and preserve wallet addresses and transaction hashes for crypto deposits. Report it to the police or financial-crime unit where you live. Do not pay anyone who offers to recover your funds for an upfront fee, because recovery solicitations are already appearing on this broker's review pages.
What we recommend
The practical takeaway from everything above.
If you are considering Wingo Markets, or already have money there, the practical points are these.
- Do not deposit money you would not walk away from. A MISA licence carries no compensation scheme, no client-money segregation requirement you can enforce and no complaints body. If profits are removed, there is no regulator to appeal to.
- Be aware of what the profit rules mean for you. The broker reserves the right to remove profits and correct balances where it decides a strategy breached its terms, and it has done so. If you scalp, use an expert advisor, news-trade or copy a fast strategy, understand that your gains sit at the broker's discretion.
- Complete identity verification before you fund the account, and keep the proof. The most serious unresolved case began with a fresh document demand made after a large deposit landed.
- Keep your own records. Export statements, save ticket numbers, screenshot balances and keep deposit receipts and transaction hashes. Clients in these cases were locked out of their own history, and the ones who could document anything are the ones with a case.
- Withdraw profits promptly and in small amounts rather than letting a balance build. The accounts that were closed were the ones holding a large gain.
- Ignore anyone offering to recover your money for a fee. Recovery solicitations are already being posted on Wingo's review pages. Paying them is how one loss becomes two.
- If funds are being withheld: raise a written complaint with the broker, ask your card issuer or payment provider about a chargeback within their time limit, and report to the police or financial-crime unit where you live. For crypto deposits, keep the wallet addresses and hashes.
- For our own records: flag the profile as scam provisionally, show a risk banner, correct the two licence errors on the broker page, and re-check in 90 days.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed September 8, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.