WrPro: Legit Broker or Just Another Scam?

Once again, we turn our attention to brokers who promise traders strict regulation, even if it’s based on an offshore license. Our WrPro review focuses on another company in this category. One of the banners on its homepage proudly displays the slogan: “The Future of Trading is in Your Hands,” while its offerings include over 500 trading instruments, accounts for clients of all levels of wealth and experience, a top online platform, and more. From our own experience, it is clear that not every platform can be trusted. Are users being lured into another scam? Does the company ensure the safety of funds and payments? Can its claims on the official website be trusted at all? If you want answers, read on in our materials.

Does WrPro Show Any Risk Factors?

In the footer of the site, it is stated that www.wrpro.com and www.wrc1.com are operated by GMBB Investment Ltd, which uses the trading name WrPro, is registered in the Republic of Mauritius, and operates under a license from the local financial regulator, the Financial Services Commission (FSC). Registration and license numbers are provided, giving all the information needed for verification.

As we can see, the Mauritius business registry indeed contains a record for GMBB Investment Ltd. It is registered as a GBC (Global Business Company) on March 14, 2023, under number C195321. These details, including the registered address, fully match the information provided by the broker.

A search in the FSC of Mauritius Register of Licensees also returned a positive result. The company indeed obtained an Investment Dealer license on March 15, 2023, authorizing it to provide a full range of financial market services, excluding underwriting.

At the same time, it is worth noting several facts:

• The entry in the Register of Licensees does not contain information about trading names or website addresses used by the license holder (the local regulator’s disclosure policy does not require publishing these data). Therefore, no one can guarantee that the broker and its official websites actually belong to the company that obtained the license. Since all the data are publicly available, it took us about 5 minutes to obtain them. Fraudsters can find the necessary information just as quickly and use it for their own purposes.
• The trading and domain names indicated by the platform do not match the company’s name. As a rule, project owners try to create recognizable brands, whose names are at least similar to the company’s name. In most cases, scammers do not follow this rule, as they are not ready to register a new offshore company and purchase a license for each scam broker. Of course, this is not an absolute statement — nothing prevents honest online platform creators from doing the same. However, this approach still raises concerns.
• In the snapshots from the Web Archive service we can see that the domain wrpro.com was still listed for sale by the host as of August 2024, and the first snapshot of a working site appeared only in December 2024. Before that, the company operated on https://www.wrc1.com (already mentioned), the domain of which was registered on June 21, 2023, i.e., three months after the company was created and obtained its license. Why did the company start working online with such a delay? Why was a domain name change necessary? We do not have answers to these questions.

On the Trustpilot portal, we were able to find that the first wrpro.com review appeared only after January 3, 2025. On that day, the wrc1.com account was merged with the current one, and all comments about the broker’s activities were included in the latest account. It turns out the company collected 200+ publications over 2.5 years — about 80 posts per year on the platform (or on average one review every 4 days) — an excellent indicator.

Unfortunately, it does not inspire trust, as 83% of the authors praise the company to the maximum. Knowing how reluctant users are to leave positive reviews, we are inclined to believe that they were commissioned by the company and, of course, well-paid.

Meanwhile, about two dozen authors provide detailed explanations of why they formed a negative opinion of WrPro. For example, one lost all his funds due to unauthorized leverage increases. Another suffered losses following advice from a professional, which led the client to make losing trades.

At the same time, expert opinions about the broker on thematic portals are also rather low. For example, on WikiFX, the company is rated only 1.4 out of 10, and of the 5 user reviews, 2 are extremely negative. Perhaps this is the reason for the domain name change — the project owners were trying by all means to improve their reputation online.

Let’s Break Down the Jurisdiction

The license issued by FSC Mauritius is considered relatively reliable by many traders and even some experts. However, in terms of regulating brokerage activities, it is noticeably inferior to the standards set by major, reputable regulators:

• Mauritius has long been recognized as a popular offshore financial center with liberal regulation and a favorable tax environment. This makes the country attractive to companies that are not willing or able to comply with the strict rules in the USA, the UK, EU countries, or Australia.
• The financial thresholds for obtaining a license are significantly lower than those of the world’s leading regulators. For example, an investment dealer without underwriting rights is required to have capital of around USD 21,000. For a brokerage business, this is a very modest amount that does not provide a serious financial buffer.
• Although formal supervisory mechanisms exist, the level of client protection in the event of bankruptcy or dishonest actions by the broker is practically zero. FSC Mauritius does not require licensed companies to participate in compensation schemes and does not impose strict limits on maximum leverage, which increases potential risks for traders.
• An FSC Mauritius license does not grant so-called “passporting” rights (i.e., it is not automatically recognized in other countries). This significantly limits the geographic scope of the broker’s legal operations and indirectly indicates a less strict level of oversight compared to Tier 1 regulators.

As a result, having an FSC Mauritius license cannot be considered an absolute guarantee of client safety, but it is not, in itself, a sign of fraud. Generally, such licenses are chosen by companies targeting markets with softer regulatory requirements and less stringent financial control.

What Does the Wrpro.com Website Reveal?

One thing the broker’s official website cannot be faulted for is its design. The developers put effort into the choice of main color combinations and the rational use of graphics. As a result, the pages look restrained but quite solid. The impression is slightly marred by a minor scaling issue on some elements, though we would not call it critical.

But here’s the problem: behind all this very attractive design, there is almost no quality information that traders actually expect. This issue is present across many sections and pages.

• Trading. In this section, we primarily expected to see a list of available markets and a catalog of trading instruments, including contract specifications. However, it turned out that WrPro has its own perspective on this matter, and it clearly does not take traders’ opinions into account. We fully agree that an overview of accounts, an economic calendar, and market analytics are necessary. Yet, for some reason, we felt that part of these pages should have been moved to a separate section, while others, such as Rollover dates, could have been removed entirely as useless. That would probably have made room for a detailed description of the trading platform and proper characterization of assets and trades.
• Company. Naturally, on the About Us page we expected more detailed information about the company: who and when it was founded, its achievements and future plans, the team, payment details, and financial statements. Instead, there is yet another promotional presentation, dull and useless. Other pages are no better: instead of explaining financial security, we would have appreciated details on which bank holds the segregated accounts and which compensation fund the company participates in. Audit reports of the company would also have been helpful. However, the website creators prefer empty words over real (and preferably documented) facts.
• Loyalty Store. A wonderful section, excellent products, attractive prices. The only thing left is to figure out how to become a participant in the loyalty program that allows you to make purchases here. Yet, strangely, there is not a single word about this anywhere on the site. Another lure? Possibly, but it looks appealing.

There are many similar issues that could be listed. Some we will mention as we go, while others you will notice yourself. We want to highlight a few particularly unpleasant surprises in the client portal:

• During registration, the user is practically required to fund their account even before completing the KYC process. For some reason, it seems to us that this is not exactly the approach prescribed by the FSC of Mauritius regulations.
• The account can be funded via bank transfer, debit/credit card, and cryptocurrency. It is curious how WrPro intends to reconcile the latter with AML policies.

In any case, the broker has already convincingly demonstrated that scammer-like methods are not foreign to it. In fact, we have little doubt about this: a Mauritius license fits well with such semi-legal platforms. Those who genuinely want to operate transparently prefer documents from more authoritative regulators.

Is the Broker Offering Fair or Risky Terms for Traders?

So, there is no list of available markets on the WrPro website, no catalog of assets, and no contract specifications. Where, then, can a trader see the trading conditions offered by the broker? The only source is the page describing account types.

However, the platform’s owners again chose not to provide their current and potential clients with detailed information. In fact, the table only shows the maximum leverage and spread discounts. For each of the five accounts, these are as follows:

• Classic: 1:100 leverage, 0% discount.
• Bronze: 1:200 leverage, 20% discount.
• Silver: 1:300 leverage, 40% discount.
• Gold: 1:400 leverage, 60% discount.
• Diamond: 1:500 leverage, 0.6 pips.

The broker does not even indicate the minimum deposit amounts for these accounts. There is also no information on important details such as swap rates, trading commissions, or trade volumes. Even the spread information is mostly useless — the base value for the Classic account is only available in the trading terminal. In fact, to see it, a user must register and, as mentioned earlier, fund their account. Only then can they determine whether trading with this company is profitable. Doesn’t it seem like the firm is deliberately trying to mislead traders?

We did take a look at the terminal and checked the base spread. For the EUR/USD pair (typically considered the benchmark), the spread during the day ranges from 2.9 to 3.1 pips. This is 4–5 times higher than most regulated brokers who operate honestly with their clients. Even with the 60% discount on the Gold account, it comes down to 1.2 pips, reducing the difference to only 1.5–2 times. Clearly, WrPro is desperately in need of money (probably to cover the registration and license purchase costs accumulated over 2.5 years). We could not think of any other reason for such greed.

We also couldn’t ignore a typical scammer approach: the older the account, the lower the spreads and overall costs, the higher the leverage, and, of course, the greater the risks. In plain language for beginners: if you want to trade profitably, deposit more money, but don’t be surprised if you lose it in your first trades. This also explains why the minimum deposit amounts are not shown on the account page: the platform’s specialists obviously do not want to scare potential clients too early.

However, we did manage to find this information on the Copy Trading page. And WrPro’s appetite is far from modest. The minimum deposits for each account are:

• Classic — $5,000.
• Bronze — $10,000.
• Silver — $25,000.
• Gold — $50,000.
• Diamond — $100,000.

In other words, if they are going to take clients’ money, they go straight for a substantial amount.

The Copy Trading page itself is extremely sparse. Essentially, it only lists a few vague benefits of this type of trading and provides some metrics for each account type. For example, the broker claims that the average return for the entry-level Classic account is 2.2% per week or 7.93% per month, while for the Diamond account it is 15.64% per week or 50.23% per month.

Where does such a difference come from? We assumed that a user of the Copy Trading system could freely choose the strategy of a successful trader and replicate their trades on their own account. However, it seems that WrPro has its own interpretation of this system. It appears that wealthier clients are offered more profitable options, while those starting with smaller sums are not given the same opportunity. Moreover, we did not see any information about the strategies even in the Copy Trading section of the client portal. Perhaps WrPro’s understanding of the principle itself differs from the generally accepted concept.

Technical Support Analysis of WrPro

On the contact information page, all possible ways for traders to get in touch with the broker are provided. Here you can find:

• A contact form.
• The support email address in Arabic and English.
• Phone numbers in the UK, Kuwait, and the UAE.

The last ones are quite interesting. The UK number is most likely part of a VoIP pool (a virtual number for internet telephony), the number in Kuwait is a mobile line, and the UAE (Dubai) number is also recognized as either a mobile or a VoIP virtual number. Thus, we see that the company does not display a single landline, which indicates that there are no actual support offices in these countries.

It is also worth noting that the Mauritius address is used by dozens of companies registered in this jurisdiction, resulting in a virtual company registered through an intermediary or an unknown group of individuals who purchased the company’s documents and its license from the founders. Both cases, while allowing one to claim that this is a scam project, do not inspire confidence.

Additionally, WrPro has not provided a single link to social media profiles. For a genuinely licensed company, this is, at minimum, unusual. Typically, this behavior is seen among scammers who do not expect their projects to last long, or who lack staff capable of professionally managing social media groups and channels.