CFD broker run by WM Markets Ltd, a company registered in Comoros. It says it is licensed by the Mwali International Services Authority (MISA); we could not confirm the licence on MISA's register, so we list no confirmed regulator.
Facts last checked 20 October 2026. Always confirm on the regulator’s register. How we review brokers
Get an email when WM Markets's licence or key facts change.
Key facts
Founded
Not yet checked
Headquarters
Fomboni, Mwali (Comoros)
Minimum deposit
$50
Max. retail leverage
Up to 1:2000 (dynamic, set per instrument)
Cheapest cost per lot
Not yet checked
Regulators
Not yet checked
Platforms
MetaTrader 4, MetaTrader 5, WM Markets mobile app, MT4 WebTrader
Your protection depends on which company holds your account, and that depends on where you live. Each row is one licensed company. What regulation means
Regulation not yet checked. Do not deposit until you have found the licence on a regulator’s register.
No register to check: we could not find this firm on a regulator’s public register. A licence you cannot look up gives you no protection you can rely on. How to check a licence
Websites
Official websites
✓wmmarkets.com
✓en.wmmarkets.com
Type the address yourself or use a bookmark. Check it matches the website listed for the firm on the regulator’s register.
Watch out for look-alike sites
We have not recorded any look-alike sites for WM Markets. That does not mean none exist.
A clone firm copies a real broker’s name, licence number and branding to take deposits. The register shows the genuine firm, so the surest check is the contact details: if the website, email or phone number you were given is not the one on the register, treat it as a clone. Check a broker step by step
Accounts and costs
Account types and costs not yet checked.
Cost per lot = typical EUR/USD spread × $10 + round-turn commission, for one standard lot (100,000 units) in busy hours. Swap and other fees are extra. Trading costs explained
Leverage and margin
Leverage lets you open a position bigger than your deposit, so losses grow as fast as gains. The caps below are the most WM Markets allows; you can always use less. For comparison, strict regulators cap retail leverage at 1:30 on major pairs.
Leverage by asset class not yet checked. Headline retail leverage: Up to 1:2000 (dynamic, set per instrument).
100%When your equity falls to 100% of the margin your open trades use, you get a warning and usually cannot open new trades.
Stop-out
20%When your equity falls to 20% of your used margin, the platform starts closing your trades, usually the biggest loser first, until the level recovers.
Negative balance protection is written into the client agreement
The agreement says client money is kept apart from the company's own funds
Says it holds a client funds insurance policy of up to $1,000,000
Watch out for
Says WM Markets Ltd holds MISA licence BFX2024009; we could not confirm it on MISA's register on 2026-10-20 (the register blocked automated access).
The agreement gives the company a lien over client assets and lets it pledge or reinvest assets held for clients
Leverage up to 1:2000, and payment methods and withdrawal fees are not listed on the public website
Inactive accounts are disabled after six months and may be charged maintenance fees that are not published
Overview
WM Markets offers CFDs on forex, metals, indices, energies, commodities, treasuries, shares, ETFs and cryptocurrencies through MetaTrader 4, MetaTrader 5 and its own apps. The company behind it is WM Markets Ltd, registered in Comoros with registration number HA00124733. It has two main accounts, Prime and Zero, and a separate VIP Zero offer.
Regulation and safety
The website says WM Markets Ltd is licensed and regulated by the Mwali International Services Authority (MISA). The client agreement gives the licence number as BFX2024009. We tried to check it on MISA’s register on 2026-10-20, but the site blocked automated access, so we could not confirm it. Even if confirmed, a MISA licence is at the lowest level of protection, with no compensation scheme.
The agreement says client money is kept separate from the company’s own money and that negative balance protection applies. The same agreement gives the company a lien over everything in your accounts and lets it pledge or reinvest assets it holds for you. WM Markets also says it holds client funds insurance of up to $1,000,000, underwritten at Lloyd’s. Insurance of this kind has its own conditions and does not replace regulation. Our guide to forex broker regulation explains the difference, and our broker check shows what to look for.
Costs
The Prime account has no commission on forex and spreads from 1.0 pips. The Zero account starts at 0.0 pips and charges $8 per round lot on forex, metals and crypto CFDs. WM Markets does not publish typical spreads; it says spreads can be seen in the trading platform. Run your own comparison with our trading costs guide.
Platforms and tools
MetaTrader 4 and MetaTrader 5 are available on desktop and on the web, plus a WM Markets mobile app and copy trading. Leverage is dynamic, set in tiers per instrument, and margin requirements rise for positions opened just before weekends, around news and overnight. See MT4 vs MT5.
Deposits and withdrawals
Payment methods and fees are shown only inside the client portal. The agreement allows fees on deposits, withdrawals and returned payments, and an administration fee when an account is closed.
Who it may suit
The set-up suits traders who want MetaTrader with very high leverage and accept that no licence could be confirmed. If you want a regulator you can check and a compensation scheme, this structure does not provide them.
How to open an account
The steps as we checked them. Never deposit until you have confirmed the licence.
Check which company you will join
Accounts are opened with WM Markets Ltd, registration HA00124733, registered at Bonovo Road, Fomboni, Island of Mohéli, Comoros. The client agreement is governed by the laws of Comoros.
Register
Sign up on the WM Markets client portal with your personal details and country of residence. The website is not offered to US residents.
Verify your identity
Upload an identity document and proof of address in the portal.
Choose an account
The Prime account needs $50 and has spreads from 1.0 pips with no commission on forex. The Zero account needs $1,000 and has spreads from 0.0 pips plus $8 per round lot on forex and metals.
Fund the account
Payment methods are shown in the client portal, not on the public website. Use an account in your own name.
Practise first
Try the demo account on MT4 or MT5 before trading with real money.
What changed on this profile
Profile published. MISA licence could not be confirmed on the regulator's register; listed under watch-outs.
WM Markets: common questions
Is WM Markets regulated?
WM Markets says WM Markets Ltd is licensed by the Mwali International Services Authority in Comoros under licence BFX2024009. We could not confirm this on MISA's register on 2026-10-20, so we list no confirmed regulator. Even a confirmed MISA licence is an offshore authorisation with no compensation scheme.
Which company will I join?
WM Markets Ltd, registered in Comoros with registration number HA00124733.
What is the minimum deposit?
$50 for the Prime account and $1,000 for the Zero account.
Can I lose more than I deposit?
The client agreement says negative balance protection keeps losses within the money deposited in the account. With leverage up to 1:2000, that deposit can be lost very quickly.
This profile is factual information, not a recommendation or financial advice. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Read the full disclaimer.
