Pennywise Wealth Management review – scam to avoid in 2020
What is Pennywise Wealth Management
Pennywise Wealth Management is a financial service that promises to make you money thanks to investment in stocks, currencies and commodities. The company will manage your investments and supposedly earn you money.
Pennywise Wealth Management offers three investment plans called Premium, Gold and Platinum. Daily returns are 2%, 2.5% and 3% respectively. The minimum deposit is 100 USD and 30,000 and 60,000 for the higher plans.
How much money can you really make with Pennywise Wealth Management? Nothing!
Pennywise Wealth Management scam
Pennywise Wealth Management is a scam and we are going to prove it in this review. It is an illegal investment scheme that is doomed to collapse. It is only a matter of time.
We researched Pennywise Wealth Management and found out that it is an illegal clone of a real company called Pennywise Investments. This real company has even placed a warning on its website that says that it has nothing in common with Pennywise Wealth Management (see our picture below).
The reason why Pennywise Wealth Management is trying to look like a clone of a legit company is to confuse people and make them believe that Pennywise Wealth Management is legit too. But it is not. It is an illegal clone and a scam.
One of the main reasons why Pennywise Wealth Management has a similar name to a legit company is that it uses its credentials, it claims to be regulated. But it is not.
According to its Terms and Conditions, Pennywise Wealth Management is located in Great Britain. This means that it has to be regulated by the Financial Conduct Authority. But it is not.
Pennywise Wealth Management has no license whatsoever, it is an illegal investment service, clients’ deposits are not protected in any way.
One of the dirty tricks that Pennywise Wealth Management did when cloning the above-mentioned legit company is that they stole their testimonials.
As you can see in our picture, they have stolen the pictures and stories from the other company. In other words, Pennywise Wealth Management’s testimonials and reviews presented on its website are fake, it is a scam.
Anonymous and shady
When looking at any investment offer, you always should carefully check who is providing it. It always should be a company licensed to offer investment services with a license valid in your country.
We have already established that Pennywise Wealth Management is not regulated at all. What is even more alarming, is that it is completely anonymous. It does not provide any address nor phone number.
Investing with Pennywise Wealth Management means that you would be sending your money to an anonymous and unregulated entity. So, in case of any problem there would be nobody to help you. You would not even be able to...