In this WForex Review, we are going to take a look at the offer that this broker prepared for its traders. WForex operates on the financial market since 2017. When it comes to trading platforms, the broker features WebTrader and MetaTrader 4. The WForex minimum deposit is 1 USD.
Between 74-89% of retail investor accounts lose money when trading CFDs You should consider whether you can afford to take the high risk of losing your money
Basic information from this WForex Review
Website address: | wforex.com (.ru) |
Operated by: | Existrade LTD |
Licensed and authorised by regulatory bodies: | SVGFSA |
Supported languages: | English and Spanish |
Customer support available via: | E-mail, phone, live-chat |
Contact details: | [email protected], +7 495 266 60 77 |
Available deposit methods: | Debit and Credit Cards, Bitcoin, Dash, bank transfers, OKPAY, Qiwi, WebMoney, Yandex, Zpayment |
Available withdrawal methods: | Debit and Credit Cards, Bitcoin, Dash, bank transfers, OKPAY, Qiwi, WebMoney, Yandex, Zpayment |
Minimum deposit: | 1 USD |
Min. trade in lots: | 0.01 |
Spreads: | Minimal spread on the currency pair EUR/USD - 0,2 pips * on standard account type |
Tradable assets: Might be a CFD. | Forex (50), cryptocurrencies (15) |
Mobile app: | |
MetaTrader 4: | |
Other trading platforms: | WebTrader |
Maximum leverage: The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with. For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions. | 1:500 |
Social trading: |
WForex Fees (minimal spreads)
We have scanned fees (minimal spreads) that WForex charges when trading popular currency pairs, here is their breakdown in pips.
EUR/GBP | EUR/USD | USD/CHF | EUR/JPY | GBP/USD | USD/JPY |
---|---|---|---|---|---|
* | 0,2* | * | * | * | * |
*Minimal spreads were recorded on 17.09.2020 at 09:52 for the standard account. WForex spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.
Random reviews of competing FX & CFD brokers: Obsbit, UAGTrade, HYCM (Henyep Capital Markets) and NBHMarkets
Frequently Asked Questions
🧐 Is WForex a Scam?
In accordance with our research, WForex is a broker licensed and regulated by the SVGFSA. While it is a good thing that the broker is regulated, the SVGFSA regulatory agency is in comparison to 1st tier regulatory bodies like the CySEC one of the weaker regulatory authorities when it comes to investor protection. In order to be sure that WForex is not a scam, read our trader reviews and check other popular trading related websites and forums.
🆓 What is the WForex minimum deposit?
In order to start trading with WForex, you have to deposit at least 1 USD (Trading accounts can also be held in USD).
📵 What deposit and withdrawal methods WForex supports?
⚖️ Would you recommend me choosing WForex?
We don’t have our own personal experience with WForex. However, the broker is regulated by the SVGFSA which does not provide as strong protection to traders as 1st tier regulatory bodies (Like the British Financial Conduct Authority). Considering that there are hundreds of brokers with stronger regulation and quite highly possibly with better trading conditions too, it makes little to no sense to trade with WForex.
Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker Etoro – (77% of of retail investor accounts lose money when trading CFDs with this provider), which is a CySEC regulated company that allows trading from as little as $50 and charges highly competitive fees on all assets.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs
You should consider whether you can afford to take the high risk of losing your money ¹ Variable spreads, spreads recorded for the EUR/USD on 11.01.2024 at 11:42 GMT.