- June 29, 2019
- Posted by: Michael
- Category: CFD brokers
GWG is a CFD Broker that features on its trading platform CFDs on forex, indices, commodities (oil, gold, silver). GWG is a subsidiary company of GWG (Cyprus) Limited, a corporation that is licensed in Cyprus by the CySEC. In accordance with the GWG homepage, the spread fee on EUR/USD is 6.59 pips*, real trading is possible with the minimum deposit of $100.
What do we cover in our GWG Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- Website address: www.GWG.com
- Leverage: up to 1:30
- Instruments: CFDs – forex, indices, commodities (oil, gold, silver)
- Minimum deposit: $100
- Demo account: N/A
- Methods of deposit and withdrawal: N/A
GWG Trading Platform
For FX and CFD trading, GWG offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. .
As any other CFD broker, GWG charges a spread fee. For the most current spread charges, please visit the GWG.com website. Here is a spread comparison table that contrasts GWG spreads with popular industry competitors.
*Spreads recorded on 29.06.2019 at 10:49 GMT, spread charges were taken from the homepage of the broker. **Spreads recorded on 31.05.2019 at 8:23 GMT from the trading platform of the broker.
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce GWG.
- Enormous spreads
- Low number of CFDs (no CFDs on stocks nor cryptocurrencies)
To sum up the GWG Review
GWG adheres to strict regulatory guidelines of the CySEC. The broker features a very basic offer of CFD instruments, there are no CFDs on stocks nor cryptocurrencies. Spreads that the broker charges are enormous and are hardly competitive with FX/CFD industry leaders. The main advantage of the company is that it supports, like so many other brokers, the trading platform MT4. Unfortunately, the GWG broker does not inform its clients what deposit and withdrawal methods the company supports nor whether they offer a free demo account.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with GWG.
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