TradedWell is one of the leading online brokers. This brokerage firm is owned and operated by iTrade Global (CY) Ltd. It is an authorised and well-regulated company that is complying with all rules and regulations.
It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers more than 170 financial trading instruments along with forex trading. This means traders have a wide variety of assets to choose from.
Traders can trade on a leading trading platform; MetaTrader 4, WebTrader, and a Mobile App. The trading platform is protected by Secure Sockets Layer (SSL) and firewalls to ensure protection against the data of traders.
Choose from different types of trading accounts that are silver, gold, and platinum. Trade with reliable trading tools and educational material to earn higher profits.
How To Open An Account With TradedWell?
Before jumping into the procedure of account opening traders must know the types of accounts accessible. There are five types of trading accounts that are:
- Demo Account
- Silver Account
- Gold Account
- Platinum Account
- Islamic Account
Traders need to select the most suitable account from these and deposit some funds for trading. Also note that if you are a professional, you can request a professional account with higher benefits. Traders who like to trade in large volumes usually opt for this option.
The minimum deposit required to make your trading account is $250. The procedure to make a forex trading account is as follows:
- Step 1 – Click on the “Open Account” button on the website www.tradedwell.com. Fill in all the required information such as name, email address, phone number and more. Traders should fill in the correct details and move to the next step.
- Step 2 – Traders need to upload the necessary documents for identity, address, and income proof. Documents such as bank statements, passport, driving license, and similar can be uploaded for verification.
- Step 3 – After successful verification, traders need to add a payment method. They can add methods such as a bank account, debit or credit card, and other available options. This is to add and withdraw funds smoothly.
This was the whole process to open a trading account. After this traders can enjoy trading in the global financial markets and they can make huge profits. TradedWell provides a wide range of educational material, analytical and market research tools, utilise them wisely.
How To Get A Demo Account With TradedWell?
The best part about this broker is that traders also get a demo account to learn. While opening a trading account, traders also get the option for a demo account. They can opt for the options from there only and get a free demo account for learning purposes.
A demo account is for newbie traders or traders who want to experience the broker. Learn forex trading with a demo account. The features of a demo account are:
- It is funded with virtual money that is meant for practice purposes only.
- Traders face situations that are designed like real ones for practice.
- New traders gain market exposure with the help of a demo account.
- Almost all trading features are accessible with a demo trading account also.
- Reduce the risk of losing your money by doing sufficient practice.
Learn how to trade in the global financial markets with a demo trading account. Traders can trade with this account for a reasonable short period of time. By doing this traders can reduce the risk of losing their money in the market.
After this, switch to a real account and trade with your funds. Select one account from the various live accounts provided by the broker. Finally, you can trade in the leading financial markets and can make good money by online trading.
How To Use a Chart With TradedWell?
Metatrader 4 is the trading platform offered by the broker. Along with this other platforms offered by the broker are:
- MetaTrader 4
- Mobile App
MetaTrader 4 is one of the leading trading platforms around the world for forex trading. A mobile app and WebTrader platform are also powered by the MT4 platform. Traders get multiple tools and trading indicators with this platform that are:
- Average Directional Moving Index
- Bollinger Bands
- Moving Average
- Parabolic SAR
- Standard Deviation
- And various others are available
Traders need to set their preference for once in the beginning. Then they can use the tools and indicators freely to make money from the financial markets. The best part about this trading platform is that it is customisable according to the trader.
Several things can be customised by the traders in the charts of this trading platform. The things traders see at the main window of the platform include:
- Toolbars – The icons a trader sees at the top of the trading window is known as toolbar. It has multiple shortcuts that allow you to do various things.
- Market Watch – There is a market watch window at the upper left corner of the window. It allows traders to see the live prices of the markets or trading assets.
- Charts – The largest part of the window covers the chart of the asset you are trading. Chart means the price chart along with future indicators and past movements.
- Navigators – Navigators are placed just below the market watch. From here traders can see their multiple accounts and the indicators used in the price chart.
Traders who want to customise the chart need to follow these steps as directed below:
- Step 1 – Open a price chart of any of the trading assets for customisation. From the toolbar placed at the top of the screen, you need to add a new chart.
- Step 2 – After right-clicking on the price chart screen you will get all the properties of the chart. You can change colours for a clear and effective look.
- Step 3 – After changing colours, you can change the type of price chart. It includes line or candlestick charts, choose according to your preference.
- Step 4 – Once you have made all the required changes to the chart. You can save the template with the save template option available at the toolbar.
- Step 5 – Traders can set technical indicators as per their trading strategy used for trading. The technical indicators are used to study the price charts.
- Step 6 – Choose the best indicators and set them according to the results you want from your trades. Save them so that you can access the same next time also.
How To Use Leverage In Funds For A Broker?
The maximum leverage that is accessible with the broker is 1:500. Traders can use the leverage to increase the amounts of profits earned by them. For example, the leverage is 1:500 which means if you are depositing $1 then you can trade with $500.
There is a different amount of leverage on different products:
- Forex trading – 1:500
- Metals – 1:125
- Indices – 1:125
- Commodities – 1:125
- Stocks – 1:50
Leverage is used to increase the profits from your trades in forex trading. Traders can trade higher value of funds even after making a lower investment in the market. This is the best part of trading with leverage because it is hard for every trader to arrange funds.
The maximum leverage for retail traders is 1:30. The amount of leverage is low for retail traders because they have a high risk of losing their money in the market. As compared to retail traders, professional traders can make higher profits with the use of leverage.
It is a trading strategy in which borrowed funds are used to book profits from the market. High profits can be booked by traders with the use of leverage. It is also recommended to use leverage in your limits because traders can also lose funds with its use.
Trading is all about taking risks, the worst scenario is to lose your funds with the use of leverage. On the other hand, the best scenario is earning a good amount of money with its use. Use it after a detailed study of the market.
How To Deposit Funds In The Broker Account?
To trade in the leading financial markets including the forex market, traders need to deposit funds in the account. It is necessary for the smooth processing of transactions. There are several ways to deposit funds in the account that are:
- Debit & Credit Cards
- Bank Wire Transfer
Traders can deposit funds in their account without paying any type of transaction. All the payment methods allow fee-free transfers. This is also a benefit for traders that they don’t have to pay anything for loading their account with funds.
All the payment methods respond instantly leaving the bank wire transfer. The speed of transferring funds in bank wire transfer depends on the bank account of the client. However, it also does not consume much time of a trader.
You just need to log into the website or use the mobile app to make the transfer to your trading account.
How To Contact Customer Support?
Traders can contact the customer support team in case of any query faced by traders. The support is available 24/5 to every trader. Traders need to visit the “Contact Us” column to get support. The details to contact the broker are:
- Email – [email protected]
- Phone – +44 8000318499
- Live Chat – Access live chat from the website and mobile app
- Address – Isiodou, Andrea Laskaratou & Emanouel Roides Street 10-12, 2. Floor, Ayia Zoni, 3031 Limassol, Cyprus
TradedWell is offering multilingual customer support. This means traders can use their favourite language among all the languages provided. Professional traders of the broker get a personal account manager for faster response.
Traders can resolve their issues in the minimum possible time and they can carry on their trades in the market. This can improve your trading efficiency and overall profits. Weekend support is not offered by the broker.
What Is The Procedure To Withdraw Funds From A Trading Account?
After earning a good amount of money from forex trading or trading in any other financial markets, traders need to withdraw the amount. There are various ways to withdraw the funds from your trading account that are:
- Debit & Credit Cards
- Bank Wire Transfer
We have discussed that the deposits are fee-free with this broker. However, the withdrawals are also fee-free but the condition is a withdrawal should be above 100 Euros. Below this amount traders need to pay a transaction fee to the broker for withdrawing.
The withdrawal requests are initiated as soon as possible. Traders get their funds immediately in their account or payment method available after the request. In order to withdraw their funds, traders need to submit a request on the portal.
Under the payments sections, they can submit a request for withdrawal of funds. After submitting the request, choose a method for the same and get your funds in your account. This is a short and quick process to get your funds.
The Bottom Line
TradedWell is one of the best brokers for forex trading and trading in several other assets. Traders need to learn forex trading with TradedWell so that they can earn higher profits. Use a demo account in the beginning and then switch to a live account. Make more money by trading forex and use leverage to your limits.