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TradeFW Broker Review – Knowing The ways of Trades: Trade FW started functioning in the year 2018. So, the trading website is still in its infantry stage. iTrade Global Limited is the parent company of the organization. CySEC (Cyprus) regulates it and monitors all the activities related to the brokerage company.
Earlier it was known as BO360. The broker website primarily deals with foreign currency exchange and complex financial derivatives.
Considering the fact that the company is a novice in the financial market, one needs to pay attention to reviews. Proper know-how and background check are essential. Let’s find out.
Types of Accounts on TradeFW Broker
The website offers Standard, Gold, VIP and Professional accounts for the selection of users. They all provide distinct services catering to various demands from different traders.
- The lowest spreads it gives away is 2.7 pips.
- It does not charge any commission on indices, commodities, energies, metals etc.
- Commission on complex financial derivatives in different nations.
In the US it is a minimum of 0.1 per cent or 10 USD.
> For the UK International: Same as the US.
> In the UK it is 0.1% or 10 GBP.
> In Switzerland, it is 0.1% or 10CHF.
> For Swede, 0.1% or 70SEK.
> For Germany, Italy, France and Spain it is 0.1 % or a minimum of 10 Euro.
Deposit: At least $ 500 to begin.
Contract size: 0.01 minimum.
Leverage: Maximum 1:30
It supports negative balance protection and EA. Besides, it allows hedging.
- The lowest spread is two pips.
- It doesn’t charge any commission for commodities, metals, indices etc.
- Charges on stocks of complex financial derivatives are similar to the Standard account.
Deposit: One has to spend at least $ 3000 in the beginning.
Leverage: It goes up to 1:30.
Contract Size: It is 0.05.
It has negative balance protection and supports EA and allows hedging.
- It offers spreads as low as 1.7 pips.
- No commissions on any financial instrument.
- The account follows the chart of previous accounts for charges on complex financial derivatives.
Deposit: The trader would need to make a call for fetching the details.
Leverage: It is disappointing with up to 1:30 maximum.
Contract Size: It is 0.1.
Similar to other accounts, it comes packed with hedging, negative balance protection and EA.
- It comes with 1.7 pips as spreads.
- The account does not charge anything for instruments.
- Same rules apply for complex financial derivatives as for others.
Deposit: It is at the higher side with $ 5000 minimum required in the wallet.
Leverage: It is satisfying with 1:500.
Contract Size: It is a minimum of 0.1.
It gives all facilities that other accounts provide.
Trading Platforms on TradeFW Broker
It is using conventional RoboX, MirrorTrading, MetaTrade4 and WebTrader. They both are decent to good for investors and provide useful assistance. But for a newbie, a client would expect an upgraded version of both in MetaTrader5.
The brokerage company offers MetaTrade4 for desktop, MetaTrader 4 for Android and MetaTrader 4 for iOS.
Customer Care on TradeFW Broker
It is open for 24 hours. Traders facing a problem can contact the executives within weekdays (5 days precisely) as per the website touts. However, the company does not have a presence on social media. It casts doubts on its modus-operandi.
Users can use phone numbers (United Kingdom, Italy and Spain) for contacting the company in respective nations. And the support of an official e-mail id is always there.
Deposit and Withdrawal in TradeFW
The website states that it doesn’t commingle the clients’ fund with the corporate ones. They both have segregated accounts to avoid confusion and a mess. It accepts payments through PayPal, Visa card, Mastercard, wire transfers and other getaways.
But everything is not hunky-dory as it seems. During withdrawal, one has to wait for twenty-four hours or even more. And it is when the brokerage firm does not boast millions of users. In that case, it should offer the funds within a few hours.
On the other hand, withdrawal from credit and debit cards may take up to 5-7 days in processing. A platform with a modest outreach should expedite it.
Amount TradeFw accepts as the deposit is dollar 250 minimum. It is too much for anyone who wants to take up financial trading. Traders can make a payment in GBP, USD, Euro, SGD, AUD and other currencies.
Trading Education on TradeFW
For providing traders with regular information, the website has sections like glossary and blog. But it all looks haphazard and half-hearted. There is no proper knowledge.
Even glossary doesn’t extend beyond the letter ‘W’. That goes to say the brokerage company has a long way to go.
Investors have 170 plus assets to commence their trading and make money. The numbers may improve with time.
The important features the website claims are:
- Expert Advisors
- One-click trading
- Trading analysis
TradeFW Broker Review Conclusion
TradeFW is quite new in the domain and needs structural change in days to come. For traders to benefit from their services, they need to bring in status-quo of reforms. The deposits are too high, which shifts the agenda from people’s mind to trade on the website. Need to know more about TradeFW Broker Review.
Also, the imagery and symbolism of a good looking website cannot help them from rolling down. They will need to focus on delivering on investors benefits.
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