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Wise Trader Review Limassol Wise Trader 13:00 GMT 03/19/2018 Overview Reviewing the WiseTrader platforms - WiseTrader is a Cyprus based online CFD Forex, Stocks, Indices, Commodities and Cryptocurrencies broker founded with the aim of giving traders all the tools needed to learn (for beginners) and perfect (for more experienced traders) their skills. This belief in the universal right of all traders to benefit from comprehensive training has been set as the company’s corporate slogan in the form of the name - WiseTrader’ and in its mascot, the ‘wise owl’. Regulation WiseTrader is a broker regulated by Cyprus Securities and Exchange Commission (CySEC) and is authorized to provide cross-border services in the European Union, but also in non-EU countries. This platform is required to comply with EU and local regulations such as the European Markets in Financial Instruments Directive II (MiFID II) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2017 L. 87(Ι)/2017.’ These regulations include provisions that protect Clients funds and financial instruments by keeping them segregated from Company’s funds in EU regulated Banks. In an industry full of scam brokers, this is a necessary precaution for every trader. Account Types Traders can choose from 6 account types. Beginners can choose the ‘Basic Account’ with a minimum deposit of 250. More experienced traders can go for the ‘Bronze’, ‘Silver’, ‘Gold’, ‘Platinum’ or ‘Rhodium’ accounts, with higher minimum deposits. Deposits can be made in USD, EUR or GBP and professional account holders are entitled to 1-on-1 coaching sessions and other perks, depending on the account type. Trading Platforms The trading platforms are very user-friendly. Traders can easily choose from over 50 currency pairs and CFDs in 10 global indices and commodities. They can also trade options in CFDs and forex in over 3000 markets and the principle cryptocurrencies; Bitcoin Ethereum, Litecoin and Ripple. Trading Academy WiseTrader has built an extensive Trading Academy, aimed at helping traders, both beginners and more experienced, to develop and perfect their trading skills: • Chart analysis* • eBooks • Economic calendar • In depth tutorials • Live webinars • Live market news* • Market summaries* • Video library. *The signals and data are provided by MTE Media. Costs of Trading The costs of trading can be divided into several categories – spreads, commissions and overnight financing charges or payments often known as “swap rates”. As far as day traders are concerned, spreads and commissions are very important. You can see all applicable spreads on the site’s Trading Conditions page. There are no commissions so what you see in the quoted spreads is what you get. Long-term traders leaving order overnight are charged with a swap fee. Deposits/Withdrawals WiseTrader accepts funds transferred by credit or debit cards and wire transfer. All electronic wallets are also acceptable. As mentioned above, the minimum deposit is 250. The minimum withdrawal sum is 50. You may withdraw the full amount of your balance once all positions are closed. The Company charges a withdrawal fee. Customer Support Customer support is available 24/6 via email, telephone and live chat. To access the live chat or callback functions click on the relevant tabs. Please allow a few seconds for the forms to fully load. Customer Support: +357 25 123326 Email: support@wisetrader.com Main office address: 43 Kolonakiou Avenue, CY-4103 Agios Athanasios, Limassol, Cyprus Conclusion WiseTrader’s philosophy is that education is your most productive investment. As such it has gone to great lengths to ensure that traders acquire all the necessary tools before they begin trading. Make good use of what the platform’s Trading Academy has to offer. |
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