Overview of TigerWit
TigerWit is a UK-based online brokerage firm that provides trading services for forex, indices, commodities, and cryptocurrencies. It was established in 2015 and operates under the authorization and regulation of the Financial Conduct Authority (FCA) in the UK. TigerWit's main focus is to provide clients with access to reliable and secure trading platforms, competitive pricing, and a range of trading tools and resources to help them make informed trading decisions. The company prides itself on its technological innovation, including the integration of artificial intelligence and blockchain technology into its trading platforms.
Is tigerwit legit or a scam？
TigerWit is a legitimate online trading platform that is regulated by several financial authorities, including the FCA and ASIC. However, like many brokers, it has received some negative feedback and complaints from customers regarding issues such as withdrawals and customer support. It is important to thoroughly research and understand any potential risks before trading with any broker, including TigerWit.
Pros & Cons
TigerWit is a global financial technology company that offers online trading services for various financial instruments, including forex, stocks, commodities, and indices. The company is known for its innovative trading platform that combines social trading, advanced analytics, and cutting-edge technology to provide a seamless and efficient trading experience. TigerWit also offers a range of educational resources and tools to help traders improve their skills and stay up-to-date with the latest market trends. However, as with any online trading platform, there are both pros and cons to using TigerWit, which are important to consider before making a decision to trade with them.
Here is a chart showing the pros and cons of TigerWit:
Market Instruments
TigerWit provides access to a wide range of financial instruments across different asset classes. The market instruments available for trading with TigerWit include:
Forex: TigerWit offers trading on over 70 currency pairs, including majors, minors, and exotics.
Stocks: TigerWit offers trading on a selection of global stocks from popular exchanges such as the NYSE, NASDAQ, LSE, and HKSE.
Indices: TigerWit offers trading on a range of global indices, including the UK 100, US 500, Germany 30, and Hong Kong 50.
Commodities: TigerWit offers trading on a range of commodities such as Gold, Silver, Oil, and other energy commodities.
Cryptocurrencies: TigerWit offers trading on a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.
Account Types
TigerWit offers two main account types for traders: a demo account and a live account. The demo account is designed for traders to practice and familiarize themselves with the trading platform and the markets without risking any real money. The demo account provides virtual funds for trading and access to real-time market data. It is a valuable tool for new traders who want to learn the ropes before investing real money.
The live account, on the other hand, allows traders to invest real money in the markets. TigerWit offers a simple and transparent pricing model with no commissions on trades, and competitive spreads starting from as low as 0.3 pips. The live account provides traders with access to a wide range of markets, including forex, commodities, indices, and cryptocurrencies.
Besides, TigerWit offers Muslim traders who follow Sharia law the option of converting a registered account into an Islamic Account.
How to open an account with Tigerwit？
To open an account with TigerWit, you can follow these steps:
Go to the TigerWit website and click on the “Open Account” button.
Fill out the registration form with your personal information, including your name, email, and phone number.
Select the account type you want to open (Demo or Live) and complete the account setup process.
Once your account is set up, you can fund it by depositing money using one of the available payment methods.
After you have funded your account, you can start trading on the TigerWit platform.
Leverage
TigerWit UK provides its clients with a maximum trading leverage of up to 30:1, which may vary depending on the product being traded. However, it is essential to note that higher leverage is exclusively available for those who are recognized as 'Professional' clients. In case you wish to explore the benefits of higher leverage, you may get in touch with TigerWit's customer service team by writing an email to customerservice@tigerwit.com to learn more about the eligibility criteria for upgrading your account to Professional status.
Spreads & Commissions (Trading Fees)
TigerWit offers variable spreads that depend on the asset being traded and the account type. The spreads for the EUR/USD currency pair on a standard account can range from 1.1 pips to 1.6 pips, while on the Pro account, the spread can be as low as 0.6 pips. The commission fee for the Pro account is £2.5 per side, while the standard account does not charge a commission fee.
For other instruments such as indices and commodities, the spreads can range from 0.3 pips to 20 pips depending on the asset and account type.
Here is the comparison of spreads for EUR/USD, GER30, and Gold on TigerWit, OANDA, and eToro:
Non-Trading Fees
TigerWit doesn't charge any non-trading fees, such as account inactivity fees or deposit/withdrawal fees. However, it's always good practice to check with your payment provider or bank to see if they charge any fees on their end.
Trading Platforms
TigerWit offers the MetaTrader 4 (MT4) trading platform to its clients. MT4 is one of the most popular trading platforms in the world, with a user-friendly interface, a wide range of technical analysis tools, and the ability to support automated trading through the use of Expert Advisors (EAs).
The MT4 platform offered by TigerWit is available for download on desktop and mobile devices, making it easy for clients to access the platform wherever they are. The platform provides real-time quotes, advanced charting features, and a range of technical indicators to help traders analyze the markets and make informed trading decisions.
In addition to the MT4 platform, TigerWit also offers its own proprietary trading platform, called TigerWit Trading. This platform is designed to be user-friendly and intuitive, providing traders with the ability to trade a range of assets including forex, commodities, and indices. The TigerWit Trading platform is available for both desktop and mobile devices, allowing clients to trade on-the-go.
Here is a comparison chart for trading platforms offered by TigerWit and other platforms:
Tigewit Deposit & Withdrawal
TigerWit offers a variety of deposit and withdrawal options, including the following:
Deposit:
Bank transfer
Credit/debit cards
Neteller
Skrill
SafeCharge
China UnionPay
The minimum deposit amount varies depending on the payment method. For example, the minimum deposit amount for bank transfer is $100, while the minimum deposit amount for credit/debit cards, Neteller, Skrill, SafeCharge, and China UnionPay is $50.
Withdrawal:
Bank transfer
Credit/debit cards
Neteller
Skrill
The minimum withdrawal amount is $20 for all payment methods except for bank transfer, which has a minimum withdrawal amount of $50.
Tigewit Customer Support
Tigerwit's customer support team is readily available 24/5 to assist clients with any inquiries or concerns they may have. Clients can reach the support team via email, phone, or live chat.
Furthermore, TigerWit has a comprehensive FAQ section on its website that covers a wide range of topics such as account opening, trading, and payments, among others. Clients can browse through the section to find answers to common questions without having to contact customer support.
In addition, TigerWit provides multilingual support in various languages, including English, Chinese, and Arabic, among others. This enables clients from different parts of the world to communicate with the support team in their preferred language, which enhances their experience with the platform.
Tigewit Educational Resources
It appears that TigerWit offers limited educational resources. While they do not have a dedicated education section on their website, they provide some basic educational materials and trading guides for their clients.
They also have a blog section on their website, which includes articles on various topics related to trading, markets, and strategies. Additionally, TigerWit hosts webinars from time to time, which are available to their clients.
Conclusion
To wrap up, TigerWit is a UK-based online broker that provides trading services for various financial instruments, including forex, indices, and commodities. The company offers a user-friendly trading platform and competitive trading conditions, including tight spreads and low commissions. However, it is worth noting that TigerWit has received a significant number of negative reviews and complaints from its clients regarding its customer support and trading platform. Additionally, the lack of educational resources and limited account types may be a downside for some traders. As with any investment, it is important to carefully consider the risks and benefits before choosing a broker, and to conduct thorough research to ensure that the chosen broker meets one's individual trading needs and preferences.
FAQs
Q: What is TigerWit？
A: TigerWit is a global financial technology company that provides online trading services for Forex, commodities, and indices.
Q: Is TigerWit regulated？
A: Yes, TigerWit is regulated by the Financial Conduct Authority (FCA) in the UK and the Securities Commission of The Bahamas (SCB).
Q: What trading platforms does TigerWit offer？
A: TigerWit offers its proprietary trading platform, which is available on desktop and mobile devices. It also supports the popular MetaTrader 4 (MT4) platform.
Q: What is the minimum deposit required to open a live account with TigerWit？
A: The minimum deposit required to open a live account with TigerWit is $50.
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