Note: The information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
What is Webfox？
Webfox is a brokerage firm registered in Saint Lucia while physically operates in Dubai. It provides clients with access to various financial instruments such as CFDs, Indices, Forex and Metals. However, it's important to note that Webfox currently lacks regulatory oversight from any established financial authorities, which should not be ignored by interested investors.
In the following article, we will analyse the characteristics of this company in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
Pros & Cons
Webfox offers a diverse range of trading instruments, including CFDs, Indices, Forex, Metals, ensuring traders have ample opportunities. Their low starting spreads from 0.0 pip enhance profitability, while the advanced MT5 platform provides sophisticated trading tools. Tired accounts with 4 types cater to various trading needs, with acceptable minimum deposit at $100 affordable for most investors, even beginners. Additionally, a demo account allows risk-free practice.
However, the lack of regulatory oversight and limited transparency on commissions/payment methods are concerns. Moreover, restrictions on clients from certain countries including the United States, Cuba, Iraq, Myanmar, North Korea, Sudan may limit accessibility.
Is Webfox Legit？
When considering the safety of a brokerage like Webfox or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
User feedback: To get a deeper understanding of the brokerage, it is suggested that traders explore reviews and feedback from existing clients. These shared insights and experiences from users can be accessed on reputable websites and discussion platforms.
Security measures: Webfox implements Margin Call and Stop-Out mechanisms to protect traders from excessive losses. Margin Call alerts users when account equity falls below required levels, prompting action to prevent further losses. Stop-Out automatically closes positions to prevent account balance from reaching zero, ensuring risk management and safeguarding trader investments.
Ultimately, the choice to trade with Webfox is a personal decision. It is important to thoroughly assess the risks and benefits before arriving at a conclusion.
Market Instruments
Webfox offers a diverse range of market instruments, providing traders with access to over 1000 products across 125 markets.With CFDs (contracts for difference), traders can speculate on the price movements of various underlying assets, including commodities, forex, stocks, metals, and indices. CFD trading allows traders to leverage their positions, enabling them to amplify their returns with a smaller initial investment.
Indices trading through CFDs offers easy access to the performance of broader markets or specific sectors, such as technology, allowing traders to diversify their portfolios and capitalize on market trends.
Forex trading via CFDs provides opportunities to profit from fluctuations in currency pairs, with the forex market being highly liquid and accessible 24/5.
Additionally, trading precious metals like gold, silver, palladium, and platinum through CFDs offers a hedge against inflation and a safe haven during market volatility.
Account Types
Webfox offers four types of trading accounts: Standard, Professional, ECN, and Elite.
The Standard account requires a minimum initial deposit of $100, while the Professional account requires $1,000. For the ECN and Elite accounts, the minimum initial deposit is higher, at $10,000 each.
At the same time, the broker also offers a demo account, which allows traders to practice their trading strategies and familirize themselves with the platform in a risk-free environment.
How to Open an Account？
To open an account with Webfox, you have to follow below steps:
Complete any verification process for security purposes.
Once your account has been approved, you can set up your investment preferences and start trading.
Leverage
Webfox provides leverage of up to 1:500 across all account types, allowing traders to amplify their positions and increase their returns. This high leverage enables traders to control larger positions with a smaller amount of capital, but it also increases the risk of significant losses. Investors should understand the underlying meaning and associated risks, and use leverage wisely to avoid huge losses in capitals.
Spreads & Commissions
Spreads and commissions vary across Webfox's account types.
The Standard account has spreads starting from 1.5 pips, while the Professional account offers tighter spreads starting from 0.8 pips.
ECN and Elite accounts feature even tighter spreads, starting from 0.1 pips and 0.0 pip respectively.
Additionally, Webfox offers low-to-zero commissions and waives overnight fees for leveraged positions, providing cost-effective trading options for its clients.
Trading Platform
Webfox provides access to the highly esteemed MetaTrader 5 (MT5) trading platform, compatible with Android, Windows, and iOS devices.
Renowned for its versatility and advanced functionality, MT5 offers traders and brokers an array of sophisticated tools for optimal trading experiences. With enhanced features like expanded scripting capabilities and expert guidance, MT5 empowers users with comprehensive trading solutions. Its user-friendly interface, coupled with advanced analysis tools and customizable indicators, caters to the diverse needs of traders across various markets.
Customer Service
Webfox offers comprehensive customer service through multiple channels during their office hour 8AM - 6PM, Mon - Sun: phone support, email communication, physical address for correspondence, a contact us form on their website, and a detailed FAQ section for answers to general inquiries. These varied options ensure users can easily reach out for assistance and find answers to their questions
Tel:+971-42886095.
Email: support@webfoxfx.com.
Registered Office: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia..
Physical Office: 1402, A L Mussa Tower-2 Near Emirates Metro Station, Shek Zaid Road Dubai..
Education
Webfox offers comprehensive educational resources to help traders enhance their financial market knowledge.
Their free in-person seminars cover a range of topics, from basic trading principles and platform tutorials to advanced trading strategies.
Additionally, Webfox's latest blogs provide expert-driven advice and valuable resources aimed at helping users earn, save, and grow their money, ensuring they stay informed and updated with the latest market trends and insights.
Conclusion
Webfox, a brokerage firm registered in Saint Lucia while has a physical office in Dubai, offers CFDs, Indices, Forex, Metals as market instruments to its clients. However, the current lack of regulation from recognized authorities should prompt concerns for investors. Regulation typically ensures financial oversight, protecting clients from possible malpractices.
Therefore, individuals considering Webfox as their broker should be cautious, do their own research and explore alternative, regulated brokers that prioritize transparency, security, and client protection
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
