Established in 2022, Wealth-FX is an online forex broker registered in United Kingdom allegedly offering more than 400 trading instruments through the advanced MT5 trading platform. To start trading with Wealth-FX, $100 is enough, and this broker says its spreads offered start from 0.4 pips.
Is Wealth-FX safe to trade with？
Wealth-FX has let us down when it comes to enforcing rules and regulations. This broker has been confirmed to be outside of the purview of any regulatory bodies. In light of this lack of licensing, WikiFX has assigned it a regulatory status of “No License” and an overall quality rating of 1.12 out of 10.
Bear in mind that trading with an unregulated forex broker is a surefire way to lose your money. Before making any choice, investors are advised to check out a forex brokers regulatory status on WikiFX.
Wealth-FX boasts that it provides access to more than 400 trading instruments through the advanced MT5 trading platform including Forex, Stocks, Indices, Commodities, Cryptocurrency.
Wealth-FX offers all investors a live account and a demo account. The minimum deposit to start trading with this brokerage house is acceptable $100.
Demo accounts are excellent tools for beginners to get a feel of this platform and test their trading skills without risking their real money.
Spreads & Commissions
Wealth-FX hypes that it offers competitive spreads from 0.4 pips, but there is no detailed information on this part.
Investors are advised to open a demo account on its MT5 trading platform to test spreads.
When it comes to leverage, Wealth-FX permits traders to use leverage of up to 1:300, which is significantly higher than the levels regarded appropriate by many regulators.
Don't assume that high leverage is always beneficial; it can magnify both your wins and your losses.
Wealth-FX provides the advanced MetaTrader 5 trading platform that can be accessed on any device, web, desktop, mobile app. Features like as comprehensive risk management, realtime market execution, and a wide range of charting tools and indicators are all a part of the MT5 trading platform.
You have access to all of these trading tools: Market and pending orders, Instant Execution and trading from a chart, stop orders and trailing stop, a tick chart, and trading history.
Traders can reach out to Wealth-FX about any questions or concerns they may have about their accounts or their trading through the following methods:
Registered Company Address: 71-75 Shelton Street Covent Garden, London, WC2H 9JQ, United Kingdom
Service Hour: Monday-Friday 6:00 AM to 6:00 PM (GMT)
Or you can keep up with VFM BROKERS on some social media platforms, such as Facebook, Instagram, Twitter, Linkedin and Telegram.
There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.
The information presented in this article is intended solely for reference purposes.