|Forex, Cryptocurrencies, Indices, Commodities|
The online trading industry is overwhelmed with an influx of new online trading brokerages, making it very difficult to find the one which is right for you. Traders must be careful when making an important decision such as choosing a broker to deal with because many of the online trading brokers available today are fraudulent or scam brokers. Therefore, it’s of the utmost importance to do your due diligence and research the online trading brokerages you’re interested in. We know this can be a lot of work, which is why we have taken the time to thoroughly review the online trading brokerage known as WiseTrader. So keep on reading and discover all the aspects that make up this online trading broker and whether or not they can be trusted.
WiseTrader is a fast growing online trading brokerage offering clients the opportunity to participate in the trading of Contracts for Difference (CFDs) on stocks, commodities, indices, and forex on global exchanges. WiseTrader is a young online trading brokerage who was only just established in 2017. While this brokerage may be young, the founding company who owns and operates WiseTrader is F1Markets Ltd, a well-established investment services company regulated by the Cyprus Securities & Exchange Commission (CySEC) under License number 267/15. The WiseTrader brokerage operates on an international basis, has offices around the world, and accepts traders from nearly every country, excluding the United States, Australia, and Canada. Since WiseTrader is an international broker, they offer their services in English, Spanish, Italian, and Dutch, and have their main headquarters located at 1 Ayias Zonis & Thessalonikis Street, Nicolaou Pentadromos Center, Office 908 A & B, 9th Floor, CY-3302 Limassol, Cyprus.
The WiseTrader brokerage is known to be innovative and disruptive in the online trading space and this is partly because they feature their very own proprietary web-based trading platform. The platform is very well designed and intuitively incorporates numerous advanced tools and features. While the platform is highly advanced, it is still easy to use and navigate as the interface is well designed. Some of the advanced features include an array of charting tools and technical indicators which allow traders to easily spot market trends and an assets volatility. Both beginner and advanced traders will find this platform to be more than sufficient for their needs as it’s simple yet intricate and rich with features. Also, this web-based platform is compatible with most browsers and can be accessed from any desktop computer or mobile device. Therefore, traders can make important decisions and manage their portfolio while on the go.
While WiseTrader’s platform and brokerage services are exceptional, the broker has yet to win any awards. However, WiseTrader is still young and is bound to win some awards if they continue to provide reputable services and a great trading experience.
WiseTrader prides themselves on offering an impressive array of tradeable assets, including assets in which many traditional brokers do not yet offer. One such tradeable asset class is cryptocurrencies. In addition to this innovative asset class, WiseTrader provides their clients with access to a wide range of CFD instruments including Forex, Commodities, Indices, and Stocks. In total there are over 180 top-class assets available to trade with leverage of up to 1:400 and competitive spreads. See below an overview of each asset class.
- 45 tradeable currency pairs including Majors, Minors, and Exotics
- Spreads as low as 0 pips
- Trade with leverage of up to 1:400
- Trade 3 of the top cryptocurrencies (Bitcoin BTC, Ethereum ETH, Ripple XRP)
- Trade with Llverage of up to 1:5
- Various spreads for each cryptocurrency asset
- 5 equity indices from the most lucrative markets in the world (United States, European Union, and the United Kingdom)
- Spreads as low as 0.9 pips
- Trade with leverage of up to 1:100
- 5 commodities (Gold, Oil, Brent, Silver, Coffee)
- Various spreads from as low as 0.05 pips
- Trade with leverage of up to 1:100
- 94 of the most successful individual stocks
- Blue chip company stocks
- Mostly U.S. market stocks
Bonuses & VIP Program
Unfortunately, WiseTrader does not offer their clients any bonuses or promotions. This is largely due to regulatory reasons as they are regulated by the Cyprus Securities & Exchange Commission (CySEC), which do not permit their brokerages to offer bonuses or promotions.
WiseTrader launched their very own proprietary web-based trading platform which is compatible on all smart mobile devices, including Apple and Android smartphones and tablets. The platform is fully optimized for mobile browsers, meaning it keeps the same functionality as the desktop version, but compacts the features to work on a mobile screen and device. The mobile platform operates surprisingly well and maintains the same look and feel as the desktop version. All in all, the mobile platform does not disappoint, however, it would be nice to see a mobile application as the user experience tends to be better than browser-based platforms.
Deposit & Withdrawals
WiseTrader provides their clients with a variety of deposit and withdrawal methods. Each method is subject to fees on the payment methods end, but no fees are imposed by WiseTrader. Regarding deposits, the minimum deposit amount is $250 and for withdrawals, the minimum withdrawal amount is $50. There are no maximums in which how much a client can deposit or withdrawal. The payment methods supported are the same for both deposits and withdrawals and they are; all major Debit and Credit Cards, Bank Wire Transfers, and various Electronic Wallets including Qiwi, Neteller, Skrill, Yandex, and iDeal. The currencies which are accepted via these methods are Euros, US Dollars and British Pounds. Whichever currency a client deposits, is the same currency they must withdrawal.
WiseTrader provides their clients with exceptional and personalized customer support. The brokerage truly cares about their clients and their success, which is why they take customer support so seriously. Support representatives can be reached 24 hours a day, 5 days a week from Monday – Saturday. The support options available include email, online contact form, live chat, and telephone. The support representatives are very friendly and professional and fairly quick with their responses. Other methods of support include communication through the brokerages social media channels which include Facebook, Twitter, LinkedIn. YouTube, and Google+. Also, traders can find support from the extensive FAQ page which is filled with comprehensive information that’s easy to find and navigate.
Extra Features & Resources
While WiseTrader provides clients with an excellent trading platform and exceptional brokerage services, they also go above and beyond by offering traders access to their rich trading academy. Here, clients will find loads of educational material and resources such as training videos, price charts, comprehensive courses, eBooks, market news, and trading tools which show traders how to identify and capitalize on market opportunities. The educational academy is accessible by anyone, meaning users are not even required to set up an account and make a deposit. WiseTrader wants their clients to be fully informed and educated when trading with them as their client’s success is just as important as theirs.
Overall, WiseTrader has proven to be an attractive and lucrative online trading brokerage who offers great services and a wide selection of tradeable assets, but there are also some prominent downsides as well. The web-based trading platform is very well designed but lacks the familiarity that many forex and CFD traders are used to. Also, while the brokerage features a wide array of tradeable assets, it is still lacking in comparison with some of the more prominent online brokers. One more downside to WiseTrader is that there are no bonuses or promotions, which can be disconcerting to traders who hope to be further rewarded for their success. Other than that, the WiseTrader brokerage is great and will do everything they can to help their clients succeed.
- Excellent proprietary web-based trading platform
- Dedicated customer service
- Regulated and trusted broker
- Wide selection of tradeable assets across numerous markets
- Support is only available in 4 languages
- No mobile trading application
- Relatively new online trading brokerage
Is WiseTrader regulated?
Yes. WiseTrader is regulated by the Cyprus Securities & Exchange Commission (CySEC) under License number 267/15.
Where is WiseTrader based?
WiseTrader is based at 1 Ayias Zonis & Thessalonikis Street, Nicolaou Pentadromos Center, Office 908 A & B, 9th Floor, CY-3302 Limassol, Cyprus.
How does WiseTrader make money?
WiseTrader charges trading fees through commissions and spreads.
How do I deposit in WiseTrader account?
WiseTrader accepts all major Debit and Credit Cards, Bank Wire Transfers, and various Electronic Wallets
How do I withdraw money from WiseTrader?
You can withdraw from WiseTrader through the same methods as deposits.
Can I trade on WiseTrader with my mobile device?
Yes, you can use your mobile device to trade on WiseTrader through the mobile devices web browser.
Is WiseTrader reliable?
WiseTrader has proven to be a reliable and trusted online trading brokerage.
Is Wise Trader a scam?
No. WiseTrader is a very legit broker and is not a scam.