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TradeWiseFx review

On-line since: 2015
Country of origin: Saint Vincent and the Grenadines
Regulation: FSA
Payment options: wire transfers, Visa и MasterCard credit/debit cards, Skrill, Neteller (Giropay, Bitcoin), OKPay, and FasaPay
Minimum account size: $25
Minimum lot size: 0.01 lots
Leverage: 1:500
Spreads: from 0 pips

About company:

TradeWiseFX was established relatively recently, in 2015. However, its trading conditions have attracted traders’ attention. Being registered in Saint Vincent and the Grenadines, Tradewise Ltd owns the brand. TradeWiseFX is a STP/ECN brokerage company which offers its services to clients from more than 50 countries. Instruments for trading are currency pairs, metals, oil and natural gas futures, and CFDs.

The company has three types of trading accounts. ECN Pro account offers variable spreads, a minimum spread for the EUR/USD pair is 0.1 pips. A minimum deposit is $25. This account type requires a €$2 commission per Forex lot, €$0.35 per CFD lot, €$5 per metal lot.

Scalping, hedging, automated advisors are permitted. The size of leverage depends on the trading instrument, 1:500 for currencies and metals, 1:300 for CFDs. There are about 60 currency pairs. The level of the Stop out is 100%.

Classic account offers traders similar trading conditions and possibilities, i.e. variable spreads, however, they are higher than on ECN Pro account, from 1.6 pips. Moreover, the commission is not charged. The size of the leverage and the minimum deposit are the same.

The third account, Autotrade, allows clients to trade using their own and automated strategies. The deposit is $1,000. Spreads start from 2 pips. The commission is not charged. Moreover, clients may get access to swap-free accounts, PAMM/MAM accounts. If a trader replenishes a deposit with $5,000, free VPS hosting is at their disposal.

Trading is conducted through the MetaTrader 4 platform. It is the most popular among brokers and traders. MetaTrader 4 has the possibility to draw charts, and includes more than 30 signals and many other useful features. The platform is compatible with Windows. Besides, it can be downloaded for Android and iOS.

Support service is available via phone and email, there is FAQs section on the website. The news section contains information about current fluctuations in the forex market. The website is available in English language.

One may deposit an account by wire transfers, credit cards, and electronic payment systems. The brokerage company accepts USD and EUR.

There are promotional campaigns. According to one of them, a trader receives $50 for every new referred client. There is 50% bonus, but funds may be withdrawn if a trader fulfills particular conditions.

Read the latest reviews about TradeWiseFX in the Commentary section.

TradeWiseFx 3/10 (votes 2186)
Author of TradeWiseFx: Quiel | Date 2018-11-19
I just opened an account at TradeWiseFX a month ago. I thought that it was a great broker because of their advertisements. It was very convincing. But I was not very impressed when I started trading. Their actual spread is high at 3 pips but they claimed that their spread is only 1pip. Then their platform cannot hold high volatility. It crashes and when it disconnects, it would already be hard for me to reconnect. For a month of trading, I only gained about 1-2% profit.
Author of TradeWiseFx: GlennFinau | Date 2018-09-05
Dear traders, I am frustrated with TradeWiseFX in a Classic account due to the huge spreads, slow execution, and bad withdrawal service. I think these three things are very important for any traders. My orders slippages on the platform, even sometimes their spread goes high and when I tried to withdraw my profit then they canceled the request. I can't make the profit on my granted profitable trade and till now I able to withdraw only around $50 through Skrill account. Now I just checked their reviews on the website and I have found that they only ripping people on a regular basis.
Author of TradeWiseFx: Violetafx | Date 2018-04-30
I'm a day trader using medium term positions, and I opened a standard account with TradeWise a couple of months ago. My first deposit was 150$, and I made a profit of 78$ after the first 3 weeks of trading. After I withdraw that profit, the problems with the platform started. I had delays in execution, crashes of the platform and negative slippage. I lost my deposit 150$, and tried to speak with their support team to see why they have this bugs. They answered maybe the issues were from changing the server. I deposited again 150$ and the problems still were there. I lost that deposit also after I try to trade EUR/USD, USD/CHF and USD/JPY. I don;t recommend the broker, is a scam.
Author of TradeWiseFx: Zainab | Date 2018-03-12
This is a fraudulent broker. I opened an account with tradewisefx 2months back, deposited $300 and I traded on CFD and metal i earned some profits of $330 after 2 weeks of trading and try to withdraw some amount first it seems I can get my money, but after a few days no one contacted me even my account manager, until now I have not heard anything from them.
Author of TradeWiseFx: Dewy | Date 2018-01-19
I used to trade with tradewisefx last year. During that time I had problems with the platform, I faced some interruptions and delays in execution and there are sudden spread change. I deposited 150$ and I lost 60 percent of my investment. I tried to trade currency pairs EUR/USD, USD/CAD, GBP/USD AND USD/CHF. But I ended up closing my account because, due to the lack of support, I think they are not recommended to beginners.
Author of TradeWiseFx: Kareem | Date 2017-12-14
Tradewisefx is a pure scam which I have realized after spending 6 months with them. They trick you when you start to make money. They sometimes show network problem to lose you money. I started with $200 , now I have $20 remaining in my tradewisefx, all profits gone and won't even allow me withdraw my remaining balance !
Author of TradeWiseFx: Benkolen4X | Date 2017-11-08
I am very disappointed with TradeWiseFX. The spreads on real account are higher than those on demo one. Their stop loss never work during news time. One of the worst experience I've ever had with them at last ECB conference time! I was opened an position on EUR/USD pair and set SL below 30 pips but position was closed at 75 pips away from the price i set up as a stop loss. I lost $243 just in a single trade. I can't believe that any successful trader would keep trading with this broker. My advice is to stay away.
Author of TradeWiseFx: Name: | Date 2017-10-12
I have had a problem with my Autotrade trading account since last week. They kept declining my withdrawal request for the unknown reasons. My account had already got the highest level of verification, but still unable to proceed to my withdrawals. The total money I am about to cash-out is too small, it's only $64.74 yet this company barred me from getting out my earnings. This broker is getting into my nerve as I always got a different response every time I asked their staff what's wrong with my account and why they couldn't accept my withdrawal request! I didn't violate the rules nor employ any prohibited trading methods. My conscience is clear. I earned the profits from my hard work and all the money that was used for my trading are from my own pocket. I never applied to any of their bonus promos because the trading conditions are dodgy. It's very easy to transfer the money here, but the nightmare starts when making a withdrawal request. I really don't expect this, because before I transferred my money I made a thorough research to make sure I won't be scammed, and I never found any negative reviews about them. To be honest, I don't know if I can still get my earnings because they ignored my messages since Monday. :(
Author of TradeWiseFx: capricornrt | Date 2017-08-17
I've been trying to reach out to you but you kept ignoring me. I have so many unanswered emails and ignored calls in skype. What's keeping you busy or why you keep ignoring me??? You guys at first deliver what you have promised and very reliable when I was starting in my forex trading career but as soon as I am earning and about to reach my dream to be rich in forex you started to ignore me and you blocked my account for a reason that i am cheating!! you don't know what you are talking about and you can't give me proofs! I swear I am gonna report you to the authority!!!!!!!!!!!!!!!!!
Author of TradeWiseFx: fxijeutwo | Date 2017-07-27
I will close my account in TradeWiseFX if they not give my money back also my profit. My trading process have delays in execution which make the prices to be unreal by the time I make a deposit about $75. This is my first trading after I use demo account, in demo account every thing work well and I got many bonus. But in real account they take my deposit and make bad server so I lose my profit and do not get anything. I lost almost the $75 which I started trading with. I called their support team regarding this delays and bugs but they can't help. Really bad broker, I think.
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