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TradeWiseFx review

TradeWiseFx


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: Clarist | Date 2020-09-09
Recently, I tried their third account with an initial deposit of $2000, and it's very interesting, because I can use my own but sometimes I use automated strategies. I get a fast service with executions that carried out as soon as possible. All of my trades have been executed as expected.
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Author of TradeWiseFx: Hontal | Date 2020-06-18
I am very disappointed with TradeWiseFX. Actually I am news trader. I executed around 25 news trades with them in 4 months and all are worst slipped by more than 40 pips. But last UK GDP news got 110 pips slippage on my USD/GBP pair. They also increase their spreads on new time. I have experience 7-8 pips spreads on news time. Their trading environment is not for me. I may not go far with this broker!
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Author of TradeWiseFx: Tixian | Date 2020-05-18
I think the bonuses they offer are just a trap. No bonus appeared on my newly opened account. My trading results are always disappointing. I have never made a profit, only a deficit. My money will only continue to decrease every time I trade. They also didn't give me a solution at all. It's very difficult to reach them when it's difficult. They are only enthusiastic if anyone wants to deposit it. The rest they will not care what happens with customer trading.
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Author of TradeWiseFx: Delon | Date 2020-02-11
I decided to join trading in Trade Wise Fx because they don't set a minimum account size and their spread is fixed at 2 pips. For over 9 month of trading, Trade Wise Fx is the worst broker with stable trading program. But I was having a hard-time to deal with their operator and support team, since I use their new platform. Its freezing all the time and there are many requotes. I have lost almost $600 during this issue on the platform. I hope they stop cheat traders.
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Author of TradeWiseFx: Agnes | Date 2019-11-07
First impression I know this broker, they are not available whenever I got loss. They could not be contacted. They have cancelled my orders with no reasons. I got $700 profit but I couldn't withdraw my profit. it seems they are total fraud and I wasted my hard-earned money. I just want to advice you, don't choose this broker. They will run your money.
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Author of TradeWiseFx: Janarthan | Date 2019-10-02
TradeWiseFX isn't safe for invests or trading. As their platform has many lucking and their spread goes higher in news time. So my orders aren't profitable, while it hit TP, as orders didn't close. Till now I have lost almost $230 in their classic account. Now I am disappointed with TradeWiseFX and withdrawn my rest invest through Skrill account. So they banned my account so far.
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Author of TradeWiseFx: ArneGockeln | Date 2019-05-06
Dear traders, my investment isn't safe with TradeWiseFX broker due to the bad service. While their platform has many issues, If I have any profitable position then it didn't close or order could be slippage for fake market prices. Their worst service is withdrawal, it almost one week. So I am disappointed with TradeWiseFX in a Classic account. So I think to withdraw my invest, but I am banned now. No response for them.
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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.
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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 $50 through Skrill account. Now I just checked their reviews on the website and I have found that they only ripping people on a regular basis.
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Author of TradeWiseFx: Violetafx | Date 2018-04-30
I'm a day trader using medium term positions, and I opened a standard account with TradeWise a couple of months ago. My first deposit was 150$, 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.
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