WSI Forex Xem lại

On-line since: 2017
Country of origin: Saint Vincent and the Grenadines
Regulation: FSA
Payment options: wire transfer, bank cards, electronic payment systems
Minimum account size: $100
Minimum lot size: 0.01 lot
Leverage: up to 1:500
Spreads: fixed, floating, from 0.6 pip

About the company:

WSI is a Forex and CFD broker, offering trading on the MetaTrader5 platform. If you are considering opening an account with this broker, we recommend you to read our review first.

Company. Security of funds

WSI belongs to Wave&Soros International Ltd, registered in Saint Vincent and the Grenadines. The broker claims its activity is supervised and regulated by the authorities of Saint Vincent and the Grenadines. 

However, the Financial Services Authority (FSA) of Saint Vincent and the Grenadines recently warned in a statement that it does not issue any licenses for forex or binary options trading and does not regulate, supervise or license international companies engaged in such activities. Besides, the FSA cautions that there are financial institutions that falsely claim they are registered or licensed by the institution.

All that makes us very suspicious about the WSI activity.  

The license is crucial for the safety of any investment. Many licensing authorities require brokers to keep all clients funds in a segregated account, which means the company will not be able to use clients’ investments for its own purposes.

Trading conditions

WSI offers near 53 currency pairs and several CFDs on gold, silver, oil and 10 indices. The broker uses STP technology.

Minimum initial deposit

The minimum deposit required to open an account with WSI is $100. That is an average amount on the market. However, if you are not ready to invest such sum of money, in our rating you will find brokers who provide trading from $1.

Spreads and commissions

WSI says their spreads start from zero. However, the minimum spread is estimated at 0.3-0.4 pip on the demo account. To this, you still need to add a broker commission of $2.4 for a standard lot. Thus, for the popular EUR/USD pair, spreads start at 0.6 pip.

Leverage

The maximum leverage WSI offers is up to 1:500, and that is more than enough to accommodate any trading strategy. A high leverage can help traders with smaller deposits get a good profit. Generally, experienced traders rarely use leverage of more than 1:100, as higher leverage comes with higher risk. Use leverage with extreme caution!

Trading platforms

MetaTrader4 was created by MetaQuotes. The platform has all the functionalities needed, including the option to run automated trading sessions with the help of specially designed trading bots or advisors.

The only disadvantage is that some algorithms compiled for MT4 are not compatible with MT5, the next company’s development. To date, MT4 is the most popular platform in the industry used by 90% of all traders.

Promotions/Bonuses

Traders can increase the size of their account using the Bonus on Deposit. The bonus cannot be withdrawn but can be used in trading. The maximum bonus amount is $500.

Support service

The support works 24/5. Despite the broker’s loud statements that specialists are ready to help traders at any time of the day, we did not find a phone number for communication. The company offers a form for feedback and e-mails.

Payment options

With WSI you can deposit or withdraw funds with e-wallets such as Neteller and Fasapay and wire transfers. However, you can’t use Visa or MasterCard.

Advantages:

• low deposit;
• high leverage;
• demo account.

Disadvantages:

• no cryptocurrency trading;
• offshore broker.