Introduction
Wforex.com is a website that provides information on Forex Trading, Regulated platforms, Instruments and Ratings. The website is geared towards those who are new to Forex Trading, and provides a good amount of information on the various aspects of the industry. Wforex.com also offers a demo account, so that users can practice trading before they actually invest any money.
What is WForex.com?
WForex.com is a leading online broker offering forex and CFD trading for private and institutional clients. The company is headquartered in Moscow, Russia and is regulated by the Central Bank of Russia. WForex.com offers a wide range of currency pairs, metals, indices, and energy commodities for trading on its MetaTrader 4 platform.
WForex.com has been providing online trading services since 2006 and is a member of the Russian Forex Association (RFA). The company has won numerous awards over the years, including “Best ECN Broker” at the 2015 Forex Expo Awards, “Best Micro Forex Broker” at the 2014 International Finance Magazine Awards, and “Best ECN/STP Broker” at the 2013 MENA FOREX Expo.
The Different Types of Accounts Offered
When it comes to online forex trading, one of the most important things to consider is the type of account that you will use. There are three main types of accounts offered by online brokers: micro, mini, and standard. Each type of account has its own set of benefits and drawbacks, so it’s important to choose the one that best suits your needs.
Micro Accounts: Micro accounts are the smallest type of account available, with a minimum deposit of $1 USD. They offer access to a limited number of currency pairs and usually have higher spreads than other types of accounts. However, they are a good option for beginner traders who want to get started with a small investment.
Mini Accounts: Mini accounts are slightly larger than micro accounts, with a minimum deposit of $100 USD. They offer access to more currency pairs and usually have lower spreads than micro accounts. Mini accounts are a good option for traders who want to increase their investment without committing too much capital.
Standard Accounts: Standard accounts are the largest type of account available, with a minimum deposit of $2,500 USD. They offer access to all currency pairs and usually have the lowest spreads available. Standard accounts are a good option for experienced traders who want to maximize their profits potential.
The Different Types of Platforms Available
The Different Types of Platforms Available:
There are three different types of platforms available at WForex.com: the MetaTrader 4 (MT4) platform, the Webtrader platform, and the mobile trading platform. The MT4 platform is the most popular and widely used platform among forex brokers and traders. It is a very user-friendly platform with a lot of features and tools that allow traders to conduct technical analysis and place orders easily. The Webtrader platform is an online trading platform that can be accessed from any web browser. It is not as feature-rich as the MT4 platform but it is still a good platform for beginner traders. The mobile trading platform allows traders to trade on the go from their smartphones or tablets.
The Different Types of Instruments Available
If you’re looking to get started in forex trading, one of the first things you need to do is choose the right type of instrument for your trading goals. Here’s a look at the different types of instruments available through WForex.com:
– Currency Pairs: The most popular type of instrument traded on the forex market, currency pairs are simply two different currencies traded against each other. For example, the EUR/USD pair represents the value of one Euro in terms of US dollars.
– Spot Metals: Precious metals like gold and silver can also be traded on the forex market. These spot metals are usually traded against major currencies like the US dollar or Euro.
– CFDs: Contracts for difference (CFDs) are derivative instruments that allow you to speculate on the price movement of underlying assets without actually owning them. For example, you could trade a CFD on Gold without actually owning any gold yourself.
– Futures: Futures contracts are another type of derivative instrument that allow you to speculate on the future price movements of underlying assets. For example, you could trade a futures contract on Gold that would expire in 6 months time.
The Pros and Cons of WForex.com
WForex.com is a Forex broker that is headquartered in Russia. The company is regulated by the Russian Federal Financial Markets Service (FFMS). WForex.com offers the MetaTrader 4 and MetaTrader 5 trading platforms. The broker provides access to the interbank market, as well as tight spreads and fast execution.
WForex.com has both pros and cons. Some of the pros include:
-The company is regulated by a reputable authority
-The broker offers access to the interbank market
-Tight spreads and fast execution
-MetaTrader 4 and MetaTrader 5 platforms offered
Some of the cons of WForex.com include:
-The broker is not available to U.S.-based traders due to regulations
-There have been some complaints about customer service
Conclusion
Overall, WForex.com is a reliable and trustworthy broker that offers a wide range of features and services. The company is regulated by the Russian financial authorities, which gives traders peace of mind when it comes to the safety of their funds. The trading platforms are user-friendly and offer a good selection of instruments to trade. With competitive spreads and leverage up to 1:500, WForex.com is a good choice for both beginner and experienced traders alike.