CWG Markets

With the forex industry never ceasing to expand, we have firms such as CWG Markets to thank for. Is this broker worth an investment, or is it yet another cog in the vast machinery that is the financial market? Read on to find out.

As it should always be, CWG Markets makes it clear from the get go that it is Regulated by the FCA. The FCA strives to enforce strict industry standards, requires detailed reports from the company, and generally oversees that CWG Markets’s activities are within the boundaries of the law. CWG Markets is a member of the Investors Compensation Fund allowing for client compensations of up to £85 000 if the broker cannot meet its obligations to the trader.

The broker may be FCA approved and licensed, but this does not rule out the fact that the website is still quite quirky and at times does not function properly. Not to worry however, for these nuisances are caused by the website’s youthful nature.

The leverage is limited by ESMA to a maximum of 1:30. With that said, professional clients (extensive experience in trading, over $500k in finances) can apply for a higher leverage within the confines of ESMA regulated territory, of up to 1:200.

The spread of the EUR/USD currency pair is shown on the website to be on average 1.3 pips. This is if using the classic account.

However, as aforementioned, the website is still not fully functional and for that reason we weren’t able to open a demo account with any of the platforms to check the cost of trading.

At CWG Markets users can trade using the following assets: Forex Pairs, Precious Metals, Indices and Commodity Futures. Now, we are aware that this is not nearly enough to come to industry standards, but readers must remember that CWG Markets is still in its first months of release.

The same can be applied to the limited, for now, supply of languages: English and Chinese.

CWG MARKETS LOGIN

The brokerage has integrated two of the top current trading platforms, the MT4 and MT5. Nevertheless, before we proceed we would like to mention once more that our attempts at opening an account were futile, caused mainly by the fact of having received confirmation emails in Chinese and being redirected to the Chinese Log In Details page.

METATRADER 4

Despite the hindrances, as one of the leading platforms in the world, even surpassing its successor at times. MT4 design and interface is by now well known. The platform is abundant in trading options and possibilities, and attractive to users both rookie and pro. The platform also allows for VPS’s. The point of the VPS is to let the auto trading bots trade, without worrying that his job will be interrupted by a power failure or net crash. CWG Markets allows for PAMM (Percentage Allocation Money Management) accounts to be utilized. The essence of this is that inexperienced traders, or those without the time, can allocate a sum of their money to a qualified trader they chose before hand. From there on these adept traders will trade with their and your money with the sole purpose of generating as much profit as possible.

The leverage is EMSA locked to 1:30 while the spread, as we couldn’t open a demo account, is showcased as being on average 1.3 pips for the EUR/USD pair.
Advanced Accounts and Institutional Accounts offer different spreads, but most importantly come with commission.

The Advanced Account’s commission is $3 per side, or $6 round turn, which increases all costs of trading with 0.6 pips. For example, say that the spread while using the Advanced Account is 0.3 pips, then with the added commission it shifts to an actual cost of trading of 0.9 pips.

The same principle is applied to the Institutional Account. The commission here is $1.5 per side, or $3 round turn, which increases the spread with an additional 0.3 pips.

The MT4 is available as a desktop trader, and can be installed on Apple and Android devices.

METATRADER 5

The Metatrader 5 trading platform has certain advantages over its older brother (MT4) that, although cannot change the contents of your wallet as much as you would like, can still make a difference. MT5 features more technical indicators, a larger number of graphical objects and increased time frames. As always MetaTrader 5 does not fall short on the important inclusion of Expert Advisors. PAMM support is available with the MT5.

The leverage is EMSA locked to 1:30 while the spread, as we couldn’t open a demo account, is showcased as being on average 1.3 pips for the EUR/USD pair.

This MT5 come with Apple/Android support, can be accessed on a desktop version, and can be used on a browser:

CWG MARKETS MINIMUM DEPOSIT

The minimum deposit is $200. This is a very fresh value, and is appealing to all traders, no matter the level of forex knowledge.

Deposits can be made via an average number of methods: VISA, MasterCard, Wire Transfer, Neteller, Skrill, PaySafe Card, UnionPay.

For all payment methods the base account currencies are GBP, USD, EUR, and CNY for users of UnionPay.

Funding process times are instant, and there are no fees issued by the broker for depositing into a trader’s account.

CWG MARKETS WITHDRAWAL TIME AND FEES

Rest assured that the FCA promotes a clean and safe withdrawal policy for all brokers under its supervision.

The withdrawal methods are the same as the depositing ones: VISA, MasterCard, Wire Transfer, Neteller, Skrill, PaySafe Card, UnionPay.

If a request to withdraw is received by the broker before 15:00 GMT, that same request will be processed during the same day. If not, it will be ready on the following day. The time for the payment to reach your personal account depends on the payment systems themselves; Bank Transfers can usually take up to 3 days to arrive.

For the convenience of its users, CWG Markets has not included any withdrawal fees, and there is no minimum withdrawal amount. These two aspects open a whole new world of opportunity for more retail traders.

BOTTOM LINE

CWG Markets is still in its green years, but don’t let that push you away from it. The truth is that this is a very solid broker, one that has a lot more on its agenda, meaning that if you stick around you will surely be pleasantly surprised.