Trading analysis eBook is available on request for only clients that have a live account that is funded with at least $100. The brokerage service is held by the Western group INC company and was founded in 2013. The broker has three offices in Bangladesh, Canada, Saint Vincent and the Grenadines. An inexperienced user might think that this already adds up to a good reputation. However, because the regulation country is in an offshore zone, the requirements are very loose, making an investment here possibly risky.
Forex Current prices & Spreads
- You will be required to login to your registered email and click on the link from WesternFX to verify your email.
- Our clients have free access to a variety of trading instruments and state-of-the art information technology and software products from leading companies, such as the popular MetaTrader 5.
- However, the safety of your investment ultimately depends on your trading strategies and risk management practices.
- If the individual forex prices in that index increase, then the value of the index will go up.
However, this can only be confirmed by trying to make an investment and withdrawing the funds. Here is one more opinion that states that the broker provides quality service and quickly withdraws funds. Yes, WesternFX supports automated trading through Expert Advisors (EAs) and robots. Traders can make use of the Deal size calculator, Pivot Calculator and Fibonacci calculator. These calculators are handy when planning a trade or during analysis. Anyone can easily register for this practice account and receive the login details almost immediately.
WesternFX reviews
There is a 4-th year celebration bonus and a 20% rescue bonus. It is a surprise, but there are very few reviews about WesternFX. We have surfed many rating websites and trading forums, but there was not enough information that could be trusted.
What can you trade with WesternFX?
But after these 3 months, I always pay attention to some things that can make my trading a mess. And I also ask my brothers, they will gradually eliminate your money. In addition, Western Fx offered high spreads, slow executions, unstable trading platform, and delayed withdrawal system. https://forexbroker-listing.com/ A currency trading platform is a software interface provided by currency brokers to their customers to give them access as traders in the Forex markets. This may be an online, web-based portal, mobile app, a standalone downloadable program, or any combination of the three.
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WesternFX trails other top brokers in this aspect as some of them have robust and comprehensive academies categorized according to traders’ experience level. Also, the analysis provided is not comprehensive and there are no signals or social trading platform. Another drawback is its regulation, many industry experts frown at offshore regulators. Therefore, they warn traders to avoid them because they are inferior to the more popular regulators like FCA, CySEC, ASIC, etc.
Plenty of ways to get in contact with the customer service team, WesternFX could be a decent broker to use as long as the commissions and withdrawal fees are in line with the industry standards. WesternFX is an established Global STP forex broker serving both individual and corporate clients around the globe. We offer all of our customers a comprehensive range of trading options specializing in FX and CFDs (Contracts For Difference), precious metals, energy and indices. WesternFX’s technical support, and consulting services, with the goal of making the trading process efficient, hassle-free, and above all highly profitable for you. From new account registration to money withdrawal, superior customer service is our strategic priority.
The minimum amount required to open an account is $25 which gets you the Standard account, if you want a different account the next requirement is for the ECN account which is $250. In this review, we will be looking at a broker named WesternFX, a member of the Western group Inc., established and online since 2013. This company does not appear to be regulated by any government authority at this time. For this reason we recommend our readers to deal with properly regulated brokers, preferably by UK’s FCA or the Australian Securities and Investment Commission (ASIC). Make sure you possess sufficient skills and experience for this activity and are aware of possible risks.
The support team is open 24/5 and is closed at the same time as the markets over the weekend and on bank holidays. The Standard and Prime accounts do not have any added commissions as they use a spread based system that we will look into later in this review. The VIP, ECN and Zero Spread accounts have an added commission for each trade.
I can trade any asset at WesternFX because they have an abundant selection of trading instruments. Also, their platform has a great interface so the trading activities are done conveniently. As of now, I already made more than a hundred dollar of profits at this broker. Been hoping for the last 3 months, they will improve, but its getting much worse now. Customer service was unable to help tp fix this problem as they keep diverging the topic away from them, telling me its my fault.
WesternFX is a forex brokerage firm that strives to provide a conducive trading environment for its global clients. The broker is regulated by the FSA SVG and the standard regulatory practices like KYC, clients’ fund segregation, best execution policy, are all maintained. WesternFX is the first-class broker in the market I have ever seen, As my westernfx orders are executed within a moment and I can use a lot of tools in the popular MT4 platform. As a scalper, the trading environment in my favour, Beside WesternFX’s signals are highly reliable, so I can easily decide to make a profitable trade. Last two years I have been enjoyed this super-fast execution of MT4platforms with Mobile traders too.
There are two related strategies when talking about hedging forex pairs in this way. One is to place a hedge by taking the opposite position in the same currency pair, and the second approach is to buy forex options. Demo accounts can be accessed by filling in a form, you can select the deposit amount on this initial form. The trading conditions of the demo account are not stated so it is not clear which account they mimic, there may be a choice of this later in the signup process. There is also no mention of any expiration times so hopefully, they last indefinitely. The spreads are variable (also known as floating) so this means that when the markets are being volatile, the spreads will often be seen higher.
Every day, WesternFX presents a review of the market movement of the trading instruments. WesternFX is the trading name of ‘Western Group Inc.’ which is a financial services firm incorporated in St. Vincent and the Grenadines. It is regulated by the Financial Services Authority of St. Vincent and the Grenadines (FSA-SVG).
Forexdailyinfo.com is a prominent financial portal that covers various promotions offered by global financial brokers for Forex, CFD, Stock and Option trading. Just like most Forex brokers, this company works with popular MT4 software. When you make a deposit or withdrawal, remember about the fees that might be charged by the payment systems. For more information or to share your experience with WesternFX, visit forexroboteasy.com. Remember, this is an independent review, and it is always advisable to conduct your own research before choosing a Forex broker.
So, they decided to set up a model brokerage firm to revolutionize the brokerage industry. Though incorporated and regulated in St. Vincent and the Grenadines, WesternFX has its headquarters located in Toronto, Canada. Hedging with forex is a strategy used to protect one’s position in a currency pair from an adverse move. It is typically a form of short-term protection when a trader is concerned about news or an event triggering volatility in currency markets.
We remind our dear readers that WesternFX is regulated in an offshore zone with the loose requirements and investing your funds here might be risky. Promotions like these are usually made to motivate inexperienced users to invest as much as possible before they understand that it is a scam. WesternFX has the slogan ‘Share success, join the best and reach the unreachable’. Though, the brokerage has its shortcomings, overall, it can be regarded as a standard forex broker with high potentials for improvement. The modern MT5 trading platform is available for trading and analysis. Traders are provided with tools like market news, analysis, calculators, economic calendar and some other trading aids.
However, the lack of thorough regulation and inaccessibility to U.S. traders may be potential drawbacks worth considering for risk-averse traders. Like the vast majority of forex brokers, WesternFX offers the standard and popular MetaTrader 4 (MT4) platform – as a desktop and mobile application. Different types of accounts are available for traders to choose from.
The indices track the underlying prices of the currency pairs within that index. If the individual forex prices in that index increase, then the value of the index will go up. Conversely, if the individual FX prices decrease, then the value of that index will fall.
However, a notable downside is their lack of serious regulation which could pose potential risks. Prospective traders should consider this aspect before committing to this platform. You can withdraw or deposit funds on a trading account through bank wire, credit cards, and e-wallets such as UnionPay, Neteller, Payza, and Perfect Money.