WSIFOREX

About company:

WSI is a Forex and CFD broker that offers trading on the MetaTrader5 terminal. If you are planning to open an account with this broker, then we advise you to read our review first.

 

Company. Fund security

WSI is owned by Wave & Soros International Ltd, which is registered in Saint Vincent and the Grenadines. The broker claims that its activities are controlled 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 to trade Forex or binary options, nor does it regulate, control or license international companies that are engaged in such activities. "

 

In addition, the FSA warns that there are financial institutions that falsely claim that they are registered or licensed by the institution.

 

All of this raises suspicions about WSI activities.

 

The availability of a license is critical in the matter of investment security. Many licensing authorities require brokers to keep money in segregated accounts, which means that the company will not be able to take advantage of clients' investments for its own purposes.

 

Trading conditions

WSI offers about 53 currency pairs and several CFDs - on gold, silver, oil and 10 indices. The broker is based on STP technology.

 

Minimum initial deposit

The minimum deposit required to open an account with WSI is $ 100. This is the ideal industry average. But if you are not sure that you are ready to invest such an amount, then in our rating you can find brokers who allow you to open an account starting from $ 1.

 

Spreads and commissions

WSI claims their spreads start at zero. However, on a demo account, spreads start from 0.3-0.4 pips. To this you also need to add a broker's commission of $ 2.4 per standard lot. Thus, for the popular EUR / USD pair, spreads start from 0.6 pips.

 

Leverage

The maximum leverage from WSI is up to 1: 500, which is more than enough to accommodate any trading strategy. A high level of leverage can help traders with smaller deposits make good profits. As a general rule, experienced traders rarely use more than 1: 100 leverage as higher leverage carries higher risks. Use leverage with extreme caution!

 

Trading platforms

MetaTrader4 - developed by MetaQuotes. The platform has all the functions required for trading, including the ability to launch automated trading sessions using specially designed trading bots or experts.

 

The only drawback is that some algorithms developed for MT4 are incompatible with the next development of MetaTrader5. MT4 is by far the most popular terminal in the industry, with 90% of all traders trading.

 

Promotions / bonuses

Traders can increase their account size with the "deposit bonus" bonus. The bonus cannot be withdrawn, but it can be used in trading. The maximum bonus amount is $ 500.

 

Support service

Support works 24/5. Despite loud statements from the broker that the specialists help traders in a timely manner at any time of the day, we did not find a phone number for communication. The company offers a feedback form and e-mail boxes.

 

Ways of payment

With WSI, you can deposit or withdraw funds using e-wallets such as Neteller, Fasapay, and bank transfer. This does not offer such a popular method as Visa and MasterCard credit cards.

 

Pros:

 

low deposit; high leverage; demo account.

 

Minuses:

 

does not offer cryptocurrencies for trading; offshore broker.