- Broker Score
Here at Free Forex Robot we offer reviews of popular and upcoming trading platforms. Today we are writing a TradeFW review for your reading pleasure.
When you wish to start trading in the cryptocurrency or forex market, the first thing you need to look for is a reliable and trustworthy broker. How else will you conduct your trades? This is where TradeFW comes in. This is a new European brokerage that was established in May 2018. It is owned by ITRADE GLOBAL Limited, which is licensed and authorizes by CySEC (Cyprus Securities and Exchange Commission) and is located in Limassol, Cyprus. Another important thing to know about TradeFW is that it is MiFID (Markets in Financial Instruments Directive) compliant, which makes them even more secure.
Both new and experienced traders will find TradeFW to be a comprehensive platform because it provides them access to a sophisticated set of trading tools and it is also quite user-friendly, which adds to its appeal. Not only that, but it also boasts a stellar education center and various other features that are required by traders during their trading journey. No matter what market you wish to trade in, TradeFW is ready to fulfill your needs and can provide you with everything you need to do it right.
Unique Features of TradeFW
There are two types of accounts that are offered to traders when they are ready to sign up at TradeFW. The first account option is ECN Standard, which is aimed at those who are just starting off in the market and you need a minimum deposit of $250 for this purpose. The second account type is ECN VIP, which is designed for those who are experienced in the market so it requires a minimum deposit of $10,000. Each of these account types come with different perks that are tailored for meeting the needs of those who use them.
You can use the TradeFW platform for trading in a variety of markets. The platform is equipped to help you in dealing with the world’s most liquid and largest market i.e. the forex market. Over 45 pairs can be traded and some of them are very exotic currencies such as Singapore Dollar, South African Rand, Swedish Krona, Polish Zloty, Norwegian Krone, Turkish Lira and Hungarian Forint.
TradeFW can also be used for dealing with CFDs (Contract for Difference) for trading in the movements of financial products. If you want, you can also choose to trade indices or commodities through TradeFW.
Spreads and Leverage
No matter what account type you have chosen on TradeFW, you can enjoy leverage of about 1:100 and this is perfectly sufficient for suiting all kinds of trading strategy. The high leverage means that traders have the opportunity of enjoying huge returns on their investment. As far as spreads are concerned, the standard account can offer you really tight spreads and they start as low as 3.2 pips whereas the VIP account offers you spreads as low as 1.7 pips.
TradeFW has opted to use the industry favorite MetaTrader4 as their interface. It is considered a standard where professional brokers are concerned and is one of the most widely used platforms due to its efficiency. At TradeFW, you can take advantage of all versions of MT4, which includes the desktop version as well as mobile apps that support both iOS and Android smartphones. The clean and simplistic interface enables traders to back-test their strategies and also customize it with auto trading systems or the latest indicators. There are also interactive customizable charts available.
Deposits and Withdrawals
When it comes to funding, TradeFW has ensured that it is as easy as possible for all traders out there. You can choose to make a deposit by credit card, an online payment service, wire transfer and numerous other direct wire transfer services. The platform provides support for Visa, Maestro and MasterCard and they are processed instantly. It takes longer for bank wire transfers like between three to five days. Other wire transfer services don’t take more than 1 to 2 days for the transaction to be complete. No fee or commission is charged for deposits by TradeFW.
Moving onto withdrawals, the same methods are available like deposits. So, you can use your debit or credit cards, bank wire transfer or other online transfer services. The good news is that processing is completed on the same business day, which makes it incredibly convenient.
Beginner Support and Educational Material
TradeFW believes that education is of the utmost importance no matter which market you wish to trade in. Therefore, they have ensured that their website provides plenty of in-depth material that can be used by traders for polishing their skills and adding to their knowledge. These can then be implemented during trading and can help in reaping higher profits. Fresh traders also find the information useful and can put it to good use. There is also daily analysis and the latest news available, which can be helpful in conducting trades.
Pros and Cons
There is no shortage of benefits when you are using TradeFW for investing in the market. Their customer support is definitely impressive as they ensure you can seek help 24/5 through phone and email. They have a team of experts that’s ready to assistance you whenever you want and this can aid you in conducting trades with ease.
A secure and safe environment is what every trader needs and this is exactly what TradeFW is able to deliver. Stringent encryption software is used by the platform for securing all financial and personal information. These measures include HTTPS secure web protocols and SSL encryption for ensuring that traders have the security they need for investing with confidence. Also, since the platform is regulated, you don’t have to worry about losing your funds as they are kept segregated from those of TradeFW.
The platform offers a great education academy, impeccable customer support, excellent security, a smooth trading experience and a variety of deposit and withdrawal methods allow TradeFW to hit all the right spots. They have ensured transparency and follow all regulations to assure their clients that they can trade securely and successfully.