Tradedwell Review: Best Broker for Trading 2021
The broken TradedWell was founded in 2020 and is a subsidiary of the parent firm iTrade Global. The parent firm is regulated by CySEC.
The broker offers access to more than 170 tradable assets that include cryptocurrencies and exotic forex pairs. All of these assets can be easily traded with the best inherent platform support that the broker provides. The web-based trading platform and the presence of the MetaTrader 4 make it easy for traders to trade effortlessly.
The clients have an option to choose from three different trading accounts. Apart from these, there is a free demo account that the broker provides. All of these accounts have a dedicated account manager.
The broker also offers great education and research material that includes on-demand videos, EBooks, and courses to learn the complexities of trading. There is nothing charged while withdrawing or depositing the funds but the broker does ask for a withdrawal fee in some cases. Traders also have to pay an inactivity fee in the case of no activity for 60 days.
Scam or Safe:
The broker looks like it is not a scam and is completely safe and legitimate. The parent firm of the broker is completely regulated; the broker is equipped with a good trading platform. The presence of a regulatory authority and a legitimate platform makes the broker legitimate and safe to trade with.
Three different account types are offered by the broker, and apart from those, a demo account and an Islamic trading account is also offered by the broker. Each account is equipped with an economic calendar, and they are compatible with the best trading platforms. For the traders who need to start trading, TradedWell is just the broker for them. The trading servers and the official website of the broker are good enough to tell that the broker is good enough.
Let us read about all of these accounts in detail.
A demo account is used by traders so that they can understand the market without the use of real money. Everything in a demo account is real except the money that is used to make the bets. The market, the situations that a stock is subject to, everything is real in there
except the money. It is not money that the traders can use to make the best of their trading abilities.
Islamic Trading Account:
Holders of this account don’t have to pay any interest, and they don’t receive any of it as well. This account is created to keep the traders at par with the sharia laws of trading. Apart from not having to pay any interest, the holders of this account also enjoy very little delay in their transactions.
Platinum, Silver, and Gold accounts:
These accounts are differentiated on the basis of the services they provide to the associated customers. For the retail investor accounts of all three variations, the broker offers a leverage of 1:30. The leverage for the professional account is kept at 1:400. The accounts can be used for hedging purposes and have a dedicated accounts manager. The maximum leverage offered by the broker is 1:400.
The Platinum and gold accounts offer a VPS service free of cost, while the silver account is exempted from any such service. When it comes to the swap discount, the platinum account is subject to 25%, and the gold account is subject to 50%.
The broker provides WebTrader and MetaTrader4 as the primary trading application to its customers. These can be downloaded from the App Store or the iOS store, respectively. MT4 is the best trading platform, and that lineage is known to be best suited for traders around the world.
The trading software is one of the most important assets for a trader, and the trusted trading signals play an important role as well.
Stocks like bitcoin and a few more stocks are volatile more than they should be, and in such cases, a trusted broker with good automated trading strategies comes into play. The trading tools have to be in place for a trading application to be in play, and that is the best thing about the broker TradedWell.
The broker offers more than 170 tradable assets, and all of those assets can be trade via CFDs. The list of the assets is long, and it includes the best assets like forex pairs and cryptocurrencies, to name a few.
It has to be kept in mind that there is a big chance of losing money when trading CFDs. The CFD broker has no role in deciding the fate of the trade. To trade CFDs, a trader needs good experience to understand the market.
To open an account with the broker, the trader can visit the website of the broker, and after that, all they have to do is to click on the account types and then open the account of their desired choice.
The trader should also do some sort of research before opening an account with any broker. The aim of doing research is not to understand the broker but to understand the market and which broker can suffice the needs in the best possible manner.
After the traders have chosen the account type they need, they are needed to answer a questionnaire that is kept there to test their trading knowledge. The broker also asks for specific details like proof of identity and address proof. Traders are also asked to provide proof of residence in the country.
Commission and fee:
The broker does not ask for any commission per trade from the traders. The earnings of the broker come from the spreads that are variable for each asset and each account type. There is an inactivity fee for the trader that has to be given in the case of inactivity. The fee differs on the basis of different levels of inactivity. The maximum that the broker asks in terms of inactivity fee is EUR 500.
The platinum account holders have to pay the least spread, and the silver account users have to pay the maximum spread.
Deposit and withdrawal:
The movement of funds happens within three business days, and the trader needs to put up a withdrawal request with the broker first, in advance. The broker offers a lot of different varieties to withdraw funds, and that includes services like Neteller, Skrill to name a few. The broker claims that the deposits can be managed instantly, but sometimes the time frame depends on the banks that are involved in the whole process.
The withdrawals are processed only on business days. Any request made after 07:00 GMT will be settled on the same day, and any request made after that will be settled on the next business day. Any withdrawal request that exceeds a hundred euros requires an extra fee that has to be paid to the broker. The broker informs the traders in advance about this. There is no extra withdrawal fee that the broker asks from the trader.
The leverage offered is different for each account. The platinum account holders are exposed to maximum leverage of 1:500. At the same time, the silver account holders are given the least leverage given that the holders of these accounts are mostly novice traders and should not be exposed to a lot of leverage.
It has to be kept in mind that leverage is a two-way street. It can harm the trader, and it can also multiple the account balance of the trader as well. It is generally not advised for novice traders to use this account.
Education and Research Material:
The broker offers good content in terms of education and research. The material is top-notch and can be accessed by anyone who visits the website of the broker. While most brokers are inclined to increase their customer base and make sure that the visitor is first converted into a lead, the broker TradedWell gives free education.
The content comprises things like on-demand videos, economic calendars, and a lot more. The education material is important for beginner traders as well as professional traders because education does not stop. With such a low minimum deposit, the broker really does not ask for much. The trading app of the broker is also full of educational material. Crypto trading is also TradedWell regulated, and traders can do that with the help of well-designed desktop trading software.
The broker is the correct broker for you, being regulated by the Cyprus Securities and exchange. IT is considered the best for CFD trading. Being the best forex broker, TradedWell ensures that the traders make the best use of trading instruments.
It can be thought of as a reliable broker providing account segregation. Although traders lose money when trading, the broker makes sure that it does not happen. By mitigating the risks involved, the traders can make money even while sitting in their houses with the help of the mobile app. It is a completely regulated broker.
This can be cross-checked with the license number that is provided on the website of the broker.