WiseTrader

Trading Platform

Instead of featuring the ever popular MetaTrader 4 platform or other popular trading platforms, WiseTrader features their very own proprietary web-based trading platform. This approach makes financial trading easy and accessible to all traders from multiple devices. The platform is very well designed and intuitively incorporates numerous advanced tools and features. While the platform incorporates many advanced features, it is still easy to use and navigate as the interface is well laid out. Some of the advanced features include an array of charting tools and technical indicators which allow traders to easily spot market trends and an assets volatility and such. Both beginner and advanced traders will find this platform to be more than sufficient for their needs as it’s simple yet intricate and rich with features if you desire to use them. Also, this web-based platform is mobile friendly and optimized for mobile web browsers. Therefore, traders can make important decisions and manage their portfolio while on the go.

Exchange Markets

Traders have access to a wide selection of CFD instruments across Forex, Commodities, Indices, Stocks, and Cryptocurrencies. In total there are over 180 top-class assets available to trade with leverage of up to 1:400 and competitive spreads. See below an overview of each asset class.

Forex Trading

• 45 tradeable currency pairs and crosses
• Spread as low as 0 pips
• Leverage of up to 1:400

Cryptocurrencies

• 3 top cryptocurrencies (Bitcoin BTC, Ethereum ETH, Ripple XRP)
• Leverage of up to 1:5
• Various spreads for each cryptocurrency asset

Indices

• 5 equity indices from the United States, European Union, and the United Kingdom
• Spreads as low as 0.9 pips
• Leverage of up to 1:100

Commodities

• 5 commodities (Gold, Oil, Brent, Silver, Coffee)
• Various spreads from as low as 0.05 pips
• Leverage of up to 1:100

Stocks

• 94 individual stocks
• Blue chip company stocks
• Mostly U.S. market stocks

Fees and Commission

An unfortunate aspect of WiseTrader is their lack of transparency regarding their fee structure. Fees are not made known on the website and it is not clear whether they are primarily charged through spreads or commissions. However, we assume it’s a combination of both in some cases as spreads can be both high or low depending on the financial asset being traded. Upon reviewing this broker, users have reported the spreads and fees to be rather high compared with the competition. Therefore, we urge each user to contact WiseTrader prior to trading in order to establish the details regarding commissions, fees, and spreads.

Security and Fairness

WiseTrader is a very safe and secure online trading brokerage as they are regulated by the Cyprus Securities & Exchange Commission (CySEC). Clients funds are held in segregated accounts and transactions are protected by 256-bit Rapid SSL encryption. The brokerages servers are Level-1 PCI-Certified and located in SAS-70 data centers. As for WiseTrader fairness, the brokerage offers clients 4 different account types, each with access to all the necessary features on would expect. Higher level account types require larger deposits but are rewarded with premium aspects. Every client is required to register their account with identification information.

Support

Customer support can be reached 24 hours a day, 5 days a week from Monday – Saturday. The support options available include email, live chat and telephone. Support representatives are friendly and professional and fairly quick with their responses. Other methods of support include communication through the brokerages social media channels such as Facebook, Twitter, LinkedIn. YouTube, and Google+. Also, traders can find support from WiseTrader’s trading academy. Here traders have access to numerous news articles, eBooks, videos, chart analysis, and calculators. While this academy is not nearly as rich as some other educational centers we’ve seen, it can still be helpful to some traders.

Conclusion

WiseTrader has many attractive features and aspects that separate it from other trading brokerages, but there are also some prominent downsides as well. The web-based trading platform is very well designed but lacks the familiarity that many forex and CFD traders are used to. WiseTrader is not transparent with fees and the information that is available implies that they have very high fixed spreads. The brokerage does feature an impressive amount of tradeable assets, but then again, other trading brokerages often offer even more selection. WiseTrader is a great trading brokerage for traders looking for a simple and easy to use web-based trading platform, but do not care for some of the more advanced and prominent features other brokerages have.

WiseTrader FAQ

The following are the common questions that customers inquired about WiseTrader.

Is WiseTrader regulated?

Yes, it is regulated by the Cyprus Securities & Exchange Commission (CySEC)

Is WiseTrader a scam?

No, WiseTrader is a legit broker and it’s licensed and regulated in Cyprus.

Where is WiseTrader based?

WiseTrader’s main office is based at 1 Ayias Zonis & Thessalonikis Street, Nicolaou Pentadromos Center, Office 908 A & B, 9th Floor, CY-3302 Limassol, Cyprus

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