On-line since: About company: TradeWiseFX was established relatively recently, in 2015. However, its trading conditions have attracted traders’ attention. Being registered in Saint Vincent and the Grenadines, Tradewise Ltd owns the brand. TradeWiseFX is a STP/ECN brokerage company which offers its services to clients from more than 50 countries. Instruments for trading are currency pairs, metals, oil and natural gas futures, and CFDs. The company has three types of trading accounts. ECN Pro account offers variable spreads, a minimum spread for the EUR/USD pair is 0.1 pips. A minimum deposit is $25. This account type requires a €$2 commission per Forex lot, €$0.35 per CFD lot, €$5 per metal lot. Scalping, hedging, automated advisors are permitted. The size of leverage depends on the trading instrument, 1:500 for currencies and metals, 1:300 for CFDs. There are about 60 currency pairs. The level of the Stop out is 100%. Classic account offers traders similar trading conditions and possibilities, i.e. variable spreads, however, they are higher than on ECN Pro account, from 1.6 pips. Moreover, the commission is not charged. The size of the leverage and the minimum deposit are the same. The third account, Autotrade, allows clients to trade using their own and automated strategies. The deposit is $1,000. Spreads start from 2 pips. The commission is not charged. Moreover, clients may get access to swap-free accounts, PAMM/MAM accounts. If a trader replenishes a deposit with $5,000, free VPS hosting is at their disposal. Trading is conducted through the MetaTrader 4 platform. It is the most popular among brokers and traders. MetaTrader 4 has the possibility to draw charts, and includes more than 30 signals and many other useful features. The platform is compatible with Windows. Besides, it can be downloaded for Android and iOS. Support service is available via phone and email, there is FAQs section on the website. The news section contains information about current fluctuations in the forex market. The website is available in English language. One may deposit an account by wire transfers, credit cards, and electronic payment systems. The brokerage company accepts USD and EUR. There are promotional campaigns. According to one of them, a trader receives $50 for every new referred client. There is 50% bonus, but funds may be withdrawn if a trader fulfills particular conditions. Read the latest reviews about TradeWiseFX in the Commentary section.
3/10
(votes 2188)
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TradeWiseFX is one of the worse brokers according to my trading experience. Their platform freezing, execution is very slow, orders rejection and huge spreads. They do not let their customers withdraw their money more than $200. The client supports find excuses to delay the withdrawal.
TradeWiseFX isn't safe for investments or trading. As their platform has many lucking and their spread goes higher in news time. So my orders aren't profitable, while it hit TP, as orders didn't close. Till now I have lost almost $230 in their classic account. Now I am disappointed with TradeWiseFX and have withdrawn the rest invest through the Skrill account. So they banned my account so far.
I decided to open a micro account with them because the margin level sounds good as well as the spreads. For instance, today I decided to exit my trading positions for XAU/USD and NZD/USD at a competitive price. I have made $700 on the platform, recently, 5 weeks ago I made a withdrawal of $500 out of my money through wire transfer with no delay or issue. I recommend this broker.
I recently opened an account at TradeWiseFX and my experience is undeniably amazing. I get to trade even during news announcements because the platform could handle any volatility. I am also able to scalp because of the narrow spread.
Recently, I tried their third account with an initial deposit of $2000, and it's very interesting, because I can use my own but sometimes I use automated strategies. I get a fast service with executions that carried out as soon as possible. All of my trades have been executed as expected.
I am very disappointed with TradeWiseFX. Actually I am news trader. I executed around 25 news trades with them in 4 months and all are worst slipped by more than 40 pips. But last UK GDP news got 110 pips slippage on my USD/GBP pair. They also increase their spreads on new time. I have experience 7-8 pips spreads on news time. Their trading environment is not for me. I may not go far with this broker!
I think the bonuses they offer are just a trap. No bonus appeared on my newly opened account. My trading results are always disappointing. I have never made a profit, only a deficit. My money will only continue to decrease every time I trade. They also didn't give me a solution at all. It's very difficult to reach them when it's difficult. They are only enthusiastic if anyone wants to deposit it. The rest they will not care what happens with customer trading.
I decided to join trading in Trade Wise Fx because they don't set a minimum account size and their spread is fixed at 2 pips. For over 9 month of trading, Trade Wise Fx is the worst broker with stable trading program. But I was having a hard-time to deal with their operator and support team, since I use their new platform. Its freezing all the time and there are many requotes. I have lost almost $600 during this issue on the platform. I hope they stop cheat traders.
First impression I know this broker, they are not available whenever I got loss. They could not be contacted.
They have cancelled my orders with no reasons. I got $700 profit but I couldn't withdraw my profit.
it seems they are total fraud and I wasted my hard-earned money. I just want to advice you, don't choose this broker.
They will run your money.
TradeWiseFX isn't safe for invests or trading. As their platform has many lucking and their spread goes higher in news time. So my orders aren't profitable, while it hit TP, as orders didn't close. Till now I have lost almost $230 in their classic account. Now I am disappointed with TradeWiseFX and withdrawn my rest invest through Skrill account. So they banned my account so far.
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