Forex Web Trader

Forex Web Trader Platform Review


Score: 2 / 10 Forex Web Trader		Forex Web Trader Sign Up Bonus $2000 FREE (10%)
Summary Avoid. Forex Web Trader began reading in 2003, and it offers one of the largest selections of currency pairs on the market. But we struggle to find anyone to speak to at this broker. They are incommunicado. The batteries have run out on their walkie talkies. Their phones are on silent mode. (You get the drift). Web Forex Trader also has a MT4 platform and phone trading, giving you a range of platforms to open and close positions. Gearing is up to 200x.

What’s Good		Room For Improvement
Web Trading Platform (no download) One click trading if you set it Set a profit target when your position hits a fixed price Set a Stop loss to close positions if the market moves against your position Set trailing stops that dynamically move your order in your favour until the market checks back All major Forex currency pairs available- save your favourites in the Price panel- add or remove instruments from the Price panel by clicking the Favorites icon Spreads Spreads from 3 pips (for EURUSD, EURCHF, EURGBP, USDJPY). All other pairs offered on competitive trading spreads with no additional charges, ticket fees or commissions. Daily analysis 24-Hour trading and support Trade immediately by credit card, PayPal, Moneybookers, Neteller or WebMoney. Start trading forex with as little as $25 to $50,000 (or €) 200:1 leverage (0.5% margin) Trade with a Euro or US Dollar trading account		A reply to an email would be good Charts could be improved You must withdraw using the same payment mechanism as you made the withdrawal As far as we could make out, there was no option of testing the system out with a free “play” account. When you sign up, you need to make an initial deposit to get a username and password There was a choice of 2 platforms, Web Trader2 and WebFX- but the only one that accepted our username & password was the WebFX platform As far as we can make out, you can´t change the gearing on your trades. They offer a gearing of 100 (margin of 1%)

Review Forex Web Trader has been around a while (since 2003), and while that is no indication of quality, it does gove you some confidence that it is not a fly by night scheme. The platform is pretty good (although the charting could be improved), and you can start trading with as little as $25, making this a good place for beginners. (There´s a practice area as well where you can practise your trades with virtual money). If they’d only answer your emails! We found it a bit confusing that you are given the choice of 2 platforms when you first log in: Webtrader2 (which didn´t accept our password) and their new platform WebFX (which did) ForexWebTrader offers spreads from 3 pips on the major currency pairs, and a range of platforms- the web of course (no download needed), the phone and on your mobile. When you open and fund a new account, you are eligible for a bonus up to $2000. 10% Bonus on Your First Deposit For new customers who deposited between $25 and $50,000. There is a maximum bonus of $500 given to any customer. You can withdraw the bonus only after making trades of more than 5000 x the initial deposit value + bonus (for example: $100 + $50 = 150 x 5000 including leverage trading). Main Features: One Click Trading Open and close positions instantly if enabled. The feauture will be disabled after each trade as a safety precaution to prevent you trading by mistake. Trailing Stops Allows you to automatically adjust the level of your stop loss so that the stop is always a pre-set amount from the last best market price. Trailing stops dynamically move your order in your favour until the market checks back. Orders ForexWebTrader allows you to open positions using various different trade orders: Market Trade – Buy/sell the currency at the market price Entry Order – Opens a trade at future price you specify. Entry Stop – Buy/sell at a less favorable price Entry Limit – Buy/sell at a more favorable price. Market Order – Buy/sell at earliest Market Price (used while the market is closed.) Forex Web Trader

Gearing		200
Currency Pairs		155
Regulator		ForexWebTrader is owned and operated by Safecap Investments Ltd., a Financial Services Company authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under license no. 092/08.
Address, telephone		ForexWebTrader Treppides Tower, 6th Floor Kafkasou 9, Aglantzia P.O.Box 26522 CY 2112, Nicosia, CyprusTel.: +49-211-687887-0 Fax: +49-211-687887-22