WhoTrades Review 2020

WhoTrades Rated 3/5
learn more Learn more about eToro. 71% of retail investor accounts lose money when trading CFDs with this provider.
WhoTrades Review Screenshot

WhoTrades Guide - Read our In Depth WhoTrades Review

This WhoTrades review was written by industry experts with over 20 years of financial experience in Forex, Social Trading.

What is WhoTrades?

WhoTrades are an a global online financial trading platform and multi asset broker founded in 2006

Over 14 years later WhoTrades has grown to offering retail investors Forex trading, and Social trading.

WhoTrades are a global broker and have a head office in Cyprus.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this WhoTrades review and assess how well the WhoTrades platform functions in its role as an international multiple financial asset trading platform for traders in 2020.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like WhoTrades can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of WhoTrades we breakdown the pros and cons. What WhoTrades are able to offer, what countries WhoTrades are available in. Who WhoTrades are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this WhoTrades review useful.

This review of the WhoTrades platform is very detailed. If you are interested in trading with WhoTrades in any capacity please take the time to read and research the whole WhoTrades review.

We have tried to explain the ins and outs of financial trading through the WhoTrades platform as plainly as possible so that you the trader are as informed as possible before you start to use the WhoTrades trading tools and depositing and withdrawing funds from WhoTrades.

Benefits of trading with WhoTrades

Open WhoTrades's Website

Losses can exceed deposits

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with WhoTrades like Forex trading, and Social trading. you should have confidence in WhoTrades and know that the management of your financial investments on the WhoTrades platform is in good hands.

At the bottom of this WhoTrades review you can also learn about some pretty good alternatives to WhoTrades

With this WhoTrades review we hope to help you see if WhoTrades is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding WhoTrades that will help you get off to a good start in the world of online trading.

WhoTrades Review Table of Contents

WhoTrades review
WhoTrades is a Multi-Assets Trading Platform with over 100+ Assets

Learn more about WhoTrades. WhoTrades is a multi asset platform with 100+ tradable Assets. Assets available on WhoTrades include Forex, Social Trading.

WhoTrades trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex, Social Trading are considered financial assets.

WhoTrades review
Features of WhoTrades

WhoTrades review
What you should know

WhoTrades offer two ways to trade: Forex, Social Trading.

With WhoTrades you will need a minimum deposit of $100. You can sign up for a demo account to acquaint yourself with WhoTrades platform.

WhoTrades are able to accommodate various levels of traders whether you are experienced or a beginner.

WhoTrades review
Are WhoTrades safe?

When choosing a broker like WhoTrades the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2006, and in operation for 14 years WhoTrades have a head office in Cyprus.

WhoTrades is regulated. This means WhoTrades are supervised by and is checked for conduct by the Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to WhoTrades, this will be honored. If WhoTrades violate any regulatory rules their regulated status could be stripped.

WhoTrades review
Is my money safe with WhoTrades?

Any payments funded to WhoTrades accounts by traders are held in a segregated bank account.

For added security WhoTrades use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should WhoTrades use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in WhoTrades deposited in a Tier 1 bank?

Having any money you deposit with WhoTrades means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if WhoTrades goes out of business for some reason.

Therefore, we can safely conclude that WhoTrades is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex, Social Trading is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. WhoTrades also clearly state on their platform that Losses can exceed deposits.

Now that we have answered some important questions regrding WhoTrades. let us look at the WhoTrades features in more detail.

Try creating two accounts when you are working with WhoTrades. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit WhoTrades

Losses can exceed deposits

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How WhoTrades as a Company Compare Against Other Brokers

Broker WhoTrades eToro IC Markets XTB
Year Established 2006 2006 2007 2002
Head Office Cyprus Cyprus, UK Australia Poland
Regulation Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG)
Used By 10,000+ WhoTrades users 12,000,000+ eToro users 60,000+ IC Markets users 250,000+ XTB users
Negative balance protection Yes Yes Yes
Guaranteed Stop Loss No No No
Learn More Visit WhoTrades Visit eToro Visit IC Markets Visit XTB
Risk Warning Losses can exceed deposits 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

WhoTrades review
WhoTrades Pros and Cons

What we like about WhoTrades

  • Used by over 10,000 WhoTrades users and traders
  • Established in 2006
  • Regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC)
  • Min. deposit from $100

What we don't like about WhoTrades

WhoTrades review
WhoTrades Regulation and Licensing in more detail

We have checked and WhoTrades is regulated and supervised by reputable organisations. You are able to check every WhoTrades supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with WhoTrades. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect WhoTrades traders and provide a safe trading environment.

WhoTrades is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as WhoTrades you should be sure they're legitimate online agent.

WhoTrades review
Is WhoTrades Global?

Yes, WhoTrades is global as WhoTrades is available in over 194 countries.

WhoTrades is a global trading platform in the sense that it operates in 194 nations including nations in Europe, Asia, Oceania, and Africa. Major countries WhoTrades covers include the UK, Germany, Australia, South Africa, Thailand, the United States and China. WhoTrades has a total of more than 10,000 users.

WhoTrades review
WhoTrades Fees Explained

  • WhoTrades withdrawal fees varies on payment method
  • WhoTrades does charge a fee for inactive accounts.
  • WhoTrades does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How WhoTrades Fees Compare Against Other Brokers

Broker WhoTrades eToro IC Markets XTB
Min Deposit 100 200 200 0
Withdrawal Fees 0.12%- 2% Yes No varies
Inactivity Fees Yes Yes No No
Deposit Fees Varies No Varies No
CFD Commission Fees 5%- 6% No Yes Yes

WhoTrades review
WhoTrades Minimum Deposit

WhoTrades require a minimum desposit of 100 GBP/USD when opening an WhoTrades trading account.

A minimum deposit is the minimum amount of money required by WhoTrades to open a new online brokerage account with them.

Dont be scared off by brokers like WhoTrades charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

WhoTrades review
WhoTrades Withdrawal Fees

WhoTrades withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

WhoTrades for example allow you to withdraw your funds to Credit cards, Bank Transfer, Neteller, Skrill.

WhoTrades review
WhoTrades Inactivity Fees

WhoTrades does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

WhoTrades review
WhoTrades Desposit Fees

WhoTrades does charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

WhoTrades review
WhoTrades Commission Fees

WhoTrades does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

WhoTrades review
What can you trade with WhoTrades?

Be aware that Different entities under WhoTrades Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with WhoTrades over 100 instruments infact.

If you are looking at trading currency pairs WhoTrades offer over 15 currency pairs.

Compare WhoTrades with eToro and IC Markets below.

Losses can exceed deposits

How WhoTrades Trading Options Compare Against Other Brokers

Broker WhoTrades eToro IC Markets XTB
Instruments Available 100 2000 232 4000
Platforms Mac, Mirror Trader, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 15 50 65 50
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes
Exotic Forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 31 19 21
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 957 100 1696
UK Shares No Yes No Yes
US Shares Yes Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares Yes Yes Yes Yes
Risk Warning Visit WhoTrades
Losses can exceed deposits
Visit eToro
71% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit XTB
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

WhoTrades review
Trading on WhoTrades web platforms and other applications

WhoTrades offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

An WhoTrades IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

WhoTrades also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.


See WhoTrades's platforms

WhoTrades review
Is the WhoTrades Trading Platform Secure?

WhoTrades safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. WhoTrades also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating WhoTrades.

WhoTrades review
WhoTrades Trading Platform Options

WhoTrades does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

WhoTrades offer an their own custom trading platform developed and tested in house. The WhoTrades trading platform allows traders to track their portfolios, track the current markets, locate trade ideas and place trades. The WhoTrades platform allows traders to filter the financial marketplace for trade opportunities that match a criteria. With WhoTrades you can look for and examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the WhoTrades platform including news and quotes. Discover possible trades with the strong charting tools found with WhoTrades. WhoTrades is available as downloadable applications or online through the cloud. Monitor your orders with WhoTrades and receive breaking news in your positions.

WhoTrades Trading benefits :

  • Allows hedging
  • Low min deposit

WhoTrades Trading Accounts Offered :

  • Demo account
  • Standard account
  • ECN account

Can I try WhoTrades before I buy?

WhoTrades offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Losses can exceed deposits

WhoTrades withdrawal and funding methods.

Please note that the list of WhoTrades payment methods below depend on the WhoTrades Entity and the Clients Country of Residence.

WhoTrades offer the below funding payment methods. learn more about WhoTrades

WhoTrades Payment Methods

  • WhoTrades accepts Credit cards
  • WhoTrades accepts Bank Transfer
  • WhoTrades accepts Neteller
  • WhoTrades accepts Skrill
Broker WhoTrades eToro IC Markets XTB
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer No Yes No Yes
Neteller Yes Yes Yes Yes

How can I start trading with WhoTrades?

When opening a trading account with WhoTrades, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on WhoTrades trading platforms here.

Losses can exceed deposits

Performing trades with WhoTrades

WhoTrades allow you to execute a minimum of trade of 1 Lot. This may vary depending on the account you open. WhoTrades allow you to execute a maxium trade of 25 lot. As WhoTrades offer ECN execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. ECN accounts will come with a commission and are more favoured by traders who implement high volume strategies, for example scalpers and automated trading.

As with most brokers, margin requirements do vary depending on the instruments.

Education resources at WhoTrades

To trade effectively with WhoTrades, it's important to get a have a good understanding of the WhoTrades trading tools and the markets.

WhoTrades offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with WhoTrades.

Take time to look around the WhoTrades platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at WhoTrades

WhoTrades support a limited number including

WhoTrades have a A grade support rating because WhoTrades offer over three languages.

Livechat Support at WhoTrades

WhoTrades does not offer LiveChat Support.

Email Support at WhoTrades

We sent several emails to WhoTrades and answer times overall were excellent. The fastest response from WhoTrades was less than 40 minutes and the slowest response was 9 hours. Support response times may vary for you with WhoTrades, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall good email support from WhoTrades.

Phone Support at WhoTrades

We called WhoTrades and the call was answered very quickly. The call was answered in less than 5 minutes.

The WhoTrades phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual WhoTrades team by calling in varying languages. WhoTrades made an effort to make sure our queries were answered.

Overall the phone support from WhoTrades was okay.

See how WhoTrades Support Compares Against Other Brokers

Broker WhoTrades eToro IC Markets XTB
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, German, Spanish, French, Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
Learn More Visit WhoTrades Visit eToro Visit IC Markets Visit XTB
Risk Warning Losses can exceed deposits 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with WhoTrades

As WhoTrades is regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under WhoTrades Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore WhoTrades's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with WhoTrades you can visit the WhoTrades trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://whotrades.com on November 25, 2020.

WhoTrades review
Is WhoTrades A Good Broker?

We spent over 3 months examining WhoTrades in depth. Although we found some very useful aspects of the WhoTrades platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative WhoTrades broker.

  • WhoTrades have a good track record of offering Forex, Social Trading.
  • WhoTrades has a history of over 14 years.
  • WhoTrades has a reasonable sized customer support of at least 10.
  • WhoTrades are regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC). This means WhoTrades fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • WhoTrades have regulation from a Tier 1 reputable country.
  • WhoTrades has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • WhoTrades have an international presence in multiple countries. This includes local WhoTrades seminars and training.
  • WhoTrades are able to hire people from various locations in the world who can better communicate in your local language.

WhoTrades Risk Disclaimer

Losses can exceed deposits

WhoTrades review
WhoTrades not quite right?

If after reading this WhoTrades review, WhoTrades does not fulfill your needs check out these WhoTrades Alternatives.

Click here to view the best WhoTrades Alternatives

We have spent years researching the best alternatives to WhoTrades. Click the links below to learn more.

If you feel some of the above WhoTrades are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of WhoTrades alternatives below.

WhoTrades review
Related WhoTrades Vs Comparisons

We have covered allot in this WhoTrades review, If you want to see how WhoTrades compares side by side with other brokers check out our WhoTrades Vs pages.

If you would like to see how WhoTrades stands up against other brokers you can read some of our WhoTrades comparisons below. We compare side by side some of our top rated WhoTrades versus comparisons. Read our indepth WhoTrades VS pages below.

WhoTrades review
WHOTRADES Frequently Asked Questions

Can I try WhoTrades before I buy?

WhoTrades offer a demo account so you can try the WhoTrades platform before you put down a payment. Learn more here

What funding methods do WhoTrades accept?

Please note that the list of payment methods below depend on the WhoTrades Entity and the Clients Country of Residence.

WhoTrades offer the following funding payment methods Credit cards, Bank Transfer, Neteller, Skrill, among other payment methods.
Learn more here

Losses can exceed deposits

Is WhoTrades safe?

WhoTrades are considered safe as they are regulated by and checked for conduct by the Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC). Any payments funded to WhoTrades accounts by traders are held in a segregated bank account. For added security WhoTrades use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is WhoTrades trading good?

WhoTrades is considered good and reputable to trade with WhoTrades. WhoTrades is used by over 10000 active traders and WhoTrades users. WhoTrades offers Forex trading, and Social trading. Minimum deposit with WhoTrades is 100.

Is WhoTrades trading Legit?

WhoTrades was founded in Cyprus in 2006. WhoTrades has been facilitating trade on the financial markets for over 14 years. WhoTrades offers clients Forex trading, and Social trading. All funds deposited to WhoTrades are held in segregated tier 1 bank accounts for security. WhoTrades is regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC) so can be considered legit.

Is WhoTrades a good broker?

WhoTrades is overseen by the top tier financial regulators Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC) so can be considered a good broker. WhoTrades allows Forex trading, and Social trading.

Is WhoTrades trustworthy broker?

WhoTrades can be considered trustworthy. All money funded to WhoTrades is placed into a segregated tier 1 bank account. this means your money in not held by WhoTrades directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also WhoTrades is regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC).

What is the minimum deposit for WhoTrades?

The minimum deposit to trade with WhoTrades is 100.

How long do WhoTrades withdrawals take?

Withdrawing money from WhoTrades processing time varies but averages 2-5 days.

Is WhoTrades regulated?

WhoTrades is regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC).

Is WhoTrades a market maker?

WhoTrades is a market maker. Stocks, currency and other commodities and instruments will be purchased by WhoTrades even if no buyer is lined up.

How can I start trading with WhoTrades?

When opening a trading account with WhoTrades, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on WhoTrades trading platforms here.

Is my money safe with WhoTrades?

WhoTrades is regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC). One of the most important criteria for traders when choosing a broker like WhoTrades is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to WhoTrades, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is WhoTrades a con?

WhoTrades is regulated and well established having been in business for over 14 years. WhoTrades is definitely not a con.

Can you make money with WhoTrades?

Although traders have had great success with WhoTrades. Trading on the financial markets with WhoTrades is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Losses can exceed deposits.

Does WhoTrades have fees?

WhoTrades withdrawal fees varies on payment method. WhoTrades does charge a fee for inactive accounts. WhoTrades does charge deposit fees.

When was WhoTrades founded?

WhoTrades was founded in 2006.

How many people use WhoTrades?

WhoTrades is used by over 10000 registered WhoTrades users.

What is WhoTrades Headquarters country?

WhoTrades has its head quarters office in Cyprus.

Does WhoTrades offer negative balance protection?

WhoTrades does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does WhoTrades offer guaranteed stop loss?

WhoTrades does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does WhoTrades allow scalping?

WhoTrades does not offer scalping.

Does WhoTrades allow hedging?

WhoTrades offers hedging.

Does WhoTrades offer CFD trading?

WhoTrades does not offer CFD trading.

Does WhoTrades offer STP?

WhoTrades does not offer STP trading.

How many people use WhoTrades?

WhoTrades is used by over 10000 WhoTrades users and traders.

Is WhoTrades an ECN broker?

WhoTrades offers ECN trading.

Does WhoTrades offer a demo account?

WhoTrades offers a demo account.

Does WhoTrades offer an Islamic account?

WhoTrades does not offer Islamic accounts.

What are the funding methods for WhoTrades?

WhoTrades accept the following funding methods : Credit cards, Bank Transfer, Neteller, Skrill.

WhoTrades review written by Andrew Blumer and Mark Hansen

We hope you found our review of the WhoTrades brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

WhoTrades review written by Mark Hansen of Comparebrokers.co