WhoTrades Review 2024

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. A currency conversion fee may be applied as withdrawals and deposits from WhoTrades are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.

WhoTrades Costs To Check

Modern brokers like WhoTrades provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, WhoTrades may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall WhoTrades trading profitability.

How WhoTrades Fees Compare Against Other Brokers

WhoTrades Minimum Deposit

WhoTrades requires a minimum deposit of 100 GBP/USD/EUR 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.

Don't be scared off by brokers like WhoTrades charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.

In the trading world, brokers like WhoTrades, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

WhoTrades Withdrawal Fees

The fees for withdrawing funds from your WhoTrades account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your WhoTrades withdrawal request is important.

WhoTrades Withdrawal rules may vary across different brokers when it comes to transferring funds from your WhoTrades or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with WhoTrades may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the WhoTrades withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from WhoTrades. Researching and comparing WhoTrades withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing WhoTrades funds frequently or dealing with large sums of money. Awareness of these WhoTrades fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your WhoTrades funds.

For example, WhoTrades allows you to withdraw your funds to Credit cards, Bank Transfer, Neteller, Skrill.

WhoTrades Inactivity Fees

WhoTrades does charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by WhoTrades terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all WhoTrades fees and services. It's recommended that you check the WhoTrades website before signing up. If you decide to close your WhoTrades account, it's important to do so with the WhoTrades broker customer support and obtain confirmation that no remaining WhoTrades fees are due.

Brokers like WhoTrades must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

WhoTrades Deposit Fees

WhoTrades do charge deposit fees.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

WhoTrades Commission Fees

WhoTrades does charge commission on CFD instruments.

Brokerage firms like WhoTrades may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the WhoTrades trading account level held by the trader.

WhoTrades may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing WhoTrades terms and conditions to understand the commission fees and any other charges that may apply is essential.

WhoTrades review
Trading on WhoTrades web platforms and other applications

WhoTrades provides traders with a modern custom platform that can be accessed through a browser-based web application. If you would rather see a MT4 brokers, or MT5 brokers you can do so here.

A 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 trading apps help you stay on top of your trades and execute them on the go.

See WhoTrades's platforms

Is the WhoTrades Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the WhoTrades trading platform to protect you on PC and mobile WhoTrades platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using WhoTrades web trading platforms.

WhoTrades Trading Platform Options

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

WhoTrades offers its custom trading platform developed and tested in-house. The WhoTrades trading platform allows traders to track their portfolios and the current markets, locate trade ideas and place trades.

The WhoTrades platform allows traders to filter the financial marketplace for trade opportunities that match criteria.

With WhoTrades, you can 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

• WhoTrades Allows hedging
• WhoTrades Low min deposit

WhoTrades Trading Accounts Offered

Below we give an overview of the account types that WhoTrades offer. Whatever you are looking to trade, the varying WhoTrades account types will be able to provide you with what you need.

• WhoTrades Demo account
• WhoTrades Standard account
• WhoTrades ECN account

Can I try WhoTrades?

WhoTrades provides a demo account that enables individuals to explore trading before investing their funds. By creating a WhoTrades practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the WhoTrades demo account can help individuals to make informed decisions before investing their money.

Open a demo WhoTrades account to practice and trade.

Losses can exceed deposits

WhoTrades withdrawal and funding methods

It's essential to remember that the payment methods provided by WhoTrades vary based on the WhoTrades entity and the WhoTrades client's country of residence. To view the WhoTrades payment options available, you can log into your WhoTrades member's area.

WhoTrades offers various funding payment methods listed in your WhoTrades dashboard if available in your region. To learn more about the WhoTrades funding and withdrawal options available in your area, you can explore the WhoTrades website.

WhoTrades provides several payment methods for funding your WhoTrades account. You may utilize any of these deposit options if they are available in your region. WhoTrades ensures that users have multiple payment methods to choose from, making it more convenient for verified WhoTrades account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the WhoTrades user's location. learn more about WhoTrades funding and withdrawal methods.

WhoTrades Payment Methods

Some WhoTrades payment methods are local and are available only to specific regions. WhoTrades account holders should check which payment methods are provided in your region.

• WhoTrades accepts Credit cards
• WhoTrades accepts Bank Transfer
• WhoTrades accepts Neteller
• WhoTrades accepts Skrill

How can I start trading with WhoTrades?

To open a trading account with WhoTrades, individuals can sign up on the WhoTrades website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for WhoTrades account validation and making a deposit. Once completed, WhoTrades users can download the trading platform of their choice.

It's important to note that WhoTrades requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps WhoTrades maintain a trustworthy financial environment for its 10,000 users. Detailed information on the WhoTrades trading platforms is available on their website.

Losses can exceed deposits

Performing trades with WhoTrades

When using WhoTrades, the minimum trade size is typically 1 Lot units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. WhoTrades have a max trade of 25 lot. By offering ECN execution, WhoTrades provides traders with tighter spreads and increased transparency regarding trade pricing. It's worth noting that ECN accounts typically come with a commission fee and tend to be favoured by traders who use high-volume strategies, such as scalpers and those utilizing automated trading.

Like other brokers, WhoTrades margin requirements can differ depending on the traded instrument.

Education Resources at WhoTrades

To trade effectively with WhoTrades, it's important to have a good understanding of the WhoTrades trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with WhoTrades and externally.

WhoTrades . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with WhoTrades. Familiarizing yourself with the WhoTrades trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using WhoTrades. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with WhoTrades involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like WhoTrades, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with WhoTrades. Explore the WhoTrades platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with WhoTrades, before live trading.

Customer Support at WhoTrades

As part of our WhoTrades review, we review customer service options, response times and problem resolution effectiveness on the WhoTrades trading platform. The WhoTrades trading platform supports a limited number of languages which includes .

WhoTrades Available Support Types

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

Livechat Support at WhoTrades

WhoTrades does not offer LiveChat Support.

Email Support at WhoTrades

After testing, we found that the email support provided by WhoTrades was excellent, with a fast response time. We received the fastest response in less than 60 minutes, while the slowest response was in 11 hours. It's important to note that response times may vary based on your experience with WhoTrades, but in our case, we sent 25 emails at varying times.

The support team resolved and answered our queries. Overall, we had a good experience with the email support provided by WhoTrades.

Phone Support at WhoTrades

We contacted WhoTrades via phone, and our call was answered within a reasonable timeframe of 7 minutes.

The WhoTrades phone support team was able to assist us with our queries and issues. We put their multilingual support to the test by speaking to them in various languages, and they were able to communicate effectively.

Overall, while the phone support experience was satisfactory, there is still room for improvement.

See how WhoTrades Support Compares Against Other Brokers

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).

As a new client of WhoTrades, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with WhoTrades in your region. During the WhoTrades account opening process, you will be asked to provide WhoTrades with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with WhoTrades have the following documents available.

• WhoTrades require a scanned colour copy of your passport, driver's license or national ID card.
• A recent utility bill or bank statement that confirms your residential address for WhoTrades compliance. This must be dated within the last six months.
• If you plan to fund your WhoTrades account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the WhoTrades platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under WhoTrades Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring WhoTrades's platform.

However, remember that you won't be able to make trades on WhoTrades until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the WhoTrades KYC compliance process as soon as possible to avoid any delays in accessing the WhoTrades platform's features.

It is important to note that WhoTrades may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the WhoTrades platform and features immediately. However, you must pass the verification process to start live trading with WhoTrades, which can take up to a few business days.

To start the process of opening an account with WhoTrades you can visit the WhoTrades trading platform here.
Losses can exceed deposits
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested 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 investment advice. All information collected from https://whotrades.com on April 23, 2024.

WhoTrades review written by Andrew Blumer and Mark Hansen