WhoTrades Rated 3/5

WhoTrades Guide - Read our In Depth 2024 WhoTrades Review

This detailed WhoTrades review has been researched and fact checked by industry experts with over 30 years of financial experience in Forex, Social Trading.

Learn more about WhoTrades.

Benefits of Trading with WhoTrades

WhoTrades Review 2024 Quick Summary
๐Ÿ’ฐ Min Deposit 100
๐Ÿ‘ฑโ€โ™‚๏ธ Used By 10,000 WhoTrades users and traders
๐Ÿ“† Founded 2006
๐ŸŒ HQ Cyprus
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC)
๐Ÿšซ Excluded Countries WhoTrades is not available in the following countries :

Open WhoTrades's Website

Losses can exceed deposits

Learn more about IC Markets.
learn more Learn more about IC Markets.
Losses can exceed deposits

What is WhoTrades?

WhoTrades are a worldwide financial trading platform and broker. founded in 2006

Over 17 years later WhoTrades now serves over 10,000 retail investors Forex trading, and Social trading.

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

When trading in the financial markets, finding a broker that meets your needs can be very time-consuming.

We will dive deep in this WhoTrades review and assess how well the WhoTrades platform functions in its role as an international multi asset trading platform for traders in 2023.

Visiting many broker websites, all of which have different language uses. Technical language and terminology can be confusing with brokers like WhoTrades. Choosing or shortlisting a trading platform like WhoTrades can be time consuming. Choosing a trading platform requires a significant amount of research and analysis. It can be challenging to understand each platform's various features and benefits, especially with a complex trading platform like WhoTrades.

As a result, selecting the right trading platform like WhoTrades requires a deep understanding of the market, trading strategies, and platform functionality. The task becomes even more daunting when considering the vast number of online brokers like WhoTrades available, each with unique features, fees, and regulations.

In such a complex landscape, finding a reliable and trustworthy broker like WhoTrades requires thorough due diligence and careful consideration. Some WhoTrades trading features can be complex when trading on mobile or using the WhoTrades online trading platform. Beginners and inexperienced traders must take the time to learn how to use the WhoTrades trading tools properly. In our review of WhoTrades we explain the pros and cons. What WhoTrades offer, countries WhoTrades are available in. Who WhoTrades are regulated by and more.

WhoTrades Review Screenshot

When it comes to online trading with brokers like WhoTrades, carefully review WhoTrades as your broker can make or break your success. Choosing the right broker is essential to ensure your WhoTrades investments grow and flourish. However, beware of fake and unreliable brokers lurking in the shadows, waiting to take advantage of unsuspecting traders.

You must be diligent and thorough in your WhoTrades review selection process to safeguard your hard-earned money. It's crucial to do your due diligence and research the reputation, track record and trust worthyness of WhoTrades. You must also ensure the WhoTrades broker's profile, trading tools, fees and regulation aligns with your needs and goals.

Remember, WhoTrades needs to be your partner in your trading journey.

Our team has endeavored to break down the complex world of trading with WhoTrades into easily digestible information in this WhoTrades review. We want to ensure you have all the knowledge necessary to use the WhoTrades trading tools confidently, from depositing and withdrawing funds to executing trades.

We understand that informed decisions with WhoTrades are the key to successful trading, so we've provided this detailed WhoTrades review. So, take a seat, grab a cup of coffee, and dive in to learn about WhoTrades and how it can benefit you or if WhoTrades is not for you.

Online investing with WhoTrades can be just as risky as traditional offline investments. Therefore, conducting thorough research on the company you plan to invest with is crucial. If considering trading financial assets with WhoTrades, evaluating the WhoTrades platform is important. Evaluation includes researching the WhoTrades management team, track record, and services.

As a trader, you should feel confident that your financial investments are in good hands with WhoTrades. That's why it's essential to understand the WhoTrades company policies and practices before making any investment decisions. By doing your due diligence and understanding WhoTrades platform, you can make informed investment choices that align with your financial goals. So take the time to research WhoTrades thoroughly and make the most of your online investing experience.

We aim to provide you with all the information in this WhoTrades review you need to determine if WhoTrades is the right fit for you. But we don't stop there - we also offer valuable insights into other great alternatives to WhoTrades, so you can make a more informed decision and compare other brokers against WhoTrades.

If you want to look at some WhoTrades alternatives that might better fit your needs, we list and compare some of the best WhoTrades alternatives further down this WhoTrades review.

Trading online with WhoTrades requires an understanding of what you are doing. It can be challenging and requires significant research and understanding of the WhoTrades trading tools and features. You must know what you are doing when trading with WhoTrades. That's why we've compiled this detailed WhoTrades review with some important information that will hopefully make you more informed when online trading with WhoTrades.

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. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex, Social Trading are considered financial assets.

Features of WhoTrades

WhoTrades review
What you should know

WhoTrades offer two ways to trade: Forex, Social Trading. The assets and products available to you on the WhoTrades trading platform depends on the region of the world, you are in and the WhoTrades entity you have an account.

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.

Are WhoTrades safe?

When considering WhoTrades for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as WhoTrades, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.

Established in 2006, and in operation for 17 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.

WhoTrades withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like WhoTrades are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. WhoTrades are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of WhoTrades and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. WhoTrades has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, WhoTrades will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like WhoTrades, you can enjoy peace of mind and focus on your trading activities. If WhoTrades violate any regulatory rules their regulated status could be stripped.

Losses can exceed deposits

Is my money safe with WhoTrades?

All payments made to WhoTrades by traders are securely held in a segregated bank account.

WhoTrades uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.

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

WhoTrades partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their WhoTrades clients' funds.

WhoTrades clients can have greater confidence in their financial security when working with a Tier 1 bank because WhoTrades are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.

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

Depositing funds with WhoTrades ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if WhoTrades were to go out of business unexpectedly.

Based on the information presented, it is safe to conclude that WhoTrades is a secure and safe platform.

Please be aware that trading in financial assets with WhoTrades carries a risk of loss. WhoTrades trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex, Social Trading due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.

WhoTrades emphasizes this risk on its platform and provides clear risk warnings - Losses can exceed deposits. After answering some important questions about WhoTrades, let's closely examine its features.

To better understand the WhoTrades trading platform, you can create two separate accounts - one with real money and the other a WhoTrades demo account. A WhoTrades demo account provides a risk-free environment for experimenting with the WhoTrades platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in WhoTrades trading decisions.

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 IC Markets Roboforex eToro
Year Established 2006 2007 2009 2007
Head Office Cyprus Australia Belize Cyprus, UK
Regulation Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076
Used By 10,000+ WhoTrades users 180,000+ IC Markets users 1,000,000+ Roboforex users 30,000,000+ eToro users
Negative balance protection Yes Yes Yes
Guaranteed Stop Loss No No No
Learn More Visit WhoTrades Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Losses can exceed deposits Losses can exceed deposits Losses can exceed deposits 76% of retail investor accounts lose money when trading CFDs with this provider.

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

WhoTrades is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of WhoTrades going into insolvency. WhoTrades compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like WhoTrades to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for WhoTrades traders.

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

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 countries including nations in Africa, Asia, Oceania, and Europe. Major countries WhoTrades covers include the UK, Germany, South Africa, Thailand, the United States China and Australia. 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. 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

Broker WhoTrades IC Markets Roboforex eToro
Min Deposit 100 200 10 50
Withdrawal Fees 0.12%- 2% No Yes Yes
Inactivity Fees Yes No No Yes
Deposit Fees Varies Varies No No
CFD Commission Fees 5%- 6% Yes No Yes

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
What can you trade with WhoTrades?

It's essential to note that the trading instruments offered under the WhoTrades brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the WhoTrades trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.

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

If you want to trade currency pairs on global Forex markets, WhoTrades offer over 15 currency pairs.

WhoTrades Compared To Other Brokers

Compare WhoTrades with IC Markets and Roboforex below.

Losses can exceed deposits

How WhoTrades Trading Options Compare Against Other Brokers

Broker WhoTrades IC Markets Roboforex eToro
Instruments Available 100 2250 100 5000
Platforms Mac, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android MT4, MT5, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 15 61 35 50
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes
Exotic Forex pairs Yes Yes Yes
Cryptocurrencies (availability subject to regulation) No Yes No Yes
Commodity CFDs        
Commodities Offered 0 20 21 31
Metals Yes Yes Yes Yes
Energies Yes Yes No Yes
Agricultural No Yes No Yes
Indiced & Stock CFDs        
Stocks Offered 2100 0 2042
UK Shares No Yes Yes 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 IC Markets
Losses can exceed deposits
Visit Roboforex
Losses can exceed deposits
Visit eToro
76% of retail investor accounts lose money when trading CFDs with this provider.

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
Broker WhoTrades IC Markets Roboforex eToro
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes No Yes
Skrill Yes Yes Yes Yes
Payoneer No No Yes No
Neteller Yes Yes Yes Yes

*please note available WhoTrades and other broker payment methods depend on the clients country of residence.

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

Broker WhoTrades IC Markets Roboforex eToro
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, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian English, German, Spanish, French, Italian
Learn More Visit WhoTrades Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Losses can exceed deposits Losses can exceed deposits Losses can exceed deposits 76% of retail investor accounts lose money when trading CFDs with this provider.

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 November 28, 2023.

Is WhoTrades A Good Broker?

We have spent over 5 years examining WhoTrades in depth. Although we found some very useful aspects of the WhoTrades platform that would be useful to some traders. We feel that a alternative to WhoTrades may better suit you.

  • WhoTrades have a good track record of offering Forex, Social Trading.
  • WhoTrades has a history of over 17 years.
  • WhoTrades has a reasonable sized customer support of at least 10.
  • WhoTrades are regulated by the Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC). WhoTrades is subject to strict regulatory oversight from its respective jurisdiction, which holds WhoTrades (the broker) accountable for misconduct. This regulatory framework helps ensure that WhoTrades operates fairly and transparently and provides WhoTrades customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and WhoTrades.
  • WhoTrades have regulation from reputable regulators.
  • One of the advantages of using WhoTrades is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from WhoTrades are particularly important as WhoTrades traders want to receive their money quickly. With the efficient WhoTrades payment processing system, traders can enjoy faster access to their WhoTrades funds.
  • WhoTrades have an international presence in multiple countries. Including local WhoTrades seminars and training.
  • WhoTrades can hire people from various locations in the world who can better communicate in your local language.

WhoTrades Risk Disclosure

Losses can exceed deposits

Trading Risk Disclaimer

Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.

You will be exposed to a high risk of loss regarding leverage and margin-based trading.

Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.

It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.

Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.

WhoTrades not quite right?

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

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Related WhoTrades Vs Comparisons

Throughout our comprehensive WhoTrades review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.

If you're interested in comparing WhoTrades against other popular brokers in the industry, check out our WhoTrades Vs pages. Our team has compiled a series of detailed WhoTrades comparison articles, pitting the WhoTrades platform against some of the best-rated WhoTrades competitors in the market. Dive into our informative WhoTrades Vs pages below to find out how WhoTrades stacks up against other leading brokers.

WhoTrades review
WHOTRADES Frequently Asked Questions

Read our detailed WhoTrades FAQ Section updated for 2024.

Can I try WhoTrades?

WhoTrades offer a demo account so you can try the WhoTrades platform with virtual trading before you put down a payment. Virtual trading with WhoTrades is zero risk. Learn more here

What funding methods do WhoTrades accept?

Please note that the list of payment methods below depends on the WhoTrades Entity and the client's 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 have over 10,000 users. WhoTrades are considered reliable 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 bank's financial health and strength.Trading with WhoTrades is risky, and because the market is so volatile, losses could happen at any time. Do not invest with WhoTrades unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Losses can exceed deposits

Is WhoTrades trading good?

WhoTrades is considered good and reputable to trade with WhoTrades. WhoTrades is used by over 10,000 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 17 years. WhoTrades offers clients Forex trading, and Social trading. All funds deposited to WhoTrades are held in segregated 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 allows Forex trading, and Social trading. 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.

Is WhoTrades trustworthy broker?

WhoTrades is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to WhoTrades, money is in a segregated bank account that is separate from WhoTrades company's funds. As a regulated broker, WhoTrades cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by WhoTrades. Instead, your WhoTrades funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with WhoTrades. Also WhoTrades is regulated in its local jurisdictions including major financial regulators like 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 depending on the method but averages 1-5 days.

Is WhoTrades regulated?

WhoTrades is regulated by the Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC). Regulatory bodies conduct regular reviews and audits as part of WhoTrades maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is WhoTrades a market maker?

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

How can I start trading with WhoTrades?

When opening a trading account with WhoTrades, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on WhoTrades trading platforms, you can follow the link provided below: Learn more about signing up with the WhoTrades trading platform here. This will provide useful information and insights into the various trading platforms offered by WhoTrades, enabling you to make an informed decision about which platform to choose for your trading needs.

Is my money safe with WhoTrades?

Yes your money is safe with WhoTrades.

Overall, strict financial regulation is essential for ensuring that trading platforms like WhoTrades operate fairly, transparently, and responsibly, which ultimately benefits all WhoTrades stakeholders involved.

Trading platforms like WhoTrades must have strict financial regulation for several reasons:

  • Protecting WhoTrades Investors: Strict financial regulation ensures that investors who use the WhoTrades trading platform are protected against fraudulent or unethical behavior by the WhoTrades platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the WhoTrades platform.
  • Maintaining WhoTrades Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the WhoTrades trading platform. Regulatory procedures reduce the likelihood of the WhoTrades platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
  • Enhancing WhoTrades Transparency: Regulations require trading platforms like WhoTrades to maintain detailed records and disclose WhoTrades client information. Financial regulatory requirements enhances transparency and helps to build trust between the WhoTrades platform and its investors.

WhoTrades is regulated by the Cyprus Securities and Exchange Commission (CySEC), Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC). When selecting a broker such as WhoTrades, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, WhoTrades ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like WhoTrades.

Is WhoTrades a con?

WhoTrades is regulated and well established, having been in business for over 17 years. WhoTrades is 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 vary on payment method.WhoTrades does charge a fee for inactive accounts. WhoTrades do charge deposit fees.

When was WhoTrades founded?

WhoTrades was founded in 2006.

How many people use WhoTrades?

WhoTrades is used by over 10,000 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, 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 guaranteed 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?

Please note that funding methods and options available with WhoTrades can be found in the WhoTrades Members area and depend on the WhoTrades clientโ€™s country of residence. Please check your specific available payment methods on the WhoTrades website. 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 editors, 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 of experience in financial analysis, forecasting, and financial modelling, identifying new market opportunities in Stocks, CFDs, 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