WiseAlpha Review

WiseAlpha review
WiseAlpha Fees Explained

• WiseAlpha withdrawal fees varies on payment method
• WiseAlpha does charge a fee for inactive accounts.
• WiseAlpha 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 trading fees that you need to be aware of as they may affect your bottom line.

How WiseAlpha Fees Compare Against Other Brokers

Broker	wisealpha	eToro	IC Markets	XTB
Min Deposit	0	200	200	0
Withdrawal Fees	varies	Yes	No	varies
Inactivity Fees		Yes	No	No
Deposit Fees		No	Varies	No
CFD Commission Fees		No	Yes	Yes

WiseAlpha review
WiseAlpha Minimum Deposit

WiseAlpha do not require a minimum desposit when opening a WiseAlpha trading account.

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 trading 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.

WiseAlpha review
WiseAlpha Withdrawal Fees

WiseAlpha 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Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.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, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider.

WiseAlpha for example allow you to withdraw your funds to WiseAlpha,Credit cards, Skrill, Neteller.

WiseAlpha review
WiseAlpha Inactivity Fees

WiseAlpha 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.

WiseAlpha review
WiseAlpha Desposit Fees

WiseAlpha does charge deposit fees.

You must always review deposit fees as 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.

WiseAlpha review
WiseAlpha Commission Fees

WiseAlpha 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.

WiseAlpha review
Trading on WiseAlpha web platforms and other applications

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

WiseAlpha 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.

WiseAlpha review
Is the WiseAlpha Trading Platform Secure?

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

WiseAlpha review
WiseAlpha Trading Platform Options

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

WiseAlpha offer an their own custom trading platform developed and tested in house. The WiseAlpha trading platform allows traders to track their portfolios, track the current markets, locate trade ideas and place trades.

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

With WiseAlpha you can look for and examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the WiseAlpha platform including news and quotes. Discover possible trades with the strong charting tools found with WiseAlpha. WiseAlpha is available as downloadable applications or online through the cloud. Monitor your orders with WiseAlpha and receive breaking news in your positions.

WiseAlpha Trading benefits :

• Low min deposit

WiseAlpha Trading Accounts Offered :

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

• Demo account
• Standard account
• Islamic account

Can I try WiseAlpha before I buy?

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

Your capital is at risk

WiseAlpha withdrawal and funding methods.

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

All available WiseAlpha payment methods available to you can be found in your WiseAlpha members area checked on the WiseAlpha website.

WiseAlpha offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about WiseAlpha

WiseAlpha Payment Methods

• WiseAlpha accepts WiseAlpha
• WiseAlpha accepts Credit cards
• WiseAlpha accepts Skrill
• WiseAlpha accepts Neteller

Broker	wisealpha	eToro	IC Markets	XTB
Bank transfer	No	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

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

How can I start trading with WiseAlpha?

When opening a trading account with WiseAlpha, 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 WiseAlpha trading platforms here. You will need to provide some basic documentation to prove your identity as part of WiseAlpha onboarding and normal KYC identity checks. These checks are standard practice and help WiseAlpha provide a safe financial environment for their 10,000 users.

Your capital is at risk

Performing trades with WiseAlpha

WiseAlpha allow you to execute a minimum of trade of varies. This may vary depending on the account you open. WiseAlpha allow you to execute a maxium trade of varies.

As a market maker, WiseAlpha may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

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

Education resources at WiseAlpha

To trade effectively with WiseAlpha, it's important to get a have a good understanding of the WiseAlpha trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with WiseAlpha and externally.

WiseAlpha offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

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

Take time to look around the WiseAlpha 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 WiseAlpha

As part of our WiseAlpha review we review customer service options, response times and WiseAlpha trading platform problem resolution effectiveness.WiseAlpha support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.

WiseAlpha have a B grade support rating because sometimes the reposonse was slow or our query wasnt answered. WiseAlpha offer email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at WiseAlpha

We tested the WiseAlpha live chat and it works well. We sent messages to WiseAlpha livechat through their app and website and recieved a response within 20 minutes.

We tested communicating with WiseAlpha support in multiple languages in multiple countries. WiseAlpha where able to resolve our customer issues.

Email Support at WiseAlpha

We sent several emails to WiseAlpha and answer times overall were excellent. The fastest response from WiseAlpha was less than 40 minutes and the slowest response was 2 days. Support response times may vary for you with WiseAlpha, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from WiseAlpha.

Phone Support at WiseAlpha

We called WiseAlpha and the call was answered very quickly. The call was answered in less than 5-10 minutes.

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

Overall the phone support from WiseAlpha was average.

See how WiseAlpha Support Compares Against Other Brokers

Broker	wisealpha	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, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian	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 WiseAlpha	Visit eToro	Visit IC Markets	Visit XTB
Risk Warning	Your capital is at risk	67% of retail investor accounts lose money when trading CFDs with this provider.	Losses can exceed deposits	79% 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 WiseAlpha

As WiseAlpha is regulated by Financial Conduct Authority (FCA), 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 WiseAlpha 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 WiseAlpha'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 WiseAlpha you can visit the WiseAlpha 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://www.wisealpha.com/ on February 24, 2021.

WiseAlpha review written by Andrew Blumer and Mark Hansen