How safe is trading with TradeFW.com? Is it customer friendly and easy to use or does it make you jump through hoops? Check out our TradeFW.com review to find out!
Overview of TradeFW.com
TradeFW is an online Forex broker owned by ITRADE GLOBAL (CY) LIMITED, located in Limassol, Cyprus. What everyone wants to know is: how safe is it? One of the first things we see on their webpage is that they are licensed by CySec (Cyprus Securities and Exchange Commission) and they are MiFID (Markets in Financial Instruments Directive) compliant, so they are definitely off to a good start.
The products they offer are everything a trader should expect from an international broker, as you can easily trade CFDs, Forex, Indices and Commodities under the same platform. They also stand out with a rich, fully interactive academy that is very useful for new and experienced traders alike, as well as 24/5 customer support.
The website is available in English, Arabic and German, and it addresses to non – US customers only.
Account types and deposit options from TradeFW.com
TradeFW offers only 2 account types: Standard account and Shares account. The Standard account offers tight spreads as low as 0.6 pips, up to 200:1 leverage on currency pairs and daily analysis to keep your knowledge up to date. The Shares account offers a wider array of CFD products, low spreads and up to 100:1 leverage on select CFDs.
Both account types offer educational materials, 24/5 dedicated multi-lingual live support and have negative balance protection. The interesting part is that both require a minimum deposit of 250 of your currency of choice (EUR/USD/GBP/AUD/CAD/SGD), suggesting that they don’t want to split their accounts based on “beginner” and “advanced” trading, but rather based on your own preferences and practices.
The minimum deposit range seems like a middle ground choice, with most brokers requiring deposits from $50 to $500 or even more, encouraging users to trade wisely without drying out all the savings at once.
Platform at TradeFW.com
Another pleasant surprise is the choice of the web-based trading platform. Using internationally accepted security protocols like SSL (Secure Sockets Layer) through HTTPS that encrypts all the sensitive information as well as credit card payments, it’s a safe bet to say that TradeFW offers great security with an even greater ease of use. Being able to trade safely from anywhere with an internet connection is a commendable feature for any broker!
Customer support service from TradeFW.com
No trader is a big fan of being constantly spammed by brokers, and TradeFW knows that. That’s why they offer the option to opt in and out easily from any of their email services. As for their support services, we don’t know if there’s anything you could want or need more than 24 hours per day, 5 days per week, dedicated multi-lingual live support. It’s just another solid benefit for all traders that choose TradeFW as their broker.
The safety of your capital with TradeFW.com
Transparency is the key when operating with any broker and TradeFW is aware of that. All the information you need is located in the top menu of their website under Legal Documentation, and we strongly recommend to all users to read it, as we do with all brokers. In case you want a quick overview, you can also take a look at their FAQ section which is also quite extensive and answers most of the questions we had about this broker.
Advantages of TradeFW.com
A CySEC regulated, MiFid compliant, secure environment that operates on transparency and user satisfaction. This is our take on TradeFW’s business model, one that hits all the right spots with advanced traders while maintaining an attractive ease of use for their platform and products. Impeccable customer support, a great education academy and a whole range of products are qualities that all traders desire and all brokers should strive to achieve. TradeFW has all of them we must say that it’s not reluctant to show it.
Disadvantages of TradeFW.com
We each learn sooner rather than later that nothing is perfect, and you won’t be surprised to find out that TradeFW is not an exception. The minimum deposit of $250, paired with a lack of demo accounts, could turn off some potential traders. It’s not a big disadvantage, but more skeptical traders will shy away from this. It’s not a deal-breaker though, as those who try it will find all other features most welcomed.
Another minor setback is the amount of account types. Some would argue that 2 account types is not enough, and that may be true for seasoned traders that want everything split and categorized in its own place. We believe that for what TradeFW offers, 2 account types are sufficient and get the job done.
Gem or scam?
TradeFW is a very pleasant surprise in this overcrowded market. We rarely find such a balanced broker that puts security and customers’ satisfaction at the forefront of their business model, while not skipping out on features and products. Also, considering all their security and regulation, it’s clearly a gem. We definitely recommend checking them out!