TradeFW Review – Know What you are Getting Into

Do you want to give your income a boost? Wouldn’t it be great if you could earn a few thousand dollars extra without exhausting yourself and do it quickly? Such opportunities are not exactly easy to find where you can make high yet quick returns and not have to dedicate most of your time to it. The good news is that the world has changed significantly in the last few days. Technology has opened a lot of doors for people that had been otherwise closed for them. You can find plenty of opportunities online when you wish to make money and one of these is none other than online trading.

Even if you have not traded before, there is a good chance that you have heard about it. Almost everyone is familiar with the forex market or the stock market and you know that people make big amounts of money through them. There was a time when you had to have copious amounts of money to invest and needed a lot of education, knowledge and experience to even think about venturing into this world. But, as mentioned above, things have changed a lot since then. The trading markets have also expanded and include a ton of financial instruments.

Moreover, the internet and technology have made them a lot more accessible than they once were by eliminating most of the barriers to entry that existed. Gone are the days when you needed a hefty capital or prior knowledge and experience. These days, you could be anywhere and anyone and be able to dip your toes into the trading world without anyone stopping you. It gives you the flexibility to trade when you want and how you want and decide how much you wish to invest. There is only one thing that you had to do back and then and still do today; find a broker.

They are a vital part of the trading world because they are responsible for providing you the platform, the instruments and the tools required. The good news is that these brokers are not very hard to find. There are plenty of them offering their services online and you can easily find various options when you do a Google search. One of these is European CFD (Contract for Difference) broker, TradeFW. Founded in 2018, it is owned and operated by iTrade Global (CY) Ltd. and is located in Limassol, Cyprus. It accommodates global traders and offers its website in various languages, including Swedish, Italian, English, Russian, Spanish, Dutch and German.

Nonetheless, before you sign up with TradeFW, you need to know exactly what you are getting into and decide if it will be the right fit or not. To do that, you need to know what they are offering. Let’s do that below:

  • Regulation status

One of the most important things that any trader needs to know about the brokerage is their regulation status. A company that’s regulated has to follow a certain set of rules and guidelines for providing its services. They have to maintain their services according to a standard, which means they are fair and transparent. However, not all trading platforms in the market are regulated, which can often create a problem for traders. When it comes to TradeFW, you will be pleased to know that it is a regulated company and falls under the jurisdiction of the Cyprus Securities and Exchange Commission (CySEC), one of the most reputable regulatory authorities in the world.

As a matter of fact, TradeFW is also compliant with the MIFID II (Markets in Financial Instruments Directive) rules that are aimed at ensuring efficiency, transparency and consumer protection. Due to these regulations, they follow the standards of customer account segregation, where customer funds are kept in separate accounts with renowned banks and are only used for trading activities. In the event of the company going bankrupt or shutting down, the funds are returned safely to the traders. Also, they follow the KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures, where all traders have to provide proof of ID, proof of address and proof of payment before they are allowed to use their services.

  • Trading index

Knowing the trading index of a broker is also a necessary step because you want to know exactly where you will be investing your money. As stated earlier, there are thousands of trading instruments in the market and each has different levels of risks and profits. If you have a specific instrument you wish to trade, it is best to check if the company can offer it to you, or whether they give you room to diversify. Where TradeFW is concerned, you will come to know that they offer 170 trading instruments and they are divided into various categories. This gives you enough room to diversify your portfolio and keep your risks under control. Some of the assets you can trade are:

Commodities: This financial market promises consistent returns and is less volatile as opposed to others. You can trade soft commodities, such as agricultural products including cocoa, soybeans, wheat and corn, or you can choose hard commodities, such as precious metals including gold, silver, platinum and palladium. Natural energies like natural gas and oil can also be traded.

Stocks: The stock market is one of the most well-known financial markets in the world and you can trade an array of shares in this market. Some of the offerings you will find at TradeFW include companies like Microsoft, Facebook, Apple, eBay, ENI, Google and Unicredit. In fact, they have also added Cannabis stocks to appeal to their clients.

Indices: If you don’t want to trade individual company stocks and prefer to trade the markets as a whole, indices are a solid option for you. You will find some impressive options here, such as FTSE 100, S&P 500, Dow Jones and Nasdaq.

Forex: The foreign exchange market is regarded as the world’s biggest market and it involves trading of a horde of major, minor and exotic currency pairs. You can find lots of options to choose from, such as EUR/USD, GBP/USD, USD/JPY, AUD/CHF, USD/NZD and USD/RUB, amongst others.

  • Trading Platforms

A big reason that brokers are still a crucial part of your trading journey is because they provide you with the trading platform you use. This is the software that acts as your bridge into the financial markets, lets you find the opportunities and then allows you to execute your trades. These can vary from company to company because not everyone will give you the same choice and it can have a big impact on your overall trading experience. The right platform can make trading easy and profitable while the wrong one can complicate matters and result in losses.

When you check the trading platforms at TradeFW, you will discover that it offers you the MetaTrader 4 suite of platforms. This is the topmost trading platform that exists in the market today and is the preference of all experienced traders because of its impressive features. TradeFW offers you various versions of this platform, allowing you to opt for the one you are most comfortable one. Take a look at the choices below:

MT4 Desktop: The MT4 desktop trading platform has to be downloaded and installed on your desktop device and is powered by cutting-edge technology. It has an intuitive user-interface and makes trade execution simple and easy with one-click trading. It is a fully customizable platform that comes with a charting package, analysis tools, 85 pre-installed trading indicators, navigator window, and Expert Advisors (EAs) that can be used for automatic trading.

MT4 Mobile: If you don’t want to trade through a desktop version, TradeFW also gives you the chance to go with MT4 mobile apps. These are available for both iOS and Android ecosystems and can work on tablets and smartphones alike. You can enjoy full control of your trading account with these apps and trade from anywhere and everywhere. Also, the apps have been equipped with a wide range of tools and features like a complete set of trading orders, intuitive charting package, real-time quotes, different execution modes and full trading history.

MT4 WebTrader: Traders who are looking for simplicity will like the MT4 WebTrader, which is accessed through the web browser and doesn’t have to be downloaded or installed anywhere. You can use it on any device with a browser and it uses high-end encryption for protecting all information. There are 9 chart time-frames, 30 trading indicators, and one-click trading, real-time quotes, 24 tools for technical analysis, multiple trading orders and execution modes and various other features that improve and enhance its usability.

  • Registration requirements

After assessing the regulation, asset index and trading platform of a broker, your focus should now be on the registration requirements in order to know what you have to do to use their services. If they are too hassling and time consuming, traders would prefer to switch to a different broker, as there is no shortage of options in the market. TradeFW has accommodated its clients quite well by keeping their registration procedure simple and quick, with no such complicated requirements that can slow you down.

Traders are asked to complete one form, which is given on their website. The form needs basic data, such as first name, last name, and phone number, country of residence, an email address and a password. You will also be asked to confirm that you are at least 18 years or older and you have to agree with TradeFW’s Terms & Conditions, which are mentioned on their website. The process will be completed immediately and you can then open your account.

  • Account types

Since TradeFW is offering its services to global traders, regardless of their background and experience level, they have come up with different account types to facilitate them. Obviously, no two traders are the same, so offering several options has become the norm for brokers. The types that you will find here are:

Standard: Anyone who is new to the financial market can opt for TradeFW’s Standard account, which comes with 24/5 customer support, educational resources, 0.01 contract size, hedging, leverage of 1:30 and an account manager. The spreads for this account option begin at 2.7 pips.

Gold: To accommodate intermediate traders on its platform, TradeFW put together the Gold account. It carries the same features as the Standard account with some changes. The minimum contract size is now 0.05 and the spreads start at 2 pips.

VIP: This particular account option has been developed primarily for seasoned traders and to give them more incentive to trade, the spreads in this account start at 1.7 pips. The minimum contract size for this account is adjusted to 0.1 as well.

Professional: The last account type that you will come across is for Professional traders, just like its name. Here, all features provided by the broker are made available and the leverage is increased to 1:500 to help traders in making bigger trades.

  • Customer Assistance

Your decision about choosing a broker should never be complete without taking into account the customer support options they provide. The best way to judge any business is to see if they value their clients or not. TradeFW is aiming for 100% customer satisfaction, due to which they have added numerous channels for their clients to get in touch with their team. They are available 24/5 via email or you can call them at different numbers that are provided for different offices. These can easily be found on their website.

Apart from that, you can also fill out the online contact form that they offer on their website, where you can enter all necessary details. There is also an FAQ section that has been developed by TradeFW, where they provide answers to questions asked frequently.

The Verdict

Once you have understood exactly what TradeFW is offering, it is easy to sign up and use their services for dipping your toes in the trading world.