Is cwgmarkets.com scam or good forex broker?

CWG Markets Advantages

Licensed by UKs FCA

The company operating this broker, CWG Markets Limited, is authorized to provide financial services by one of the most reputable forex regulators worldwide, the UKs Financial Conduct Authority (FCA). Needless to say, this is the most significant advantage of CWG Markets, as the FCA applies very strict rules for license holders, so their clients can trade with the ease of mind that their money is safe and their broker is trustworthy.

Both MT4 and MT5 available

Another strong side of CWG Markets‘ offer is the availability of both MetaQuotes’ platforms – the MetaTrader4 and the MetaTrader5. Those two share a lot of similarities, most of which are highly praised by the forex community: the top-notch charting, the support of automated trading bots (Expert Advisors), the customization options, and more.

Besides, users of the MT5 can trade in OTC products and exchange-traded stocks from one and the same account.

Seemingly attractive spreads

The costs of trading with CWG Markets also doesnt seem high. Both the Classic and Advanced accounts offer good trading conditions, with spreads on the lower end of average for the sector.

Leverage up to 1:200 available to professional traders

Retail clients of CWG Markets who are categorized as a professional ons, are allowed to use leverage as high as 1:200. We consider the availability of leverage levels that high as an advantage, because they will suffice the needs of all traders. However, such ratios are not suitable for beginners, as they involve greater risk of loss.

CWG Markets Disadvantages

Could not log into demo account

Although demo accounts seem to be available on both CWG Markets‘ platforms, we could not log into the broker’s MT4 for testing purposes. Maybe because the brokers email with the credentials was in Chinese, which is quite odd. That being said, neither of the platforms is available for download directly from the website.

Relatively few CFDs

The CFD offering of CWG Markets is not that impressive, as it does not include some very popular instruments – CFDs on stocks and on cryptocurrencies. If you are keen on trading the cryptocurrency markets, we have drawn up a list of some brokers offering Bitcoin CFDs which are reliable and recommended.

Conclusion

CWG Markets is a forex broker based in the UK. It offers a variety of trading instruments with several account types and a choice of MT5 and MT4 platforms. Its trading conditions are not bad, but we could not verify the spreads and commission fees are as announced. The main advantage of the broker is its solid regulation. The company behind the brand it authorized by the Financial Conduct Authority (FCA), one of the strictest regulators in the world. It requires compliance with a number of stringent rules that lower the risk of foul play on part of businesses and secure clients interests and funds.

The most important thing about FCA regulation is that it involves additional guarantee to clients funds, since they fall under the umbrella of the Financial Services Compensation Scheme (FSCS). All FCA regulated brokers participate in the FSCS, and in case any of them goes bankrupt, clients can receive up to GBP 85,000 of their trading capital.

Lets sum up the review of CWG Markets in a few words: