What is WH Selfinvest？
WH Selfinvest is a brokerage firm that provides trading services to clients interested in various financial markets, including futures, Forex (foreign exchange), stocks and options. The company offers trading platforms, tools, and access to global markets, catering to both retail and professional traders. Established in 1998, WH Selfinvest has offices in multiple countries and is known for its range of trading products, educational resources, and customer support.
Pros & Cons
Pros
Multiple Market Instruments: WH Selfinvest provides a wide range of instruments, such as Futures, Forex, Stocks and options
Multiple Customer Support Channels: WH Selfinvest provides several channels for customer support including live chat, telephone, email, and social media. This makes it easier for clients to reach out with their queries or concerns.
Demo Accounts Available: WH Selfinvest offers demo accounts, allowing users to practice trading without risking real money. This can be beneficial for beginners or those who want to test the platform.
Cons
No Regulation: WH Selfinvest is not regulated, which increases risks for clients as the company doesn't have to adhere to any established financial standards nor offer protections typically required by financial regulators.
Commission Charged: Unlike some brokers that offer commission-free trading, WH Selfinvest charges a commission for stocks and option trading, which renders its services less competitive in comparison.
Is WH Selfinvest Legit or a Scam？
Regulatory Sight: WH Selfinvest, despite holding three licenses which are suspected to be clones from Swiss Financial Market Supervisory Authority (FINMA), Federal Financial Supervisory Authority (BaFin, No. 122635), and the Autorité des Marchés Financiers (AMF, No. 18943), it's important to conduct thorough research and approach with caution. The presence of potential clone licenses cast a shadow on the legitimacy of the firm.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Account Types
WH Selfinvest mainly offers two types of accounts to cater to the needs of its clients: demo accounts and real accounts.
The demo accounts are designed to provide users with a risk-free environment to practice and familiarize themselves with the trading platform and various financial instruments.
On the other hand, real accounts are intended for actual trading in the financial markets with real funds.
Additionally, WH Selfinvest offers two different accounts for stocks and option trading, Multi-asset account and Freestoxx account. These two types of accounts vary in many aspects.
Investors interested in worldwide access
The lowest commissions possible.
Significant interest on cash.
Investors and traders on the US markets.
Zero commission on all orders.
No monthly inactivity fee.
How to Open an Account？
Go to WH Selfinvest's official website and click on “Demo Account”. Fill in your personal information such as your name, email and phone number, then choose your country. After verifying, your demo account is set.
Go to WH Selfinvest's official website and click on “Open an Account”. Then you need to select your account.
Instruments: Futures, CFD and Forex, Stocks and more.
Account types: Single, joint or company.
Office: Germany, France, Luxembourg.
Then fill in your personal information. Once your account is verified, you can start utilizing the services offered by WH Selfinvest.
Spread
WH Selfinvest provides a spread equal to underlying for CFD and Forex trading to the following country: Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Netherlands, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, USA.
Trading Platform
WH Selfinvest provides the NanoTrader platform for trading, available in two versions: NanoTrader Free and NanoTrader Full. This platform utilizes three indicators - MACD, crossing MA, and RSI - to generate Buy or Sell orders, which are triggered when all three indicators align either bearishly or bullishly. Orders can be executed automatically or after approval from the trader.
Education Resources
WH Selfinvest offers articles, activities and free courses for clients as part of its effort to engage and educate traders. These activities and courses provide clients with opportunities to expand their knowledge and skills in trading, covering topics such as technical analysis, risk management, and trading strategies.
Customer Support
WH Selfinvest offers comprehensive customer support to its clients. This includes being available 24 hours a day, 5 days a week. Clients can reach out to WH Selfinvest through various channels.
Telephone: Clients can call their number +49 69 271 39 78-0 for any queries.
Email: The firm offers assistance through email atinfo@whselfinvest.com
Live Chat: Live chat is available for clients who prefer a quick and instant response.
Social Media: WH Selfinvest also maintains a strong presence on Facebook, YouTube, Twitter, providing clients with a more informal method of communication or for staying updated with the firm's latest news.
The company also provides its physical address, Niedenau 36 60325 Frankfurt am Main, Vitrum building, 2nd floor Rue du Puits Romain 33 8070 Luxembourg-Bertrange, 13-15, rue Taitbout 75009 Paris, WH SelfInvest, representatiekantoor België Maaltecenter Blok G Rue Derby 349 9051 Gent - Gand (B), Tauro Gebouw Teleportboulevard 110 1043 EJ Amsterdam, Badenerstrasse 549 8048 Zürich
Conclusion
WH Selfinvest is an unregulated broker posing a considerable risk for clients. While the firm offers multiple trading markets and demo accounts, its lack of regulation makes due diligence imperative before investing.
Frequently Asked Questions (FAQs)
Question: What are the market instruments offered by WH Selfinvest？
Answer: WH Selfinvest offers Futures, Forex, Stocks and options.
Question: Is WH Selfinvest a regulated broker？
Answer: No, their three regulatory licenses are all suspicious clones.
Question: What education resources does WH Selfinvest offer？
Answer: Articles, activities and free courses.
Question: Does WH Selfinvest offer demo accounts？
Answer: Yes.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
2023-02-24 12:09
2022-12-20 11:01
