What is New Win FX?
New Win FX is a global brokerage firm based in Saint Vincent and the Grenadines. It offers trading services in various market instruments, including Spot Indices, Commodities, Forex, Indices, Cryptocurrencies, Metals, Stocks. However, it is important to note New Win FX currently has no valid regulations.
New Win FX Regulation
New Win FX is not regulated by any regulatory authorities.
Pros & Cons
Market Instruments
Users of New Win FX have access to market instruments including Spot Indices, Commodities, Forex, Indices, Cryptocurrencies, Metals and Stocks.
Forex trading involves the buying and selling of different currencies in pairs, with the aim of profiting from the fluctuations in their exchange rates. Traders can engage in trading major currency pairs such as EUR/USD, GBP/USD, USD/JPY, as well as minor and exotic currency pairs.
Moreover, New Win FX allows clients to trade cryptocurrencies, which is a digital or virtual currencies that use cryptography for secure transactions and control the creation of new units.
Stocks, also known as shares or equities, represent ownership in a company, is also available with New Win FX. When you own stocks in a company, you become a shareholder and have a claim on a portion of the company's assets and earnings.
Clients of New Win FX also have the opportunity to trade metals which are a group of rare and valuable metals that have significant economic and industrial importance. These metals are known for their inherent rarity, beauty, and resistance to corrosion.
Furthermore, indices are also available in New Win FX platforms. It represents a statistical measure of the performance of a specific group of assets, such as stocks, bonds, or commodities. It serves as a benchmark or reference point for tracking the overall performance of a particular market or sector.
Finally, clients can choose to participate in commodities contracts. Commodities refers to trades in crude oil and energy. Prices usually follow basic economic concepts, with a reduction in supplies leading to higher prices and a glut, to lower prices.
Accounts
New Win FX offers a range of account types to cater to different trading preferences and capital levels.
The account types include STANDARD (A) with a minimum deposit requirement of USD 20 and STANDARD (B) with a minimum deposit requirement of USD 50. These accounts are designed to accommodate traders with smaller capital sizes.
For more experienced and professional traders, New Win FX provides the REAL PRO account, which requires a minimum deposit of USD 500. This account offers advanced trading features and potentially lower trading costs.
Traders looking for tighter spreads can opt for the RAW SPREAD account, which requires a minimum deposit of USD 1,000. This account type aims to provide traders with direct market access and competitive pricing.
New Win FX also offers the PAMM & SOCIAL TRADE account, which allows traders to participate in PAMM (Percent Allocation Management Module) and social trading. The minimum deposit for this account is USD 100.
Lastly, the STANDARD NWT account is available with a minimum deposit requirement of USD 10. This account type may be suitable for traders who want to start with a small initial investment.
Anyway, it's important for traders to carefully consider their trading goals, risk tolerance, and account requirements before selecting an account type that aligns with their needs.
Leverage
New Win FX provides a high leverage ratio of 1:500 for its accounts. This means that traders can control positions in the market that are up to 500 times larger than their initial capital. Such a high leverage ratio offers the potential for substantial gains on even small price movements. However, it's important to note that trading with high leverage also comes with increased risk. While leverage can amplify profits, it can also magnify losses, potentially leading to significant financial consequences.
Spreads & Commissions
New Win FX offers different types of trading accounts, each with its own specific features and cost structure.
The STANDARD (A) account comes with a spread starting from 0.5 pips, although the specific commission details are not provided.
Similarly, the STANDARD (B) account offers a spread starting from 0.5 pips and features a multi-level IB (Introducing Broker) commission structure with a maximum of 14 levels.
The REAL PRO account provides tighter spreads, starting from 0.2 pips.
For traders seeking the lowest spreads, the RAW SPREAD account offers spreads starting from 0.0 pips. However, it incurs a commission starting from $3.5 per lot size.
The PAMM & SOCIAL TRADE account type comes with a spread starting from 0.5 pips. Notably, there is no commission charged for this account, and there is also no swap overnight.
Lastly, the STANDARD NWT account offers a very tight spread starting from 0.1 pips and does not involve any commissions.
It's important for traders to carefully consider the spread and commission structure when selecting an account type, as these factors can impact trading costs and profitability.
Below is a comparison table about spreads and commissions charged by different brokers:
Trading Platforms
New Win FX offers traders the New-win Trader platform, which is available on various devices including Windows, iOS, and Android. New Win Trader Platform Data Feeds is a kind of in-house developed platform which provides the low latency price streams for FX, Indices, Commodity, Equities and Cryptocurrencies. All price streams are generated in the fast-Matching Engine and it allows all Forex market participants to access sources of FX, CFD and Crypto instruments in the fastest possible way. It also covers multiple equity markets from Europe, USA and Asia.
With this platform, your trading request will be executed even if the application is closed. Open positions can be modified by changing Stop Loss and Take Profit order levels in order to set your profit or minimize your losses.
As a client of New Win FX, traders can expect to access the New Win Trader platform to manage their trades efficiently and participate in the financial markets.
Trading Tools
New Win FX provides a range of trading tools to help its clients in their trading activities.
Market analytics, including trends of each trading pair, which can provide valuable insights into market movements and potential trading opportunities.
Signal services are also available, it provides trading signals generated by experienced analysts. These signals can be used as a reference for identifying potential entry and exit points in the market.
New Win FX also offers access to an economic calendar, which highlights important economic events and their potential impact on the financial markets. This calendar helps traders stay updated on key economic indicators and plan their trades accordingly.
Economic news updates are provided to keep traders informed about the latest developments in the global economy. This can help traders understand the factors influencing market movements and adjust their strategies accordingly.
Deposits & Withdrawals
New Win FX offers its clients multiple options for deposits and withdrawals. They accept deposits and withdrawals through various methods, including:
Local Bank Transfer (Instant): Clients can conveniently transfer funds to and from their trading accounts using local bank transfer services.
Credit Card (Instant): Clients can use their credit cards to make instant deposits into their trading accounts. This provides a convenient and widely-used method for funding their accounts.
Wire (5 Days): Wire transfers are also accepted for deposits and withdrawals. While this method typically takes around 5 days for the transaction to be processed, it offers a reliable way to transfer larger amounts of funds.
Crypto (USDT, BTC) - Instant: New Win FX supports cryptocurrency deposits and withdrawals, specifically USDT (Tether) and BTC (Bitcoin). This option allows clients to utilize the speed and security of blockchain technology for instant transactions.
New Win FX does not cover any exchange rates charged if trades deposit in a currency that is different to that of their bank funds.
Customer Service
New Win FX offers customer support through various channels.
For inquiries or assistance, traders can reach out to their customer support team via email at Support@Newwinfx.com.
Additionally, New Win FX provides a 24/7 live chat option, allowing traders to engage in real-time conversations with a support representative. This live chat feature ensures that assistance is available round the clock to address any urgent concerns or queries.
Furthermore, New Win FX offers an online messaging system where traders can fill out a form with their inquiries or concerns.
In addition, you can also get in touch with them by post as below:
Postal Address:
New Win FX Ltd. Office 981182-184 High Street North, East HamLondon E6 2JA. UK.
However, direct phone contact information is not available yet for this broker.
Frequently Asked Questions (FAQs)
2024-07-12 17:42
