General Information& Regulation
WT Capital is a registered trademark of Force Media Marketing Ltd, which is allegedly in Switzerland, with its actual address not disclosed.
In terms of market instruments, WT Capital offers Forex and CFD products. Forex trading includes major currency pairs like EUR/USD, GBP/USD, and USD/JPY, along with minor and exotic pairs such as USD/TRY and EUR/SGD. The CFD product range encompasses stocks, commodities, indices, and cryptocurrencies, including popular assets like Apple Inc. (AAPL) stock, Gold and Silver commodities, S&P 500 and NASDAQ 100 indices, and cryptocurrencies like Bitcoin and Ethereum. Account options at WT Capital feature the Standard Account with no minimum deposit requirement and a maximum leverage of 1:200. Spreads and commissions for this account involve a cost of 4.1 pips per trade on EUR/USD with no additional commission fees. The platform provides a single trading option, the WT Capital WebTrader, a web-based platform accessible through any web browser, offering various trading tools and features. Customer support is available via email and phone.
Pros and Cons
WT Capital presents a range of advantages and disadvantages. On one hand, it offers a diverse selection of Forex and CFD instruments, doesn't impose a minimum deposit requirement, provides a generous leverage ratio of 1:200, and offers accessible customer support through email and phone. However, potential concerns arise due to the lack of valid regulation, the current unavailability of the main website, limited trading platform options (only WT Capital WebTrader), relatively high spreads on EUR/USD (4.1 pips) for Standard Accounts, and the limited information available about the company, Force Media Marketing Ltd.
Is WT Capital Legit？
WT Capital lacks valid regulation, raising concerns about its legitimacy and safety as a broker. Potential clients should exercise caution when considering its services due to the absence of regulatory oversight.
Market Instruments
There are a series of the tradable trading instrument including Forex and CFD products, which are available for traders to take the option.
Forex: WT Capital offers a range of Forex instruments, allowing traders to speculate on currency exchange rates. This includes major currency pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs, such as USD/TRY and EUR/SGD.
CFD Products: WT Capital provides access to Contract for Difference (CFD) products covering various assets, including stocks, commodities, indices, and cryptocurrencies. Some examples of CFDs offered include Apple Inc. (AAPL) stock, Gold and Silver commodities, S&P 500 and NASDAQ 100 indices, and popular cryptocurrencies like Bitcoin and Ethereum.
Accounts & Leverage
STANDARD ACCOUNT: The Standard account offered by WT Capital requires no minimum deposit and provides a maximum leverage of 1:200. Traders can initiate trades with a minimum size of 0.01 lot.
Pros and Cons
Minimum Deposit
WT Capital has no minimum deposit requirement.
Spreads & Commissions
There is not much information referred about spreads, however, the average spread is 4.1 pips on EUR/USD. No commission is provided by WT Capital.
Deposit & Withdrawal
WT Capital allows deposits and withdrawals via bank wire, credit/debit cards, and cryptocurrency. The withdrawal fees vary depending on the payment method. For example, bank wire withdrawals incur a fee of $25, while credit/debit card withdrawals incur a fee of 2.5%. Crypto withdrawals are free.
Trading Platforms
WT Capital offers a single trading platform, the WT Capital WebTrader. It is a web-based platform that is accessible through any web browser. The platform offers a variety of features, including charting, order execution, and market analysis tools.
Deposit & Withdrawal
The deposit and withdrawal are not disclosed on WT Capitals official website.
Customer Support
The support team is always at clients assistance with the best possible solutions to the queries. Please call the helpline at +442033185319 or e-mail at support@wt-capital.com at an appropriate time.
Conclusion
In conclusion, WT Capital, while providing access to a range of market instruments including Forex and CFD products, faces notable disadvantages. It operates without valid regulation, which raises concerns about its legitimacy and client safety. The company offers a single trading platform and limited customer support options. While it boasts no minimum deposit requirement and a 1:200 leverage ratio, potential clients should approach its services with caution due to the lack of regulatory oversight and limited offerings in terms of trading platforms and support channels.
FAQs
Q: Is WT Capital a legitimate broker？
A: WT Capital lacks valid regulation, which raises concerns about its legitimacy and safety as a broker. Potential clients should exercise caution when considering its services.
Q: What market instruments does WT Capital offer？
A: WT Capital provides a range of Forex instruments, including major and exotic currency pairs, as well as CFD products covering stocks, commodities, indices, and cryptocurrencies.
Q: What types of accounts are available at WT Capital？
A: WT Capital offers a Standard Account with no minimum deposit requirement and a maximum leverage of 1:200.
Q: What are the spreads and commissions for trading with WT Capital？
A: Traders with a Standard Account pay 4.1 pips per trade on EUR/USD, with no additional commission fees.
Q: How can I deposit and withdraw funds with WT Capital？
A: WT Capital allows deposits and withdrawals via bank wire, credit/debit cards, and cryptocurrency, with varying withdrawal fees depending on the method chosen.
Risk Warning
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose.
2023-03-09 16:55
