WFT GROUP Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-07-21 17:39

Abstract：WFT GROUP is a St. Vincent and the Grenadines registered online Forex and CFD broker, allegedly owned by a company called INVEST GROUP LLC, which is not currently subject to any effective regulation.

　　General Information & Regulation

　　WFT GROUP is a St. Vincent and the Grenadines registered online Forex and CFD broker, allegedly owned by a company called INVEST GROUP LLC, which is not currently subject to any effective regulation.

　　Market Instruments

　　WFT GROUP provides investors with financial products, foreign exchange currency pairs, CFDs, energy, metals.

　　Minimum Deposit

　　WFT GROUP official website does not provide any information on account types and minimum deposit amounts. In general, most brokers offer a minimum initial deposit of $100 for standard accounts, below $200, the minimum initial deposit amount of $10 for a micro account.

　　WFT GROUP Leverage

　　With respect to trading leverage, the maximum trading leverage offered by WFT GROUP for forex instruments is up to 1:100. Since leverage can amplify gains as well as losses, inexperienced traders are not advised to use such high trading leverage.

　　Spreads & Commissions

　　There is no spreads and commissions related details announced on its website. According to sector standard, the benchmark spread of the EUR/USD pair varies from 1.1 pips to 1.5 pips.

　　Other Trading Fees

　　WFT GROUP charges a monthly fee of $30 for accounts that have been inactive for more than 90 days. If a trader wants to stop trading and withdraw funds, WFT GROUP charges 30% of the initial deposit, or at least $80.

　　Trading platform

　　WFT GROUP provides access to MT5, web, and PC versions. MT5 PC with algorithmic trading, charting tools, compared to the basic web-based platform, has limited functionality and no automated trading features.

　　Deposit & Withdrawal

　　WFT GROUP supports traders to deposit and withdraw funds via credit/debit card, wire transfer, and bitcoin payment methods. Investors should note that wire transfers and bitcoins are not eligible for refunds, and it is better to use bank cards for deposits, as this allows traders to make refund requests within 540.

　　 WFT GROUP Cons

　　 WFT GROUP Drawback Include:

　　1. Offshore brokers & not subject to any regulation

　　2. No minimum initial deposit requirement provided

　　3. Key information on leverage, spreads & commissions missing

　　4. Unreasonable fees

　　5. Limited options for deposits & withdrawals