TradeFW Broker Summary
In 2018, a company based in Limassol, Cyprus named iTrade Global (CY) Ltd. founded a forex and CFD broker by the name of TradeFW. On the TradeFW website, you will find phone numbers for their offices in Germany, Italy, the United Kingdom and Spain. TradeFW offers its traders Charting and technical analysis tools, trading indicators, price quotes, negative balance protection, risk management tools and Expert Advisors (EAs) for automated trading and more…
The beginning of the 21st century brought about a technological boom that has transformed all of our lives completely. Today, the world has gone digital, with technology and the internet both and people are able to do a lot of things they couldn’t even have fathomed even a few decades ago. It is not just our personal lives that have changed; the professional world has also undergone changes and almost all markets and businesses have enjoyed the benefits brought about by this advancement. This is no different in the case of financial markets and trading because they have also evolved significantly, all due to the internet and modern digital technology.
Before this evolution, when people thought about trading in the financial markets, they had to step out, find a good broker, discuss the terms with them and then start their trading journey. The process was time consuming and required full-time attention in most cases. Plus, you had to have knowledge of the financial markets, a significant amount of capital and some experience was also considered a bonus. These all acted as barriers to entry and despite wanting to take advantage of the lucrative opportunities that existed in the financial markets, a lot of people chose to not do so.
But, as mentioned earlier, things are no longer the same and the world of trading has also changed. Online trading was introduced a few decades ago and now, it has become one of the most prominent trends in the world. This is due to the fact that these financial markets have become accessible to everyone because of this transition and the barriers of entry that were stopping them before have been eliminated for the most part. These days, you can jump into the financial markets for trading, even if you don’t know how they work, have absolutely no experience and have only a limited amount of money to invest.
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This has prompted a lot of people to take an interest and they are eager to begin their trading journey because who doesn’t want to take advantage of the opportunities? While there have been numerous changes in this landscape, there is one feature that has remained consistent and this is the role of a broker. Even when you opt for online trading, you will need a broker to help you and you can find online options without any hassle because this form of trading has gained popularity. Hence, it was a given that brokers would also start providing their services online.
You can run a quick search on Google and the results will tell you that there is absolutely no shortage of these companies. As a matter of fact, their numbers have increased twofold due to increased demand and when you are looking for one, there will be a horde of options to explore. However, it is vital to remember that the choice of broker can determine your whole trading experience. In fact, they play a crucial role in your success because not only do they provide you with the primary trading platform, but they are also responsible for the trading conditions.
Sometimes, the wrong choice can result in your failure in the trading markets and this is an outcome that you want to avoid at all costs. You can get education about the trading market, gain experience by making trades, but if you have opted for the wrong broker, you will not be able to succeed. Making the right decision is of the utmost importance in this regard, but how will you make this decision? The key lies in checking what services and features are provided. After all, no two companies are created equal, so there will always be something different.
It is your job to find the answer and even though it might take you a bit of time, it is certainly better to take it because it can save you from the hassle of having to switch brokers in the future. Plus, you can minimize the security risks, get access to better trading opportunities and have a positive trading experience. Once you start going over the options available in the market, you will find the name of TradeFW.
An Introduction to TradeFW
|Standard, Gold, VIP and Professional
|Forex, Stocks, Indices, Commodities and Cryptocurrencies
|Charting and technical analysis tools, trading indicators, price quotes, negative balance protection, risk management tools and Expert Advisors (EAs) for automated trading
|Education and Training
|24/5 customer support via email and phone number
|AML (Anti-Money Laundering) and KYC (Know your Customer) policies, Investor Compensation Fund (ICF)
|iTrade Global (CY) Ltd.
|Cyprus Securities and Exchange Commission (CySEC)
In 2018, a company based in Limassol, Cyprus named iTrade Global (CY) Ltd. founded a forex and CFD broker by the name of TradeFW. This company is properly regulated and licensed to offer trading services and falls in the jurisdiction of the Cyprus Securities and Exchange Commission (CySEC). Since it was founded a couple of years ago, it may not be as experienced as some of the other companies, but it has made up for this by providing comprehensive and effective trading services. As a matter of fact, it is more capable of providing better and improved services because it is a regulated firm.
One of the most important things you will note about TradeFW is that it provides transparent services and is straightforward about its features and offerings. Their website is available in several languages, as they are catering to a global audience and ensure that everyone knows what they are getting into. Let’s explore some of its prominent features:
The Asset Offerings
Trading is certainly not a new activity and has been happening for centuries now. More and more people continue delving into this space and are able to make profits. How is that possible? This is mostly because there are thousands of trading instruments that can be traded in these financial markets and more are being added with time. This ensures that there are countless opportunities that everyone can explore and there is something to suit every trader, no matter what their trading style may be. Since there are a ton of options in the market, it is understood that not every brokerage you find will give you the same assets.
Subsequently, it is a good idea for you to take a look at the asset offerings of a broker before moving forward. If they don’t have the instruments you are interested in, or simply lack profitable options, there is no point in using their services. So, where does TradeFW fall? They have put together more than 170 financial instruments on their trading platform, which means anyone signing up for their services will have a plethora of options to explore. All of these instruments belong to different asset categories, so you can choose according to your interest.
If you want to start with stock trading, a market that’s known for its solid returns, TradeFW has ensured that its clients can trade stocks of some of the largest companies in the world. Some of the companies’ stocks that you will find here include Google, Apple, Microsoft, eBay, Netflix, Facebook, Aurora and PayPal. They have added stocks of Italian firms like Unicredit, Fiat and UNI and some different options like Cannabis stocks are also available. You can also opt for participating in the foreign exchange market through this platform.
Known as the world’s biggest market as its daily trading volume is more than $5 trillion, there is a fortune that can be made. A range of currency pairs can be found, whether you want major, minor or exotic choices, like USD/RUB, USD/JPY, EUR/USD as well as GBP/USD. You can find stable as well as volatile options to explore. Another lucrative asset category that can be found here is the indices market, where rather than trading individual stocks, you trade combined stocks of various companies. Nasdaq Composite, S&P 500, Dow Jones and FTSE 100 are some of the leading indices available.
Like the stock market, there is plenty of money to be made in commodities as well and they are able to offer consistent returns in the long run and are also less-volatile. The commodities are also divided into several categories, such as soft commodities and hard commodities. The former typically comprise of agricultural products like wheat, corn, coffee, soybeans and sugar, while the latter include precious metals like gold, silver, platinum, palladium and copper. You will also find energies like natural gas and crude oil for trading here.
An appealing thing about TradeFW is that the company keeps up with the market trends, due to which you will see the option of crypto trading in their asset offerings. These digital currencies have helped many traders in making solid profits due to their volatility. You can also invest in some of the top options like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Monero. There are exchange-traded funds (ETFs) and bonds also available here, which enable traders to create a diversified portfolio that keeps their risks under control and helps them maximize their returns.
The Trading Platforms
When people talk about their trading experience with a broker, what exactly are they talking about? While the asset offerings and other features do affect your overall experience, most of it will depend on the software that you have to use for executing your trades. This software is known as the trading platform and it is what you use to open and close trading positions, tracking the market movements and using trading tools. There are some brokers that provide their own proprietary trading platforms, while others opt to incorporate the ones that are already available.
In this regard, TradeFW has opted to not develop their own and have added the MetaTrader4 suite of trading platforms instead. This is a wise move on the company’s part because the MT4 is the most popular platform currently available and has been designed to facilitate all kinds of traders, whether newbies or experts. The suite of trading platform means that different versions of the MT4 are available to you, instead of just one option. This is a benefit because it gives you room to opt for a version you are most comfortable with.
There is the MT4 WebTrader available, which is accessible through the web, so it eliminates the need for download and installation. To access this platform, you just have to visit TradeFW’s website and open your account. It can work on any browser and boasts complete encryption for keeping your data safe. As far as features and usability are concerned, you can enjoy one-click trading and an easy-to-use interface that allows you to access your full trading history. You can find different types of trading orders, multiple execution modes, 30 trading indicators, 9 chart time-frames, and around 24 graphs for performing technical analysis.
If you don’t want to use the WebTrader, you can go with the desktop MT4 client. TradeFW has added this option for those who want a full trading experience. This platform doesn’t have any dealing-desk intervention, but is customizable and provides a highly intuitive user-interface. Instant trade execution is also a perk that not many platforms can offer and it allows for quick and efficient trading. When it comes to features, the desktop version gives you access to one-click trading, a charting package, order execution capabilities, 85 pre-installed indicators, navigator window, multiple order types and chart setup, along with analysis tools.
The platform also gives you the freedom to develop your own indicators if you want and you can also use Expert Advisors (EAs) if you want to enjoy the benefits of automated trading. Downloading the MT4 desktop platform takes only a couple of minutes and there is no learning curve due to easy navigation. Along with these two trading solutions, TradeFW has also provided you the mobile apps. You can find separate ones for iOS and Android systems, which can be downloaded on smartphones or tablets. These mobile apps enable you to keep up with all market movements, even on the go.
Moreover, they have also been equipped with real-time quotes, charting packages, automated trading, customizable layouts, one-click trading, multiple screens, direct trading from the charts, full set of trading orders, complete trading history and various execution modes. The apps are easy-to-use and deliver a smooth and seamless experience to the users, allowing them to trade whenever they want and from wherever they want.
Registering with a broker is the first actual step that you have to take when you decide to use any company’s services. The registration procedures of companies can differ, depending on their jurisdiction and their regulatory requirements. Even if you are not registering with them straight away, it is a good idea to take a look at the registration process to ensure it is not too complicated and can be completed easily. You also have to register with TradeFW if you decide to use their services and want to open an account with them. You will be pleased to see that their requirements are very straightforward and don’t demand you to jump through any hoops.
When you visit the TradeFW website, you will see the option of ‘Open an Account’ and clicking on it will begin the registration process. There is one form that you have to fill out and it is short and easy to complete. You have to enter very basic data in the form, so it doesn’t take you more than a couple of minutes. First and last name, a phone number, email address, country and a password are the only things that you will be required to provide. You have to be at least 18 in order to be eligible for an account with the broker.
TradeFW also asks you to agree with their Terms & Conditions, which are mentioned on their website and are designed to inform users of what they will be getting into. You can go over these for your own peace of mind.
When you are done completing the registration form mentioned above, the next step that usually comes up with almost every broker is that of choosing an account type. It is common to come across different account types because every trader is different and they have to be accommodated accordingly. The risk appetite of a trader, their style and their capital varies, so do their goals and they would prefer to choose an account type that reflects these. Like other companies, TradeFW has also added more than one account type and you will find a total of four available.
They have created each of these for a different category of trader and you don’t have to pay any fee for opening an account. As far as the minimum deposit is concerned, it is set at $250. The differences in the account types you will find is mostly based on their leverage, spread, contract size and commission. These trading conditions can have an impact on your bottom line, so it is best to know what they are. TradeFW’s first account type is known as Standard and it is one that is best for those who have freshly joined the trading world. Therefore, the spreads offered in this account are a bit on the high side, at 2.7 pips.
The minimum contract size you will find is 0.01 pips and users receive a maximum leverage of 1:30 in this account. Traders are also allowed hedging in this account and can make use of Expert Advisors (EAs). There is an education center that can be accessed for improving your knowledge and skills and an account manager is also provided. The second account type is referred to as Gold, which is best for intermediate and beginner traders. The spreads for this account start at 2 pips and leverage is the same as the previous account. The minimum contract size is 0.5.
The third account that TradeFW has added is called VIP and here they have reduced the spread to 1.7 pips. The minimum contract size is also brought down to 0.1 pips. The fourth choice you will find is called the Professional account and the biggest addition made here is in the form of leverage, which is increased to 1:500, making it great for professional traders.
One of the most important features of any business is their customer support and it indicates how serious they are in catering to their clients. Support becomes even more important where online trading is concerned because you cannot predict when you may encounter an issue. When you are using a platform for the first time, there could be a variety of problems or you could have questions about how a process works. You would obviously want to get help immediately, or else it might result in losses or missed trading opportunities.
You will find solid support available at TradeFW, as their aim is to achieve 100% customer satisfaction. First off, they have created a complete FAQ section where they provide answers to questions that are frequently asked by traders. This can save you from having to contact their customer support department. In case you don’t find your answer, you can get in touch with their responsive and friendly team. There are a number of channels that can be used in this case.
On the TradeFW website, you will find phone numbers for their offices in Germany, Italy, the United Kingdom and Spain. Likewise, TradeFW has also added email addresses that can be used for different regions. If you want, you can also fill out the online contact form available on their website that can get you a callback from their agents, if required.
Keeping all the offerings and features that have been put together by TradeFW, you will be able to enjoy a positive and great experience in the trading markets.