FOREXWEBTRADER – A Quick Review

This particular broker is most suitable for people who like to do everything over the internet including opening an account and depositing money online. You also won’t have to download or install the trading program on your computer. The broker will offer you a solid trading basic with a number of basic options such as spreads, options and trading tools that will help you with the decision making process. The trading program allows everything to be done over the internet. The broker is regulated. It is possible to open a trading account with a very small deposit. This is only alternative offered since the broker does not offer “DEMO” trading.

“Demo Trading” – This is not offered by the broker.

Initial Investment – You will be required to make a deposit of at least twenty five dollars. This is not what you would refer to as a MINI account as this particular broker only offers a regular account. It is possible to practice live with a very small investment but your breathing space with such a small amount of money is very limited. It will become a problem very quickly. Score: 9

Deposits and withdrawals from your account – The process of opening an account is pretty simple and opening an account can be accomplished over the internet. There are a wide range of possibilities that you can use to deposit funds. You can also deposit funds via bank transfer and credit cards. Nearly identical possibilities are available for withdrawals. Score: 9.5

Spread – The broker will give you a spread of two to five PIPS for main currency pairs. You will only get this if you make a large deposit into your trading account. You will need to bargain with the broker’s representative in order to determine the spreads that he will offer you. This will be determined by the amount that you are willing deposit on your account. The more you deposit the lower your spreads will be. The less you deposit the higher your spreads will be. It should be noted that all spreads are not fixed under all market conditions. Score: 7.5

Stop Point – Check with the broker to ensure that he guarantees a stop point and whether or not it is guaranteed under all market conditions.

Leverage – 1:100. A transaction must be guaranteed by at least a 1% deposit. Score: 7.5

Interest – This is calculated for you on open transactions. (Rollover).

Regulation – The broker claims to be regulated by “Finexo Global Investments”. Score: 8

Trading Tools:

Technical and professional support – Available 24 hours a day.

Literature, professional articles and on-line tools – None available.

Trading courses – None.

Reviews and market surveys – A range of reviews is offered.

Trading alerts – None.

Traders help guide – None.

Range of foreign currency pairs offered – More than forty five foreign currency pairs are offered by the broker.

Languages – Nine languages are supported.

On-line trading room – None.

Personal coaching – None.

Bonuses, free gifts and other “goodies” – It is possible to trade via your mobile phone. There are some bonuses that are offered but they are liable to change at any time. Right now, the broker is offering a ten percent bonus on money deposited when first opening an account up to a maximum of five hundred dollars.

Downloading trading platform – No. Everything is done on-line at the broker’s site.

Trading programme “friendliness” – The program is very basic. A technical trader will find a few disadvantages with this program. The program is missing analytical tools and the program it not comfortable to work with. Score: 7

Advantages – The broker offers many advantages for people who like to do everything online. People who prefer to trade in rare currency pairs will likely be able to find what they are looking for with this particular broker. The broker claims to be regulated by a well known and respected company. Although it is no recommended, you can open a trading account with a small initial deposit.

Disadvantages – The program allows for solid trading but it is cannot be used comfortably. Virtual trading is impossible and no MINI account is available. You can always trade with a live small account but this will leave you with very little breathing room on open transactions therefore restricting your options. The spreads offered initially by this particular broker are not very competitive and can be quiet expensive if you decide to open a small account. The trading tools offered by this particular broker are very basic and are not sufficient enough for a novice Forex trader.

Brokers score: 7.5

Please note: that a business, commercial company and broker can change their terms, offers and conditions from time to time. They may also change their bonuses at any time. Therefore, you should check with the broker before making a decision to determine whether or not the information within this article is still valid.