FWT Markets Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-04-21 14:27

Abstract：Registered in South Africa, FWT Markets is a brokerage company holding a fake license. It claims to offer over 50 forex pairs, CFDs on 11 indices, silver, gold and oil with MT5 platform. However, currently its website can not be visited.

　　Note: FWT Markets' official website: https://www.fwtmarkets.com is currently inaccessible normally.

FWT Markets Review Summary
Founded	/
Registered Country/Region	South Africa
Regulation	No Regulation
Market Instruments	50+ forex pairs, CFDs on 11 indices, silver, gold and oil
Demo Account	❌
Leverage	Up to 1:500
Spread	2.5 pips
Trading Platforms	Meta Trader 5
Minimum Deposit	$100
Customer Support	Phone: +27 (0)12 362 0310
	Email: support@fwtmarkets.com
	Social media

　　Registered in South Africa, FWT Markets is a brokerage company holding a fake license. It claims to offer over 50 forex pairs, CFDs on 11 indices, silver, gold and oil with MT5 platform. However, currently its website can not be visited.

Pros and Cons

Pros	Cons
A wide range of products	Non-functional website
Diverse account types	Lack of transparency
Multiple customer support channels	No demo accounts
Low minimum deposit	Suspicious clone FSCA license
Flexible leverage ratios
MT5 platform

Is FWT Markets Legit?

Regulatory Authority	Financial Sector Conduct Authority (FSCA)
Regulatory Status	Suspicious Clone
Regulated by	FSCA
Licensed Institution	EZAGA FX (PTY) LTD
Licensed Type	Financial Service Corporate
Licensed Number	44133

　　At present, FWT Markets holds a fake license. The licensed institution is EZAGA FX (PTY) LTD, while the broker's name is FWT Markets. We advise you to choose regulated brokers.

What Can I Trade on FWT Markets?

　　FWT Markets claims to offer 50+ forex pairs, many of which exotic or minor like USD/HKD, USD/ILS, USD/MXN, USD/PLN, USD/RUB, USD/SGD, USD/SEK, USD/TRY and USD/ZAR, as well as CFDs on 11 indices, silver, gold and oil. Nevertheless, due to the inaccessible website, these products may not be tradable.

Tradable Instruments	Supported
Forex	✔
CFDs	✔
Commodities (silver, gold and oil)	✔
Indices	✔
Cryptocurrencies	❌
Shares	❌
ETFs	❌
Bonds	❌
Mutual Funds	❌

Account Type

　　FWT Markets provides three account types: Mini Account, Standard Account, and ECN Account. The minimum deposit requirement is $100 for the Mini Account.

Account Type	Min. Deposit
Mini	$100
Standard	$150
ECN	$500

Leverage

　　The Mini Account holds a maximum leverage up to 1:500, while the Standard Account and the ECN Account hold a lower leverage of 1:200.However, please note that high leverage can bring both great profits and big losses.

Account Type	Max. Leverage
Mini	1:500
Standard	1:200
ECN	1:200

Spreads & Commission

　　Mini Account and Standard Account both have a spread of 2.5 pips.

　　The ECN Account has a raw spread plus $3/lot.

Account Type	Spread	Commission
Mini	2.5 pips	❌
Standard	2.5 pips	❌
ECN	raw spread + $3/lot	$3/lot

Trading Platform

　　FWT Markets offers MetaTrader5 for clients. MT5 is an industry-leading trading platform which is sound for experienced traders. However, this pro can be doubted by the company's inaccessible official website.