WinMarket Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-11-22 19:16

Abstract：WinMarket is an offshore broker, owned and operated by Seabreeze Partners Ltd., a company registered in the Commonwealth of Dominica- an island country in the West Indies.

　　General Information & Regulation

　　WinMarket is an offshore broker, owned and operated by Seabreeze Partners Ltd., a company registered in the Commonwealth of Dominica- an island country in the West Indies. Like other offshore zones such as St. Vincent and the Grenadines, the Marshal Islands, or the Seychelles, Dominica attracted many online businesses in recent years, because of the tax-free status they are granted, and the loose regulatory regime. WinMarket is operating without any license whatsoever.

　　Markets Instruments

　　WinMarket advertises that it can offers a wide range of trading products, including forex currency pairs, commodities, indices, stocks, cryptocurrencies.

　　Minimum Deposit

　　The minimum initial deposit is $250 for the Basic account. The other accounts start at $5,000 and $20,000 respectively.

　　Leverage

　　WinMarket says to provide leverage of up to 1:50, but when testing their their MT4 we were actually given 1:500. Trading with an unregulated broker offering generous broker is not a good option. High leverage levels provide huge profit potential, but they also involve great risks because any losses incurred will be multiplied. Thats why many financial regulators imposed leverage caps for retail brokers.

　　Spreads & Commissions

　　WinMarket advertises spreads as low as 0 on al account types, but through a demo account we saw that theyre actually not attractive at all – floating around 1.8 – 1.9 pips on EUR/USD.

　　Trading Platform Available

　　As their trading platform, WinMarket have chosen the MetaTrader4 (MT4), which is still considered one of the best forex terminals. The MT4 offers top-notch charting with many indicators, multiple types of orders, as well as wide range of Expert Advisors for automated trading. And those who have some knowledge of coding can create EAs and Indicators of their own.

　　Deposit& Withdrawal

　　WinMarket accepts card payments, wire transfers, and payments done using the Piastrix e-wallet. It should note that out of these three only credit cards can grant you the ability to file a chargeback, and in quite the long period of time – 540 days from the date of the transaction.