WEEX-Overview of Minimum Deposit, Leverage, Spreads

General Information

WEEX, a trading name of WEEX Limited, is allegedly an international investment services provider located in St. Vincent and the Grenadines, claiming to provide its institutional and retail clients with risk control and pass-through solutions, CFDs on international cash and futures, multiple tradable instruments with leverage up to 1:100 and variable spreads via the industry-standard MetaTrader5 trading platform, as well as a choice of five different account types and 24/5 customer support service.

Market Instruments

WEEX advertises that it offers a diverse range of trading instruments in financial markets, including CFDs in forex, cryptocurrencies, stock indices, commodities, stocks, precious metals and energy.

Account Types

There are five live trading accounts offered by WEEX, namely Standard, Cents and Naked pips, Zero pips and Pioneer. Opening professional accounts like Naked pips, Zero pips and Pioneer requires the minimum initial deposit amount of $2,000, while the minimum initial capital requirements of Standard and Cents depend on the payment system.

Leverage

WEEX provides its clients with flexible leverage of all investment products ranging from 1:1-1:100. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads and commissions are influenced by what type of accounts traders are holding. WEEX reveals that the spread on the Standard or Cents account starts from 0.3 pips, the clients on the Pioneer account can experience spreads from 0.1 pips, while the Naked pips or Zero pips account with raw spreads from 0.0 pips. As for commissions, the broker charges the Standard or Cents account 0 commission, while the Naked pips account with a commission of up to $3.5 per lot per side, the Zero pips account with $0.1 per lot per side, and the Pioneer account with 0 handling fee.

Trading Platform Available

When it comes to trading platforms available,WEEX gives traders two choices: MT5 PC and MT5 Mobile. The MT5 is known as one of the most successful, efficient, and competent forex trading software, offering 31 charting tools, 30 technical indicators, position indicators, technical parameters and others. With the MT5, traders can use the programming language (MQL5) to create their own custom indicators, scripts and function libraries, or even Expert Advisors (EAs). While with MT5 Mobile, trading can be done from anywhere and at any time through the right mobile terminals including iOS and Android.

Deposit & Withdrawal

WEEX works with a wide selection of payment methods including Bitcoin, bankcard, Bitake, China UnionPay, FlashEx, Skrill, Neteller, otc365, Perfect Money, SticPay, Tether and Webmoney. The minimum deposit amount is $350 for FlashEx, $160 for China UnionPay, $100 for Bitake, $85 for otc365, $50 for Perfect Money, and only $10 for other payment methods. While the minimum withdrawal amount is $500 for FlashEx, $100 for Tether, $85 for otc365, $10 for bitcoin and Skrill, $4 for Neteller, $3 for bankcard, $2 for Perfect Money, and only $1 for SticPay and Webmoney. As for the processing time of deposit and withdrawal requests, deposit via Bitcoin and Tether requires up to 72 hours, while other deposits can be processed instantly. Withdrawals with Bitcoin, bankcard and Tether require up to 72 hours, withdrawals with Bitake and China UnionPay are not involved, while other withdrawals are instant.

Customer Support

WEEX‘s customer support can only be reached by email: offical@weex.fund. However, this broker doesn’t disclose other more direct contact information like telephone numbers and the company address while most brokers offer.