The financial service provided Tradedwell was founded in 2020 and is the brand name of the parent firm Itrade Global. The parent firm is regulated by the Cyprus Securities and Exchange Commission (CySEC)
Tradedwell offers its clients access to trade on more than 170 tradable assets that cover the likes of Commodities, Forex, CFDs, shares to name a few. All of these instruments are easily traded with the web-based platform that the broker has indigenously developed. The broker also the metatrader4 trading platform to its users for trading in forex and other instruments.
The clients have an option to choose from three chief trading accounts called The sliver, gold, and platinum accounts. There are three main trading accounts and apart from these, there is a demo account and an Islamic trading account.
The accounts are differentiated on the basis of additional features that the broker provides, a VPS, and a provided discount on swap charles asked for overnight swapping.
In the form of market-related and news articles, a good educational background is offered to the traders. The broker also provides eBooks and courses to people who want to learn the nuances of trading. This education material is suited for novices to advanced traders because the material is of high quality.
The deposit and withdrawals are not charged any fee generally but in some cases, the broker does ask for a fee for withdrawal. An inactivity fee is also charged by the traders who have been inactive for more than 60 days.
The broker’s customer support is offered in multiple languages through Emails, Phones, and an option of live chat. The support team is active five days a week and between 8 AM to 6 PM.
Table of Contents
- 1 Is Tradedwell Scam or Safe:
- 1.1 What are the Trading Account types of Tradedwell?
- 1.2 Which Trading Platform Does Tradedwell Offer?
- 1.3 What are Tradable Assets with Tradedwell?
- 1.4 ACCOUNT OPENING:
- 1.5 Commission and fee:
- 1.6 Deposit and withdrawal:
- 1.7 Maximum Leverage:
- 1.8 Education and research material:
- 1.9 How to Contact Tradedwell Customer support Team?
- 1.10 What are Pros of Trading with Tradedwell?
- 2 Bottom Line:
Is Tradedwell Scam or Safe:
The broker is not a scam and is completely safe and legitimate. The parent firm of the broker is regulated by the prestigious CySEC plus, the trading platform MT4 is equipped with surreal security-related technology like SSL encryption and some other things as well.
The presence of a regulatory authority should put faith back into the trader so that they can trade peacefully. A lot of scam brokers claim that they are providing their services overseas which they do, but what they do not share is the fact that there is an absolute absence of the regulatory authority in different countries where they provide business. The CySEC makes sure that the broker is completely under the observation of law and behaves as it is supposed to be.
What are the Trading Account types of Tradedwell?
The broker offers demo trading and Islamic trading accounts as an addition to the three standard trading accounts. Silver, Gold, and Platinum.
With the help of a demo trading account, novice traders can understand the market’s volatility without the risk of losing money. This is because demo trading takes “bot money” or “paper currency” from its traders. This sum of money is provided to the trader as they open a demo trading account with the broker. One thing to be taken care of in the whale trading demo is that there should be no baseless use of paper currency.
The broker might offer $100,000 in (both terms) initially to the traders, but that does not mean that they make their first trade with that sum. Think about it, when you actually sit down and trade, will you have that exact sum as your capital? No, right?
Then use that demo money as the real money and work your trades out.
Islamic trading account:
This account is specifically designed for traders who worship the holy Quran and want to invest in the market in accordance with Islamic finance principles.
Islamic accounts are also abbreviated as swap-free accounts and differ in almost every aspect when compared with traditional forex trading accounts.
Since the sharia law outlaws the accumulation and acquisition of interest, holders of Islamic trading accounts don’t pay interests nor receive them. Apart from this, there should practically be zero delays in completing the transactions regarding any Islamic trading accounts. At the same time, zero delays in transaction cost payment should also be in mind.
As for the financial market, it has been seeing halal investment for quite some time now. There are a few brokers like TradedWell who provide this service.
Silver, Platinum and Gold accounts:
These accounts differ on the basis of the services provided to the traders associated with them.
For the retail accounts in all three variations, the broker provides a 1:3-0 leverage while that of the professional account is 1:400. All three accounts can be used for hedging and all three of them have a dedicated accounts manager.
The Gold and platinum account offers a free VPS while the silver account does not offer a virtual private server service. There is a 25% swap discount on the platinum account and a 50% swap discount on the gold account.
To open the account, the trader has to visit the broker’s website and click on account types. From there, the trader can choose the preferred account types from the list.
Which Trading Platform Does Tradedwell Offer?
The broker offers web traders and MetaTrader 4 as a trading application. The application can be downloaded from the app stores of android and iOS respectively. MT4 is known as the best forex trading platform. The lineage of MetaTrader trading platforms has been long and quality-providing. A lot of different platforms claim that they are one of the best forex trading platforms in the world. A good trader knows that tMT4 is one and there is no list after that platform. The presence of MT4 makes the broker invincible in the platform section.
What are Tradable Assets with Tradedwell?
TradedWell offers more than 170 tradable assets that can be traded via CFDs. The list of assets includes forex, cryptocurrencies and indices to name a few.
CFDs are a risky trading instrument and should be traded carefully. One thing that the trader archives from CFD trading is the ease of trading itself. The trader has to speculate on the price movement of an asset and not actually own it. While owning an asset can be a safe measure but at the same time if the asset starts declining and since it is already held, nothing but a loss is in the picture.
All the assets are available for CFD trading which means that the broker does not want the trader to see a loss more than there should be due to the market.
CFD trading on cryptocurrencies is the new spot-interest for traders these days. Trading on bitcoin without actually holding it for example, can be exotic in terms of opportunities for making money.
Trading Instruments List
|Symbol||Description||Trading Hours||Spreads (Starting From)||Leverage (Maximum)|
|EURUSD||Euro vs US Dollar||24H||0.7||500|
|GBPUSD||Great Britain Pound vs US Dollar||24H||1.3||500|
|USDJPY||US Dollar vs Japanese Yen||24H||0.8||500|
|AUDUSD||Australian Dollar vs US Dollar||24H||1.1||500|
|Brent Oil||Brent Crude Oil (ICE-EUR)||03:00 – 01:00||0.03||125|
|Cocoa||Cocoa (ICE-US)||11:45 – 20:30||30||125|
|Coffee||Coffee (ICE-US)||11:25 – 20:30||0.3||125|
|Copper||Copper (CME)||01:00 – 00:15||0.0041||125|
|3M||3M Company. NYSE (USA)||16:30-23:00||0.21||50|
|ADOBE||Adobe Systems Incorporated, NYSE(USA)||16:30-23:00||0.21||50|
|AIG||American International Group Inc. NYSE (USA)||16:30-23:00||0.21||50|
|Alcoa||Alcoa Inc. NYSE (USA)||16:30-23:00||0.21||50|
|CAC 40||CAC 40 Index Future (Euronext)||09:00 – 23:00||1.45||20|
|China Enterprise 40||China H-Shares Index Futures (HKE)||04:15 – 07:00 & 08:00 – 11:25||1.3||10|
|DAX 30||DAX 30 Index Future (Eurex)||09:00 – 23:00||1||20|
|XAGUSD||Silver vs US Dollar||01:00 – 24:00||0.037||10|
|XAUUSD||Gold vs US Dollar||01:00 – 24:00||0.37||20|
|PALLADIUM||Palladium (USD)||01:00 – 24:00||0.58||10|
|PLATINUM||Platinum (USD)||01:00 – 24:00||3.1||10|
To open an account with the broker, the trader should first research well. The aim of researching is to instill knowledge in the minds of people with which they can learn trading and the nuances of trading.
When the trader visits the website of the broker, all they have too is to click on account types and then open an account with the specific choice.
After they have chosen the desired account types, the traders also have to answer a questionnaire that tests their trading knowledge.
The broker also asks for specific details such as proof of identity, proof of residence in the mentioned country and also, bank-related documents.
Commission and fee:
The traders don’t have to give any commission per trade to the broker. The broker earns via spreads that are variable with respect to different accounts and assets. Commission-based trading is never good for traders because most of them are interested in swing or momentum trading.
When momentum trading is practiced, a lot of different trades are made throughout the day and their profit margin is kept low. The number of successful trades adds up and makes a decent profit at the end of the day. If commissions are asked on each trade, then the profit share of the trader declines heavily.
The broker charges some inactivity fee from the trader when they haven’t been trading for a while. This fee also differs for different time spans, the maximum being an equivalent of EUR 500 from the trader’s account.
The platinum account users have to pay the least spread and the users of the silver account have to pay the maximum spread.
Deposit and withdrawal:
The deposit and withdrawal happen within three business days and the trader has to put up a withdrawal request to the broker in advance. The broker offers a variety of different methods for the same. The list includes Neteller. Skrill, iDeal, and a lot more. Deposits are processed instantly but they can vary on different banks and their whole process of a deposit.
The withdrawals are processed only on business days. Any request made after 07:00 GMT will be settled on the same day and any request made after that will be settled on the next business day. Any withdrawal request that exceeds a hundred euros requires an extra fee that has to be paid to the broker. The broker informs the traders in advance about this.
Funds can be withdrawn and deposited by clicking on the client portal tab. After clicking on that, the payments tab can be clicked which is followed by deposit and withdrawal.
The broker offers different leverage on different trading accounts. The platinum account holders are exposed to maximum leverage of 1:500 while the silver account holders are exposed to exponentially low leverage.
This is seen because of the fact that a lot of novice traders trade on leverage and end up losing more than they can afford. This step taken by the broker to limit the leverage for novice traders is a very positive step in terms of the trading community as a whole.
The bay leverage works are beneficial and harmful. When the broker says that it provides 1:500 leverage, it actually means that the trader with one dollar can control the trade worth five hundred dollars. This can be harmful for novice traders and hence, they are not exposed to such risks.
Education and research material:
The broker TradedWell provides excellent content when it comes to education and research material. The material is top-notch and can be accessed by anyone.
Most of the brokers in the world are more focused on converting the visitor into a lead and only then do they offer the research material. The broker TradedWell has no such restrictions. Any visitor of the website can access the education and research tab.
The content is full of things like on-demand videos, economic and market calendars with the addition of things like webinars.
All these assets help the traders to become the best of them and the fact that the broker is providing all of this for free is the thing that the trader has to pay a lot of attention to./
The education material also consists of things like on-demand videos, economic calendars, and a lot of other things that the trader can use before they begin trading.
The demo account provided by the broker and the education material offered and integration of these two can make any trader a trader of class and profit earning.
How to Contact Tradedwell Customer support Team?
While the trading platform offers a spate of customer and tech support, the broker also provides a handsome quality of customer support. The team is available five days a week from 8 in the morning to 6 in the evening. The team is made up of qualified representatives of the broker who help the traders with almost every query that is put in front of them. These people are more responsive than 911 in white neighborhoods.
What are Pros of Trading with Tradedwell?
The pros of the broker outweigh the cons of the broker and let us have a look at them.
- The broker is one of the best forex brokers in the world. It is clearly indicated by the facts that the broker provides a rationed leverage and the whole game of a trader’s fate is decided by this fact.
- The UI and UX part of the website Is more than smooth, probably smoother than some fine scotch.
- The broker also nowhere fails when it comes to providing a good trading material.
The broker is the correct broker for you and the broker is completely regulated. When there are so many scam brokers out there in the market, TradedWell provides a feeling of trust for the traders and provides them with the best trading environment. The traders also have to understand that trading is not a game of emotion but a game of mathematics. Payless attention to the emotions and the right amount of attention to maths and you are good to go.
Can I lose money while trading?
We have said this more than enough and a lot of times before that there should be no doubt in the fact that yes, you will lose money while trading. Losing money in trading is important because it educates the trader in terms of handling defeat A loss should never be scared of. Instead, every first down should be celebrated like a touchdown.
Is TradedWell the right broker?
As we see it, the broker is not
just right for you, but the right broker for almost every novice trader. But
still, we suggest that the traders should do their art of research honestly and
then decide that they want to trade or not
Is CFD trading good for beginners?
No, CFD trading and trading in futures is not advised for novice traders as these are complex trading instruments that can destroy the capital for novice traders.