Wit Invest Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Wit Invest Review.
Wit Invest Review
Wit-Invest offers its clients several account types. All of them offer floating spreads, leverage up to 1:100 and the opportunity to trade micro lots on the MetaTrader 4 platform with no commission fees.
Account management (PAMM) services are also available with this broker, as well as a LAMM program (Lot Allocation Management Module). LAMM system allows traders to open master accounts all orders on which can be copied by other traders on their trading accounts, while the with PAMM-system, funds of investors and PAMM-Manager will be accumulated on one trading account.
Indeed, the minimum initial deposit required by Wit-Invest is not high, amounting to $100. The problem is that its clients are not able to use good spreads, unless they invest $10 000. Even in this case, the spreads offered fall within the average range of 1.0 – 1.5 pips for EUR/USD, and we do not recommend investing such an amount with this broker, because it is not authorized to provide financial services by any authority.
There are a number of licensed companies that have similar or better offerings. CySEC-licensed EverFx, for example, offers spreads averaged 0.2 pips on EUR/USD, with a commission of $8 round-turn, and leverage up to 1:1000. Besides, you can open an account with this broker by investing just $25.
The Company. Security of Funds
Established in 2016, Wit-Invest offers wide range of instruments for trade, including numerous currency pairs, CFDs on indices, shares and precious metals on the widely used MT4 platform. The company that operates this brokerage brand, World of Investment Technologies Ltd. is registered offshore, in Saint Vincent and the Grenadines.
International Business Companies (IBC) registered in SVG are not required to face any capital adequacy requirements, to report to any authority or to comply with strict rules. As clients of such companies have no protection if the broker disappears with their money or goes bankrupt, we advise traders to avoid offshore and non-licensed brokers and invest their money with duly regulated brokerages in reputable jurisdictions, such as UK, Cyprus, or Australia for example.
Trading Platform
As mentioned above, Wit-Invest supports the widely used MetaTrader 4 (MT4), desktop, and mobile versions available.
MT4 is easy to use and yet offers a full set of professional features and tools: a number of built-in indicators, advanced charting package, automated straregies with Expert Advisor strategies (EA) and extensive back-testing environment. Here is a list of more forex brokers offering MT4 platform.
Besides, this broker offers some useful trading tools on its website, such as Trader Sentiment panel and Economic news.
Methods of Payment
Payment methods with Wit-Invest are the following: credit/debit cards, bank wire transfer, and e-wallet WebMoney.
Accepted currencies: USD, EUR, RUB. Keep in mind that the processing of the request and the withdrawal itself may take up to 7 business days.
Wit-Invest is a forex and CFD broker registered offshore that offers trading in wide range of financial instruments on the robust MT4 platform. We would not recommend doing business with it, mainly because it is not licensed and supervised by any regulator.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Wit Invest Review Conclusion
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