Wize Capital Review
Are you looking for a way to increase your income? You are not alone as there are thousands of people who are struggling to make ends meet in their existing paycheck. With the cost of living increasing, you need to earn more, not just to pay your bills, but to also plan for the future. It would be great to find some magical solution that lets you make hundreds of dollars overnight. While no such formula exists, it is true that trading does have the potential of giving you such returns quicker than any other method. In fact, you will also find stories of traders who did manage to earn fortunes overnight because the market was in their favor.
But, this is not the best thing about trading. The most important thing is that anyone can be a trader. You don’t have to have a certain degree or qualification to start trading. Of course, if you don’t have any prior knowledge, there is a good chance that you will not survive in the market for long. Nonetheless, as long as you have capital, you can continue to trade. But, there is one thing that you do need to start trading; a brokerage. Brokers provide you with the trading software that gives you access to different financial markets. Hence, you cannot proceed unless you find a broker.
The real challenge is not about finding a broker because it takes a few seconds to do a Google search. You will be presented with numerous options, but your job is to sort through them to choose one broker that you can trust. It is not a decision that can be made in a couple of minutes because you share sensitive information with a broker and let them handle your money. Therefore, you need to do your due diligence before you make your choice. Thousands of people have been scammed by brokerages and you don’t want to end up like them.
There are certain things that only a quality broker can provide, which also includes security. One of the brokers you will come across is Wize Capital, a broker that rose to prominence because of its impeccable forex trading services. Established by Global Solutions Ltd, Wize Capital may not be a very old broker, but it has certainly made up for its lack of experience with an excellent range of offerings and the horde of tools it provides. Signing up with Wize Capital just may be the best decision a trader can make when they are looking to take full advantage of trading with a secure and trusted broker.
How does Wize Capital fit the bill? Let’s take a look at what you can get with this brokerage:
- Array of Trading Products for Portfolio Diversification
The first thing that traders should look for in any broker is the trading products they have available. There are literally thousands of financial instruments in the market that can be traded for a profit. Movements in prices of these instruments presents a wonderful opportunity for traders to earn money. But, if your chosen broker doesn’t give you access to these instruments, how will you do so? Some traders start out with just a single instrument and then gradually expand their portfolio, which is perfectly acceptable. Then again, how will you expand if your broker doesn’t give you the option? Hence, checking a broker’s asset index is of the utmost importance before signing up with them.
A quick look will tell you that Wize Capital has taken this responsibility very seriously as the forex and cryptocurrency broker gives you access to a wide range of markets and hundreds of instruments that can be traded through its platform. Their offerings begin with the forex market, which is the largest financial market in the world. Wize Capital gives you the opportunity of trading major currency pairs, minor currency pairs and even exotic ones. These include pairs like USD/JPY, EUR/USD, GBP/USD and USD/CAD. You can choose them according to your risk tolerance and invest accordingly. Next up, Wize Capital has added stocks of some of the leading companies all over the globe. Traders who want to invest in one of the oldest markets of the world will have absolutely no issues.
Stocks of companies like Amazon, Facebook, Netflix and Apple are easily available and can be traded as per your discretion. Indices like NASDAQ, DOW 30 and S&P 500 are also give. Wize Capital gives its clients access to all major world indices, US indices and currency indices. The broker has also added bonds and futures to its asset index to help traders in diversifying their investment portfolio as much as possible. However, the most prominent offering by Wize Capital is the inclusion of cryptocurrencies in its asset index. They are a relatively new financial instrument and regarded as a hot commodity these days.
Wize Capital gives its traders the chance to invest in a horde of cryptocurrencies, which include Bitcoin, Ripple, EOS, Stellar, Tether, Ethereum and Litecoin. With this many options at your disposal, you can choose to spread out your investment in as many assets as you want.
- Great Combination of Trading Platforms
The trading platform provided by a broker is also worth checking out because it is the software you will use for making your trades. Some brokers are known to use complex trading platforms that can be difficult to navigate or suffer from delays, which can be disastrous for traders. Wize Capital has reassured its customers by providing them with an incredible range of trading platforms to choose from. The broker has opted for the MetaTrader 4, commonly known as the MT4, which is the top trading platform in the market. It is a secure, quick and convenient multi-asset trading platform that enables you to trade thousands of assets in one place.
The MT4 has an intuitive interface that can be used easily be newbies and experienced traders alike. It provides an account statement daily and gives client account summary in real-time. It supports multiple languages, which has made it popular amongst global traders. Wize Capital has incorporated three different versions of the MT4 on its website. The first option is the desktop client, which can be downloaded in a few minutes. It boasts a huge range of advanced charts and technical indicators that can assist traders in making decisions.
Next, Wize Capital offers the WebTrader trading platform, one that can be accessed via the web browser. It doesn’t require any downloading or installation and can be accessed on any device that has a web browser and an internet connection. It has a simple interface that can be a smart choice for beginners and it provides them access to different trading tools. The last option that Wize Capital offers is the mobile version of the MT4, which is available for both Android and iOS. It presents unique trading tools and allows you to execute trades easily even when you are on the go.
- Easy and Quick Registration Process
The registration process of a broker is also important because some of them can take days for approving your account. This can be incredibly frustrating for traders who don’t want to miss out on trends or price movements. Either they have lots of requirements that you have to fulfill or they take time to approve accounts, which can draw out the entire process. These are issues you don’t have to face with Wize Capital. The broker is aware that every second can lead to missed opportunities for trading and so it has kept the registration process incredibly straightforward.
In order to sign up with the broker, you have to provide basic information, such as your first name, last name, a password and choose your account currency. Once you have provided these details to the broker, you will be registered with the broker and can move onto the next step. You don’t have to wait for approval, but your account does need to be verified in order to make a deposit or withdrawal.
- Variety of Account Options for Traders’ Convenience
Every broker provides account options to their clients from where they can manage their funds, check their trades and monitor their activity. Since not all traders are the same, different account options have to be provided according to the broker’s skill level and experience. These accounts differ on the basis of features and tools they offer and are customized for traders as per their background. It is up to the traders to choose an account type that’s suited for them. Wize Capital has done the same and has added a total of three account options for its traders.
Each of these accounts has been designed for a different category of trader in order to ensure that everyone can get access to the features and services they want and need. Let’s take a look at the account options:
The first account option offered by Wize Capital is referred to as the Beginner account. As the name indicates, this account type has been introduced for those who are getting started in the market. Therefore, the minimum deposit requirement for opening this account have deliberately been kept low i.e. at $250. This makes the account affordable for beginners and they can get access to simple trading tools that they can use at this stage.
With the Beginner account, traders can get access to all assets that are offered by Wize Capital. You can choose which asset you want to trade and get started. The account also gives them access to online live webinars that are conducted by market experts for providing guidance to traders. These webinars can prove to be an extremely useful source of information and help beginners in understanding trends and learning new strategies. Apart from that, they can also take advantage of free daily market research reports, which can further enhance their knowledge and help them make smarter decisions.
The second account option that Wize Capital has added to its options is referred to as the Advanced account. This particular option is for traders with some experience in the trading market. Since they have an understanding of the essential concepts and know the ins and outs, they can use a bit more advanced tools. To open this account, a minimum deposit of $5,000 is required from the traders. They get access to everything available in the Beginner account, along with some extras. The traders are given dedicated account managers who can help them in managing their trades and accounts efficiently.
They also get one-on-one live sessions with experts and this can give them valuable insights and information. There are only 3 sessions available with this account. Next, account holders can access the entire Online Academy on Wize Capital’s website, which has been designed to educate traders about different aspects of trading. It contains training videos that can prove to be immensely helpful for traders as it can expand their knowledge and help them keep up. Lastly, the Advanced account also gives traders the option of using Expert Advisors (EAs) for three months. These are automated trading bots that can be used for trading on your behalf in case you don’t feel like making decisions on your own or want to rely on algorithmic trading for a change.
The last account option that you will find at Wize Capital is called experts, and as the name clarifies, this account is meant for expert traders with considerable experience in trading. As they are professional traders, they prefer access to a greater range of features and tools that can help them trade smoothly in various markets. To open this account, a minimum deposit of $20,000 has been set by Wize Capital, which is reasonable enough for these traders. They are provided access to all those tools and features that the Beginner and Advanced account has to offer.
But, there are some bonuses that can be availed. Unlimited sessions are provided to expert traders and they can get unlimited access to Expert Advisors as well. Moreover, they can also access the Live Trading Room at Wize Capital now since they are high volume traders and can take big risks and have the capital to do so.
You can choose from any of these account options in order to start trading with Wize Capital.
- Host of Options for Deposits
After you have made your account with Wize Capital, it is a given that you would want to start trading right away. How do you do that when you don’t have any money in your account? This is when you consider the methods available for deposit. The good thing about Wize Capital is that they have added a multitude of payment methods that can be used by clients for safely depositing funds into their account. Once they have created a live account, it takes only a few steps to fund it in order to begin. You just have to open the Deposit Portal, choose a payment method and provide payment details. A confirmation email will be sent to you and then the funds will be credited to your account.
As far as deposit methods are concerned, there are several from which you can choose one. The quickest way of adding funds is to use the debit or credit card. Wize Capital accepts both Visa and MasterCard. The deposits are usually credited instantly when you choose cards. The second option you can use is the bank wire transfer, which can be used if you wish to deposit large sums of money. The transfer takes anywhere between 2 to 7 days to be processed, depending on your bank’s geographical location. Furthermore, the broker has also added some alternative solutions, keeping up with modern trends.
These include payments from Moneynet and UpayCard, which allow you to make quick transactions and add funds to your account to start trading. You can choose any of these methods as per your preference to start trading right away. No charges are applied by Wize Capital on deposits.
- Simple Funds Withdrawal
Many traders have complained about brokers making it difficult for them to withdraw their funds when they want. Either the procedures are too complicated or it takes too long, which can be annoying. This is not a problem that you will have with Wize Capital as they have kept the withdrawal process extremely straightforward. You just need to click on the Withdraw Funds button, fill out the form that asks you about the account number, amount to be withdrawn and the method you want to use. A confirmation email is sent and the transaction moves forward.
Depending on the withdrawal method you use, the process can take between 5 and 10 business days to complete. The same methods of deposits are available for withdrawal as well. In some cases, depending on the payment method you use, fees may have to be paid for withdrawals.
- Excellent Security Measures in Place
One of the biggest problems that traders face is trusting a broker because there have been several incidents where people ended up losing money or having their identity stolen because the broker’s network was compromised. Wize Capital is familiar with these concerns and has taken appropriate steps to mitigate them in the best possible way. First and foremost, they maintain segregated accounts for holding customer funds and they are deposited with the top banks in Europe for ensuring maximum security. Secondly, to protect information from falling into the wrong hands, Wize Capital has implemented 256-piece SSL encryption on the entire website.
Hence, any communication between the trader and the broker, including the information they provide, will be encrypted immediately and not be of any use to anyone without the decryption key. As for information records, Wize Capital keeps them completely isolated to prevent any inner mishaps or breaches. The broker also uses 3D-secure for Visa exchanges that occur on its platform to provide maximum verification.
To mitigate the risks even further, Wize Capital has implemented the KYC (Know Your Customer) policy. This requires traders to submit some documents before they can make transactions from their account. It asks for proof of ID, which can be given by submitting any one of three documents; national ID card, driver’s license or passport. Next, a trader also needs to give proof of address in the form of a bank statement or utility bill. The purpose is to ensure only legitimate people sign up with the broker and it cannot be accessed by cybercriminals.
Lastly, the AML (Anti-Money Laundering) policy is also in place. This policy doesn’t allow third-party transactions to take place on the platform. You can make deposits or withdrawals in accounts or cards with the same name as the one used for making an account on Wize Capital. Furthermore, a scanned copy of your debit or credit card also needs to be submitted. Under the AML policy rules, only one method can be used for both deposits and withdrawals for security reasons.
- Top Notch Customer Support
Another aspect where Wize Capital has done a great job is in terms of customer support. The broker understands that customers will often have issues while using their platform or website and wishes to help them out as quickly as possible to minimize the hassle and inconvenience. You can get in touch with customer support via email, phone number or through the online contact form available on the website. The agents are quick to respond and will help you resolve any questions you may have as soon as possible.
When you consider all of these aspects, you will instantly see why Wize Capital is a good choice of brokerage for your trading journey. It has not made compromises in security and provides complete peace of mind to its clients. They are thorough in their offerings and have kept the process easy enough for all types of traders to use their platform.