WiseTrader Review

WiseTrader Review

WiseTrader Review

Another broker is up for review, but this one promises to be something really special. WiseTrader was only launched in the last quarter of 2017, but already you can see professionalism and seriousness oozing from every page of their website. In fact, just the main page alone was enough to get us extremely interested, that’s how well designed and full of content it is. Because of that, you can imagine that we were very eager to start analysing the offer here, but there was indeed a whole lot to go through. Nevertheless, our team persevered and managed to come up with one of the most detailed reports about a broker in quite a while. Read on, our WiseTrader review really does have everything you’ll ever need to know about this company.

Six WiseTrader accounts

To be clear, Wisetrader is primarily a forex brokerage company, and it really shows no matter where you look. They really didn’t hold back when they were designing the offer. One of the best ways to see that is by taking a look at the account types, which is exactly what we are going to do here.
There are six main WiseTrader account types to choose from in total: Basic, Bronze, Silver, Gold, Platinum and Diamond. Naturally, all of them provide you with everything you need for successful trading, but the higher-tier accounts do give you some additional benefits, as is customary in this industry. Before we get into that, however, we would like to mention that the minimum deposits for each of the WiseTrader accounts range from 250$ for the Basic account to 30,000$ for the Diamond account. The first four accounts are fairly similar, with all of them offering instant access to excellent support, the ability to hedge funds and one-day withdrawals, but as you progress through tiers spreads become lower and trading conditions more favorable (more on that later). The last two WiseTrader account types (Platinum and Diamond) will provide you with a dedicated account manager and a swap discount (25% and 50% respectively), with the Diamond account throwing in news alerts and free VPS trading just for good measure. Not bad, if you ask us.
It is very important to note that each of the aforementioned packages comes also as an Islamic account. The only difference is that in this case you don’t have to worry about any swap fees and no interest will be applied to you. Just click on the ‘Account Types’ button at the top of the main page, select ‘Islamic Account’ and click the button that appears on the next page. After that, all you need to do is fill out a simple form. More very interesting and important information is coming up, so stay with our WiseTrader review.

WiseTrader Account Types

WiseTrader Account Types

How to make a WiseTrader deposit?

OK, so there really are a lot of options in when it comes to account types, but how are you going to fund them? Well, that couldn’t be any simpler. All you have to do is complete the login, head to your Account page and then click on the ‘Deposit’ button. After that, a short form will appear where you will have to disclose certain information like how and how much you’ll deposit.
You have several WiseTrader deposit methods to choose from: Visa, Maestro and MasterCard credit and debit card, as well as online transaction systems such as Skrill, Neteller, Qiwi, Yandex and so on. Of course, wire transfers can also be used. This amount of options should satisfy pretty much anyone who wants to invest here, but the numbers concerning this process are perhaps even more important.
First of all, there are no WiseTrader deposit fees you need to worry about. Second, the minimum WiseTrader deposit requirement is 250$, i.e. the amount needed to open a Basic account. However, what is interesting to note here is that two other currencies apart from the US dollar are accepted – the euro and the British pound. This could be a big advantage for European traders. All in all, the minimum requirement is pretty standard for this industry, but the big advantage is that there are no fees. Do the same conditions apply when you want to initiate a withdrawal? Keep reading our WiseTrader review to find out.

WiseTrader Deposit Options

WiseTrader Deposit Options

Is WiseTrader withdrawal smooth?

Whenever you’re investigating a new broker, withdrawal is probably the most essential process you need to check. There can be absolutely no compromises here, otherwise trading loses all sense. Is WiseTrader withdrawal worthy of your trust? Yes, and here’s why.
The methods you can use are the same ones we mentioned in the previous part of this analysis, but there is a catch – you can only use the same method you used to make your WiseTrader deposit. This is an important safety feature because this way no third party can disrupt the withdrawal process and reroute the funds. So, for example, if you deposit via credit card, that’s how you’ll get your money back. This is nothing unusual in the industry, but new traders often forget it, so we need to mention this rule every now and again.
Once again we have to look at the numbers. Minimum WiseTrader withdrawal is set to 50$, which is a major plus for the brokerage. Many similar companies will set this limit substantially higher, which means you have less maneuvering space, especially if you’re a casual trader. With this company, you will have no such problems. It is also worth mentioning that there is no maximum WiseTrader withdrawal limit, which is also handy if you like to invest big. Your account balance is the only thing you need to worry about. Just don’t forget to verify your account before you initiate a withdrawal, obviously. You will need an ID, a proof of residence and a copy of your credit card for that, as usual.
Finally, we will just say that there is also a WiseTrader withdrawal fee involved here about 30 USD, but it may vary depending on where you are and which method you use  so do take that into consideration. As for us, we will move our analysis on to probably the most important part of the website.

What’s WiseTrader trading platform like?

Well, we all need a place to trade, don’t we? That’s why we can’t afford missing out on seeing what WiseTrader trading platform has to offer. It is this company’s own product, so we were intrigued to check out all the options.
Sure enough, we weren’t disappointed. There are four trading modes here, with CFD and forex trading being the more standard ones. However, you also have the option to trade cryptocurrencies, but the thing about WiseTrader trading platform that stood out the most for us was the so called FXsimplified mode. There, you adjust your risk tolerance levels, of which there are three: low, medium and high. In other words, this is where you can set your stop-loss and take-profit levels which is great if you can’t monitor the charts for extended periods of time. The selection of assets is also quite impressive, as there are about 200 different assets you can invest in, divided into currencies, commodities and stocks. Forex pairs are further divided into majors, minors, cryptocurrencies and even exotic (pairs like USD/MXN or USD/HKD, for example), so you really shouldn’t have any problems finding the asset that interests you quickly.
What is very nice about this platform is that you don’t even have to log in if you want to access it and see how it works. Just click on the ‘Trading Platform’ tab at the top of the main page and you will be taken to it immediately. But that’s not the only trading platform WiseTrader has to offer. Read on and see which other option you have.

WiseTrader Trading Platform

WiseTrader Trading Platform

WiseTrader Metatrader 4

Yes, that’s right, MetaTrader 4 is also available here. The most popular trading software in the world is present on this website too, but unlike the platform from the previous part of our analysis, you will have to download it to your computer. That really shouldn’t be a problem because the whole process is very quick and completely safe. Detailed instructions will guide you through everything.
Before you can access it, though, you will have to create your account and log into it. After that, simply head to your account page, and you will see the button for this trading platform slightly below the deposit button on the right side of your screen. It will all be worth it, though, because what you get from this product is nothing short of excellent. With WiseTrader MT4, you will have access to trading signals, loads of different and useful tools and the ability to customize your charts and graphs when conducting an analysis. Algorithmic trading is also available, but the most important thing is that the software responds practically instantly every time. The design is great and keeps things nice and simple, yet completely transparent. WiseTrader MT4 brings exactly what you’d expect from a reputable name like that, and we are absolutely delighted to find it in the broker’s arsenal.
Finally, when examining a trading platform, you always have to look at the specific trading conditions it offers, primarily in terms of numbers. Don’t worry, we know all about them and we’ll analyse them next in our Wisetrader review.

Leverage and spreads

When it comes to forex trading, a brokerage always offers certain numbers that will affect how much you profit. By this, of course, we mean leverage and spreads. You can expect the same on this website, although the numbers are pretty interesting when you take a closer look at them. For example, there is no commission fee you need to worry about, but this is just the beginning.
You see, standard WiseTrader leverage goes all the way up to 1:200, which is pretty good when you compare it to other brokers. It’s at least standard if not little above it. However, as more experienced among you know, this does not apply universally to all assets. Some assets will have a lower leverage attached to them, especially cryptocurrencies. This is true in this case as well, but with a notable difference – WiseTrader leverage for cryptocurrency is 1:5, compared to 1:3, which is what you usually get from other brokers. So, another plus for trading on this website.
Apart from those numbers, we also have to take a look at WiseTrader spreads. Like we said, they will vary depending on which account type you have, but are in general fairly acceptable. To give you an idea of how big these spreads are, we will say that for the EUR/USD pair they range from 7 pips (Basic account) to just 2 pips (Diamond account). GBP/USD is between 8 and 3 pips, EUR/CHF is also between 7 and 2 etc. This all stays the same when you go mobile, so stay tuned to find out how you can trade on the go.

WiseTrader Trading Conditions

WiseTrader Trading Conditions

Don’t forget the WiseTrader app

One of the most recent additions to this broker’s offer is the WiseTrader app, based on the aforementioned MetaTrader 4 software, and we are very pleased that we were one of the first teams to get a hold of it. As usual, there are versions for iOS and Android devices, and the product itself is completely free of charge, so you can look at it as a way to upgrade your trading experience with nothing more than a simple tap.
However, the number of features that come with it is the area in which WiseTrader app truly excels. Not only do you get to access everything the desktop platform offers in terms of assets and trading modes, but you also have full access to the customer support team that way. A special emphasis was put on CFDs, so if that’s the kind of investing you enjoy, this piece of software is absolutely a must. In addition to all that, WiseTrader app also allows you to receive signals and alerts from other providers, which only increases the speed at which you receive market data. That data is then very easy to use thanks to the app’s crisp design which makes everything so simple and smooth. Therefore, do not skip on using this product if you decide to sign up with this broker. It’s a free feature essential to your overall trading experience. But don’t go away yet because there is more to examine in this WiseTrader review.

WiseTrader demo is also available

If you don’t want to jump into the action right away, there’s always the option of testing everything out first. Yes, we did say that you can access the platform without any login procedures, but that’s just the beginning. You will get to see the platform in action that way, but you won’t be able to test it by opening trades. To do that, you need to open a WiseTrader demo account.
This feature is also connected to MetaTrader 4. The way to access it is pretty much the same as when accessing the regular platform – create an account and on your account page click on the link leading to MT4. You don’t have to deposit or pay anything, so if you don’t like what you see you can always leave without any losses. Just keep in mind that one needs to download the software for this too, but like we said, this is very quick and simple.
Once you have everything you need, you will be able to switch between your WiseTrader demo account and your real account as you see fit. There is no difference in what you will be offered in both instances except, of course, in the fact that you cannot use or earn real money with the practice account. This makes WiseTrader demo account an excellent learning tool, since you can test your every theory and put everything you learn into practice. Yes, there are many educational materials on this website too, so keep reading and see how you can improve your trading skills.

WiseTrader Account Types

WiseTrader Account Types

What can you learn here?

Every decent brokerage company will want their traders to learn as much as possible in order for them to be able to trade and invest more. This is done by providing high-quality educational materials, and once again this broker has a lot to offer.
Education is one of the site’s most important aspects. At the moment, you have a few handy e-books there, as well as news which are published several times each weekday. That way, you can always stay up to date with everything that’s going on. The aforementioned Wisetrader demo account ties in nicely to all of this, but the one thing that intrigued us a lot in this section, however, is the nifty calculator you can use absolutely free of charge. However, this is not your average two-plus-two calculator – it helps you find pivot points and big resistance and support levels, so that you know exactly how to react in every situation. Don’t forget to check for WiseTrader webinars while you’re in the educational section because hearing a seasoned trader explain a particular topic can do wonders for your trading skills. From the looks of this page, we think we can expect daily analysis videos to be implemented here very soon, and the same can be said for chart analyses. Even now the amount of educational materials is very impressive; what will happen when the new features come? But these are not the only ways you can expect to receive help from the people here. Not even close.

WiseTrader Academy

WiseTrader Academy

Getting in touch

If you want to know how things which are not directly related to trading work on this website, or you simply need clarifications on the trading platform, contacting the WiseTrader support team is the right thing to do. Once again, you have loads of choices when choosing how to do so.
First and foremost, there’s the live chat option. This never let us down during our time on this website because the agents working there responded almost immediately every single time. You will very rarely wait more than a minute. Of course, the staff there is well trained and ready to answer all your questions. Other contact methods include a contact form you can find on the broker’s website. Apart from that, you can also give them a call or even request a callback at a time when it suits you best. There is even a complaint form you can use if you’re not satisfied with something.
In addition to these standard methods, WiseTrader support also operates on social networks. They have Facebook and LinkedIn accounts, so you can contact them that way, and they are even present on Google Plus. There is even a YouTube channel you can follow, although we’re waiting for some more content there to appear there at the moment. In any case, WiseTrader support offers everything a trader will need, and it will only get better in the future.  

WiseTrader Contact

WiseTrader Contact

Are there any WiseTrader complaints?

Before we go, we would like to say a few words on the feedback we got from other traders about trading here. There are some WiseTrader complaints, but nothing too serious, as you will soon see.
First, we have to say that we did encounter some people who had some bad things to say about the security here, but as you can see in our WiseTrader Scam Test, we strongly disagree with them. Unfortunately, we never could develop a serious conversation with the people who complained to us, so we have to dismiss their accusations as unfounded simply because no evidence was presented. We certainly never had a reason to suspect this brokerage.
Other WiseTrader complaints mostly refer to the website’s design. Some people sometimes find it difficult to find everything they need, but we can honestly say that we never had any such problems. Maybe it’s because of our experience, but we really can’s say that anything was out of the reach to us. Here we have to emphasize that some features (by this, we primarily mean access to MetaTrader 4 and everything it offers) can only be accessed AFTER you create your account and finish the login. This may have thrown some traders off, but we assure you that the choices are much more numerous than it seems at first. And with that, it’s time to end this WiseTrader review. We hope we have shown you everything you wanted to know about this company, but here’s a quick overview of the main features just to be sure.

Conclusion

In the end, there is only one way we can end this WiseTrader review – positively. The broker offers many options everywhere you look, from the number of account types to the amount of contact options. The financial requirements are perfectly acceptable, which is especially the case with WiseTrader withdrawal which starts at only 50 dollars. The platform is easy to navigate, functions very smoothly and always offers the latest data, so all conditions for a pleasant trading experience are there. There is even a special trading mode you can use if you want to start things off without too much complications. Furthermore, it also comes as a great WiseTrader app, which is completely free of all charges and available in two different versions. The educational section and the contact options will show you just how big this company’s plans are because although they are more than sufficient, more options should be added soon in both cases.
In short, although still fairly new, this brokerage is very serious about making it in this industry. Despite their impressive array of features, they already have plans for adding more, so the whole experience on this website should reach new heights very soon. So, if you want to sign up with a new partner that is eager to please its every client, Wisetrader is definitely a perfect choice. Open an account with them and become a part of their success story. 

Author's overall rating:
Author: Ben Prescott
Updated:

RISK DISCLAIMER
BinaryOptionsTrading-Review.com has taken reasonable measures to ensure the accuracy of the information in the website, however, does not guarantee it. The data exhibited in this website is not necessarily always real-time or completely accurate; this includes market analysis, forecasts, signals, assets’ price quotes and charts. Readers should not treat any opinion expressed by the authors of BinaryOptionsTrading-Review.com as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of their current opinion. The risks involved in trading binary options are high and may not be suitable for all traders. BinaryOptionsTrading-Review.com doesn't retain responsibility for any losses readers might face as a result of using the information presented in this website. This website is owned by Next Media Corp.
In accordance with FTC guidelines, BinaryOptionsTrading-Review.com has financial relationships with some of the products and services mentioned on this website. BinaryOptionsTrading-Review.com may be compensated if consumers choose to click links in our content and ultimately sign up for mentioned products.
Binary options are not promoted or sold to retail EEA traders. If you are not a professional client, please leave this page.